Henry Jarvis Raymond, who began his journalistic career on the "Tribune" and gained further experience in editing the respectable, old-fashioned, political "Courier and Enquirer", perceived that there was an opening for a type of newspaper that should stand midway between Greeley, the moralist and reformer, and Bennett, the cynical, non-moral news-monger. He was able to interest friends in raising the hundred thousand dollars that he thought essential to the success of his enterprise. This sum is significant of the development of American daily journalism, for Greeley had started the "Tribune" only ten years earlier with a capital of one thousand dollars, and Bennett had founded the "Herald" with nothing at all. On this sound financial basis, Raymond began the career of the "New York Times" with his business partner George Jones on September 18, 1851, and made it a success from the outset. He perfected his news-gathering forces and brought into play his intimate acquaintance with men of affairs to open up the sources of information. Above all he set a new standard for foreign service. The American public never had a more general and intelligent interest in European affairs than in the middle years of the 19th century. The leading papers directed their best efforts toward sustaining and improving their foreign service, and Raymond used a brief vacation in Europe to establish for his paper a system of correspondence as trustworthy, if not as inclusive, as that of the "Herald" or "Tribune". If our newspapers today are immeasurably in advance of those of sixty years ago in almost every field of journalism, there is only here and there anything to compare in worth with the foreign correspondence of that time. The men who wrote from the news centers of Europe were persons of wide political knowledge and experience, and social consequence. They had time and ability to do their work thoroughly, carefully, and intelligently, innocent of superficial effort toward sensation, of the practices of inaccurate brevity and irresponsible haste, which began with the laying of the Atlantic cable.