The Cambridge History of English and American Literature in 18 Volumes (1907–21).
Volume XIV. The Victorian Age, Part Two.

IV. The Growth of Journalism

§ 28. The Pilot; The Tribune

We have noted several praiseworthy, but unsuccessful, attempts to found journals, and, although this narrative deals mainly with the nineteenth century, we may add references to two which fall in the twentieth. One was the issue of The Pilot, partly in competition with The Guardian. The literary quality and variety of interest in the articles of The Pilot deserved a success which was not attained. The difficulties in the way of fighting a well-established periodical are very great, a newcomer having to incur expenses practically equalling those of the periodical with which it competes, while its advertising revenue is, necessarily, very small in comparison; and it often happens that the strain involved in such conditions is greater than the projectors are able or willing to bear. A similar comment may be made upon the fate of The Tribune, intended, by its projector, to take a position at the head of liberal journalism. The intention was admirable; and, from a purely literary point of view, many were the regrets when it was learnt that the paper was a financial failure.