He paused. Renée suffered as she looked at him, while he made a large hole in the cinders to bring the end of a log among them. He was approaching a delicate matter.
"As you will understand, I was obliged to make your money yield a high interest. The funds are in safe hands, be assured of that. As for the amount coming from your property in Sologne, it partly served to pay for the house we live in, the remainder is invested in an excellent affair, the Société Générale of the Ports of Morocco. We are not settling accounts, are we? but I want to prove to you that very often we poor husbands are not judged at our worth."
A powerful motive must have impelled him to lie a little less than usual. The truth was that Renée's dowry had for a long time ceased to exist; it had simply become a fictitious asset in Saccard's safe. Although he paid the interest at the rate of two or three hundred per cent, he could not have produced a single security, or have found the smallest solid particle of the original capital. As he half confessed, the five hundred thousand francs derived from the Sologne property had served to give something on account for the house and the furniture, which between them had cost nearly two millions of francs. Saccard still owed a million to the upholsterer and the builder.
"I don't claim anything from you," said Renée at last, "I know that I owe you a deal of money."
"Oh! my dear," he exclaimed, taking hold of his wife's hand, but without relinquishing the tongs, "what a bad idea you have of me! In two words, now, I have been unlucky at the Bourse, Toutin-Laroche has been playing some foolish pranks, and Mignon and Charrier are a couple of brutes who have swindled me. And that is why I can't pay your bill. You will forgive me, won't you?"
He seemed really moved. He thrust the tongs between the logs and made the sparks dart forth like rockets. Renée remembered how nervous he had seemed for some time past. But she was unable to penetrate the astonishing truth. Saccard had reached the point that he had to accomplish a miracle every day. He resided in a house which had cost two millions of francs, he lived on the footing of a prince's civil list, and yet on certain mornings he had not a thousand francs in his safe. His expenditure did not seem to diminish, however. He lived upon debt among a people of creditors who swallowed up, day by day, the scandalous profits which he realised by certain transactions. In the meantime, at the same moment indeed, companies crumbled around; before him yawned fresh and deeper pits, over which he had to spring, being unable to fill them up. He thus went on over mined ground, amid a continuous crisis, settling bills of fifty thousand francs, and not paying his coachman's wages, still marching on with an assurance which became more and more regal, and emptying over Paris, more ragefully than ever, his empty safe, whence the golden river of legendary source still continued to flow.
The times were momentarily bad for speculation. Saccard was the worthy offspring of the Hôtel de Ville. Like Paris, he had been eager for transformation, feverishly bent upon enjoyment, and blindly lavish in expenditure. And at this moment, like the city itself, he found himself in the presence of a formidable deficit which it was necessary he should make good secretly; for he would not hear speak of sobriety, economy, calm, and simple life. He preferred to retain the useless luxury and real misery of these new thoroughfares, whence he had derived that colossal fortune ushered each morning into being, but always swallowed up when evening came. Passing from adventure to adventure, he now only possessed the gilded façade of an absent capital. In that time of fierce madness, Paris herself did not engage her future with less self-restraint, or march more straightly towards every folly and every financial trickery. The liquidation threatened to be a terrible one.
The finest speculations fell through in Saccard's hands. As he confessed, he had just experienced considerable losses on the Bourse. M. Toutin-Laroche had almost capsized the Crédit Viticole by a "bulling" game which had suddenly turned against him; fortunately the government, intervening secretly, had reset the famous farmers' loan machine on its legs. Saccard—already badly shaken by this double blow, warmly rated by his brother the minister on account of the danger which had threatened the delegation bonds of the city of Paris, compromised at the same time at the Crédit Viticole—was yet even unluckier in his speculations in house property. Mignon and Charrier had altogether ceased dealing with him. If he accused them it was because he was secretly enraged to think that he had blundered by building on his share of the land, whilst they prudently sold theirs. While they were netting a fortune, he remained hampered by his houses which he was often only able to dispose of at a loss. Among others he sold a mansion in the Rue de Marignan, on which he still owed three hundred and eighty thousand francs, for three hundred thousand. He had certainly invented a dodge worthy of him, which consisted in demanding ten thousand francs for a flat worth eight thousand at the most. The frightened tenant only signed a lease when the landlord consented to make him a present of the first two years' rent; the apartment was thus brought down to its real value, but the lease enunciated the figure of ten thousand francs, and when Saccard found a purchaser and capitalized the income of the property the valuation proved most fantastic. He could not apply this swindle on a large scale as his houses did not let; indeed he had built them too soon; the clearings, amid which they were so to say lost, in the mud and the winter cold, isolated them and lowered their value considerably. The affair, which affected Saccard the most, was the vulgar swindle of Messieurs Mignon and Charrier, who bought back from him the mansion which he had been compelled to give up building on the Boulevard Malesherbes. The contractors were at last smitten with the desire of residing on "their Boulevard." As they had sold their share of the building plots at a profit, and scented the embarrassed circumstances of their ex-partner, they offered to rid him of the enclosure in the centre of which the mansion rose to the flooring of the first storey, where the iron girders were partly placed. Only they talked of the solid foundations in cut stone as "useless rubbish," saying that they would have preferred the soil to be bare so as to build upon it according to their taste. Saccard had to sell, without taking the hundred and odd thousand francs which he had already expended into account. And what exasperated him the more was that the contractors would never agree to take the ground back at the rate of two hundred and fifty francs the metre, at which figure it had been valued when the plots were shared. They knocked off twenty-five francs per metre, like those second-hand dealers who will only give four francs for an object which they sold for five the day before. Forty-eight hours later, Saccard had the grief of seeing an army of masons invade the enclosure and continue building upon the so called "useless rubbish."
He thus played the impecunious all the better before his wife, as his affairs were becoming more and more muddled. He was not the man to confess himself for the simple love of truth.
"But if you find yourself embarrassed," said Renée with an air of doubt, "why did you buy me that aigrette and necklace which cost you, I believe, sixty-five thousand francs? I have no use for those jewels and I shall be obliged to ask your permission to dispose of them so as to give Worms something on account."