Newspaper people, once celebrated as founts of ribald humor and uncouth fun, have of late lost all their gaiety, and small wonder.

In this quote, Russell Baker reflects on how newspaper people, once known for their ribald humor and uncouth fun, have become less cheerful and less irreverent in recent times. He suggests that the once vibrant and bold humor associated with the journalism profession has been replaced by a more somber and restrained tone. The phrase "founts of ribald humor" evokes the idea that journalists were once celebrated for their bold and unfiltered approach to comedy, using humor that pushed boundaries and was often considered provocative.

Baker also points out that this shift in tone is understandable ("small wonder") given the changing landscape of journalism. The decline in humor could be a response to the increasing seriousness of modern news reporting, where the focus has shifted toward more formal, fact-driven narratives. As journalism became more commercialized and professionalized, the space for irreverence and unfiltered fun in the media began to diminish, leading to a more reserved approach in reporting.

The quote suggests that the loss of humor in newspapers is tied to the evolution of the industry, where the focus on entertainment and bold commentary has been replaced by a more business-like and serious tone. This reflects broader cultural shifts, where media outlets became more cautious and politically correct, reducing the space for humor that once made newspapers a platform for social critique and edgy content.

Ultimately, Baker's quote is a lament for the loss of the freewheeling spirit that characterized early journalism. It highlights how the shift toward more professionalized media has come at the cost of gaiety and irreverent humor, suggesting that humor, once a hallmark of journalism, is now a rare and valued commodity in modern media.