"I now come to that point in my letter which may be termed the chief or cardinal point, namely, our relations with Worse.
"In our correspondence we have never treated particularly of this affair; nevertheless, I seem to have observed that it was only your filial respect which restrained you from criticising my conduct in admitting Jacob Worse into the firm.
"For this reason, my dear Christian Frederik, I will speak out once for all, and say that it was neither more nor less than the salvation of the firm.
"It may be that there is something humiliating in this avowal; but, for my part, I can only say that it would have been far more humiliating and more injurious to our credit to have secretly accepted a subvention from one of our own employés.
"It was I, therefore, who proposed the change in the firm; for I considered such an open proceeding, not only more in consonance with our reputation, but also with the highest commercial principles. I will not deny, however, that the change of the firm's name cost me a struggle, and I am not blind to the complications to which it may lead.
"I have of late carefully considered all this, and it is my purpose to inform you in this letter of the present condition of affairs, and briefly to confide to you the plan which I propose to follow, and which I hope to carry out in the future.
"Our old Jacob Worse is very ill, and, after a visit which I paid to his sick-bed a few days since, I can have but little doubt—I regret to say—that his days are numbered. His marriage, as I both thought and predicted, has brought him little happiness.
"His wife, as you know, is one of the religious enthusiasts, and of late years she, in conjunction with her mother and the rest of the pious folks, have succeeded in spoiling our old Worse to such an extent that I do not care to sully this paper by a description of his lamentable decadence. I shall, therefore, restrain my grief and anger, and will confine myself to business matters.
"When Jacob Worse dies—and, considering his present condition, one can only wish him a speedy and painless departure—it will be necessary to divide his property between his widow and the son of his first marriage, which may entail complications as regards the firm.
"In order to avoid this as much as possible, I have made up my mind to offer to young Romarino Worse, when the time arrives, a sum of money in lieu of a position in the firm. I am inclined to think that he will acquiesce, partly because, according to my slight knowledge of his character, a considerable sum, either in cash or convertible security, will be much appreciated by him.