an, and, naturally, I shall feather my own nest at
the same time."

"How so?"

"I do not know where I once read this short synopsis of how different
nations acquire money: 'The Hungarian seeks it, the German earns it,
the Frenchman wins it, and the American makes it.' It is a most
characteristic description. You have only to watch the Hungarian, how
he seeks in every hole and puddle for a piece of gold; the German will
work in the sweat of his brow till he gets his reward, a piece of
gold; the light-hearted Frenchman will win the last piece of gold his
victim has; but the Yankee sits in a corner, gnaws his finger-nails,
and makes his pile. Yes, gold lies in undiscovered millions, only
waiting to be 'made.'"

"Where does it lie?"

"In the capabilities of life, in bold undertakings, in the concealed
treasures of the earth, which require development, and in the outlay
of capital; in new discoveries, in the extension of the means of
communication, in the increase of luxury, in the follies of mankind,
in the exertions made by scientists; and especially in the money-box
where small capitalists keep their gold, which should circulate
through large channels to be of use. The number of small capitals
should be thrown into one large, commercial mart, and by means of this
credit every gulden would bring in three times its value. This is the
art of the American; this is how to make a pile of gold. It is a
splendid art, an honest art, and it seems to thrive with those who
adopt it."

When he had concluded this rather long-winded exordium, Felix threw
himself back in his chair with an air as who should say, "Are you not
dazzled with the brilliancy of my conception? Is not Felix Kaulmann
one of the greatest financiers of the day? Surely you are convinced
that he is."

So far as that went, the name had a fair reputation. The Kaulmanns had
always been in finance, and were well-known bankers. Of late, since
Felix had inherited the business from his father, the firm were more
before the public. Ivan knew his old schoolfellow well; he looked at
him now quietly.

"How do you propose to make a pile out of my pit?"

"I have a big scheme in my head."

"But the whole pit is anything but big."

"So it appears to you, because you don't view it from my standpoint.
You have sought for diamonds in the mine, but it has never occurred to
you that there may be iron ore. This pit produces, you tell me, a
profit of ten thousand gulden; tha