What was the first mass-merchandized children's franchise?

by LeRoienJaune

Today, we're used to toys being tied in with movies, games, books, sippy cups, and every other conceivable piece of merch that could bear an icon. What was the first fictional franchise to really market itself as merchandise across a wide range of products? Buck Rogers? Flash Gordon? Mickey Mouse?

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It looks like the most clear cut answer is Peter Rabbit in 1902, with the books, followed by dolls and nursery wallpaper as well as an unreleased board game. If someone posts a good reply, please let me know, I'll delete this.

(http://www.wipo.int/export/sites/www/copyright/en/activities/pdf/wo_inf_108.pdf and http://en.wikipedia.org/wiki/The_Tale_of_Peter_Rabbit#Merchandising)