The president was not the ass that Hendrik had called him. His limitations were the limitations of all irreligious people who regularly go to church. He thus attached too much importance to To-day, though perhaps his demand loans had something to do with it. His sense of humor was altogether phrasal, like that of most multimillionaires. But if he was too old a man to be consistently intelligent, he was also an experienced banker. He knew he had to listen or be licked. He decided to listen. He also decided, in order to save his face, to indulge in humorous speech.

"Young man," he asked, with a show of solicitude, "do you expect to become Governor of New York?"

But Hendrik was not in a smiling mood, because he was listening to a speech he was making to himself, and his own applause was distinctly enjoyable, besides preventing him from hearing what the other was saying. That is what makes all applause dangerous. He went on, with an effect of not having been interrupted.

"Machines never mutiny. They, therefore, are desirable in your System. At the same time, the end of all machines is the scrap-heap. Do you expect to end in junk?"

"I was not thinking of my finish," the president said, with much politeness.

"Yes, you are. Shall I prove it?"

"Not now, please," pleaded the president, with a look of exaggerated anxiety at the clock. It brought a flush of anger to Hendrik's cheeks, seeing which the president instantly felt that glow of happiness which comes from gratified revenge. Ah, to be witty! But his smile vanished. Hendrik, his fists clenched, was advancing. The president was no true humorist, not being of the stuff of which martyrs are made. He was ready to recant when,

"Good morning, daddy," came in a musical voice.

Hendrik drew in his breath sharply at the narrowness of his escape. She who approached the purple-faced tyrant was the most beautiful girl in all the round world.

It was spring. The girl had brought in the first blossoms of the season on her cheeks, and she had captured the sky and permanently imprisoned it in her eyes. She was more than beautiful; she was everything that Hendrik Rutgers had ever desired, and even more!