If the New York Times were to attack New York Edison Co. and print scorching editorials against the big banks, it would certainly cause a good deal of excitement. It might even start a run on one of the banks. But it certainly would not bring all Manhattan business to a standstill. No metropolitan newspaper, however influential, dominates its entire community nowadays.
Smalltown journalism is different. In a small community with only one or two newspapers, the editorial tail can wag the financial dog. Thus last week, all on account of the little...
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