When Henry J. Raymond and George Jones founded The New York Daily Times in 1851, they never could have dreamed the empire that it would become. They created the paper becuase they felt that there was a need for a newspaper known for itself instead of for its owner, as many newspapers of the time were.
Although the name had already been used for five other papers, this version of The New York Daily Times became known as one of the best in the penny-press era. The paper and its owners took themselves very seriously, and said that the paper was “a newspaper for today and for history.”
Raymond and Jones split the business responsibilities. Raymond was the editor, and Jones took care of the business side. They are said to have begun the specialization of departments in the newsroom. Raymond died at a fairly young age a few years after the Civil War. Jones took over the editorial department after his death.