"No—no," answered Del Ferice thoughtfully. "No—I daresay it is not so very clear. I wish I could make it clearer. Speculation means gambling only when the speculator is a gambler. Of course there are successful gamblers in the world, but there are not many of them. I read somewhere the other day that business was the art of handling other people's-money. The remark is not particularly true. Business is the art of creating a value where none has yet existed. That is what you wish to do. I do not think that a Saracinesca would take pleasure in turning over money not belonging to him."
"Certainly not!" exclaimed Orsino. "That is usury."
"Not exactly, but it is banking; and banking, it is quite true, is usury within legal bounds. There is no question of that here. The operation is simple in the extreme. I sell you a piece of land on the understanding that you will build upon it, and instead of payment you give me a mortgage. I lend you money from month to month in small sums at a small interest, to pay for material and labour. You are only responsible upon one point. The money is to be used for the purpose stated. When the building is finished you sell it. If you sell it for cash, you pay off the mortgage, and receive the difference. If you sell it with the mortgage, the buyer becomes the mortgager and only pays you the difference, which remains yours, out and out. That is the whole process from beginning to end."
"How wonderfully simple!"
"It is almost primitive in its simplicity," answered Del Ferice gravely. "But in every case two difficulties present themselves, and I am bound to tell you that they are serious ones."
"What are they?"
"You must know how to buy in the right part of the city and you must have a competent assistant. The two conditions are indispensable."
"What sort of an assistant?" asked Orsino.
"A practical man. If possible, an architect, who will then have a share of the profits instead of being paid for his work."
"Is it very hard to find such a person?"