"We will surprise the ladies," said the baron, and soon the baroness clasped her son in her arms. This was the climax of happiness at the castle. Both parents' eyes glistened whenever they rested on their son. True, some of his expressions and gestures savored of the riding-school, but the baroness only smiled at them all. From time immemorial, indeed, the stable has been for the young cavalier the ante-chamber of the saloon. Eugene soon became supreme among the band of young ladies; he paid visits all around, invited friends in return; in short, one gayety succeeded another.

To all this there was only one drawback of which the baron was conscious. He could no longer live within his income. What had been possible for twenty years now became manifestly an utter impossibility. The winter residence in town, the epaulettes of his son, Lenore's gauzes and laces—even the additional interest of his promissory notes, all tended to embarrass him. The returns from his property were eagerly expected, and already in part forestalled; nor were they increased. Nay, many a projected improvement of former years remained unaccomplished. He had once meant to plant a sandy waste at the extremity of his estate, but even that small outlay was inconvenient, and the yellow sand still glistened in the sun. Again he was obliged to open the inlaid casket, and take out some of the fair parchments, and again his brow grew clouded and his mind troubled; but it was no longer the same agony of anxiety as before: he had had a little practice, and looked at things with a calmer eye. Something would turn up—there would be some way or other of becoming freed from these embarrassments; at most, he need only spend two more winters in town till Lenore's education should be quite completed, and then he would devote himself energetically to the care of his property. Meanwhile, he resolved to talk matters over a little with Ehrenthal, for, on the whole, he was an honorable man, that is, as far as a tradesman could be so; and, what was more, he knew the baron's circumstances exactly, and it was easier to discuss them with him than with a stranger.

As usual, Ehrenthal appeared just when wanted. His diamond breast-pin shone as usual, his obsequious compliments were as ludicrous as ever, and his admiration of the property as boundless. The baron took him all over the farm, and good-humoredly said, "You must give me some advice, Ehrenthal."

Only two or three years had passed since a similar walk over this farm, and how the times had changed! Then, Ehrenthal had to insinuate his advice to the proud baron, and now the baron himself asked him for it.

In the lightest tone that he could assume, he went on to say, "I have had greater expenses than usual this year. Even the promissory notes do not yield enough, and I must therefore think of increasing my income. What would you consider the best means of doing this?"

The usurer's eyes brightened; but he answered, with all due deference, "The baron must be a better judge of that than I can be."

"None of your bargains, however, Ehrenthal. I shall not enter into partnership with you again."

Ehrenthal replied, shaking his head, "There are not, indeed, many such bargains to be made, which I could conscientiously recommend. The baron has five-and-forty thousand dollars' worth of promissory notes. Why do you keep them when they pay so small an interest? If you were, instead, to buy a good mortgage at five per cent, you would pay four per cent to the Joint-stock Company, and one per cent. would be your own; in other words, a yearly addition of four hundred and fifty dollars. But you might make a better thing of them than that. There are many safe mortgages which are offered to sale for ready money, at a great profit to the purchaser. You might, perhaps, for forty thousand dollars, or even less, get a mortgage that would bring you in five per cent. on forty-five thousand dollars."

"I have thought of that," replied the baron; "but the security for such mortgages as these, which come into the hands of you brokers, is exceedingly poor, and I can not rely on it."

Ehrenthal waived off this reproach, and said, in a tone of virtuous indignation against all dealers in insecure mortgages, "For my own part, I am very shy of mortgages altogether, and such as are in the market are not fit for the baron, of course. You must apply to a trustworthy man; your own lawyer, for instance, may be able to procure you a good mortgage."