And she had struggled valiantly against becoming an embittered old maid; in the main, had succeeded. To the world, at least, she rarely turned a scowl, and she had never lost a friend. But there were times when she hated her parents. Since Isabel's return she had had more than one rebellious hour, for Isabel had taken her life in both hands, snapped her fingers at restraints and small conventions, and, so far, at least, had made good. And the younger girl's development, to one that had known her always, was extraordinary. On the other hand, she exulted in the prospect of a member of the old set coming prominently to the front once more. She had spent a week with Isabel at Old Inn, and received a certain measure of confidence. She hoped that Isabel would really make a fortune, and urged her to follow Gwynne's example and put up a modern building on her San Francisco property. Money was easy to raise, for change and improvement possessed San Franciscans like an epidemic, and few but were not anxious to convert "South of Market Street" into a great business district. Although she was grateful to the new people, particularly Ada Hofer, who, to use the lady's own expression "made things hum," in her heart she disliked the breed, and deeply resented the fact that the old set, even those by no means impoverished, to-day formed little more than a background. They were to be seen everywhere, they were still a power in a way, but they were by no means prosilient. Therefore, as she sat in the old dark dining-room on Russian Hill and listened to Isabel's praise of the interest that Hofer and his set took in the political and artistic regeneration of the city, she was moved to break out tartly:

"Are you giving them credit for altruism? They have their millions invested here, naturally they crave a reasonable prospect of retaining them—also of increasing them by filling Fairmont, and other projected caravansaries for the rich, with winter tourists from the East; possibly Europe. They not only fear the corporation cormorants—whom they can never reach so long as the Board of Supervisors is controlled by the Boss—the Boss himself and all his devouring horde, but the greatest menace of all: that San Francisco will in time, and before very long, be owned body and soul by the labor-unions. Then, even if they managed to save their wealth, the city would be intolerable for the socially ambitious or even the merely refined."

"You are unfair," said Gwynne; "for these men all have enough to pull out and invest elsewhere. They could go to New York and buy a big position, as so many of their predecessors have done. Or to London. Of course no man ever lived that was wholly disinterested, unless he was a fanatic, but it is vastly to the credit of these men that they love their own city, stand by it—determined to make it livable, not only for themselves, but for future generations; instead of moving away and becoming millionaires of leisure."

"Oh yes, I don't deny that they have enthusiasm—the remnant, no doubt, of what in their European ancestors was temperament. Americans don't have temperament. Or if we have we are far too self-conscious to show it. In the East it has been quite eradicated. Out here where gambling is still in the blood—and that blood is mixed—where the air is full of electricity, and the very ground under your feet none too certain, we are a little more primitive; we have an excitability that makes strangers find us more like the Latin races of Europe than our relatives beyond the Rockies. And although the set you admire does not drink, nor live the all-night life, it has its own demands for spice and variety, and its own ways of gratifying them. Love of change, love of any sort of a fight, is in the blood of your true Californian—particularly here in San Francisco, where all the great gambling fevers, from the days of '49 to the wild speculations in Virginia City stocks in '76, have raged up and out. Your friends are merely playing a big game. Successive defeats, and the formidable front of the enemy, make it the more stimulating. They have that fanatical love of San Francisco that every one out here has who doesn't hate it, and they find it more exciting to stay here and gamble for big stakes than to watch their wives spend money in New York, and console them for snubs. Another point—they are far more enterprising than the rich men's sons that preceded this generation—or set, rather. They keep on making money, you may have observed. And fashions change. New York Society is no longer the Mecca of the worldly San Franciscan, and it has also become the fashion to invest huge amounts here; in many cases, entire fortunes. These men really could not pull out without great loss of income, and they all know how safe it is to leave one's interests in other people's hands. In this town, at least, no one has ever done that without regretting it."

"If the fashion has changed I dare say it is these men that have changed it. I always bow to feminine logic, but nothing you have said so far has changed my attitude. Besides, I admire their taste. This is the only part of America that has made any appeal to me, and there is no question that if they force through the Burnham plans, this city, with its wonderful natural advantages, will be as beautiful as ancient Athens. Surely you must admit ideality in men that can conceive such an ideal and cling to it, no matter how forlorn the hope."

"That's just what I object to. The least imaginative of us realizes that nature gave San Francisco a beautiful face and that man has done all he could to scar it. But even did these men obtain control—which they can't short of lynch law—it would take half a century to remove the old city piecemeal. Do you imagine property-owners are going to change their natures and sacrifice profitable office buildings and shops for the sake of widening streets and making boulevards and parks? Do you realize what it would mean in the way of individual sacrifice to build winding roads about these hills instead of the improved and perpendicular gullies we have to-day? Not even your own would do it. They merely dream and talk, although, no doubt, they would make all the changes that promised large personal profits. I suspect that the secret of their zeal is the desire to deflect the tourist tide from south to north."

Gwynne laughed. He was a stubborn idealist, and having found something at last to admire he purposed to hug it. "You belong to the pessimistic camp. I discovered that when you honored Old Inn. And I have lived here long enough to learn that it is full enough. But you are all different from other Americans, and for that reason I find the most discontented of you interesting."

But Miss Montgomery suspected that he was quizzing her and would not be drawn further. Instead, she proposed a walk, and Gwynne in his turn suggested that they go over and look at his property, which he had visited once only. Miss Montgomery knew the history of every house old and new, and told them many anecdotes as they walked down the steep hills or along the cross streets to Kearney, at the base. The new houses had fine gardens, the old ones were gloomy with eucalypti, or ragged with palms, but everywhere were flowers, even at this season, giving an immediate relief to the eye from the long dull perspective. On six days out of the seven the streets were torn with wind when they were not drenched with rain, and in the dry season the dust was intolerable; although San Franciscans vowed it was a part of the picture and missed it when abroad. But gay as certain sections of San Francisco was at night, its residence districts always had a deserted air, and on Sunday nothing could exceed the brown desolation of the shopping streets. From a variety of causes San Franciscans were averse from too much pedestrianism, and one could walk for blocks and pass nothing but an occasional carriage, or the trolley-cars shrieking up and down the hills, or emptying themselves into Kearney and Montgomery streets with the racket of a besieging army.

But this Christmas Day it was clear and warm, and the wind drifted about as if its wings were tired. All the world was on the cable and trolley cars, but bound for park and sea, and in the opposite direction from the three on their way to the valley south of Market Street. Kearney Street would have looked like a necropolis had it not been for several patient horses standing with their feet on the pavement, their ears cocked towards a saloon, or establishment for "rifle practice"; and even Market Street, on week-days barely passable with its trucks, four lines of cars, and a mass of humanity, was almost deserted. They walked past the Palace Hotel, down Second Street, and by many dingy peeling low-browed and entirely hideous shops and flats, with glimpses into unsavory cross streets, until they came to the block owned by the Otises since the early Fifties. Even in its present condition the rents were considerable, and as it was but a stone's-throw from several other new office buildings, there was no question that in the course of a few years the land value would be doubled, and Gwynne regretted being forced to sell a portion of his share in order to be able to erect a building large enough to pay. What was left of Hiram Otis's portion, inherited by Isabel, stood on the opposite corner, and now yielded only ground rent, the old buildings having crumbled on the stock-market. But the land could be sold conditionally, and once more Miss Montgomery suggested building. Gwynne turned to Isabel with interest.

"Do!" he exclaimed. "Come in with us, and we'll put up a larger building. Sell your land and I'll borrow money on one of the ranches, and sell out my Consols. Then I can hold on to all this, and we'll none of us have so long to wait for large returns."