"In the capabilities of life, in bold undertakings, in the concealed treasures of the earth, which require development, and in the outlay of capital; in new discoveries, in the extension of the means of communication, in the increase of luxury, in the follies of mankind, in the exertions made by scientists; and especially in the money-box where small capitalists keep their gold, which should circulate through large channels to be of use. The number of small capitals should be thrown into one large, commercial mart, and by means of this credit every gulden would bring in three times its value. This is the art of the American; this is how to make a pile of gold. It is a splendid art, an honest art, and it seems to thrive with those who adopt it."
When he had concluded this rather long-winded exordium, Felix threw himself back in his chair with an air as who should say, "Are you not dazzled with the brilliancy of my conception? Is not Felix Kaulmann one of the greatest financiers of the day? Surely you are convinced that he is."
So far as that went, the name had a fair reputation. The Kaulmanns had always been in finance, and were well-known bankers. Of late, since Felix had inherited the business from his father, the firm were more before the public. Ivan knew his old schoolfellow well; he looked at him now quietly.
"How do you propose to make a pile out of my pit?"
"I have a big scheme in my head."
"But the whole pit is anything but big."
"So it appears to you, because you don't view it from my standpoint. You have sought for diamonds in the mine, but it has never occurred to you that there may be iron ore. This pit produces, you tell me, a profit of ten thousand gulden; that is the interest of two hundred thousand florins. I can get you a company who will buy the whole place out and out for two hundred thousand florins."
"But I would not part with my pit at any price. I am here in my element, like the mud-worm in the mud."
"You need not leave it—certainly not; on the contrary, if you wished to go, I would keep you chained, if necessary. The company will start with a recognized capital of four millions; we will form a large business, which on one side will ruin Prussian coal, on the other side will drive the English iron out of market. You shall be the principal director of the business, with a yearly salary of ten thousand florins, and two shares in the business; besides which you will be allowed to take, if you wish it, a portion of the purchase-money in bonds at par, and these will bear interest at twenty per cent. You will enjoy an income of thirty thousand florins, instead of your beggarly ten thousand florins, which you now have, and, into the bargain, hardly any work."
Ivan listened to this proposal without interrupting the speaker. When Felix had finished, he said, in a calm voice—