"They ought to be jailed," Langdon was drawling with considerable emphasis.

"Who, Mr. Langdon?" inquired Mrs. Fanshaw—she had been as abstracted as Olivia. "You've been filling the jails rapidly to-day, and hanging not a few."

Mrs. Herron laughed. "He says your husband and Mrs. Dumont's and mine should be locked up as conspirators."

"Precisely," said Langdon, tranquilly. "They'll sign a few papers, and when they're done, what'll have happened? Not one more sheep'll be raised. Not one more pound of wool will be shorn. Not one more laborer'll be employed. Not a single improvement in any process of manufacture. But, on the other hand, the farmer'll have to sell his wool cheaper, the consumer'll have to pay a bigger price for blankets and all kinds of clothes, for carpets—for everything wool goes into. And these few men will have trebled their fortunes and at least trebled their incomes. Does anybody deny that such a performance is a crime? Why, in comparison, a burglar is honorable and courageous. HE risks liberty and life."

"Dreadful! Dreadful!" exclaimed Mrs. Fanshaw, in mock horror. "You must go at once, Mowbray, and lead the police in a raid on Jack's office."

"Thanks—it's more comfortable here." Langdon took a piece of a curious-looking kind of hot bread. "Extraordinary good stuff this is," he interjected; then went on: "And I've done my duty when I've stated the facts. Also, I'm taking a little stock in the new trust. But I don't pose as a 'captain of industry' or 'promoter of civilization.' I admit I'm a robber. My point is the rotten hypocrisy of my fellow bandits—no, pickpockets, by gad!"

Olivia looked at him with disapproving interest. It was the first time she had been present at a game of battledore and shuttlecock with what she regarded as fundamental morals. Langdon noted her expression and said to Pauline in a tone of contrition that did not conceal his amusement: "I've shocked your cousin, Mrs. Dumont."

"I hope so," replied Pauline. "I'm sure we all ought to be shocked—and should be, if it weren't you who are trying to do the shocking. She'll soon get used to you."

"Then it was a jest?" said Olivia to Langdon.

"A jest?" He looked serious. "Not at all, my dear Mrs. Pierson. Every word I said was true, and worse. They——"