It was then arranged that Mr. Dickens should forward
a copy of the resolutions, with a letter, to Lord
Campbell.

On the 19th inst. Lord Campbell delivered the judgment
of the arbitrators to whom the dispute between
the Booksellers' Association and the retail booksellers
had been referred. This arbitration was entered into
in pursuance of a resolution of a meeting of the
Booksellers' Association on the 8th of April last; and the
arbitrators chosen were Lord Campbell, Mr. Milman,
and Mr. Grote. The judgment was delivered to a
number of gentlemen, parties to the dispute, who met at
Lord Campbell's house. The judgment begins by
stating the import of the present regulations of the
Booksellers' Association:—

"The substance of the regulations submitted to us we understand
to be, that all booksellers keeping a shop in London, or
within twelve miles of the General Post-office, are to become
members of the association, and are to receive a ticket entitling
them to buy new books from the publishers; that the publishers
of new books specify a retail price for each copy; that they
sell copies to the retail booksellers at about 30 per cent. under
that price; that they require an engagement from the retail
booksellers not to allow to their customers a larger discount
than 10 per cent. from the retail price; that without this engagement,
the retail dealers cannot be supplied with copies of new
books; and that for a breach of this engagement they forfeit
their tickets, and are cut off from any further dealings in new
books with the publishers."

The arbitrators have "unanimously come to the
conclusion that these regulations are unreasonable and
inexpedient," and then proceeded to state the grounds
of their opinion.

In the first place they think that

Such regulations seem primâ facie to be indefensible, and
contrary to the freedom which ought to prevail in commercial
transactions. Although the owner of property may put what
price he pleases upon it when selling it, the condition that the
purchaser, after the property has been transferred to him, and
he has paid the purchase-money, shall not resell it under a
certain price, derogates from the right of ownership, which, as
purchaser, he has acquired."

They then show that

"These regulations must, in practice, lead to vexatious
inquiries and fraudulent evasions."

They point out that though the arrangement between
the publishers and the retail booksellers is said to be
voluntary, yet it may, in a considerable degree, be
ascribed to coercion:

"Without the ticket, testifying that a retail bookseller is
qualified to deal with the publisher, he cannot carry on his
business as a vendor of new publications, and the means by
which he lives are taken from him."

The arbitrators next disposed of the alleged peculiarities
in the book-trade, which have been said to withdraw
this trade from the operation of the general
principles of commerce:

"The first peculiarity pointed out to us in the book trade is
copyright; and it has been argued that as authors have
protection, so ought those who circulate their works. The only
protection given to authors is the protection which the law
gives to property of every description. It has been decided by
the most eminent judges that an author has at common law,
and according to the eternal rules of justice, a property in what
he writes, so that no one can print it or reprint it without his
permission. The statutes which have been passed upon this
subject from the reign of Queen Anne to the reign of Queen
Victoria, have been in abridgment of the rights of authors,
giving them, by way of compensation, improved remedies when
their property is invaded.

"The next peculiarity pointed out in the book trade is that
the article asked for by a purchaser must be genuine, and must
always be of the same quality. But although there be no
competition as to the quality of this article, we do not perceive why
there may not be a competition as to the price at which it may
be sold. And here the competition is less dangerous to the
purchaser, for he is in no danger of having spurious wares
palmed upon him when attracted by lowness of price.

"Then we are reminded of the peculiarity that the publisher
names the price at which the book is to be sold to the customer
(which may be considered the maximum price), whereas the
manufacturer in other trades entirely leaves the price to be paid
by the customer to be fixed by the retail dealer. Some complain
of this proceeding of the publisher as a grievance. But admitting
the expediency of the publisher continuing to name a retail
price at which the book is said to be published, this can only be
as a guide, and cannot hinder the making of a fair bargain between
the retail dealer and the customer. At present, by the rules of
the association, the actual retail price may vary from the
publishing price, so that it is not more than 10 per cent. less.

"The consideration that has weighed most with us is the
peculiar mode in which in the book trade the wares to be disposed
of are distributed. There is no doubt a great advantage to
literature in the existence of respectable booksellers' shops at
reasonable distances in London, Edinburgh, and Dublin, and all
provincial towns. By the exertions of these gentlemen a new
work is made known more efficiently than by advertisements;
and the opportunity of inspecting a copy of it on the counter no
doubt often produces a purchase which might not otherwise
have been thought of. We cannot but apprehend that, if the
regulations in question are done away with, and unlimited
competition permitted, the number of retail establishments in
the United Kingdom may be considerably diminished. But the
existence of a larger number of retail establishments than is
necessary to supply the commodity to the public has an evident
tendency to raise the price to the consumer; and, according to
all experience, the demand will increase as the price is
diminished (though not perhaps to the extent contemplated by some
of the more ardent opponents of the 'Regulations.') On the
removal of an artificial protection in any department of industry
some distress immediately follows; but the wholesome
principles of commerce, when acted upon, ere long bring a remedy.
And it may be hoped that competition and low prices, large
sales and quick returns (perhaps the greater energy and
activity which may be enforced), may eventually add to the
prosperity of the book trade, and increase the profits of all
concerned in it.

"Lastly, it has been contended before us, that though the
works of celebrated writers might be advantageously circulated
and sold without the 'Regulations,' and the sale of such works
be rather impeded by them, yet the works of unknown and
second-rate writers, however useful and meritorious, could
not, without a law against underselling, be ushered into the
world. Even if this were so, we should still deny the justice of
aiding dull men at the expense of men of genius; and with a
view to public improvement, we should doubt the expediency of
checking the circulation of that which is most excellent, to
encourage that which gives less valuable information, and less
exquisite pleasure. Moreover, we have reason to think that in
many cases the 'Regulations' cramp the circulation of works
which have merit, without being popular. The demand being
small, the price would naturally decline, and at the reduced price
there might still be a considerable number of purchasers. But
as the minimum price fixed by the publisher must be rigidly
insisted upon, the sale is stopped, and the great bulk of the
edition, after causing a large expense for warehouse room, goes
to the trunkmaker's."

For these reasons the arbitrators arrive at the
conclusion—

"That the attempt to establish the alleged exceptional
nature of the commerce of books has failed, and that it ought
to be no longer carried on under these regulations."

They add:

"We neither intend to affirm, however, that excessive
profits are received in any branch of the bookselling trade, nor do
we impute blame to any class or individuals, although we
consider that the system is faulty, and that the community would
be sufferers by its continuance. We likewise wish it to be
distinctly understood that our disapproval of the 'Regulations'
extends only to the pretension of the publishers to dictate the
terms on which the retail bookseller shall deal in his own
shop, and to the means employed for enforcing the prescribed
minimum price which he is ordered to demand from his
customers. These being abandoned, it seems, from the language
of the resolution under which we act, that the association must
be dissolved."

The arbitrators decline to frame any new regulations,
because this would be beyond their powers, and because
"perhaps the bookselling trade will have the best
chance of flourishing without special regulations of any
sort." They conclude thus:

"Let there be entire freedom in the transactions between the
publishers and the retail booksellers, the publishers asking
prices and making or refusing allowances as they please. Let
them deal with every one (although unticketed) who brings
money in his purse, or whose responsibility is undoubted;
taking care not to encourage the long and renewed credits
which are said under the existing system to have produced so
much mischief. The publishers are not bound to trust any one
whom they believe to be sacrificing their wares by reckless
underselling, or to be carrying on business without a profit
sufficient for maintaining solvency. But let them not require
any pledge from the retail dealer to whom they sell their books
as to the price which he shall demand in reselling them.
Thus, freedom of action, we hope, may tend to harmony and
prosperity. We feel the most sincere respect and regard for
the highly intellectual and honourable body of men who are
engaged in the bookselling trade. As authors, we are deeply
indebted to them for their valuable services. And we shall be
amply rewarded for our labour and anxiety in this inquiry, if
we can contribute in any degree to their permanent welfare,
upon which we are convinced that the cause of literature in
this country must essentially depend."