The Financier: A Novel

by Theodore Dreiser

One of the interested listeners and spectators at this point was Edward Malia Butler, who had just stepped in from another courtroom where he had been talking to a judge. An obsequious court attendant had warned him that Cowperwood was about to be sentenced. He had really come here this morning in order not to miss this sentence, but he cloaked his motive under the guise of another errand. He did not know that Aileen was there, nor did he see her.

“As he himself testified at the time of his trial,” went on Steger, “and as the evidence clearly showed, he was never more than an agent for the gentleman whose offense was subsequently adjudicated by this court; and as an agent he still maintains, and two-fifths of the State Supreme Court agree with him, that he was strictly within his rights and privileges in not having deposited the sixty thousand dollars’ worth of city loan certificates at the time, and in the manner which the people, acting through the district attorney, complained that he should have. My client is a man of rare financial ability. By the various letters which have been submitted to your honor in his behalf, you will see that he commands the respect and the sympathy of a large majority of the most forceful and eminent men in his particular world. He is a man of distinguished social standing and of notable achievements. Only the most unheralded and the unkindest thrust of fortune has brought him here before you today—a fire and its consequent panic which involved a financial property of the most thorough and stable character. In spite of the verdict of the jury and the decision of three-fifths of the State Supreme Court, I maintain that my client is not an embezzler, that he has not committed larceny, that he should never have been convicted, and that he should not now be punished for something of which he is not guilty.

“I trust that your honor will not misunderstand me or my motives when I point out in this situation that what I have said is true. I do not wish to cast any reflection on the integrity of the court, nor of any court, nor of any of the processes of law. But I do condemn and deplore the untoward chain of events which has built up a seeming situation, not easily understood by the lay mind, and which has brought my distinguished client within the purview of the law. I think it is but fair that this should be finally and publicly stated here and now. I ask that your honor be lenient, and that if you cannot conscientiously dismiss this charge you will at least see that the facts, as I have indicated them, are given due weight in the measure of the punishment inflicted.”

Steger stepped back and Judge Payderson nodded, as much as to say he had heard all the distinguished lawyer had to say, and would give it such consideration as it deserved—no more. Then he turned to Cowperwood, and, summoning all his judicial dignity to his aid, he began:

“Frank Algernon Cowperwood, you have been convicted by a jury of your own selection of the offense of larceny. The motion for a new trial, made in your behalf by your learned counsel, has been carefully considered and overruled, the majority of the court being entirely satisfied with the propriety of the conviction, both upon the law and the evidence. Your offense was one of more than usual gravity, the more so that the large amount of money which you obtained belonged to the city. And it was aggravated by the fact that you had in addition thereto unlawfully used and converted to your own use several hundred thousand dollars of the loan and money of the city. For such an offense the maximum punishment affixed by the law is singularly merciful. Nevertheless, the facts in connection with your hitherto distinguished position, the circumstances under which your failure was brought about, and the appeals of your numerous friends and financial associates, will be given due consideration by this court. It is not unmindful of any important fact in your career.” Payderson paused as if in doubt, though he knew very well how he was about to proceed. He knew what his superiors expected of him.

“If your case points no other moral,” he went on, after a moment, toying with the briefs, “it will at least teach the lesson much needed at the present time, that the treasury of the city is not to be invaded and plundered with impunity under the thin disguise of a business transaction, and that there is still a power in the law to vindicate itself and to protect the public.

“The sentence of the court,” he added, solemnly, the while Cowperwood gazed unmoved, “is, therefore, that you pay a fine of five thousand dollars to the commonwealth for the use of the county, that you pay the costs of prosecution, and that you undergo imprisonment in the State Penitentiary for the Eastern District by separate or solitary confinement at labor for a period of four years and three months, and that you stand committed until this sentence is complied with.”

Cowperwood’s father, on hearing this, bowed his head to hide his tears. Aileen bit her lower lip and clenched her hands to keep down her rage and disappointment and tears. Four years and three months! That would make a terrible gap in his life and hers. Still, she could wait. It was better than eight or ten years, as she had feared it might be. Perhaps now, once this was really over and he was in prison, the Governor would pardon him.

The judge now moved to pick up the papers in connection with Stener’s case, satisfied that he had given the financiers no chance to say he had not given due heed to their plea in Cowperwood’s behalf and yet certain that the politicians would be pleased that he had so nearly given Cowperwood the maximum while appearing to have heeded the pleas for mercy. Cowperwood saw through the trick at once, but it did not disturb him. It struck him as rather weak and contemptible. A bailiff came forward and started to hurry him away.

“Allow the prisoner to remain for a moment,” called the judge.