ledge, and deceived you by a false ledger, has often weighed heavily
upon my conscience, I assure you. It is a relief to me to have told you
all."

"Drop the subject, then," Ezra said curtly. "I must put up with it, for
I have no redress. The thing is done and nothing can undo it; but I
consider that you have willfully wasted the money."

"Believe me, I have tried to act for the best. The good name of our
firm is everything to me. I have spent my whole life in building it up,
and if the day should come when it must go, I trust that I may have gone
myself. There is nothing which I would not do to preserve it."

"I see they want our premiums," Ezra said, glancing at the open letter
upon the table. "How is it that none of those ships go down?
That would give us help."

"Hush! hush!" John Girdlestone cried imploringly. "Speak in a whisper
when you talk of such things."

"I can't understand you," said Ezra petulantly. "You persistently
over-insure your ships, year after year. Look at the _Leopard_; it is
put at more than twice what she was worth as new. And the _Black
Eagle_, I dare say, is about the same. Yet you never have an accident
with them, while your two new uninsured clippers run each other down."

"Well, what more can I do?" replied the merchant "They are thoroughly
rotten. I have done nothing for them for years. Sooner or later they
must go. I cannot do any more."

"I'd make 'em go down quick enough," muttered Ezra, with an oath.
"Why don't you make old Miggs bore a hole in them, or put a light to a
barrel of paraffin? Bless your soul! the thing's done every day.
What's the use of being milk-and-watery about it?"

"No, no, Ezra!" cried his father. "Not that--not that. It's one thing
letting matters take their course, and it is another thing giving
positive orders to scuttle a ship. Besides, it would put us in Miggs'
power. It would be too dangerous."

"Please yourself," said Ezra, with a sneer. "You've got us into the
mess and you must take us out again. If the worst comes to the worst
I'll tell you what I'll do. I'll marry Kate Harston, wash my hands of
the firm, leave you to settle matters with the creditors, and retire
with the forty thousand pounds;" with which threat the junior partner
took up his hat and swaggered out of the office.

After his departure, John Girdlestone spent an hour in anxious thought,
arranging the details of the scheme which he had just submitted to his