[ Sir Humphrey Sumner Milford, publisher to the University of Oxford. ] Duplicated typed circular, with facsimile signature of 'Humphrey S. Milford', describing the economic situation which has resulted in an increase in prices.

1p., 4to. In fair condition, on aged and spotted paper. A convincing copy of a genuine typed letter, with Milford's signature and the letterhead in black ink, and the typewritten text in purple. 25 lines of text in three paragraphs. An interesting glimpse into the state of the British publishing industry in the period immediately following the First World War. Begins: 'Dear Sir, | It is unfortunately quite clear that any hope which may have been entertained of the possiblity of a general reduction in the price of books must now be abandoned; at any rate for some considerable time.' Despite 'a fall in the price of paper which has now stopped', costs 'have mounted steadily; the cost of printing books is now higher than it has ever been. [...] Wages have been again raised in all the trades - paper-making, printing, and binding [...]'. The second paragraph explains how, although 'the 37 1/2 % which has been added to invoices since November, 1918, is not sufficient to cover the increased charges', he is holding off increasing this to 50 %. In a last short paragraph he states his intentions regarding prices for the period ending on 1 January 1920.