edward. I don't worry about him; he can die quite comfortably enough on six shillings in the pound. It's one or two of the smaller fry who will suffer.

booth. Now, just explain to me . . I didn't interrupt while Trenchard was talking . . of what exactly did this defrauding consist?

edward. Speculating with a client's capital . . pocketing the gains, cutting the losses; meanwhile paying the client his ordinary income.

booth. So that he didn't find it out?

edward. Quite so.

booth. In point of fact, he doesn't suffer?

edward. He doesn't suffer till he finds it out.

booth. And all that's wrong now is that some of their capital is missing.

edward. [half amused, half amazed at this process of reasoning.] Yes, that's all that's wrong.

booth. What is the ah—deficit? [the word rolls from his tongue.]