‘Why, then, my dear old man, you must go in for the whitewash.’

‘The what?’

‘The whitewash. Go through the Court—the Bankruptcy Court.... Oh, you need not look so glum over it, for it is quite the pleasantest way of getting out of a difficulty, and every sensible man does it. I’ve been through the Court twice myself, and only want to go through it a third time in order to be certain of success. I assure you the Court of Bankruptcy is the gateway to fortune. Look at’——

He ran over a long list of notable commercial men who had undergone ‘the whitewash,’ as he termed it, in his flippant way, who had never done any good until they underwent the ordeal, and who were now wealthy and respected. He spoke of them with genuine admiration, and concluded with the declaration of his ambition to go through the Court once again: then, success was certain.

Philip stared at him. Surely the man would not dare to jest at such a time as this; and yet the species of consolation he offered him was very like a cruel jest. But it was impossible to look at Wrentham’s cheerful confident countenance and doubt his sincerity.

‘If the object I had in view had been different from what it is,’ Philip said coldly, ‘and if the money had been my own, probably I should not have felt the loss as I do.’

‘That’s just where I don’t understand you. The beauty of it to me is that the money was not your own—if it had been, I should have sung another tune. But it’s nonsense to think that anybody can be desperately upset when they are only losing other people’s money.’

Philip turned weariedly to the window: it was a hopeless endeavour to get this man to understand his sentiments on this subject.

‘Come, come; cheer up, old man—things never turn out so bad as they look. I know Shield has plenty, and he’ll stump up. If he doesn’t, why, there’s the Court open to you, and you can start again fresher than ever.’

‘We need not talk further on the subject at present,’ said Philip, turning round. ‘I shall wait till eleven o’clock, and if there is no message by that time, I go to Willowmere. Should I not call at the office on my way back, come here in the afternoon and let me know what is doing.’