Dr. Caldwell at this time edited _Delaplaine's Repository_, and Smith had his revenge in a telling criticism of that work in the _Analectic Magazine_, to which Caldwell replied in 1816. To finish the story, there is to be found in the _Port Folio_ of 1820, page 153, an article on S. S. Smith, with portrait, which is as ample in praise of the essay as Caldwell was liberal in detraction. Caldwell resigned his editorship in 1816. In the next month Oliver Oldschool the Fourth made his appearance in the person of John Elihu Hall.
The magazine was still well manned and well maintained. Philadelphia still kept her leadership in culture and literary production. In 1814 only twenty new books were annually put forth in America, and yet in April of that year the _Port Folio_ declared, "From facts within our own knowledge, we fearlessly assert that Philadelphia contains scholars not a few whom Europe herself would be proud to acknowledge." In 1817 the _London Monthly Magazine_ began to copy from the _Port Folio_.
But about 1820 the prestige of Philadelphia begins to fade and her ancient influences to hang about her "like a giant's robe upon a dwarfish thief." In this year (_Port Folio_, page 463) is heard the first note of alarm. New England is gaining; "with such rivalry Philadelphia must yield the proud title which she has borne, or rouse from the withering lethargy in which she slumbers." New York jealousy is increasing. In 1820 Salmagundi says that "one of the editors of the _Port Folio_ was discharged--for writing common-sense." These trifles indicate a shifting of the balance of power. Three years more, and the cry of discontent and peevish querulousness reaches its height.
"With the exception of some scores of verses 'tempered with lovers' sighs' and oozing from the brains of 'lunatics, lovers and poets,' the last volume contains very few communications from any friend to us and our cause. In the days of our first predecessors such was the number and zeal of contributors that the editor was obliged to exchange the labor of composition for that of selection, and he often expatiated with gratitude upon the learning, the liberality and the industry of his voluntary assistants. Although they wore their visors up before the public, most of them are now known to us, and we can recognize many of them at home and abroad, pushing their fortunes at the bar, in the desk or the academy, or serving their country in high and honorable stations. They were all quickened with the fervid spirit of enterprise and adventure. They combined learning and wit and genius with industry, perseverance and ambition. They laid the foundation of a work which has outlived all its rivals and contemporaries; but they have left few to inherit and emulate their disinterested devotion to the cause of letters.... England, that detestable country where _everyone_ has been starving for the last century, where _everyone_ has been crushed by the load of taxes, and _everyone_ has been flying from home to avoid the oppressions of the Ministry, prints several thousand copies of a magazine, and the whole edition is sold and paid for in twenty-four hours. These matters are ordered differently here. Instead of _purchasing_ our newspapers and magazines we subscribe for them."