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her of that newer American plutocracy which is steadied by the tradition and habit of great wealth. But it was not so. While his nurture and education had taught him European ideas of a rich man's proper external circumstance; while they had rooted in him an instinct for quiet magnificence, the larger costliness which does not shriek of itself with a thousand tongues; there had been handed on to him nevertheless much of the Forty-Niner and financial buccaneer, his forbear. During that first period of his business career which had been called his early bad manner, he had been little more than a gambler of genius, his hand against every man's--an infant prodigy--who brought to the enthralling pursuit of speculation a brain better endowed than any opposed to it. At St Helena it was laid down that war is une belle occupation; and so the young Manderson had found the multitudinous and complicated dog-fight of the Stock Exchange of New York. Then came his change. At his father's death, when Manderson was thirty years old, some new revelation of the power and the glory of the god he served seemed to have come upon him. With the sudden, elastic adaptability of his nation he turned to steady labour in his father's banking business, closing his ears to the sound of the battles of the Street. In a few years he came to control all the activity of the great firm whose unimpeached conservatism, safety, and financial weight lifted it like a cliff above the angry sea of the markets. All mistrust founded on the performances of his youth had vanished. He was quite plainly a different man. How the change came about none could with authority say, but there was a story of certain last words spoken by his father, whom alone he had respected and perhaps loved. He began to tower above the financial situation. Soon his name was current in the bourses of the world. One who spoke the name of Manderson called up a vision of all that was broad-based and firm in the vast wealth of the United States. He planned great combinations of capital, drew together and centralized industries of continental scope, financed with unerring judgement the large designs of state or of private enterprise. Many a time when he 'took hold' to smash a strike, or to federate the ownership of some great field of labour, he sent ruin upon a multitude of tiny homes; and if miners or steelworkers or cattlemen defied him and invoked disorder, he could be more lawless and ruth
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