"You have at present, as the result of this ill-fated enterprise, a liability of one hundred and thirty thousand dollars—I think it is." He turned inquiringly to Filmer who nodded, and with him the entire male section of the audience. There was no question about those figures.

"This liability imposes a heavy tax upon an unproductive community, although if you were producers it would be a bagatelle. As against this liability you have, as assets, a certain piece of property and certain water rights secured from the Dominion government, rights which though at present very limited, might be made the basis of further expansion. And that is all you have—a debt, and against it something that is of no use to you."

A chilled surprise trickled through the town hall and Filmer himself, who had been quite unaware how Clark would state his case, began to think that the thing had gone far enough, when the penetrating voice went on.

"Now as to the town itself. I have failed, after a careful survey, to find any evidence of growth. I have seen no new buildings, nor, under the conditions which at present exist and which there is nothing you can do to change, do I see any reason for growth. You do not manufacture or import anything. You have, so to speak, to live on each other, so why should any one come here to settle down?"

Although Clark had said several striking things, there had not been anything which went as straight home as this. All had watched the great procession which passed up and down the river, and wondered why the population of St. Marys remained so stationary, but never had the inescapable truth been thrown so blatantly in their faces as by this magnetic stranger whose clear voice announced those truths which each had been secreting in his heart year after year. They began to wonder why a man of his type should be interested in the town. But the fact that he was interested clothed him with a still more compelling attraction. Visions of a decaying and moss covered settlement were floating through their minds when the voice took on a new note.

"The condition I have touched on is due to lack of three things,—experience, money and imagination, and in such isolated points as this there is little opportunity to acquire any of the three. There is in the rapids unlimited power. It must be developed, and developed on this side of the river. The age of electricity has come. But let us ask ourselves what is the use of power unless there is some practical purpose to which to put it. There is but one answer. Large works—enormous works must be established at the rapids; works that will utilize all the power that is developed, and draw their raw material from the surrounding country. I have an idea that you may consider the district to the north and west a wilderness, but, gentlemen, you are mistaken. I firmly believe it to be a veritable reservoir of wealth."

Here Clark stopped, glanced thoughtfully at Filmer, and poured out a glass of water, while the entire audience took an imaginary journey into the bush to the north in an attempt to discover the reservoir of wealth. This resulted in numerous quiet smiles, each of which died out with a look at the intense earnestness on the speaker's face. There was a certain amount of fur, it was admitted, but the trapping was falling off. There were scattered patches of spruce for pulp wood, but so far as most of them knew the land was poor and rocky and there had been no discovery of valuable mineral. However, silently concluded Clark's hearers, the man might know, and probably did know a good deal more than he said, and just as this opinion was gaining ground, the speaker struck an inspiring note and came to his point.

"Now for my proposal. I believe in the future of this country, in its latent wealth and its possibilities, and I am prepared to take on the town's uncompleted enterprise and assume its one hundred and thirty thousand dollars of liability. Gentlemen, what I have in mind goes further than any of you have ever imagined, and it needs more millions than you have conceived. Millions will be forthcoming. In the financial markets of the world, capital must be assured of certain fundamentals. These fundamentals established, there is no difficulty whatever in securing as much money as may be required. That is my experience, and if you accept my proposition St. Marys will, within a year, begin to feel the influx of money which is seeking investment. Within that year you will hardly be able to recognize your town. Your property, your houses, your farm products will greatly increase in value, and local trade will experience a remarkable impetus. If you ask what are these basic industries which will mean so much, I need only point out that I am assured of an ample supply of pulp wood for very large mills which I propose to erect, and there is, without doubt, iron ore in these hills of yours. This is only a part of my plan."

Again Clark paused, playing with all his power on those who had already grasped something of his vision. Ore had never been found in that part of the country, though innumerable prospectors had toiled through the hills in search of it, but now it seemed that the folk of St. Marys had cast aside their difference and unbelief, and were becoming incorporated in the speaker's high assurance. A little murmur of enthusiasm arose, to be hushed instantly.

"I only want your coöperation. I do not ask that you put in one dollar. There is ample money for the purpose, and I tell you frankly there is no room for yours. It is not my intention to bring in for the purposes of the work anything the town itself can supply, and the more you can organize to supply amongst yourselves, the better pleased I and my associates will be. All I hope is that you participate intelligently and profitably in that which will shortly take place. And first of all it will be my duty and pleasure to supply the town with water and light on terms to be arranged with your council. This will be the smallest and to me the least profitable of our undertakings, but I regard it as an obligation to the town. Ladies and gentlemen, a new era is dawning for St. Marys. Have I your support?"