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 xxiv free to entertain new developments of business. One of his early hopes was to become proprietor of a newspaper, and during 1854 he listened with much interest to a suggestion made to him by Thackeray that the novelist should edit a daily sheet of general criticism after the manner of Addison and Steele's 'Spectator' or 'Tatler.' The sheet was to be called 'Fair Play,' was to deal with literature as well as life, and was to be scrupulously frank and just in comment. But, as the discussion on the subject advanced, Thackeray feared to face the responsibilities of editorship, and Smith was left to develop the scheme for himself at a later period. Newspapers of more utilitarian type were, however, brought into being by him and his firm before the notion of 'Fair Play' was quite dropped. In 1855 Smith, Elder, & Co. started a weekly periodical called 'The Overland Mail,' of which Mr. (afterwards Sir) John Kaye became editor. It was to supply home information to readers in India. Next year a complementary periodical was inaugurated under the title of 'The Homeward Mail,' which was intended to offer Indian news to readers in the United Kingdom. 'The Homeward Mail,' was placed in the charge of E. B. Eastwick, the orientalist. The two editors were already associated as authors with the firm. Both papers were appreciated by the clients of the firm's agency and banking departments, and are still in existence.

In order to facilitate the issue of these 'Mails' Smith, Elder, & Co. acquired for the first time a printing office of their own. They took over premises in Little Green Arbour Court, Old Bailey, which had been occupied by Stewart & Murray, a firm of printers whose partners were relatives of Mr. Elder. The house had been the home of Goldsmith, and Smith was much interested in that association. Until 1872, when the printing office was made over to Messrs. Spottiswoode & Co., a portion of Smith, Elder, & Co.'s general literary work was printed at their own press.

In 1857 the progress of the firm received a temporary check. The outbreak of the Indian mutiny dislocated all Indian business, and Smith, Elder, & Co.'s foreign department suffered severely. Guns and ammunition were the commodities of which their clients in India then stood chiefly in need, and they were accordingly sent out in ample quantities. Jacob's Horse and Hodson's Horse were both largely equipped from Cornhill, and the clerks there had often little to do beyond oiling and packing revolvers. It was a time of grave anxiety for the head of the firm. The telegraph wires were constantly bringing him distressing news of the murder of the firm's clients, many of whom were personally known to him. The massacres in India also meant pecuniary loss. Accounts were left unpaid, and it was difficult to determine the precise extent of outstanding debts that would never be discharged. But Smith's sanguine and resourceful temper enabled him to weather the storm, and the crisis passed without permanent injury to his position. Probably more damaging to the immediate interests of Smith, Elder, & Co. was the transference of the government of India in 1858 from the old company to the crown. Many of the materials for public works which private firms had supplied to the old East India Company and their officers were now provided by the new India office without the intervention