"But it would be very interesting to me," Mrs. Fletcher remarked. "Is there any protection, Mr. Morgan, for people who have invested their little property?"
"Yes; the law."
"But suppose your money is all invested, say in a railway, and something goes wrong, where are you to get the money to pay for the law that will give you rest.i.tution? Is there anything in the State, or public opinion, or anywhere, that will protect your interests against clever swindling?"
"Not that I know of," Morgan admitted. "You take your chance when you let your money go out of your stocking. You see there are so many people who want it. You can put it in the ground."
"But if I own the ground I put it in, the voters who have no ground will tax it till there is nothing left for me."
"That is equality."
"But it isn"t equality, for somebody gets very rich in railways or lands, while we lose our little all. Don"t you think there ought to be a public official whose duty it is to enforce the law gratis which I cannot afford to enforce when I am wronged?"
"The difficulty is to discover whether you are wronged or only unfortunate. It needs a lawyer to find that out. And very likely if you are wronged, the wrongdoer has so cleverly gone round the law that it needs legislation to set you straight, and that needs a lobbyist, whom the lawyer must hire, or he must turn lobbyist himself. Now, a lawyer costs money, and a lobbyist is one of the most expensive of modern luxuries; but when you have a lawyer and lobbyist in one, you will find it economical to let him take your claim and all that can be made out of it, and not bother you any more about it. But there is no doubt about the law, as I said. You can get just as much law as you can pay for. It is like any other commodity."
"You mean to say," I asked, "that the lawyer takes what the operator leaves?"
"Not exactly. There is a great deal of unreasonable prejudice against lawyers. They must live. There is no n.o.bler occupation than the application of the principle of justice in human affairs. The trouble is that public opinion sustains the operator in his smartness, and estimates the lawyer according to his adroitness. If we only evoked the aid of a lawyer in a just cause, the lawyers would have less to do.
"Usually and naturally the best talent goes with the biggest fees."
"It seems to me," said my wife, musing along, in her way, on parallel lines, "that there ought to be a limit to the amount of property one man can get into his absolute possession, to say nothing of the methods by which he gets it."
"That never yet could be set," Morgan replied. "It is impossible for any number of men to agree on it. I don"t see any line between absolute freedom of acquisition, trusting to circ.u.mstances, misfortune, and death to knock things to pieces, and absolute slavery, which is communism."
"Do you believe, Mr. Morgan, that any vast fortune was ever honestly come by?"
"That is another question. Honesty is such a flexible word. If you mean a process the law cannot touch, yes. If you mean moral consideration for others, I doubt. But property acc.u.mulates by itself almost. Many a man who has got a start by an operation he would not like to have investigated, and which he tries to forget, goes on to be very rich, and has a daily feeling of being more and more honorable and respectable, using only means which all the world calls fair and shrewd."
"Mr. Morgan," suddenly asked Margaret, who had been all the time an uneasy listener to the turn the talk had taken, "what is railroad wrecking?"
"Oh, it is very simple, at least in some of its forms. The "wreckers," as they are called, fasten upon some railway that is prosperous, pays dividends, pays a liberal interest on its bonds, and has a surplus. They contrive to buy, no matter of what cost, a controlling interest in it, either in its stock or its management. Then they absorb its surplus; they let it run down so that it pays no dividends, and by-and-by cannot even pay its interest; then they squeeze the bondholders, who may be glad to accept anything that is offered out of the wreck, and perhaps then they throw the property into the hands of a receiver, or consolidate it with some other road at a value enormously greater than the cost to them in stealing it. Having in one way or another sucked it dry, they look round for another road."
"And all the people who first invested lose their money, or the most of it?"
"Naturally, the little fish get swallowed."
"It is infamous," said Margaret--"infamous! And men go to work to do this, to get other people"s property, in cool blood?"
"I don"t know how cool, but it is in the way of business."
"What is the difference between that and getting possession of a bank and robbing it?" she asked, hot with indignation.
"Oh, one is an operation, and the other is embezzlement."
"It is a shame. How can people permit it? Suppose, Mrs. Fletcher, a wrecker should steal your money that way?"
"I was thinking of that."
I never saw Margaret more disturbed--out of all proportion, I thought, to the cause; for we had talked a hundred times about such things.
"Do you think all men who are what you call operating around are like that?" she asked.
"Oh, no," I said. "Probably most men who are engaged in what is generally called speculation are doing what seems to them a perfectly legitimate business. It is a common way of making a fortune."
"You see, Margaret," Morgan explained, "when people in trade buy anything, they expect to sell it for more than they gave for it."
"It seems to me," Margaret replied, more calmly, "that a great deal of what you men call business is just trying to get other people"s money, and doesn"t help anybody or produce anything."
"Oh, that is keeping up the circulation, preventing stagnation."
"And that is the use of brokers in grain and stocks?"
"Partly. They are commonly the agents that others use to keep themselves from stagnation."
"I cannot see any good in it," Margaret persisted. "No one seems to have the things he buys or sells. I don"t understand it."
"That is because you are a woman, if you will pardon me for saying it.
Men don"t need to have things in hand; business is done on faith and credit, and when a transaction is over, they settle up and pay the difference, without the trouble of transporting things back and forth."
"I know you are chaffing me, Mr. Morgan. But I should call that betting."
"Oh, there is a risk in everything you do. But you see it is really paying for a difference of knowledge or opinion."
"Would you buy stocks that way?"
"What way?"
"Why, agreeing to pay for your difference of opinion, as you call it, not really having any stock at all."
"I never did. But I have bought stocks and sold them pretty soon, if I could make anything by the sale. All merchants act on that principle."
"Well," said Margaret, dimly seeing the sophistry of this, "I don"t understand business morality."
"n.o.body does, Margaret. Most men go by the law. The Golden Rule seems to be suspended by a more than two-thirds vote."
It was by such inquiries, leading to many talks of this sort, that Margaret was groping in her mind for the solution of what might become to her a personal question. Consciously she did not doubt Henderson"s integrity or his honor, but she was perplexed about the world of which she had recently had a glimpse, and it was impossible to separate him from it. Subjected to an absolutely new experience, stirred as her heart had never been before by any man--a fact which at once irritated and pleased her--she was following the law of her own nature, while she was still her own mistress, to ponder these things and to bring her reason to the guidance of her feeling. And it is probable that she did not at all know the strength of her feeling, or have any conception of the real power of love, and how little the head has to do with the great pa.s.sion of life, the intensity of which the poets have never in the least exaggerated. If she thought of Mr. Lyon occasionally, of his white face and pitiful look of suffering that day, she could not, after all, make it real or permanently serious. Indeed, she was sure that no emotion could so master her. And yet she looked forward to Henderson"s coming with a sort of nervous apprehension, amounting almost to dread.
XI
It was the susceptible time of the year for plants, for birds, for maids: all innocent natural impulses respond to the subtle influence of spring.
One may well gauge his advance in selfishness, worldliness, and sin by his loss of this annual susceptibility, by the failure of this sweet appeal to touch his heart. One must be very far gone if some note of it does not for a moment bring back the tenderest recollections of the days of joyous innocence.
Even the city, with its ma.s.s of stone and brick, rectangles, straight lines, dust, noise, and fever of activity, is penetrated by this divine suggestion of the renewal of life. You can scarcely open a window without letting in a breath of it; the south wind, the twitter of a sparrow, the rustle of leaves in the squares, the smell of the earth and of some struggling plant in the area, the note of a distant hand-organ softened by distance, are begetting a longing for youth, for green fields, for love. As Carmen walked down the avenue with Mr. Lyon on a spring morning she almost made herself believe that an unworldly life with this simple-hearted gentleman--when he should come into his t.i.tle and estate--would be more to her liking than the most brilliant success in place and power with Henderson. Unfortunately the spring influence also suggested the superior attractiveness of the only man who had ever taken her shallow fancy. And unfortunately the same note of nature suggested to Mr. Lyon the contrast of this artificial piece of loveliness with the domestic life of which he dreamed.
As for Margaret, she opened her heart to the spring without reserve. It was May. The soft maples had a purple tinge, the chestnuts showed color, the apple-trees were in bloom (all the air was full of their perfume), the blackbirds were chattering in convention in the tall oaks, the bright leaves and the flowering shrubs were alive with the twittering and singing of darting birds. The soft, fleecy clouds, hovering as over a world just created, seemed to make near and partic.i.p.ant in the scene the delicate blue of the sky. Margaret--I remember the morning--was standing on her piazza, as I pa.s.sed through the neighborhood drive, with a spray of apple-blossoms in her hand. For the moment she seemed to embody all the maiden purity of the scene, all its promise. I said, laughing: