Presently the two girls withdrew to attend to some household duties, and Haldane, who handed a cigar box around, said to me: "Did you do well last season, Ormesby, and what are your ideas concerning the prospects down here?"
"I was partly fortunate and partly the reverse," I answered. "As perhaps you heard, I put less into stock and sowed grain largely. It is my opinion that, as has happened elsewhere, the plow furrows will presently displace many of the unfenced cattle-runs. It is hardly wise to put all one's eggs into the same basket; but my plowing was not wholly successful, sir."
"It is a long way to Laurentian tide-water, and, assisted by Winnipeg mills, the Manitoba men would beat you," said Haldane, with a shrewd glance at me.
"For the East they certainly would, sir," I answered. "But I see no reason why, if we get the promised railroad, we should not have our own mills; and we lie near the gates of a good market in British Columbia."
Haldane nodded approval, and I was gratified. He was not a practical farmer, but it was said that he rarely made a mistake concerning the financial aspect of any industrial enterprise.
"You may be right. I wish I had taken in the next ranch when I bought Bonaventure. But, from what I gather, you have extended your operations somewhat rapidly. Is it permissible to ask how you managed in respect to capital?"
The speaker's tone was friendly, and I did not resent the question. "I borrowed on interest, sir; after three good seasons I paid off one loan, and, seeing an opportunity, borrowed again. As it happened, I lost a number of my stock; but this year should leave me with much more plowland broken and liabilities considerably reduced."
"You borrowed from a bank?" asked Haldane, and looked a little graver when I answered, "No."
It was, as transpired later, a great pity he spoke again before I told him where I had obtained the money; but fate would have it so.
"I have grown gray at the game you are commencing; but, unless you have a gift for it, it is a dangerous one, and the facilities for obtaining credit are the bane of this country," he said. "I don't wish to check any man's enterprise, but I knew the man who started you, and promised him in his last sickness to keep an eye on you. Take it as an axiom that if you can't get an honest partner you should deal only with the banks. Otherwise the mortgage speculator comes uppermost in the end. He'll carry you over, almost against your wishes, when times are good, but when a few adverse seasons run in succession, he will take you by the throat when you least expect it. Your neighbors are panic-stricken; nobody with money will look at your property, and the blood-sucker seizes his opportunity."