Hayes shrugged. "That must be as you like, but I'm able to give you a better price than anybody else. I have an object for buying the farms and, if necessary, would pay something near their proper value, without taking off much for the debt. Anyhow, you had better look at this statement of your liabilities."
Osborn studied the document with a hopeless feeling. Things were worse than he had feared and it cost him an effort to pull himself together when he looked up.
"Why do you want to buy?" he asked.
"Well, you see, the land between Forsyth's and the dale-head is heavily mortgaged, and, taking the two farms with the others, would make a compact block that could be economically worked. The new estate would run down to Tarnside, and since you may find it needful to sell the house, I might make you an offer."
"But the consolidation wouldn't help you," Osborn remarked with a puzzled look. "It would, perhaps, be an advantage for the mortgage holders."
"I hold the mortgages," Hayes said quietly.
Osborn started. "But," he stammered, "I got the money from somebody else."
"That is so. I bought the other debts, and supplied the funds when you raised new loans."
"You bought the debts with my money!" Osborn exclaimed. "You used your post to rob me of my estate!"
"I suppose one must make allowances, but you are unjust. You got the proper value for the land you pawned, and squandered the money. The consequence was inevitable and it's futile to complain. For that matter, it is not altogether unusual for a landlord and his steward to change places."