Martin, this country is in a perilous condition."
"Good God, your Excellency!" said I, "do you refer to the earthquake?" (There had been a slight shock a few days before.)
"No, sir," he replied, "to the finances. The harbor works have proved far more expensive than I anticipated. I hold in my hand the engineer's certificate that nine hundred and three thousand dollars have been actually expended on them, and they are not finished--not by any means finished."
They certainly were not; they were hardly begun.
"Dear me," I ventured to say, "that seems a good deal of money, considering what there is to show for it."
"You cannot doubt the certificate, Mr. Martin," said the President.
I did doubt the certificate, and should have liked to ask what fee the engineer had received. But I hastily said it was, of course, beyond suspicion.
"Yes," said he steadily, "quite beyond suspicion. You see, Mr. Martin, in my position I am compelled to be liberal. The Government cannot set other employers the example of grinding men down by low wages. However, reasons apart, there is the fact. We cannot go on without more money; and I may tell you, in confidence, that the political situation makes it imperative we should go on. Not only is my personal honor pledged, but the Opposition, Mr. Martin, led by the colonel, is making itself obnoxious--yes, I may say very obnoxious."
"The colonel, sir," said I, with a freedom engendered of dining, "is a beast."
"Well," said the President, with a tolerant smile, "the colonel, unhappily for the country, is no true patriot. But he is powerful; he is rich; he is, under myself alone, in command of the army. And, moreover, I believe he stands well with the signorina. The situation, in fact, is desperate. I must have money, Mr. Martin. Will your directors make me a new loan?"
I knew very well the fate that would attend any such application. The directors were already decidedly uneasy about their first loan; shareholders had asked awkward questions, and the chairman had found no small difficulty in showing that the investment was likely to prove either safe or remunerative. Again, only a fortnight before, the Government had made a formal application to me on the same subject. I cabled the directors, and received a prompt reply in the single word "Tootsums," which in our code meant, "Must absolutely and finally decline to entertain any applications." I communicated the contents of the cable to Se?or Don Antonio de la Casabianca, the Minister of Finance, who had, of course, communicated them in turn to the President.
I ventured to remind his Excellency of these facts. He heard me with silent attention.
"I fear," I concluded, "therefore, that it is impossible for me to be of any assistance to your Excellency."
He nodded, and gave a slight sigh. Then, with an air of closing the subject, he said:
"I suppose the directors are past reason. Help yourself to a brandy and soda."
"Allow me to mix one for you, sir," I answered.
While I was preparing our beverages he remained silent. When I had sat down again he said:
"You occupy a very responsible position here for so young a man, Mr. Martin--not beyond your merits, I am sure."
I bowed.
"They leave you a pretty free hand, don't they?"
I replied that as far as routine business went I did much as seemed good in my own eyes.
"Routine business? including investments, for instance?" he asked.
"Yes," said I; "investments in the ordinary course of business--discounting bills and putting money out on loan and mortgage over here. I place the money, and merely notify the people at home of what I have done."
"A most proper confidence to repose in you," the President was good enough say. "Confidence is the life of business; you must trust a man. It would be absurd to make you send home the bills, and deeds, and certificate, and what not. Of course they wouldn't do that."
Though this was a statement, somehow it also sounded like a question, so I answered:
"As a rule they do me the compliment of taking my word. The fact is, they are, as your Excellency says, obliged to trust somebody."
"Exactly as I thought. And you sometimes have large sums to place?"
At this point, notwithstanding my respect for the President, I began to smell a rat.
"Oh, no, sir," I replied, "usually very small. Our business is not so extensive as we could wish."
"Whatever," said the President, looking me straight in the face, "whatever may be usual, at this moment you have a large sum--a very respectable sum--of money in your safe at the bank, waiting for investment."
"How the devil do you know that?" I cried.
"Mr. Martin! It is no doubt my fault; I am too prone to ignore etiquette; but you forget yourself."
I hastened to apologize, although I was pretty certain the
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