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The Times is a leading English daily newspaper. It was founded in 1785 as the London Daily Universal Register by John Walter and then sold for 3d an issue. The publication changed its name to The Times (with the subtitle London Daily Universal Register) in 1788, in 1790 raising the cover price to 4d. The Times earned its reputation under John Walter the second, who was appointed manager in 1803 and took over the paper on the death of his father in 1812, through its foreign correspondence and independent criticism of the government. The Times further enhanced its public reputation when, in 1841, it exposed a conspiracy hatched in Belgium to defraud the principal banking houses of Europe.
John Walter the second recognised the importance of foreign correspondents. Previously newspapers had relied upon the government to supply them with news of foreign events. Under John Walters the second, the Times employed its own foreign correspondents, and reported the news of the Battle of Waterloo before the government was aware of it.
The Times under John Walter the third revolutionised the methods newspapers were printed, and the steam powered Walters Press first used in 1869 formed the basis for improvements in newspaper printing that subsequently followed.
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