International Copyright

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The prices of the best books would in many cases, instead ofbeing lessened, be higher than at present, because the publisherswould require some insurance against the risk of rival editions, andbecause they would make their first editions smaller, and the firstcost would have to be divided among a less number of copies. Suchreductions of prices as would be made would be on the flimsier andmore popular literature, and even on this could not be lasting. Seventh. For the enterprises of the most las...ting importance to thepublic, requiring considerable investment of time and capital, thepublishers require to be assured of returns from the largest marketpossible, and without such security enterprises of this charactercould not be undertaken at all. Eighth. Open competition of this kindwould, in the end, result in crushing out the smaller publishers, andin concentrating the business in the hands of a few houses whosepurses had been long enough to carry them through the long andunprofitable contests that would certainly be the first effect of suchlegislation.

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