held the unpleasant spectacle of women
gambling publicly in the funds; but it was in driblets, compared to
what you will see here."

While speaking, John Effingham led the way upstairs into the office
of one of the most considerable auctioneers. The walls were lined
with maps, some representing houses, some lots, some streets, some
entire towns.

"This is the focus of what Aristabulus Bragg calls the town trade,"
said John Effingham, when fairly confronted with all these wonders.
"Here, then, you may suit yourself with any species of real estate
that heart can desire. If a villa is wanted, there are a dozen. Of
farms, a hundred are in market; that is merely half-a-dozen streets;
and here are towns, of dimensions and value to suit purchasers."

"Explain this; it exceeds comprehension."

"It is simply what it professes to be. Mr. Hammer, do us the favour
to step this way. Are you selling to-day?"

"Not much, sir. Only a hundred or two lots on this island, and some
six or eight farms, with one western village."

"Can you tell us the history of this particular piece of property,
Mr. Hammer?"

"With great pleasure, Mr. Effingham; we know you to have means, and
hope you may be induced to purchase. This was the farm of old Volkert
Van Brunt, five years since, off of which he and his family had made
a livelihood for more than a century, by selling milk. Two years
since, the sons sold it to Peter Feeler for a hundred an acre; or for
the total sum of five thousand dollars. The next spring Mr. Feeler
sold it to John Search, as keen a one as we have, for twenty-five
thousand. Search sold it, at private sale, to Nathan Rise for fifty
thousand, the next week, and Rise had parted with it, to a company,
before the purchase, for a hundred and twelve thousand cash. The map
ought to be taken down, for it is now eight months since we sold it
out in lots, at auction, for the gross sum of three hundred thousand
dollars. As we have received our commission, we look at that land as
out of the market, for a time."

"Have you other property, sir, that affords the same wonderful
history of a rapid advance in value?" asked the baronet.

"These walls are covered with maps of estates in the same
predicament. Some have risen two or three thousand per cent. within
five years, and some only a few hundred. There is no calculating in
the matter, for it is all fancy."

"And on what is this enormous increase in value founded?--Does the
town ex