The office of Mr. Zachariah Blemish was situated in one of the busiest and most respectable portions of the City. There was an air of business about it which unmistakeably stamped its character; its polished mahogany panels seemed absolutely to twinkle with riches. The spirit of pounds, shillings, and pence peeped out of its every corner, and appeared to be cunningly busy over the sum of multiplication--a sum which may be said to comprise the whole duty of mercantile man. The swing-door of the office had a hard time of it--from morn till night it creaked upon its hinges, complainingly. If ever door had occasion to growl that door had. If ever door bemoaned its hard fate, or protested against being worked to death, that door did. Sometimes it sent forth a piteous wail; sometimes a long-sustained groan; sometimes an agonised little squeak, as much as to say, "Now it is all over with me!" But it wailed, and groaned, and squeaked in vain. There was no rest for it. For weeks, and months, and years, it had been flung open with ferocity, and slammed to with vindictiveness; for weeks, and months, and years, it had been pushed and banged with venomous cruelty. But a day came when it rested from its labours, and when its wails, and groans, and squeaks, ceased to be heard.

It is surprising what consternation the simple closing of a door can produce. If the swing-door of the office of Mr. Zachariah Blemish had been aware of the dreadful tremor that thrilled through commercial circles on the day that it hung quiescent on its hinges, it would have squeaked of its own accord with fiendish satisfaction. If it could have seen the dismal faces of those ruthless men who had for years so cruelly pushed, and slammed, and banged it, it would have laughed in its baized sleeve, vindictively. But it had no means of satisfying its vindictive feelings, for it was shut out from the busy world, and a gloomy shade encompassed it.

There was great dismay in the City. The office of Mr. Blemish shut up! What could it mean? Was it a temporary suspension, or a total smash? Why, everybody thought he was rolling in wealth. Everybody asked questions of everybody else. Quite a crowd was congregated outside the office during the whole day; and the outer door was stared at with feelings somewhat akin to awe, as if, like the Sphinx, it contained within its breast the knowledge of an awful mystery. Among the crowd were many members of the Moral Boys' Bootblacking Reformatory, who stood and stared with the rest, wondering what heroic deed their Moral President had performed. In the midst of the general wonderment came whispers of disastrous speculations; losses in sugar, losses in flour, losses in saltpetre, losses in quicksilver, losses by underwriting, and losses by guarantying. Ships had been wrecked, cattle stations had fallen in value, large firms in India had failed, debtors had absconded. But still, these were trifles to a man of such immense wealth as Blemish was reputed to be. And such a moral man, too.

Later in the day, it was reported that a meeting of creditors had been called, and a dark rumour was circulated that the estate would not pay a shilling in the pound. What were his liabilities? Some said fifty thousand pounds, some said a hundred thousand, some said half a million. The smaller sums were soon indignantly rejected, and the liabilities were fixed, to the satisfaction of everybody, at half a million. No--not to the satisfaction of everybody; not at all to the satisfaction of his creditors, who were furious. They were a numerous class, but they were small in number compared to those who were not his creditors. With the public, Mr. Zachariah Blemish had never been so popular as he was now. If he had made his appearance in the streets, he would have been stared at and adulated more than ever. For had he not failed for half a million of money? What a rich, unctuous sound the words had, as they were pronounced! They rolled deliciously round the tongue. Half-a-million of money!

Certainly, he was a public benefactor. If he had poisoned his wife, and murdered every one of his ancient clerks--if he had enticed a dozen inoffensive (and of course lovely) females into his office, and killed them then and there with a deadly vapour--if he had been for years quietly strangling unsuspicious strangers, and hiding their remains in his cellar until it was so full that it could not hold another limb--if he had been the author of any or all of these highly-spiced sensations, he could not have been more popular than he was in the present circumstances of his position. He had provided the public with something to talk about, something that it could take home to its wife, and moralise over, and dilate upon virtuously. It was not every day that a man failed for half-a-million of money, and especially so good a man as Mr. Blemish.

Great was the marvel how he had managed to keep his state unknown and unsuspected for so long a time. For the rumoured losses had not come upon him at once. People had heard him speak, upon various occasions, of losses upon shipments here, of losses upon consignments there, of debtors absconding heavily in his debt, &c., &c.; but he had spoken upon those subjects so pleasantly, that it rather enhanced his credit than otherwise. The impression conveyed was, that those losses had been sustained, but that, large as they were, they were too trifling to a affect the position of such a merchant as Blemish. How had he managed to sustain his credit through all those losses, which now, it was seen, must have been enormous? Why at the time the great banquet was given to him, he must have been hopelessly insolvent! He was certainly a marvellously clever man. He was undoubtedly a very great genius; for he had failed for half-a-million of money!

And Mr. Blemish himself--how did he bear the publication of his downfall? Was he pale, anxious, nervous, humbled, crestfallen? Was he crying and fretting inwardly at his displacement from the pedestal upon which public opinion had seated him? Not at all. He was comfortably located in one of the cosiest rooms of his mansion, in handsome dressing-gown and slippers. He was smoking a fragrant Havanah cigar, and drinking iced claret, which he poured from a costly jug, a portion of one of the numerous testimonials presented to him in the course of his moral career. From where he was sitting, he commanded a view of his garden, wherein were blossoming the choicest exotics. His face was as ruddy and as fat as ever--he looked like a man at peace with himself and with all the world. And yet to-morrow he was to meet a host of furious creditors, men whom he had deceived, robbed, swindled, perhaps ruined. He had given instructions that he was at home to nobody except a legal friend, and he was passing the afternoon luxuriously, and enjoying his leisure as such a moral man as himself deserved to enjoy it.

In the evening he had a long consultation with his lawyer, the most eminent man in the profession. Long statements of accounts were examined and discussed; as to what might be said of this item, and of that. The conversation sometimes assumed an anxious turn, but leisure was found for a little pleasantry. "Do you think it is all right?" asked the honest merchant, the slightest dash of nervousness in his voice. "Quite right," replied the honest lawyer, cheerfully. Then a few documents were burnt, Mr. Blemish devoting an unusual amount of care to so trivial an operation. After which the honest merchant and the honest lawyer shook hands, without any apparent reason, and smiled approvingly at each other. The lawyer being gone, Mr. Blemish retired to rest, and slept as men sleep whose consciences are at ease. When he rose in the morning, he indulged, as usual, in his shower bath, and, strengthened for the battle, issued forth to meet his foes.

Such foes! Such fierce, malignant foes! The meeting had been called in the commercial room of a great hotel; and the atmosphere of the room was surcharged with scowls. The creditors were broken into knots of three and four each, all of whom were recounting their special grievances with glib volubility. Black looks and savage growls fraternised in the cause against the common enemy. Although each sufferer put forward his case as the worst and blackest, there were no particular distinguishing features in them. All the creditors had believed Blemish to be a man of vast means; all had been eager to swell the amount of his indebtedness to them; and all discovered that they had been diddled. That was the word--Diddled. They had no pity for each other. A dreadful selfishness was rampant among them. It was all ME. He deceived ME: he told ME this: he led ME to believe that. It was more than human nature could stand. They lashed themselves into a fury. They ground their teeth, they clenched their fists, they anathematised the name of Blemish. That is, when Blemish was not present; when he made his appearance amongst them, the storm, if it had not passed over, was lulled. The great merchant had contrived to make himself look a shade paler than usual. When he entered the room he bowed gravely to the assembled throng, and said that it would perhaps be as well that they should at once proceed to business. The common sense of the proposal striking every one present, they seated themselves immediately round the long table, and waited in anxious expectation; Mr. Zachariah Blemish being at the head, supported on his right by his legal adviser, who had before him a formidable pile of papers. After a short pause the great merchant said, that no one regretted more than himself the occasion which had called them together. A sarcastic creditor begged Mr. Blemish's pardon: he (the sarcastic creditor) regretted it a great deal more than Mr. Blemish did or could. The interruption was received with approval by the few, with disapproval by the many--by the latter not out of sympathy for Mr. Blemish, but in consequence of their anxiety to hear what he had to say. That gentleman cast a reproachful glance at the sarcastic creditor, a glance which said, "I am the sufferer in this affair, if you please; be good enough to understand that;" and, having thus asserted himself, a victim, whose calamity deserved the respect of every right-minded man, Mr. Blemish proceeded to say that he hoped they would hear him and his legal adviser with patience. He felt how important it was that, at this serious crisis in his career, a proper humility should be exercised towards each other by all parties interested. And, taking into consideration this and the past teaching of his life--which he hoped had been strictly moral--he felt himself called upon, before laying the state of his affairs before the meeting, to pray (and here he raised his eyes devoutly to the ceiling) that their proceedings might be conducted with Christian toleration, and that wisdom would descend upon and guide their deliberations. After giving utterance to this pious expression of his wishes, he closed his eyes, and, slightly raising his hands, appeared to pray for a few moments; and having (like a clergyman bestowing a benediction upon his flock) invoked the blessing of Providence upon his creditors, he motioned to his lawyer, who, shuffling his papers in a business-like manner, opened the ball in a dry matter-of-fact voice.

It was not his business, the lawyer said, to make remarks which would not be considered pertinent to the subject. He believed that the position in which Mr. Zachariah Blemish found himself, commanded the sympathy of every section of the community. (Most of the creditors looked extremely dubious.) Mr. Blemish, a gentleman, a merchant, and a Christian, by his conduct, earned the esteem of all whom he had come in contact, and he trusted to be always able to retain that esteem. His connection with various movements which had for their object the improvement of his fellow man generally--he might mention, among others, the Moral Boys' Bootblacking Reformatory and the Murray Cod Association (Pooh! pooh! from the sarcastic creditor, of which the lawyer took not the slightest notice)--his connection with such associations was enough to prove the kind of man he was. But the profession of which he (the speaker) was a member, could not unfortunately, while in the performance of its duties, take into consideration anything which touched the sympathies. At the present moment he felt this most keenly--for he deeply sympathised with Mr. Blemish's position. But confining himself to hard matter-of-fact, he could not but see that his client had done everything for the best, and that it was only the force of circumstances that had brought him to this pass. Mr. Blemish had struggled for a long time against reverses--against falling markets, against losses by defaulting debtors--but he was unable to hold out any longer. It might be asked, why he had not placed himself in the hands of his creditors before his position had become so desperate as it was now. For it was desperate; there was no denying it. The answer was simple, and easily to be understood. There were in the room many creditors who were merchants. Those men knew how the slightest rumour affected credit, and it was for their sake, as much as for his own, that he had exercised a wise and judicious reticence as to his affairs. Mr. Blemish was always in hopes of being able to redeem his position. There was no chance of effecting this object if his credit were impaired; and so Mr. Blemish carried on business until he was compelled to succumb. He would not detain them any longer with remarks and explanations, but would at once proceed to figures.