Part 4

It is extremely unfortunate that the price of first editions should occupy so predominant a place in the public mind. The true book lover gives the question of monetary value the last as well as the least important place in his passion for collecting. If the average reader finds it easier to remember books by their prices in lieu of other earmarks, he can look forward to a time in the near future when he must revalue his entire mental collection. Prices of fine books are rising to new heights. Old records show they have advanced continually since the middle of the seventeenth century. Prices are now bound to go much higher. The world is filled with books, but the number of desirable ones is limited.

During the past decade many wonderful rarities have been taken off the market forever. They have found a final resting place in public institutions. Two of the greatest private collections in this country, those of Mr. Henry E. Huntington and the late Pierpont Morgan, have been dedicated forever to the people. These splendid gifts comprise, at a very rough estimate, more than one hundred thousand of the world’s choicest literary treasures. Mr. William L. Clements, of Bay City, Michigan, has donated his library of Americana to the University of Michigan, and Mr. William A. Clark, Jr., of Los Angeles, his splendid collection to the southern branch of the University of California, thus removing all possibility of their books ever being offered for sale. Mr. Clark is held in grateful esteem by scholars and lovers of books for his superb series of facsimiles of great English classics in his collection.

The magnificent gift of the library of Harry Elkins Widener to Harvard University is another case in point. Born in Philadelphia, Harry Elkins Widener spent his childhood on the large estate of his grandfather, the late P. A. B. Widener, in a home filled with treasures brought together from all parts of the world. The collector’s spirit was his through both inheritance and environment. When a young boy he showed an interest in books, and as he grew older proved himself a born student of bibliography. Books were his life work, his recreation, his passion.

I think if Harry Elkins Widener had lived he would have been the greatest collector the world has ever known. Of course he began as all collectors do, gathering rather unimportant works. But he weeded them out sooner than most enthusiasts, and by the time he was twenty-six had a library of three thousand volumes; each one of these showed a most fastidious, exacting, and exquisite taste, which he had found possible to gratify through the sympathy and generosity of his grandfather and his mother. When abroad attending various book sales, because of his youth and remarkable learning he attracted the attention of many older collectors. After the Huth sale in 1912 in London, he slipped a volume of Bacon’s _Essays_ in his pocket--a second edition which is almost as rare as a first--and, turning to a friend, said, “I think I’ll take that little Bacon with me in my pocket, and if I am shipwrecked it will go down with me.” With what prophecy he spoke they little knew. A few days later he was one of the victims of the Titanic disaster. His books may be enjoyed by students forever, but they will never again be offered for sale.

To-day there are twice as many people collecting books in this country as there were five years ago. Every year they increase in numbers, and the competition is keener for the best things. Naturally, prices must go up. The much-maligned business man who collects books will at last come into his own. He has been held for many years responsible for musical-comedy successes, but nothing is said of his books and his collecting. It is restful to think of him in his library of an evening instead of in the first row of a crowded theatre.

The increasing number of scholars in this country, with their insistent demands for the original sources of history and literature, is another cause for advancing prices. After all, contemporary documents are the only authentic tools for the student. The collector renders a real service to scholarship when he uncovers valuable unpublished material. A dear friend of mine has been also largely responsible for the modern esteem of old authors. A. Edward Newton, through his popular and appealing books about books, has inspired many to collect them. His _Amenities of Book Collecting_ is the bibliophile’s Bible; and his unbounded enthusiasm for Doctor Johnson is so intense that it is now contagious. Everyone has become infected with it. A new Johnsonian interest has spread over the country, and a first edition of Boswell’s _Life of Johnson_, published in London in 1791, which used to sell for seventy-five dollars, now brings $450, and in its original covers twice this price.

Certain books have sold for too little in the past. They remind me of people who plod along for years, then, through actual worth or a turn of the wheel, suddenly blossom out, much to their friends’ astonishment. As material as it may sound, the increasing wealth in this country is bringing about a new appreciation not only of books but of old prints, paintings, and antique furniture. Books are the final appeal; when the collector is through with the things that decorate his house, he turns to the things that decorate his mind--and these last forever.

The formation of university libraries and historical societies also adds to the value of books. They take them out of reach of the individual collector and place them in their ultimate home. No wonder these libraries are considered tombs by the ardent gatherer of books. New seats of learning, such as Duke University at Durham, North Carolina, will certainly need adequate libraries. Book clubs, too, are adding fuel to the flames. The Grolier Club of New York has a fine library; the Elizabethan Club at Yale is the enviable possessor of a tiny volume that ranks among the great books of the world. It is a first edition of Bacon’s _Essays_, printed in London in 1597. Fifteen years ago, at the Huth sale, it brought £1950--more than $9000. If it were offered for sale to-day it would bring at least $25,000. There are only about five copies of this edition known. One is in the British Museum, Cambridge University has two, and a fourth is in the Huntington Library. Thus, no private collector has the good fortune to own a single copy.

Even though many rare volumes have retired permanently from the salesrooms, it has always been a peculiarity of the collector that he lives in hope. Just as there has always been a great search for ancient manuscripts, so there always will be an endless hunt for important early books. If there were wonderful discoveries in the past, why not others of equal importance in the future? Within twenty years after the invention of printing--about 1475--books became so accessible that even the poorest scholars could afford them. Tracts of various kinds were marketed for a few pennies which at first had sold for pounds. There was so much printing done that some printers were ruined because the supply quickly outgrew the demand. The best printers in Germany perfected their craft and went southward into Italy, where their work took on an added beauty. The city of Venice became a regular hotbed of printing.

When, in the latter part of the fifteenth century, Italian noblemen saw how common printing had become, they regarded it as vulgar. Although they had at first been the patrons of printing, now some of them ignored it and endowed scriptoriums, in the hope that printing would fall into disfavor. In these scriptoriums men worked tediously on illuminated manuscripts, trying to make them finer than printed books. But of course printing went on, continuing its tremendous strides. Hope springs eternal in the book collector’s breast. He will never allow himself to believe that the wonderful old volumes of hundreds of years ago have all been found. To-day, to-morrow, or next week, he must surely unearth some unrecorded book.

What is known among book lovers as the greatest little find in history occurred at Lamport Hall in Northamptonshire, England, in 1867. Charles Edmunds, a London bookseller, while visiting Lamport Hall, the ancient seat of the Isham family, accidentally came upon the old lumber room. His curiosity was immediately aroused, for among the piles of wood and discarded furniture he beheld stacks and stacks of dust-covered books. There were hundreds of them of various sizes and dates; some were chewed to bits, having furnished banquets for generations of mice, descendants of which scampered about as Edmunds searched and hoped for something interesting. Just as he was beginning to believe that they all were valueless, he chanced upon a copy of Shakespeare’s _Venus and Adonis_. Imagine his surprise when he found it to be a hitherto unknown edition dated 1599, and “Imprinted at London for William Leake, dwelling in Paule’s Churchyard at the signe of the Greyhound.” Inclosed within the same vellum cover were _The Passionate Pilgrim_ and Davies’s and Marlowe’s _Epigrams and Elegies_. The only other copy known of the former is in the Capell collection at Trinity College, Cambridge. The third tract in this volume was also an entirely unrecorded edition.

This _Venus and Adonis_ was a fourth edition. It sold at the Britwell Court sale at Sotheby’s, in 1919, for £15,100--about $75,000. George D. Smith bought it for Mr. Huntington, and it was the highest price ever paid for a book up to that time. Whenever a great sale such as this one is held, prices reverberate throughout the world. Immediately there follows a cleaning out of old attics, a thorough brushing of odd closets; cupboards and lumber rooms are scoured; and a general sorting over of places where odd things have been relegated for years takes place. Naturally, the enormous price of the _Venus and Adonis_ caused a sensation when it was sold in London. News of this sale quickly appeared in every paper in England.

A pretty story is told of how, one afternoon, two young Englishmen were playing archery on an estate near Shrewsbury. Perhaps they didn’t have a target, or if they did they mislaid it. Anyway, they picked up an old book they found somewhere in one of the buildings on the place, and stuck it against the lower branches of a tree to use for a bull’s-eye. About to draw his bow, one of them was not quite satisfied with the angle at which they had placed their target. So he walked forward and turned it around. As he did so, some of the pages fell back, and he read the magic name, “Venus.” Looking at the volume further, he exclaimed to his companion, “I believe this old thing is similar to that book which sold for £15,100 yesterday!” It soon sold privately for more than £10,000, or about $50,000. Mr. H. C. Folger of New York, the greatest collector of Shakespeareana, was the buyer.

With these stories indelibly impressed on my mind, my delight was unbounded when I espied on the library shelves of Dorchester House, London, the residence of Sir George Holford, a matchless copy of _Venus_ in the second edition, 1594, five years earlier than these famous “fourths.” Only three other copies were known. Be assured that this was one of the first volumes I selected when, the following year, I purchased the greater part of his collection. From a monetary point of view this is the most valuable book that has ever been sold.

To bring these stories down to date, an almost equally interesting find was made after the sale of a signature of Button Gwinnett, at the Anderson Galleries in New York last winter, for which I paid $22,500. Gwinnett was one of the signers of the Declaration of Independence from Georgia. His signature is very rare, as his life was snuffed out suddenly in a duel with General Lachlan MacIntosh in 1777, when he was still young. There are but thirty-three of these signatures known. I bought my first Gwinnett, incidentally the first to be sold in many years, in Philadelphia two years ago for $14,000. Some wag figured, at the time, that it was worth exactly $1000 per letter. Mrs. Arthur W. Swann, of New York, happened to read about my purchase in a morning paper, and began to think over the various items of a collection of autograph letters which her grandfather, Theodore Sedgwick, had made, and which she inherited. The more she thought about it, the more significant a hazy remembrance became; she believed her grandfather had secured a Button Gwinnett similar to the one I bought. After carefully searching through the collection she found, much to her surprise and delight, a most beautiful example of Gwinnett’s signature. In November, 1926, she sold the entire collection, and I bought the Button Gwinnett for $28,500. This was then a record price for any signature in the world’s history, the young signer’s autograph having jumped to $2000 per letter! After a while, selling a famous man’s handwriting by the letter will be as common as selling antique silver by the ounce.

About four years ago a firm of auctioneers in London was requested to sell a great mass of ordinary music belonging to the estate of a late English noblewoman. The manager and his assistants were not very keen about it, as the music was unsorted and on its face almost worthless. But they finally agreed to do it on the condition it should not require sorting. During the sale a dealer bought one of the bundles. Later he sold some of it to other dealers, saving several sheets for himself to take home. Some time passed and one night he chanced to glance over the titles of these songs, catches, and other musical compositions. As he turned one of the pages he fairly started from his seat. He could hardly believe his eyes. A quarto pamphlet it was, and most probably had been placed there years and years before--perhaps as a bookmark--by someone who did not realize its worth. It was a copy of _Posthumous Fragments of Margaret Nicholson_ by Shelley! The author’s name was not mentioned, but it was edited by “Fitzvictor,” one of Shelley’s pen names. Here it lay before him, in the original wrappers in which it was first published. Of course, the news of the discovery spread like wildfire. Later, this work sold for £1210, approximately $6000.

Propagandist pamphlets written by Shelley are extremely rare, and have turned up in the most extraordinary places. They were generally of an inflammatory or seditious nature, and he and Harriet had the habit of throwing them from the windows wherever they might be staying at the time, in the hope of hitting sympathetic targets. I should like to be struck by one of those missiles!

Shortly after the War began I was informed of a letter written by Amerigo Vespucci, to be offered in the Morrison sale in London. It was the only known letter written by the man who gave his name to two continents. Previous to its finding, the only record of Vespucci’s own writing was a receipt bearing his signature. Now, the early stages of the Great War were not exactly propitious times for auctions or any other sales. The buying public of England, as well as auctioneers, dealers, and collectors, all found their minds preoccupied with but one subject--war. _Objets d’art_, books, and manuscripts were put aside as playthings of a leisured hour; nor were they to be considered when relatives and friends were fast becoming a part of the war machinery daily departing for France. So prices did the logical thing--tumbled.

Although I was aware of the situation, I believed it impossible that this Vespucci letter could go for a low figure. Here was an unusual, magnificent autograph more than four centuries old. War? Why, it had known a hundred wars! With little hope and less expectation, I cabled a bid of £2500--about $12,500. The arrival of a reply a few hours later caused me pangs of fear. I tortured myself a few moments with delectable suspense. Was the letter mine or not? A momentous question! At last I gathered courage and read words which were too curt, too few, to seem true. Not only was I the possessor of this most precious historical letter, but at what a price--a measly £395! It was almost impossible to realize that I had secured for less than $2000 one of the greatest bargains in history.

I was under a constant nervous tension until its arrival. When it finally came I went with it into my library, locked the door, and settled down to decipher the old and decorative handwriting. Vespucci had written in Latin a somewhat grave and formal filial epistle to his father. He was in Trivio Mugelli at the time, October 18, 1476. He comments on a commonplace book, belonging to his uncle, Giorgio Antonio Vespucci. These commonplace books were frequently kept in the fifteenth century. They were used to note down Greek and Latin quotations, the common information of the period. I had hardly finished reading this before some mental click went off in my mind. I left my comfortable chair and walked suddenly to a corner of my bookcase. Quickly I picked out an old manuscript in a fifteenth-century binding. I held in my hands an ancient commonplace book. There on the title page was the written name--Giorgio Antonio Vespucci!

Side by side in my library were Amerigo’s only letter and Uncle Giorgio’s commonplace book! I was thrilled by it all. In something of a daze I placed the two on the table before me. Separated for nearly five hundred years, they were again together. Where had they been those five centuries? What had they seen and heard? If someone had thrown a diamond into the middle of the ocean, to recover it years later, it could not have been a greater miracle than this almost impossible literary remating. Now the letter and the volume are in the Pierpont Morgan library, united forever.

Some collectors, to my eternal amazement, are completely satisfied with small libraries. This desire for a limited number of exquisite books originated in France centuries ago. Many of the wealthiest and most meticulous book lovers went in for what is known as cabinet collecting. They liked small books which they could handle easily, and found no interest in the first edition of even an important classic if it were large. Diane de Poitiers was one of the first cabinet collectors. The beloved of Henry II, she would doubtless be forgotten by collectors to-day if she had not, like Cardinal Wolsey, loved her books more than her king. When she became a widow, Diane immediately stamped her volumes with a laurel springing from a tomb, with the motto, “I live alone in grief.” But when she began her friendship with Henry she suppressed both the tomb and the legend.

In her boudoir in the Château d’Anet, just outside of Paris, long after her death a small case was found filled with the most precious volumes, all in beautiful bindings of red and citron morocco, decorated with the crescents of Diana the book huntress. This little nest of bookish nuggets was not found until 1723, but was in perfect condition. The diversity of its contents was amusing. The fathers of the Church nestled close to some of the most risqué stories of that time, and the poets stood side by side with treatises on medicine and the management of the household. It has always been of interest to me that in the small collection of Diane de Poitiers were two books relating to this country, thus making her one of the earliest collectors of Americana. The first was Servete’s edition of Ptolemy’s _Geography_, dated 1541, and the other, _Les Singularitez de la France Antartique autrement nommée Amerique_, brought out seventeen years later.

Perhaps the man who makes a covenant with himself to buy only a small number of books, imitating the French collectors, is the happiest and wisest of us all. He knows in his mind the location of every volume on his shelves. At least he runs little chance of finding himself in the position which was forced upon me several years ago. I had purchased a first edition of Defoe’s _Robinson Crusoe_, published in 1719, for which I paid $2500. Along with thousands of other volumes on my shelves, I had not thought for months of poor old Crusoe and his man Friday.

One day, however, a stranger came to see me, announcing with a great air of assurance he had a really fine book which he knew would delight me. Just how much, neither of us realized until it was removed from its brown-paper wrapping. Then I recognized the binding, and that it was my own _Robinson Crusoe_! I concealed my surprise as I asked for its history and how he had come by it. With charming facility he explained that it was left by his father-in-law to his wife, and I became furious when he wound up with the worn tale of its having been in his family “for over one hundred years.”

After he had finished his finely embroidered story I excused myself from the room for a moment to telephone police headquarters. Returning, I directly accused him of having acquired the book dishonestly. Looking me in the eye, more in sorrow than in anger, he stood by his guns. But when he heard the echo of heavy footsteps beyond my study door he broke down, and told me a sordid hard-luck story which made me feel rather sorry for him. I learned then that he had also bought other volumes from a man who had been employed by me some months before. He paid a few dollars for each book--I asked him for the names of the others, and was relieved that they did not compare in value to the _Robinson Crusoe_--and they were delivered to his junk shop. There was some wistful quality about this fellow; aside from his dishonesty, he spoke of books as though he loved them. I could not prosecute him. Again I left the room, this time to tell the two detectives who were waiting that I would not press the charge. And it did seem most unfortunate for him that he came to me, of all people in the world, with that _Robinson Crusoe_!

The modern book lover who gratifies his taste with a small collection usually starts off with what he calls a logical reason for his fixed policy. Some men will collect everything they can find which has been written by or associated with an author they love, generally some writer who has had a definite influence upon their lives. Thus there are men who gather every edition, pamphlet, manuscript, autograph, or personal relic of Burns, Shelley, Thackeray, or Dickens, to mention only a few. Other sentimentalists must have every line of verse by the poet whose rhythmic genius has struck sparks of music or passion in their own souls. On the other hand, a practical person, such as an Arctic explorer, will hunt out every known document mentioning the Arctic, while his colleague, the African explorer, follows suit with his desires for all works concerning his favorite quarter of the globe.