Begun in 1893 under the patronage of William Waldorf Astor, meant “to encourage the noblest that was being sung in verse or written in plain prose” ( Kinross,570 ), without taking sides in the conflict between the aesthetes and the party of earnestness. Accordingly, it found a place for both Swinburne and Kipling, Verlaine and Henley, Meredith and Hardy, publishing poetry, short stories, serial fiction, and general commentaries in a monthly illustrated format at the price of one shilling. Yet the was more of an illustrated miscellany than a purposeful journal, and its very unwillingness to commit itself reveals a leaning towards the aesthetic camp. The first issue opened with Swinburne's “ ”, and other volumes contain lavish decorations and illustrations, many in the late Pre-Raphaelite style.

Under the editorial direction of Lord Frederick Spencer Hamilton until the turn of the century, became a moderately successful and significant periodical. Twentieth century editors include George Halkett (1901-1905) and Charles Morley (1905-?), who published such notables as Joseph Conrad, Jack London, G.K. Chesterton, Rupert Brooke, and John Masefield. In September of 1914, it merged with, coming to an appropriate conclusion with the beginning of the War and the end of romantic ideals.