‘I did not want to read those papers, Philip, but—weakness, perhaps—a little anxiety on your account, possibly, compelled me to look over them. I have nothing to say further than this—the experiment is worth making, when you have the means at command. I should have invested the money, and enjoyed myself on the interest. You see’ (there was a curious half-sad, half-mocking smile on his face), ‘I who have known so little pleasure in life, am a strong advocate for the pleasure of others.’

‘And that is very much the same theory which I am trying to work out.’

‘Yes; and I hope you will succeed, but—you are forgetting yourself.’

‘Not at all—my pleasure will be found in my success.’

‘Success,’ muttered Mr Hadleigh, speaking to himself; ‘that is our one cry—let me succeed in this, and I shall be happy!... We must all work it out for ourselves.’ Then, as if rousing from a dream: ‘I hope you will succeed, Philip; but I have no advice to give beyond this—take care of yourself.’

‘That is just what I am anxious for you and’—(he was about to say ‘and Mr Shield;’ but desirous of avoiding any unpleasant element, he quickly altered the phrase)—‘you and everybody to understand. My object is not to establish a new charity, but a business which will yield me a satisfactory income for my personal labour, and a sufficient interest on the capital invested, whilst it provides the same for my work-people, or, as I should prefer to call them, my fellow-labourers. As my returns increase, theirs should increase’——

‘Or diminish according to the result of your speculation?’ interrupted Mr Hadleigh drily.

‘Of course—that is taken for granted. Now, I want you to tell me, do you think this is folly?’

‘No, not folly,’ was the slow meditative reply, ‘if you find pleasure in doing it. My theory is doubtless a selfish one, but it is the simplest rule to walk by—that is, do what is best for yourself in the meantime, and in the end, the chances are that you will find you have also done the best for others. If you believe that this experiment is the most satisfactory thing you can do for yourself, then, it is not folly, even if it should fail.’

‘Thank you. I cannot tell you how much you relieve my mind. I am convinced that in making this experiment I am dealing with a problem of great importance. It is a system by which capital and labour shall have an equal interest in working earnestly for the same end. I want to set about it on business principles. You are the only man of practical experience who has spoken a word of comfort on the subject.’