In those months which followed there were few indeed who did not suffer in the almost universal financial cataclysm. All that Contini and others, older and wiser than he, had predicted, took place, and more also. The banks refused discount, even upon the best paper, saying with justice that they were obliged to hold their funds in reserve at such a time. The works stopped almost everywhere. It was impossible to raise money. Thousands upon thousands of workmen who had come from great distances during the past two or three years were suddenly thrown out of work, penniless in the streets and many of them burdened with wives and children. There were one or two small riots and there was much demonstration, but, on the whole, the poor masons behaved very well. The government and the municipality did what they could—what governments and municipalities can do when hampered at every turn by the most complicated and ill-considered machinery of administration ever invented in any country. The starving workmen were by slow degrees got out of the city and sent back to starve out of sight in their native places. The emigration was enormous in all directions.

The dismal ruins of that new city which was to have been built and which never reached completion are visible everywhere. Houses seven stories high, abandoned within a month of completion rise uninhabited and uninhabitable out of a rank growth of weeds, amidst heaps of rubbish, staring down at the broad, desolate streets where the vigorous grass pushes its way up through the loose stones of the unrolled metalling. Amidst heavy low walls which were to have been the ground stories of palaces, a few ragged children play in the sun, a lean donkey crops the thistles, or if near to a few occupied dwellings, a wine seller makes a booth of straw and chestnut boughs and dispenses a poisonous, sour drink to those who will buy. But that is only in the warm months. The winter winds blow the wretched booth to pieces and increase the desolation. Further on, tall façades rise suddenly up, the blue sky gleaming through their windows, the green moss already growing upon their naked stones and bricks. The Barbarini of the future, if any should arise, will not need to despoil the Colosseum to quarry material for their palaces. If, as the old pasquinade had it the Barbarini did what the Barbarians did not, how much worse than barbarians have these modern civilizers done!

The distress was very great in the early months of 1889. The satisfaction which many of the new men would have felt at the ruin of great old families was effectually neutralized by their own financial destruction. Princes, bankers, contractors and master masons went down together in the general bankruptcy. Ugo Del Ferice survived and with him Andrea Contini and Company, and doubtless other small firms which he protected for his own ends. San Giacinto, calm, far-seeing, and keen as an eagle, surveyed the chaos from the height of his magnificent fortune, unmoved and immovable, awaiting the lowest ebb of the tide. The Saracinesca looked on, hampered a little by the sudden fall in rents and other sources of their income, but still superior to events, though secretly anxious about Orsino's affairs, and daily expecting that he must fail.

And Orsino himself had changed, as was natural enough. He was learning to seem what he was not, and those who have learned that lesson know how it influences the real man whom no one can judge but himself. So long as there had been one person in his life with whom he could live in perfect sympathy he had given himself little trouble about his outward behaviour. So long as he had felt that, come what might, his mother was on his side, he had not thought it worth his while not to be natural with every one, according to his humour. He was wrong, no doubt, in fancying that Corona had deserted him. But he had already suffered a loss, in Maria Consuelo, which had at the time seemed the greatest conceivable, and the pain he had suffered then, together with, the deep though, unacknowledged wound to his vanity, had predisposed him to believe that he was destined to be friendless. The consequence was that a very slight break in the perfect understanding which had so long existed between him and his mother had produced serious results. He now felt that he was completely alone, and like most lonely men of sound character he acquired the habit of keeping his troubles entirely to himself, while affecting an almost unnaturally quiet and equable manner with those around him. On the whole, he found that his life was easier when he lived it on this principle. He found that he was more careful in his actions since he had a part to sustain, and that his opinion carried more weight since he expressed it more cautiously and seemed less liable to fluctuations of mood and temper. The change in his character was more apparent than real, perhaps, as changes of character generally are when not in the way of logical development; but the constant thought of appearances reacts upon the inner nature in the end, and much which at first is only put on, becomes a habit next, and ends by taking the place of an impulse.

Orsino was aware that his chief preoccupation was identical with that which absorbed his mother's thoughts. He wished to free himself from the business in which he was so deeply involved, and which still prospered so strangely in spite of the general ruin. But here the community of ideas ended. He wished to free himself in his own way, without humiliating himself by going to his father for help. Meanwhile, too, Sant' Ilario himself had his doubts concerning his own judgment. It was inconceivable to him that Del Ferice could be losing money to oblige Orsino, and if he had desired to ruin him he could have done so with ease a hundred times in the past months. It might be, he said to himself, that Orsino had after all, a surprising genius for affairs and had weathered the storm in the face of tremendous difficulties. Orsino saw the belief growing in his father's mind, and the certainty that it was there did not dispose him to throw up the fight and acknowledge himself beaten.

The Saracinesca were one of the very few Roman families in which there is a tradition in favour of non-interference with the action of children already of age. The consequence was that although the old Prince, Giovanni and his wife, all three felt considerable anxiety, they did nothing to hamper Orsino's action, beyond an occasionally repeated warning to be careful. That his occupation was distasteful to them, they did not conceal, but he met their expressions of opinion with perfect equanimity and outward good humour, even when his mother, once his staunch ally, openly advised him to give up business and travel for a year. Their prejudice was certainly not unnatural, and had been strengthened by the perusal of the unsavoury details published by the papers at each new bankruptcy during the year. But they found Orsino now always the same, always quiet, good-humoured and firm in his projects.

Andrea Contini had not been very exact in his calculation of the date at which the last door and the last window would be placed in the last of the houses which he and Orsino had undertaken to build. The disturbance in business might account for the delay. At all events it was late in April of the following year before the work was completed. Then Orsino went to Del Ferice.

"Of course," he said, maintaining the appearance of calm which had now become habitual with him, "I cannot expect to pay what I owe the bank, unless I can effect a sale of these buildings. You have known that, all along, as well as I. The question is, can they be sold?"

"You have no applicant, then?" Del Ferice looked grave and somewhat surprised.

"No. We have received no offer."