Economy
In reply to the discussion: Weekend Economists Going to the Dickens December 16-18, 2011 [View all]Demeter
(85,373 posts)Dickens began to write A Christmas Carol in October 1843, and completed the book in six weeks with the final pages written in the beginning of December. As the result of a feud with his publisher over the meagre earnings on his previous novel, Martin Chuzzlewit, Dickens declined a lump-sum payment for the tale, chose a percentage of the profits in hopes of making more money thereby, and published the work at his own expense. High production costs however brought him a mere £230 (equal to £19,128 today) rather than the £1,000 (equal to £83,164 today) he expected and needed, as his wife was once again pregnant.
Production of the book was not without problems. The first printing contained drab olive endpapers that Dickens felt were unacceptable, and the publisher Chapman and Hall quickly replaced them with yellow endpapers, but, once replaced, those clashed with the title page which was then redone. The final product was bound in red cloth with gilt-edged pages, completed only two days before the release date of 19 December 1843. Four expensive, hand-coloured etchings and four black and white wood engravings by John Leech accompanied the text.
Modestly priced at five shillings (equal to £20.79 today), the first run of 6,000 copies sold out by Christmas Eve and the book continued to sell well into the New Year. By May 1844, a seventh edition had sold out. In all, twenty-four editions ran in its original form. In spite of the disappointing profits for the author, the book was a huge artistic success with most critics responding positively.