First known as a kephalaion in Greek, capitulum or caput in Latin, the chapter arose in antiquity as a finding device within long, often heterogenous prose texts, prior even to the advent of the codex. By the 4th century
Troy J. Bassett
Beginning in the 18th century and continuing throughout the 19th century, circulating libraries became an integral part of the literary marketplace as the chief means of distributing books. Subscribers paid an annual or per-book fee to rent volumes: during the Victorian period, the typical subscription rate was one guinea (21s) per year to borrow one volume at a time. The relatively high price of books made circulating libraries an economical means for many middle-class families to access books: for less than the price of one three-volume novel (one-and-a-half guineas, or 31s 6d), a subscriber could borrow dozens if not more volumes. Hundreds of circulating libraries existed during the Victorian period, but the two largest were Mudie’s Select Library (1842–1937) and W. H. Smith and Son’s Subscription Library (1860–1961). Mudie’s, headquartered in London, had upwards of 50,000 subscribers, established branches in other major cities, and shipped books around the world. W. H. Smith added a library department to its pre-existing network of railway bookstalls with larger branches in major cities. Between them, Mudie’s and W. H. Smith became the largest purchasers of books and thereby had a direct and indirect effect on Victorian literature. In particular, the three-volume novel system—whereby the high price limited sales to the libraries who then had a monopoly on new fiction—encouraged British readers to become book borrowers instead of book buyers. The format of the three-volume novel led to certain generic conventions influencing areas such as characterization, plot, and style, which remained until the format was abolished in 1894. Since the libraries, especially Mudie’s and W. H. Smith, largely controlled the distribution of literature, they often exerted an informal censorship on literature which some authors, such as George Moore, advocated against.
What is the literary marketplace, and what is the relationship between literature and the marketplace? The decades since the end of World War II have seen enormous changes in the economics of literary production: the book trade has grown, consolidated, and globalized; chain bookstores have replaced independent booksellers; and technological advancements have transformed how books are produced and how readers shop for, acquire, and read them. With these changes, questions about how the literary marketplace has mattered to literary history have been asked with increasing urgency, and the histories of those institutions that engage in producing, distributing, and selling literature have received increasing amounts of scholarly attention. Where the market was once understood to be a kind of implacable antagonist to literature, and literature once defined by virtue of its opposition to, and essential difference from, goods that are mass-produced, today the fields of book history, the sociology of literature, and literary studies itself frequently highlight the marketplace as a producer of modern and contemporary literature and—for better or worse—as a necessary context for it. What caused this shift, and what are its implications for literary study and for the idea of literature itself? How is a marketplace devoted specifically to the rarefied category of literature distinguished from the book trade generally, and how might one distinguish literature from nonliterature when both are produced by the same set of mostly commercial institutions? Answers to these questions depend in large part on the evolving, and surprisingly elusive, concept of a “literary marketplace” itself.