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" "NOVEL, n. A short story padded. A species of composition bearing the same relation to literature that the panorama bears to art. As it is too long to be read at a sitting the impressions made by its successive parts are successively effaced, as in the panorama. Unity, totality of effect, is impossible; for besides the few pages last read all that is carried in mind is the mere plot of what has gone before. To the romance the novel is what photography is to painting. Its distinguishing principle, probability, corresponds to the literal actuality of the photograph and puts it distinctly into the category of reporting; whereas the free wing of the romancer enables him to mount to such altitudes of imagination as he may be fitted to attain; and the first three essentials of the literary art are imagination, imagination and imagination. The art of writing novels, such as it was, is long dead everywhere except in Russia, where it is new. Peace to its ashes — some of which have a large sale.
Ambrose Gwinnett Bierce (June 24, 1842 – date of death uncertain; probably late 1912 or early 1914) was an American satirist, critic, short story writer, editor and journalist. He is perhaps most famous for his serialized mock lexicon, The Devil's Dictionary, in which, over the years, he scathed American culture and accepted wisdom by pointing out alternate, more practical definitions for common words.
Biography information from Wikiquote
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The Noser and the Note The Head Rifler of an insolvent bank, learning that it was about to be visited by the official Noser into Things, placed his own personal note for a large amount among its resources, and, gaily touching his guitar, awaited the inspection. When the Noser came to the note he asked, “What’s this?” “That,” said the Assistant Pocketer of Deposits, “is one of our liabilities.” “A liability?” exclaimed the Noser. “Nay, nay, an asset. That is what you mean, doubtless.” “Therein you err,” the Pocketer explained; “that note was written in the bank with our own pen, ink, and paper, and we have not paid a stationery bill for six months.” “Ah, I see,” the Noser said, thoughtfully; “it is a liability. May I ask how you expect to meet it?” “With fortitude, please God,” answered the Assistant Pocketer, his eyes to Heaven raising — “with fortitude and a firm reliance on the laxity of the law.” “Enough, enough,” exclaimed the faithful servant of the State, choking with emotion; “here is a certificate of solvency.” “And here is a bottle of ink,” the grateful financier said, slipping it into the other’s pocket; “it is all that we have.