THE AMERICAN EMPEROR WILLIAM SALISBURY DUKE UNIVERSITY LIBRARY Treasure %oom Digitized by the Internet Archive in 2010 with funding from Duke University Libraries http://www.archive.org/details/americanemperornOOsali THE AMERICAN EMPEROR A NOVEL BY WILLIAM SALISBURY >L NEW YORK The Tabard Inn Press *9'3 Copyrighted, 191 3, by WILLIAM SALISBURY Registered at Stationers' Hall, London (All Hights Reserved) Printed in the United States of America "77. ft. To B. O. FLOWER Founder of The Arena and The Twentieth Century, and last of the independent magazine editors. Chief enlightener as to our feudalism of privileged wealth, you have launched many a brilliant shaft against its aggressions, doing perhaps more than any one other man to stay the coming of the intellectual night which now threatens to descend upon our country. CONTENTS BOOK FIRST— CLAY JEFFERSON GORMAN. CHAPTER PAGE I The Dawning of Ambition I II At Heidelberg 12 III Early Triumphs 18 IV A Honeymoon in Italy 28 V His First Railroad 36 VI Wife and Mistress 48 VII A Profit of One Million 53 VIII His First-Born 58 IX The Great Reorganizer 59 X A Political Contest 65 XI A Speech in the Senate 69 BOOK SECOND— MERCEDES. CHAPTER PAGE I An International Marriage 77 II A Discussion of Heraldry 84 III "The Whipped Dog Fears the Lash" 91 IV A Dream of Empire 98 V The Opinions of Theodora 103 VI Mercedes 108 VII Plans of Rival Financiers 114 VIII The Durkins' Retreat 118 IX A Proposition to a Husband 122 X A Temptation on a Mountain Top 130 CONTENTS BOOK THIRD— GORDON LYLE. CHAPTER PAGE I Four Years in Journalism 137 II He Sees a Vision 145 III The Moonlight Club 151 IV A Letter from Mercedes 160 V Planning to Scale the Alps of Popular Disapproval. 162 VI A Mysterious Tip 166 VII A Substitute Lackey 171 VIII The Creation of a New Monster 175 IX A Second Mysterious Message. 184 X The Coal Trust 191 BOOK FOURTH— THE GREAT BOND CONSPIRACY. CHAPTER • PAGE I Lyle and Mercedes Meet 201 II Delaval Explains the Bond Deal 205 III A Discourse on Republics 214 IV A Yachting Party 220 V Mercedes Leaves the Party 226 BOOK FIFTH— THE OLIGARCHY. CHAPTER PAGB I Some Opinions of Delaval 235 II Lyle Introduces His Wife 241 III Glacken Hall 245 IV Valet and Butler 254 V New Jersey 257 VI Pirates of the Southern Seas 264 VII The Cruise of the Buccaneer 270 VIII The Forward Magazine Is Founded 27s IX The Stock Exchange 277 CONTENTS CHAPTER PAGB X "We Have Exalted Trade Until It Is Seated Upon a Throne" 284 XI Father and Daughter 291 XII The Story of Major Armitage 296 XIII The Dance of the Marionettes 306 BOOK SIXTH— THE EMPEROR. CHAPTER PAGI I The Patron of Art 311 II The Fate of Reform Magazines 315 III Newport 321 IV Inside the Palace 330 V The Dinner 336 VI The Pursuit 342 VII Imperial Revenge 351 VIII The Marble Library 353 IX At the Endowed Theater 359 X "The People Need a Lesson" 367 XI The Prelude 373 XII The Panic 376 XIII The Bal de Tete 387 XIV The Greatest of Them All 393 The American Emperor BOOK FIRST CLAY JEFFERSON GORMAN CHAPTER I THE DAWNING OF AMBITION There was a tumult in the mind of Clay Gorman. Three events had just changed the course of all his thoughts. He had finished reading a "Life of Na- poleon." His rich and powerful uncle from the me- tropolis had shown a deep interest in him. And he had met at a neighbor's house a girl whom he desired as he had never desired anything before. His age was seventeen years, his home a common- place abode in a New England village before the Civil War. He had never traveled more than forty miles from that place. And seventeen is an impressionable age. The emotions and passions are as strong as they ever become, while the mind is at the dawn of its greatest vigor. As Napoleon, by reading of the lives of Caesar, Alex- ander and Mohammed, had been fired with a desire to be like them, so young Gorman now burned to be Napoleonic. The careers of all the martyrs and saints, statesmen and philosophers, artists and poets that he had ever read or heard of did not appeal to him half so strongly as did this story of the Man of Destiny. 2 THE AMERICAN EMPEROR To teach humanity, to uplift, to guide aright or to better the race, or to sacrifice one's life for a great cause — all this seemed to be little worth while com- pared with the glory of the conqueror. To shatter armies and traditions, to wipe out boundary lines, to make kings wait in ante-chambers, to choose what piincess one will wed, to found dynasties and create nobilities — that was the height of earthly achievement. Especially was it glorious for one born of the people. And Napoleon was a "self-made" man, as Clay's uncle was, as most successful Americans were, as Clay him- self intended to be. And Napoleon, he read with secret, self-congratulatory delight, resembled himself in more than one way. The great conqueror had been wont to impress his will upon others at an early age. He had even chastised his elder brother on occasions. So had Clay Gorman. His eyes were blue. So were Clay Gorman's. His hair was dark. So was Clay Gor- man's. And his nose was large — not in the way that Clay Gorman's was, to be sure, but it was large. The conqueror's nasal appendage was greater than the aver- age in size because of its somewhat Romanesque bone structure. Clay Gorman's was exaggerated by a sur- plus of tissue, being slightly bulbous, but its bulk was about the same as that of the masterful Corsican's. Clay's uncle, Asa Gorman, had been successively farmer's son, dry goods clerk, merchant and banker. Years ago he had left this small town of Tilbury, Mas- sachusetts, to find a larger field for his financial oper- ations in New York. He was now on a visit here dur- ing an early summer lull in business, and was filling in some of his leisure hours by instructing the younger son of his brother's widow in the world's ways. The boy's father had died two years before, leaving the THE AMERICAN EMPEROR 3 widow only a small annuity out of his gains as a mer- chant, and her two sons had been compelled to cease their studies at an academy in a nearby town and sup- port themselves by clerking in village stores. Asa Gorman found his nephew a ready listener. Like at least a few of the self-made men of to-day, he was seldom happier than when telling of his own achievements. And what he said now sunk deep into the brain of the ambitious youth. "I've made my money by keeping cool while other people were excited," he said, as he sat on the front porch puffing a fragrant cigar, while Clay inhaled with delight such wreaths as were wafted his way. The very aroma of the choice tobacco had an inspiring effect upon the boy. He resolved then and there to arrive speedily, by hook or crook, to the point where he could hold just such Havanas, in such a white, well manicured hand, and fill the circumambient air with fragrant smoke for others to inhale. "This is the age of commercial opportunity," the uncle went on, philosophically, rubbing his smooth- shaven chin. "All government rests, in the last analy- sis, upon business credit. Take that away, and the whole structure falls. If Napoleon's wars had not bankrupted France, his power would have lasted much longer than it did. (The nephew's interest grew more intense at this point). Upon the ruins of his empire, the Rothschilds built their power. And, by the way, that was the smoothest thing in history, the way old Rothschild hurried to London after Waterloo, and by a lot of half truths, and melancholy shakings of the head, and doleful looks, gave out the impression that Napoleon had won the battle, and then, when prices fell, bought right and left. It's much better to-day to 4 THE AMERICAN EMPEROR be a Rothschild than a descendant of Napoleon, though one of the Bonapartes is seated on a temporary throne. The Rothschilds and other bankers hold the whip hand in the affairs of nations. And they can so manage that no matter which side loses in war, they will win. So can bankers here, if they will only be a little wise. "Now, you're a bright lad, Clay," he went on, light- ing a fresh cigar, and brushing a bit of ashes off the knee of his costly trousers. He turned his deep-set, beady eyes upon his nephew, favoring him with a longer look than he usually gave any one. He was pleased to see a strong, hard-set jaw like his own, and eyes which held a glitter. If those eyes had shone with idealism instead, he would have ended the conversation right there. "You're a bright lad," he repeated, "and you should learn at once that this is the age of money, no matter how much war talk you may hear. And in this country in particular, the man in trade is not looked down upon. Sometimes he can mix politics with his business, but business should come first. My partner, Peyton, tried Congress for a while, but he found, after one term, that he was wasting his time. He could get others to do things for him there much more conveniently than he could do them himself. Those who stick to business and let others chase the butterflies of glory will come out ahead — particularly in America." Much more of the same kind of philosophy was uttered by the uncle that day, and on other days, in this summer of 1856. And as he was to his nephew the living embodiment of success, the impression his words left was deep and lasting. Before he returned to New York, Asa Gorman promised that if Clay made three hundred dollars within a year from that THE AMERICAN EMPEROR 5 date, above his salary as a clerk, he would give him a like sum to do with as he pleased. Nothing was said as to how the money was to be acquired. "This is a country full of opportunities," his uncle told him. "Look about you. I hope you'll develop the right met- tle.'' And he thought of himself as an eagle who throws a fledgling from a nest with a hint that choice morsels of food may be found in the world of experi- ence. His distinguished relative gone. Clay Gorman busied his brain with plans to achieve his first step toward wealth and power. When he and his brother, Zacha- riah, were invited to an evening party at a neighbor's house, the brother was eager to go, but Clay felt that he would be frittering away his time. Such frivolities were for commonplace, unthinking youths and mai- dens, not for dominant personalities such as himself. As he walked down a poplar-shaded lane toward his home in the late afternoon of the day before the party, he was turning over in his mind a plan he had conceived the morning before while selling a railway contractor a pair of suspenders. He had heard the contractor tell the proprietor of the store that he had exhausted his supply of ties with which the railway was being built to Springfield. The road's headquar- ters had been remiss in shipping a badly needed con- signment. At once Clay was reminded of a grove of oaks on a farm near the village. He recalled that the owner of the farm was hard pressed for money because of the illness and death of a child, and that a mortgage on his home was overdue. "I have seventy dollars saved that no one knows of," he thought. "If he will take that as a first payment, and I can get help in cut- 6 THE AMERICAN EMPEROR ting the trees, and pay for the work after I collect from the contractor, I may make some hundreds in profit." But the farmer had demanded a hundred dollars down. Clay suspected that Zachariah had some money. And by spying - upon him that evening through a key- hole (Napoleon had peaked through keyholes), he had seen him secrete a bill in the lining of his Sunday hat. When he accused him of having money that should have been given to their mother, Zachariah confessed that he wanted to surprise her with a silk dress as a birthday present. Clay thereupon deter- mined to get this cash in some way before it was thus uselessly spent. These were the days in which the country was being profoundly stirred by talk of coming war. Sumner's famous speech in the Senate upon the crime against Kansas by the slave power was ringing in the people's' ears with insistent and clamorous note. "The rape of a virgin territory, compelling her to the hateful embrace of slavery," and other powerful phrases were repeated from mouth to mouth. The bodily assault upon the orator by a Congressman had added fuel to the flames. Great souls that were to be tested in the furnace heat of civil conflict were everywhere being exalted for the ordeal. But Clay Gorman did not need to remember his uncle's advice to keep cool. Fine phrases could not sweep him off his feet. Webster's "Liberty and union, now and forever, one and inseparable," Seward's "irre- pressible conflict," Lincoln's "a house divided against itself cannot stand," to him meant only that the North was bent on keeping the South within the Union at any cost. The poems of Whittier, the speeches of William Lloyd Garrison and Wendell Phillips, pulpit prayers THE AMERICAN EMPEROR 7 and fulminations, John Brown's heroic death-all m these roused in him only thoughts of how he could become an officer if war came, or whether, by his uncle's aid, he could make money from army contracts When he reached home the next evening he found his brother all ready for the party. Zachanah had usually ignored him in his social plans, looking down upon him from the height of superior years until Clay had shown ability to chastise him. And now, in a spirit of generosity born of respect for superior muscles Zachanah urged him to put on his best coat and hat and accompany him. He even promised to lend him a new silk cravat, and to pay for a shave at a barber shop a sybaritic luxury that was a great bribe in itself to almost any rural youth. With that hidden money in mind, Clay was already more than half inclined to go. Frivolity would have its uses if it helped him along the road to ultimate riches. "Where is the party ?" he asked. "At the Pembrokes'." "The Pembrokes' ! Why didn't you tell me that be- fore ? " He made the most careful toilet of his life, including a fancy waistcoat which his uncle had left behind upon discovering that their sizes were the same. The brothers arrived late, and found many guests already assembled. Wax candles glittered in every window, and brilliant chandeliers lighted the broad hallway and the drawing room, these things alone being evidence of wealth. The house was of a substan- tial Colonial style. The Pembrokes were rated socially as the county's best, and Clay Gorman thought them the most worthy of cultivation of anyone he knew. A grandfather of the present head of the house, by 8 THE AMERICAN EMPEROR bestowing upon an early Legislature a testimony in currency of his esteem, had received a land grant that yielded his descendants a large income in rents. Part of this income had been so judiciously used that char- ters for water power rights and for railway lines had vastly increased the family's wealth. They had acquired, among other things, an escutcheon. Clay Gorman felt that his own ancestors had failed signally to take advantage of similar opportunities in the new republic. Both wealth and a family shield should some day be his, he resolved. Marie Dalton was the first girl introduced to him that evening. She might have been the only one, in so far as he could afterward remember. Her eyes were of the deep, luminous blue of a perfect summer sky; her hair as black as a raven's wing, her cheeks wax-like, with just a suggestion of color; her graceful neck and shoulders cream-colored and glossy and alluring. Though hoopskirts concealed the lower part of her form, anyone with eyes could have told that a girl with such shoulders possessed other physical attri- butes in keeping. ''Marie Antoinette Dalton is my full name," she said, when he had taken her away from the other guests for a stroll down a rose-lined walk. "My mother is de- scended from a French family who sympathized with the royal cause in the great revolution. She had to take to the stage when young to escape a life of pov- erty, and she has been training me in Boston for the same career. My father lived only a few years after I was born. He was an Irish soldier, who was killed in South America while fighting for the Spanish cause." There was a sweet melancholy in her tones, which THE AMERICAN EMPEROR 9 were vibrant and softly melodious. About her entire being was an aura new to the village youth. Untaught in the ways of women of the world, he knew nothing of cosmetics or of the subtle art of Parisian perfumers. But he felt instinctively that here was a rare exotic that fate had been kind enough to bring within his view for the nonce, and her presence filled him with unnameable longings. And he was sure that no artifice could have created the substantial charms which the candle light had shown, and which the rays of the moon now made only the more alluring. "And my full name is Clay Jefferson Gorman," he responded. "I, too, have some French blood, through an ancestor on my mother's side, but my ancestor fought with the revolutionists. But if he had lived until now, and had seen all the results of the revolution, perhaps he wouldn't have been so much against royalty," he added, as a concession to her views. "You, however, could hardly be a royalist," she averred. "Your name is too democratic. Clay and Jefferson — why, you'd have to change your very name first." "Yes," he said. "One of my parents admired Clay, and the other Jefferson, and so I got both those names for my own. I'm told that I ought to run for office, since the Whigs and Democrats both would vote for me. "Tra-la-la," she sang out, suddenly, in flute-like tones, "such arguments don't interest me — I mean the politics of it, though the names are strong and fine. But let's talk about — or, no — let's pick roses, or climb an apple tree. Are there any apple trees on this old place?" io THE AMERICAN EMPEROR His heart leaped in anticipatory delight. In a voice that he tried to keep calm, he said there were two at the end of the walk. They strolled along, and when they came to the first tree, he said it was the better one, although he knew the branches of the other came lower. He clasped his hands together and held them, palms upward, and she placed a small slippered foot within them. Then she grasped him by the shoulder with one hand and, giving a graceful leap upward, caught a limb with the other. A few agile movements, and she had drawn herself to a seat almost before he realized that she had started to climb. He saw only a flash of lingerie, and an elusive, maddeningly brief view of a voluptuous, silk-stockinged leg to the knee. "Physical culture is one of the things I had to learn at school," she said, as he clambered up beside her. There he spent the shortest, most delicious quarter of an hour he had ever known. To be near her, to hear that musical voice, to get occasional exhalations of that sensuous perfume, to see the fortunate moonbeams play hide and seek upon her lips and bosom — all this was a kind of intoxication. That she, the daughter of one of the queens of the mimic world, and herself a possible future queen of that realm, should deign to spend her time with him was flattering to the village youth. He did not know that the Pembrokes had told her of his relationship to the mighty Asa Gorman. Nor could he know that his masterful way of taking her to himself as soon as they met had appealed to her feminine nature. But here was a game, he thought, worthy of the best art in sportsmanship — the pursuit and capture of such a radiant creature. With no amatory experience THE AMERICAN EMPEROR n save a few surreptitious hugs and kisses snatched from village maids, he yet felt instinctively that a woman trained in the arts of the stage is to the majority of men the most alluring because the most seen and admired of her sex, since it is human to want to possess what every one else desires. Strange thoughts for a Christian youth, reared in a Puritan family, amid ideal New England surround- ings ! But, he told himself, he was a person of strong individuality, a dominant personality who would decide for himself in questions of ethics and of morals. Had not Napoleon, when reproached by Josephine for his pursuit of women, responded that he was not as other men, but was superior to all others and could do as he pleased? Yes, Napoleon had insisted upon having his own way — his dark and dominant way — with women. And Napoleon had been a Christian young man, too, and had eventually restored the Church in France. First love never had a more propitious opening scene than it now had. The air, languorous with dew and the scent of flowers, was suddenly filled with the music of nature's orchestra in its evening overture. The cicadas' resonant drumming mingled with the flute-like notes of the crickets, while from a distant pool came the vibrant tones of bullfrogs in violoncello accompani- ment. Overhead the moon, a brilliant, pearly globe, surrounded by the jeweled constellations, hung like a huge chandelier in the dome of heaven. There is no telling how serious a drama might have begun, despite the hoopskirts that prevented him from sitting as close as he desired, wh^n voices calling to them from the house ended his temporary paradise. "Oh, we must get down at once," she cried, looking about for a foothold. And Clav Gorman showed 12 THE AMERICAN EMPEROR Napoleonic ability right there. Leaping' to the ground, he stood directly beneath her, pushed aside a limb by which she might have descended, held out his arms and said, "Come!" She allowed herself to slide into his embrace, and was crushed to his bosom. Struggling free in time to escape his kisses, she fled up the moonlit walk, looking over her shoulder as she ran. A laugh bubbled from her lips — a laugh that was both a taunt and an invita- tion, and he hastened in pursuit. Her skirts were caught by the eager thorns of a rose bush in the shadow of a large pine tree near the end of the graveled path, and there she was held until he was almost upon her. She tore herself loose in time to elude him, and sped like a winged nymph into the moonlight, up the broad stairs, between the white pillars, and on through the mansion's open doorway. "Damnable little witch — I'll get her yet!" he mut- tered, as he slackened his pace, and followed her slowly into the house. CHAPTER II AT HEIDELBERG The country was in the throes of civil war. It was a gigantic national travail, in which the Republic was to be reborn. Although conceived in liberty and dedi- cated to equality, the nation had, for the lifetime of three generations, led a dual life before the world. Its laws proclaimed the right of all to life, liberty and the pursuit of happiness, and yet four millions of human THE AMERICAN EMPEROR 13 beings were held in fetters in its Southern States. And an arrogant slave power, not content with its sway over half the land, was seizing upon the virgin territories of the West, and dragging them into the Plutonian realms of bondage. Then arose many legions of freemen, inspired by orations and songs, by poems and preach- ments, by books and battle hymns. Hills and valleys were covered by moving forests of bayonets, seas were dotted with ships of war, rivers were spanned by bridges of boats. Love of country was put higher than love of kin, and, in the conflict that ensued, half a million lives were sacrificed that a nation of thirty millions might be united and free. And while his country was torn by strife, Clay Gor- man was studying in foreign halls of learning the science of government, and other sciences, and dream- ing dreams of greatness. A vastly different person in appearance was he from the village youth who, in the moonlit garden of the Pembrokes, had pursued Marie Dalton to the mansion's door. He was wearing the latest European style of clothes now, and smoking the best of cigars, and mingling with cosmopolitan groups of noble and wealthy students. Success beyond his hopes had crowned his first financial scheme. His deal in railway ties had netted him four hundred dollars in six months, or a hundred more than the amount his uncle had promised to dupli- cate if it were made within a year. He reported the fact, enclosing proofs, but did not mention that one- third of the purchasing price had been loaned by his brother, to whom he paid two dollars as interest. Asa Gorman was so pleased that he told him to come to New York at once. He gave him six hundred dollars in cash, and a clerkship in his bank at an advanced 14 THE AMERICAN EMPEROR salary. But this was only the beginning of his good luck. His uncle, himself childless, became as a second father to him. And such business talent did he show that the banker grew to look upon him as his own suc- cessor. That he might the better fill this role, he was sent to a private tutor after office hours every day to finish the training begun in the Massachusetts acad- emy. Even then his education was still deemed in- complete for the responsibilities that the great growth of the Gorman firm promised for the near future, and a course at Heidelberg followed. Asa Gorman had heard that the German system of mathematics was the best in the world. He wanted his clever nephew to have only the best. After the first few weeks at the ancient university, young Gorman did not mingle much with the other students. He preferred to dwell apart, holding himself aloof from their swinish beer drinking contests, their midnight feasting, and their athletic sports. He be- came known as the student who never fought a duel, and who never visited the gymnasium. He knew that dueling was sometimes fatal, and that often it left scars. He could never understand the pride with which some men carried such scars through life. He had heard, too, that athletes oftener than not die earlier in life than other people. He wished to conserve his strength in every way. He spent much of his time walking about the famous Heidelberg Castle, which overhung the western part of the town. No ruins in Germany, he was told, equaled in grandeur or in size these relics of former glory in Baden. Near eight hundred years had passed since those battlements and towers had been built. He liked best to stroll about in the courtyard, where four THE AMERICAN EMPEROR 15 immense pillars, brought from Charlemagne's palace at Ingelheim, still reared their granite lengths skyward, where so much else had fallen to decay. These seemed to him to express the spirit of imperialism undaunted in the midst of the changing forms of government in all the ages since their erection. Reaction was again in the saddle in Europe after almost a century of effort by the forces of reform. Revolutions had been suppressed in Baden and else- where in Germany, and a new Emperor ruled in France above the ruins of the second republic. The ideas of Metternich prevailed throughout Europe in place of the ideals of Danton and Robespierre and the "giants of '93." And would the millions who were being driven by this reaction across the sea to democratic America find there a guarantee of permanent liberty? He did not think so. The German philosophers then most in vogue appealed to him strongly. Their ideas helped to round out the system of life which he had crudely planned for himself before leaving his native village. He shared Schopenhaur's contempt for the average man, and despised humanity in the mass, but, unlike Scho- penhauer, he was not going to proclaim this fact to the world. Nietszche's doctrine of the inherent superiority of and the necessity for the overman, when it was pub- lished some years later, met with his entire approval also. He loved life, though he could not love humanity. He had feelings, but they were capable of development as passions rather than as emotions. He could be transported, he could forget self only when giving way to intense physical desires. Realism was his gospel: "In the beginning there was appetite, passion, will." 16 THE AMERICAN EMPEROR Ideas had no original force of their own. It was this old doctrine reasserted that made Schopenhauer attractive to him. But he did not follow Schopenhauer in the hope of refining sensual desires into agents of higher things. He was rather inclined to accept the theory that all thought, every emotion, every human aspiration was based upon the senses — that there was nothing in the mental or spiritual world that could not be traced to a physical cause. But while he believed that all religious creeds were thus to be accounted for, he had no intention of staying without the pale of the Church. Of course, no one could follow, literally, Christ's teachings and be re- garded as other than a foolish fanatic in modern society. But religious associations were a great aid to public confidence, and public confidence was a lead- ing asset in his scheme of life. He would pursue his career along the lines of least resistance, and there was sure to be much less resistance in a Christian land to one cloaked in orthodoxy than to anyone destitute of so attractive and popular a garb. And he thought, too, upon the fact that in America, the land of religious liberty, few words were ever said against one creed in favor of another. The subject had become taboo in politics. The public prints avoided it, or touched upon it lightly. All that was necessary was to adopt some one of the recognized Christian beliefs as one's own, and people of other creeds would be satisfied. As he desired social position along with other kinds of success, he early decided upon the Episcopal Church. The fact that its membership was largely Tory during the Revolution, and the other fact that its English original had persecuted his own Puritan ancestors and driven them across the sea, did not affect his THE AMERICAN EMPEROR 17 course. He cared no more for the tragic martyrdom of the Puritans than for the fate of the embattled farm- ers of Lexington. "The shot that was heard around the world" had always seemed to him a foolishly exag- gerated phrase, and the men behind the shot, crazed enthusiasts. Hardly had the Civil War broken out when Clay received a letter from his uncle, urging him to return to New York. He had not yet graduated, but the need of his presence was such that he was asked to forego the honor of a degree. Asa Gorman was going to London, there to join his partner in representing the American government's financial affairs during the war. Clay was wanted to manage the New York office in their absence. And so to the land of strife, though not to actual scenes of strife, he returned. As he drove uptown from the wharf, evidences of the national turmoil met his view upon every hand. Drum and fife corps were marching about, newly recruited soldiers were drilling by daylight and by lamplight, patriotic airs were being played and sung in theatres and out of doors, impas- sioned speeches inspired crowds in halls and mobs in streets, and even the most fragmentary news from the front drew excited thousands about bulletin boards. But he was more than cool through it all. He was cynical and calculating. At twenty-three years of age one should be willing to die for a great cause, if ever. But he thought only of living for himself. The speeches that inspired the souls of others only made him wonder what political or military office the speak- ers wanted. The emotional enthusiasm with which thousands marched through the streets, causing multi- 18 THE AMERICAN EMPEROR tudes to cheer and wave banners and clap their hands, never infected him. He had by this time abandoned all thoughts of a military career. Weighing carefully the chances in that field, he decided that the risks far overbalanced the possibilities of success. He had not lost his ad- miration for Napoleon. But he felt that Napoleonic abilities in war could not achieve the results in demo- cratic America that they had achieved in monarchical Europe. Besides, he had learned that while republics are often ungrateful, bank balances are always potent. And, as his uncle had said, this was pre-eminently the age of capital. CHAPTER III EARLY TRIUMPHS Clay found a long, confidential letter from his uncle awaiting him in the firm's new offices in Nassau street. Forty clerks were now employed there instead of the half dozen that had sufficed in the smaller quarters occupied before his departure for Europe. And for himself there was a private apartment partitioned off in polished wood and ground glass, with his name inscribed thereon in gilded lettering. He sat down in a cushioned chair before a mahogany desk to read the letter from London. "For our present purposes, we want a gloomy report of the outlook for the Union cause, no matter what the real situation is," he read. "Mail it at once and enclose some clippings of unfavorable opinions that have been THE AMERICAN EMPEROR 19 printed in the newspapers in the last few months. Of course, I do not need to tell you that there must be no date marks on these clippings, unless the dates are recent. Follow with other similar letters from time to time until otherwise instructed." There was much more of the letter, but this was the gist of it. The report was quickly made up and sent. Not until many weeks later, when Clay learned that his uncle had heavily invested in English factories, did he understand the motive. The factories of England were selling supplies to the Confederacy. The foreign allies of the firm who pointed the way to such invest- ments were in turn informed of the real state of the Union cause, and thus knew when to buy or sell Fed- eral bonds, while the general public bought and sold at the wrong time. The Atlantic cable was not yet laid, so that advices by mail, and usually private advices, formed the only news that investors relied upon. And Gorman, Peyton & Company were the government's own agents, so why should not their advices have been believed before all others ? From his studies in law, Clay knew how treason was defined by his country's Constitution. Citizens who levied war upon the nation, or gave aid and comfort to the enemy, were traitors. Yet Gorman, Peyton & Company were not only giving aid and comfort to the enemy, but were speculating upon the misfortunes of their country. And they were rapidly becoming richer thereby. Their wealth mounted by leaps and bounds. When the tide of war submerged a nation's hopes, it brought treasure into their coffers. When the tide ran out, the treasure remained — aye, and it grew again with the rising fortunes of the Union. And now Clay fully realized the wisdom of his uncle's words uttered 20 THE AMERICAN EMPEROR five years before : "A wise man in the world of finance can so manage things that no matter which side loses in war, he will win." After some months of labor as a subordinate in these profitable maneuvers, Clay began to yearn to demon- strate his own genius in finance. He felt that the time was ripe to show that his able relative's faith in him had not been wrongly placed. Of course, his uncle was satisfied with him thus far. This he showed by giving him more and more responsibility, and a larger and larger share of profits. The nephew's income was now as great as that of the Governor of the State, and he was barely twenty-three. But individuality and personal power were what he wanted, what he yearned for, what he meant to have. Looking about him for a means of demonstration, he decided upon army con- tracts. This was the field in which even greater returns were to be realized than by any of the processes of private banking. It was the field in which his uncle's firm was most largely profiting abroad. On all sides he saw wealth being created in a seem- ingly magic way by speculators in supplies for those legions who were moving southward in ever increasing numbers to overwhelm the forces of rebellion. Before the war began, even to the very hour of its commence- ment, Northern factory owners had sold munitions to those who were preparing to use them against their own government. And now yet greater profits were being garnered by the sale of the remnants of these supplies to the Northern armies. Food which enfeebled rather than strengthened, haversacks which fell to pieces, tents and blankets already mouldering to decay, guns more dangerous to their users than to the enemy, ships that foundered a few days after leaving port — in THE AMERICAN EMPEROR 21 things such as these were laid the chief foundation stones of the new aristocracy of wealth that was rising above the groans of a nation in travail. The Union army had been beaten back at Bull Run, and fear for the cause of the North had gripped the stoutest hearts, when Clay read in a newspaper that five thousand condemned carbines reposed in a New York arsenal. These were part of a great number which had been declared unserviceable by inspecting officers just before the war opened. Thousands of the same kind had been auctioned off at one or two dol- lars each. But now that war had actually begun, rifles of all kinds were scarce, and almost any sort were better than none. A clerk from the office of Gorman, Pevton & Company appeared at the arsenal one day, and offered three dollars each for the supply on hand. The offer was accepted when the well known banking firm was given as security. "I had heard that the army in Tennessee was in great need of supplies," Clay wrote to his uncle, in a triumphant report of his operation some months later. "But I waited several weeks after getting the option on the rifles, so as to seem not to have known this. Then I telegraphed General Bludsoe that I could fur- nish him with new carbines for five regiments of cav- alry. The general quickly responded with an order for all on hand. Then, and then only, did I make a pay- ment at the arsenal on my purchase. I sent at the same time a check for fifteen thousand dollars to the arsenal, and a bill to the general for a hundred and ten thousand." When the rifles arrived there was explosive anger in the military headquarters on the banks of the Missis- sippi. Soon the bill followed, and there was more 22 THE AMERICAN EMPEROR anger. "The guns would shoot off the fingers of the soldiers who tried to use them," said the general. "The army shall not be robbed in this way." Clay did not include these facts in his report, but continued in this wise : "The general in command refused to pay, but I out- maneuvered him, and made him bow to a strategy superior to that taught in military tactics. My lawyer — one of the cleverest obtainable — took the matter be- fore a committee of Congress. He could do nothing there, but that was only the first step. The War Department's commission on claims was appealed to, and it decided that, inasmuch as the rifles had actually been delivered, half price should be paid as the best way out of a bad bargain. But half price was accepted only 'on account,' and the Court of Claims was the next citadel stormed. Then it developed that I had made a lucky choice in my counsel, for he knew some- thing about the past record of the most grave and reverend seignior who presides over the court. What it is I cannot say, for he is keeping it to himself, but anyhow, the court decided that the sacredness of con- tract demanded that the claim be paid in full. And thus I sold to the government its own condemned munitions of war at more than seven times its own price, and purchased with funds furnished by itself." Imported champagne was quaffed at an elaborate dinner given by the victor to his lawyer and a few select friends at the Astor House a few weeks after this momentous decision. The table was arranged next a marble fountain, which was topped by a statue of Victory. A quartet of escaped slaves sang plan- tation songs and played upon banjos for their amuse- ment. As Clay listened to the melodies, and mused THE AMERICAN EMPEROR 23 happily over a congratulatory letter he had received from his uncle that morning, he felt that he had been wise indeed not to go to the front in this war. Only the day before he had read of a band of starving Union soldiers who, coming upon the decaying carcass of a mule in a snow bank, had eaten ravenously of the remains. And fevers and other maladies due to ex- posure and hardship were wreaking a greater havoc than bullets among both officers and men. Ugh ! And how glad he was that he had paid three hundred dol- lars for the hiring of a substitute, in accordance with the law passed by Congress at the behest of monied men! He had arrived at the point in his musings where he figured his profits on this single deal at a sum equal to the salary then paid the President for a term of four years, when the voices of the negroes and the tinkle of their banjos were drowned out by sounds of con- flict from the street. There was the trampling of many feet, followed by shouts and curses, and then half a dozen revolver shots, immediately succeeded by a vol- ley of musketry. "What's that?" he asked, turning a blanched face toward his lawyer, who had rushed to the window. "Another draft riot," was the reply. "They killed seventy-five yesterday, mostly niggers — that is, the rioters killed the niggers, and the soldiers shot about a dozen rioters. I notice five or six bodies being car- ried away now, so maybe yesterday's record will be equaled to-day if they keep on." As soon as the sounds of conflict died away the din- ner was resumed. As he rode home from the banquet, Clay's attention 24 THE AMERICAN EMPEROR was attracted by the sight of a pictured face on a the- atrical lithograph in a store window. It was a face he could never forget, and underneath it was the name, Marie Antoinette Dalton His blood leaped in his veins, and a wave of delight- ful memories and unsatisfied longings swept over him. He stopped the carriage long enough to learn at what theatre she was appearing, and the next day he went there to inquire about her. He was told that she was living at the Clarendon Hotel. When he arrived at the hotel she was preparing for a drive after a late breakfast. She sent him word that he might come to her apartments for a few moments. "And so this is Mr. Clay Jefferson Gorman?" she said, fingering the card that had been brought to her, and smiling at him with frank interest. She saw at once that the young man before her was vastly dif- ferent from the village youth whom she had teased and flouted six years before. She had not seen him after that one night, avoiding him with a plea of head- ache when he called the next afternoon, and returning to Boston two days later. But she had heard of his uncle's interest in him, and of his foreign studies, and was now not unwilling to be gracious to the young financier who wore an imported cassimere suit and Parisian boots, and had a diamond in his fancy cravat of sufficient value to start a company on the road. "Yes, I use my name in full now, if that is what you mean," he replied. "And you, too, I notice, are spelling yours in full. But a successful and beautiful actress has a right to as many pretty names as she may wish to use." THE AMERICAN EMPEROR 25 "Ah, I see you have learned how to say nice things," she said, laughing low and musically. She was more alluring to him than ever as she sat upon a couch in an attitude of easy grace, her perfect neck and shoulders gleaming through a diaphanous shawl. He had seen the Empress Eugenie as she rode through the streets of Paris, acclaimed as the multitude's darling, and he had been charmed by her Spanish beauty. And he thought that here was one who, in Eugenie's place, would be equally charming. Marie Dalton's years on the stage had given her an added grace and poise, and time had ripened the beauty that a few years before had promised so much. The sparkle of her eyes was more subdued, more subtle, yet even more dangerous than ever. Her lips were as tantalizingly red and inviting as on the night they had eluded his own, and as she smiled now they seemed to hold both invitation and mockery. "But I am not successful," she went on, and her tones became melancholy. "These are not the days when theatrical success means much reward in money. Since the Southern cities are closed to us, and North- ern ones are poorer than ever, we Thespians have a hard row to hoe." He was not sorry to hear her say this, for he felt that his own success would make him the more attract- ive in her eyes. And he wanted more than ever to be attractive to her. He had had his fling in Paris, and he had not neglected to make, the acquaintance of sev- eral susceptible ladies since his return home. But he had never met any one who roused in him such feelings as did the woman before him. One moment he felt that to be her slave in order to be always near her would be all the paradise he would ask. The next, he 26 THE AMERICAN EMPEROR yearned to be a despot, that he might command her to do his bidding. And each instant she attracted him more, by every glance of her eye, by every shrug of her shoulders, by every movement of her sinuous body, by even the stamp of her pretty slippered foot. He talked to her of many things, with all the conver- sational art he had acquired by contact with the world, but constantly he was thinking of how to win her. She told him that she had been married four years earlier, but her husband, he was glad to learn, was now at the front. He was a captain among the troops in the West, and had been wounded in battle. "And the worst of it is," she added, "that he was not wounded by an enemy's bullet, but by a rifle in the hands of one of his own men. The gun prematurely exploded. The soldier was innocent, as the gun was proved to be one of a bad lot that had been condemned, and had been given to the troops by mistake. Oh, if I could only go to him ! I might as well be there, for all the money I am making. But traveling is so expensive." "If you would only let me aid you in some way," he suggested, gently. "You see, I can easily do so, and " But she would not allow him to finish. "My poor, dear mamma, if she were living, would be shocked at the suggestion," she declared, shaking her head with melancholy resignation, and causing the curls on each side to play hide and seek with her eyes. That night he engaged a box at the theatre and saw her play Ophelia to a small audience. And when he called the next day there was an appealing sadness in her eyes, and evidences of recent tears. While talk- ing of his foreign travels, and of the prosperity of his uncle's firm, he let her know by seemingly careless THE AMERICAN EMPEROR 27 phrases how large his own income now was, and casu- ally referred to his valet and his private secretary. And then, as she seemed interested, he told her of his recent coup in an army contract, without mentioning needless details, and added that it had "netted some tens of thousands." "My, but you are becoming quite a financier !" she said, admiringly. "And there is no one to share my success," he re- joined, sadly. "My mother is dead, and my brother has become a successful country merchant, partly through my aid, and he needs no further assistance." He repeated his offer of a loan, and again she de- clined, though less decisively. They went driving that day, and stopped for luncheon at the gilded cafe of the Astor House. He ordered the costliest French wines, and their food was prepared by a newly im- ported chef from Paris. When she said "Good-by" at the door of her apartment that evening he sought to enter, but with sorrowful accents ?he told him she had dismissed her maid for lack of money, and declared that he must come no further. But she let him hold her hand longer than usual. He called the next day with a large bouquet of Mareqhal Niel roses, and she met him in the public par- lor. She was so pleased with the roses that he sent a yet larger bouquet to the theatre that night. She lunched with him the following day, and the next, and the next. A week later she had accepted a loan large enough to pay her hotel bill for a month, and the fol- lowing day he gave her a sufficient sum to re-engage her maid. He called her "Marie" the day after, and the day after that he induced her to call him by his first name. 28 THE AMERICAN EMPEROR It was now early in March. She had told him that her maid was going to a suburban town to visit rela- tives on a Wednesday. Soon after noon of that day the sky became overcast, and a fitful rain fell, while strong winds moaned through the leafless trees in Union Square. There was a savage gloominess about the day that caused one to desire to escape from nature, and to yearn for human sympathy. When she opened the door to him he noticed that she had been weeping. She started back as though in surprise when she saw who it was, and caught her negligee gown together at the throat. Before she had time to utter a word he seized her in his arms and covered her face with kisses, commanding her to cease her sorrowing about things that could be easily remedied. Her gown fell open again, and he put aside the hand that would have closed it. She pro- tested, at first strongly, then feebly, then not at all. And it was after dark when they emerged together, she perfectly attired for the street and leaning contentedly upon his arm, while he escorted her to a carriage with tender but masterful solicitude. CHAPTER IV A HONEYMOON IN ITALY War's fiery tide had receded, and the nation was slowly and painfully recovering from its scars. The South, crushed by sheer weight of numbers, had finally abandoned its heroic fight, and now lay bleeding afresh under Reconstruction's iron heel. THE AMERICAN EMPEROR 29 The war had ruined legions in many lines. Com- merce and industry were half paralyzed in the North, and in "Dixie Land" most of the fairest plantations had been blighted as by a plague. The happy laughter of the care-free negro in fields of cotton and corn had been replaced by sullen demands for wages that could seldom be paid. The lullabies with which black "mam- mies" had sung their white charges to sleep were suc- ceeded in many a cabin by wailings for the death of their own offspring, who had been slain by their exas- perated former masters in secret bands of lawless night riders. All classes in every section felt and would feel for many years the weight of a war the most destructive the new world had ever known — all classes, that is, except one. Those who dealt in money had found war a source of even greater gain than peace. The mounting of the public debt from less than sixty-five millions to more than two and three-quarter billions, or about forty-three times what it had been, dismayed many a patriotic heart, but it did not dismay the money changers. By the system which they had devised, the war for liberty and union was now netting them and their clients at least fifty millions a year, and would continue for many years to profit them as much. Special taxes upon trade and industry for a generation or more would be needed to meet this drain upon the national treasury. Not since the beginning of public debts in the days of Queen Anne, when the English began to engage in so many long and costly continental wars, and Parliament decided to put the burden on posterity, had a single war fallen so heavily upon a people. And never had the money changers so profited from the disasters of a nation. 30 THE AMERICAN EMPEROR As Asa Gorman explained it to his nephew : "Congress was induced to pass a law providing that the owners of such government bonds as were depos- ited in the Treasury receive the total sum of their face value, less only ten per cent., while continuing to draw full interest on them. Thus what amounts to a double interest is being paid. And bankers are gratuitously allowed to issue currency on the basis of the deposited bonds, and charge interest on the currency. At the same time they are relieved from paying taxes on the bonds. That is one reason I have started a national bank, while continuing as a private banker as well. Our total profits as a result of this bond scheme some- times go as high as fifty per cent, in a year, or even higher, when money becomes unusually stringent. Who would not be a banker in this age and country, Clay?" When the elder Gorman had returned from England at the war's close, he was already one of the richest men of his time. But this was not enough for him. He wanted to be the very richest. He joined the clique of financiers who, in many devious ways, were undermining the people's rule in State and national legislatures, to obtain laws that would still further add to his wealth and power. Some of the most eminent politicians, who to the masses were known as states- men, were his aids. In return for their help, they were given blocks of stock in various enterprises, or sold government bonds on the most favorable terms. Young Gorman used to wonder what the masses would do if they could understand what was taking place. That the immense majority could not understand, only increased his contempt for them. Meanwhile, a new aristocracy of wealth was rapidly THE AMERICAN EMPEROR 31 rising in the North, and this aristocracy was fully rep- resented at the wedding of Clay Jefferson Gorman on a May evening in the year 1868. The scene was a home in what was then upper, but is now lower Broad- way. There were sounds of music, revelry and song from within, and of laughter and gay chatter from under the trees on the broad lawn that was a-light with Japanese lanterns. The tall wooden palings that in- closed the lawn kept out the curious public, but did not prevent a view of the pretty outdoor scene. But here and there about the lawn fair heads were bent together, and "Ohs" and "Ahs" and suppressed gigglings were heard, and the fair heads were quickly drawn apart when anyone of masculine gender ap- proached. These heads belonged to the friends and acquaintances of Millicent Lawton, the bride. They were discussing the details of the approaching cere- mony, no doubt. And perhaps, too, they were saying that although the bride was to be envied in some respects, in others she was not, since she must share his affections with another. For it had become known in some circles that the groom was fond of a certain actress, and that he continued to spend much of his time with her even while paying attentions to Miss Lawton, the daughter of Obadiah Lawton, whose banking house, the chief rival of the Gorman firm, would be allied to the Gorman interests by the mar- riage. But whatever anyone, including the bride's parents or the bride herself, may have heard of this subject, preparations for the union had not halted. And now, in a few moments, to the strains of a wed- ding march played by an orchestra concealed behind palms, the bride and groom marched down the broad stairway, and under the Morris hangings of the draw- 32 THE AMERICAN EMPEROR ing room door into the presence of a "distinguished and brilliant company," as the newspapers of the next morning had it. Here they said their vows, received their congratulations, and smiled their happy appre- ciation of it all, and then joined the company at a banquet. And some of the company were really distinguished, too. It is true that there were no war heroes, no statesmen, no artists, no philosophers. But fully a dozen among the guests could prove that they had attended the ball given to the Prince of Wales when he had visited the city some eight years before. And one of the ladies present had danced with the Prince himself, who had autographed her programme. Another had been allowed to stand by his side while he reviewed from a balcony of the Clarendon Hotel a procession given in his honor. There were, besides, several other guests who were on the visiting list of the first American woman to bear an old world title. At the conclusion of the banquet a toast was drunk to the young couple, and then, amid a shower of rice, they stepped into a carriage and were driven to a pier to board a steamer that sailed at dawn for Europe. Their honeymoon travels included London, Paris and Vienna, and thence they went to Italy. They were to remain in Rome for a full month. Millicent had never been abroad before, and she enjoyed every hour of their journeyings. She was particularly enraptured with the Eternal City. The many cathe- drals, the art treasures of the Vatican, the melancholy and hoary mystery- that brooded over the ruins, the thought of the great tragedies, the glorious deeds enacted in ages past upon the very ground she now walked on — all this appealed to her strongly. THE AMERICAN EMPEROR 33 She had been well educated, and she possessed a genuine love for classic art. Next after her social position, due to her father's fortune, she had attracted her husband by her ability to talk understandingly and well upon many subjects. As to her physical qualities, she had a good form and a handsome face, illumined with fine dark eyes. She had admired Clay for his knowledge of the world, and for his ability in winning her father's approval over three other suitors. Long before their first meeting she had heard of him as a young finan- cier who was so successful that ere he was twenty-five he was able to contribute a thousand dollars toward the building of St. Mark's Church. She did not know just how his success had come, but she felt that he must be an exceptional young man. And his wooing had been so impetuous. From the first he had simply taken entire possession of her time and of her mind. She liked to be won that way, and she had soon yielded. He did not enthuse with her over the ruins of Rome. But he did admire much of the statuary, though his thoughts about it were vastly different from hers. In the museum of the Vatican, for instance, he wondered why the holiest of men should live among so many nude figures, even if these were only of marble — figures which depicted the loves and liaisons of the sensual deities of paganism. And he speculated upon the morals of the ruling pontiff. Millicent had first suggested that their wedding trip be taken in the United States, and that Gettysburg and other famous battlefields be included. As a patri- otic young man who had laid the foundations of his fortune in that war, he should have been interested enough to visit at least a few of its scenes. Perhaps 34 THE AMERICAN EMPEROR he should have stood upon the field of Gettysburg and resolved, with Lincoln, "that these dead shall not have died in vain." But he preferred to spend his Ameri- can-made dollars in more interesting and artistic and aristocratic surroundings. He thought Lincoln had done very well as Presi- dent, but when assassination had ended his career, he had considered its effect upon the stock market more than in any other way. And as he stood now amid the ruins of the Capitol where Caesar had fallen, he recalled a biographer's eulogistic phrase about Lin- coln : "His life was an epic, and his death, like that of Caesar, beggars the art of Melpomene." Well, what of it ? He was dead now, was Lincoln, cut down in his prime, just when he might have begun to enjoy the fruits of his labors. And if he had lived he would probably have been maligned and vilified in his declin- ing years, when stripped of power and helpless against his traducers. Political glory was so precarious and, in a republic, so poorly paid a thing! He admired the strong and masterful leaders who had defeated republicanism in France and Italy. That was the way to do things — as Louis Napoleon had done, making himself Emperor of the French upon the ruins of a republic, or as Victor Emmanuel had just done in Italy, building a throne out of the bones of republican leaders. And Mazzini, who had striven for a lifetime to unite Italy in one great commonwealth, and had retired to die of disappointment — well, he was a fool, or else an adventurer who had been euchered out of the spoils by those cleverer than himself. Clay meditated so much during their stay in Rome that Millicent began to fear he was becoming melan- choly. Their hotel rooms overlooked the Corso, the THE AMERICAN EMPEROR 35 main boulevard, and he used to sit by the hour gazing at the passing show. She found him thus one sunny afternoon when she came into his room. He was in the same position in which she had left him when, more than an hour before, she had gone to view one of the ancient churches. "See where the fleas have bitten me," she said, open- ing her dress at the neck. (Fleas in Italy know no race, caste or sex, and seem especially to prefer tour- ists.) He saw two red welts disfiguring her fair skin. In the earlier, tenderer days of their travels he would have spoken soft and soothing words, and petted the place of affliction or pressed his lips there. But now he merely glanced at it, remarked, "They did bite you hard," and resumed gazing out at the gay throng. She turned away with an indrawing of her lips, and an expression of pain in her eyes. The mellow afternoon sun shone upon a colorful scene in the Corso, which temporarily eclipsed the misery and squalor and degradation of the masses : Cardinals, resplendent in their red robes, lolling luxu- riously in carriages ; army officers in the uniform of the newly established kingdom, many of them gold braided and riding high-stepping steeds ; nobles of both the old and the new order, the former proud and haughty of bearing in proportion to their shabbiness ; ambassa- dors adorned with gold lace and other decorations of honor; beautiful women in exquisite gowns, bedizened with jewels, and bright-eyed with interest, or from the use of belladonna; and many merely rich tourists, mostly from America, trailing along in hired convey- ances, endeavoring to shine in the reflected glory of it all. Millicent began to plan ways to get him to start back 36 THE AMERICAN EMPEROR to America. She would have liked to stay much longer, but no woman can endure neglect on her honeymoon trip. She could not know that after the first delights of their new life, due mainly to novelty, he had begun to yearn for one who had never palled on him. She could not know that all the beautiful forms of goddesses and nymphs in marble, of bright- eyed, voluptuous Italian maids and matrons in the flesh, had reminded him of another than herself. An urgent letter from Asa Gorman the next morning changed his brooding into animated interest in time tables and sailing lists. The house of Gorman, Peyton & Company required his presence on the eve of an election that might mean much to them and their allies. "You know some of the big politicians as well as I do now," wrote his uncle, "and there are many of them to be looked after these days. We must not waste our ammunition by giving campaign funds to the wrong parties." The bridal couple left at once for Naples, and two days later sailed for New York. Millicent became happy again, merely to see him brighten into a gayety approaching that of their pre-nuptial days. She did not suspect that the Other One across the sea, who had been recently widowed, and to whom distance lent an added enchantment, was waiting for his return. CHAPTER V HIS FIRST RAILROAD "These railroads," said Asa Gorman, after a day filled with conferences, "are going to have a wonderful THE AMERICAN EMPEROR Z7 lot to do with running this country. If I were a younger man I would be interested in railroads beyond the marketing of their stocks and bonds." He did not say this directly to Clay. He uttered it musingly, as he sat puffing a fragrant cigar and gazing idly out of his plate glass window at the hurry- ing throngs in Nassau street. It was a year after his nephew's return from abroad. There were many more lines in the elder man's face, and the sacks of flaccid skin under his eyes had grown much larger in the past few years. His hair was thin- ning rapidly, and on top of his head he was almost bald. His hand shook at times, too, as though with the palsy. Old age was claiming him for its own, though his years were not yet three score. "Perhaps I've stayed too close to the grind," he said. "Wine, woman and song should not be mixed with business, but a little gayety now and then helps to keep one young. And it's been all work and no play with me. No, I've had too much work in life already, and I will keep out of railroads." Clay had now progressed to the point where he relieved his uncle of most of the work of the office. He not only attended to clients, but directed the firm's activities among both State and national politicians, and told the lawyers what was expected of them in many important cases. A few years more and, he promised himself, he would be the actual head of the firm instead of a minor partner. It was "Asa Gorman & Company" now, and he was the company. Peyton had retired to build himself a palatial home, and, by spending a tenth of his fortune in public benefits, had become known as a philanthropist. 38 THE AMERICAN EMPEROR In expressing a wish to get "interested in railroads," his uncle had spoken Clay's own thoughts. He had begun to long for a more active life. He was not of a disposition to sit quietly by and enjoy merely the sight of money flowing in a goodly stream into his coffers. Nor did slothful ease, nor even dalliance in the boudoir of the most charming actress of the day, attract him for long. The force that was stored up in his being demanded other outlets. He craved action — action, preferably, that would vastly increase his wealth, but action for its own sake rather than not at all. The walls of the banking house were too much like a cage to him — a pleasant cage, even a gilded cage, but a cage, nevertheless, and fit to be only a rest- ing place, not a permanent abode for his eagle-like spirit. He liked that idea : the idea that he was an eagle. Napoleon was an eagle — the eagle of Austerlitz, whose wings were broken at Waterloo. Yes, he, too, was an eagle, and he would be a Napoleonic eagle in the world of finance. He looked about in preparation for his first long flight. Railway building was then attracting some of the best business talent of the day. Men of nerve and daring were making enormous fortunes out of those bands of steel which were binding the States together in a stronger union than ever political ties had bound them. And the power these men acquired was propor- tionately stronger than the power of civil magistrates. In fact, the latter were often but the tools of those more dominant personalities whose rule did not depend upon popular approval. Already there were more than thirty thousand miles of railway in the republic, or THE AMERICAN EMPEROR 39 about as man)- as the two greatest European countries together had. "And the railway power is in its infancy," his uncle had often said. Clay's knowledge of law made him the more anxious to try his wings. He knew how much richer than in any other land were the prizes to be won in railway exploitation here. And what he did not know his uncle told him. "In Great Britain and on the Continent," Asa Gor- man said, "borrowing powers are granted to builders in very limited degree, and generally for only one- fourth of the capital, and the debenture or other obli- gations respecting the authorized debt are esteemed as a security of the highest character for investment, and are usually guaranteed by the government. But here, borrowing powers are exercised for the most part under general laws, and without limitation, so that often all the actual capital for building a railway is raised by forms of debt, while the share capital is issued solely for the contractors' benefit, and affords no guarantee or margin for protection of indebted- ness. "This means, in plainer language," he went on, "that any group of men that possess or can borrow a small margin of capital are allowed to build a railway wherever they see fit, subject only to judicial regula- tion. And 'judicial regulation' is something that any one as familiar as we are with the workings of prac- tical politics should not be afraid of. Judges are all human, you know." "A good many of them own stocks and bonds in the roads whose cases they decide, and yet the people never seem to think of that," remarked Clay. "You 40 THE AMERICAN EMPEROR remember old Judge Allenby, whom Gluten and Bliss let in on the Bedling road's stock?" "Surely, I remember that matter, and many others. The explanation seems to me just this : All judges have been lawyers, and lawyers, as a class, are men originally without property, and their chief business in life is to protect property. It is more than a mere saying that 'Possession is nine-tenths of the law.' You find that in Blackstone, don't you? Well, the gentle- men of the law, whose mission in life is mainly to aid people who have possessed themselves of property to keep possession of it, are not going to waste much of their talent in — what was that philosophical word you brought back from Heidelberg? 'Casuistry' — that's it. They can't let conscience figure very largely in it. As I was about to say, as long as these guar- dians of property get a good share of what they guard, they will not look behind the scenes too closely to learn the methods whereby it was acquired." "Napoleon once said," Clay rejoined, "that 'Provi- dence is on the side of the heaviest battalions.' Per- haps we should revise that dictum for modern use by saying that in contests before courts, 'Providence is on the side of the largest pocketbook.' " "Excellent! Excellent!" and Asa Gorman cracked the parchment-like skin of his face into smile. "In other words, property is the god of law. And yet, how the people do look up to law and lawyers ! It is won- derful how many of them study the law, too. Maybe it is because it's so great an aid in politics and business. Long ago, I heard that more copies of Blackstone had been sold in America than in England. Lawyers are usually in the majority in Congress, often THE AMERICAN EMPEROR 41 immensely in the majority there, as well as in most of the State legislatures. But we should never interfere with this general regard for lawyers. It has helped me in many a big deal." "But about the railroads," Clay resumed, fearing that the old man would continue indefinitely in vain- glorious reminiscences if he should get started in that line. "Towns are springing up fast in many of the new States, and are simply crying for railroads. Legions are pouring in from Europe every day to help swell our population. The country is now gaining a million a year." "Yes," said the uncle, "and the people are so eager for railroads that they don't stop to haggle over the terms of the builders. Speculators are given rights that could be sold at immense premiums. Instead of selling franchises, county and town boards freely grant perpetual rights of way. This is not all. They donate bonds toward the building, besides the State and federal bonds that are loaned by millions of dollars' worth to builders. We have handled many of these, and they make my hands itch to go out and get hold of the roads themselves. In this State alone, forty millions have been taken from the treasury to help railroad promoters, who at the same time are given power to dictate to the people what they shall pay for using the roads thus built. Oh, if I were not so old, I would get in the game." "And the bribery scandals never seem to amount to much," added Clay. "Pooh ! Of course not. The public memory is short, and there are too many people high up in the transac- tions to let any very large cat out of the bag. Take 42 THE AMERICAN EMPEROR that Credit Mobilier affair, for instance — the American Credit Mobilier, I mean, not the French." "Ye a , tell me about that," said Clay, who found this the most interesting conversation he had ever had with his well-informed relative. "I was on my honey- moon trip when things happened, and I didn't get a clear idea of it." "Well, our house pulled down a big share of the proceeds in that, so I ought to know something about it. The Union Pacific, as you know, was the first road across the Western plains and mountains, and the only one, as yet. A group of daring spirits put the thing through — the political end of it, I mean, and I helped along in a financial way. My share was forty thousand of the fund put up to be used in Congress. The law that was finally passed gave the promoters every alternate section of land on both sides of the track, besides the right of way itself, along the whole length of the road through half a dozen States. Two hundred million acres, or more than three hundred thousand square miles, have been granted in this way — principally to the U. P. crowd — and the promoters were the principal gainers." Clay did a little figuring on a sheet of paper before him. "That's more land than there is in all of France," he said, looking up from the figures. "It's a greater area than the original thirteen States together." "Besides all this," his uncle went on, "sixty millions in federal bonds have been loaned the builders, and these very lands that were donated were given as security. By God, that was a deal for you!" and the old man smacked his lips. "Of course, there was a THE AMERICAN EMPEROR 43 little scandal in Congress when the details came out, and a few members who were proved to have accepted gifts of stock had to resign, but nothing more serious happened. As I said, my share of the expenses was forty thousand, and my profit from placing the bonds was half a million." "There is no precedent in history for such a land grant, is there?" asked his nephew, whose study of the law had given him a liking for precedents. "Precedents?" repeated the uncle. "There don't need to be precedents for things done in this country of glorious opportunities. Ah, if I but had my life to live over again ! "But say," he said, suddenly, arousing himself from his half pleasant, half melancholy meditations, "if you want to see what you can do in railroads right now, I've got an idea. The stock of the New York and Tallahanna road is going a-begging because of a war between two sets of directors. The line runs from the Hudson to the heart of the rich coal lands of Penn- sylvania. Though it's short, its possibilities are immense. Other bankers look askance at its securities, but we have got hold of a large block, and I think we should have more." A few days later there was a new figure at the meet- ing of the stockholders of the New York and Tella- hanna road. The company's headquarters were in a side street, near the Gorman offices. It seemed that Fate itself had bidden young Gorman to take a hand, for he had only to walk a few hundred steps to be in the midst of a shouting, gesticulating crowd of mer- chants, farmers and speculators who wanted some one 44 THE AMERICAN EMPEROR to lead them out of the chaos in which they found themselves. He sat quiet for the first half hour, listening to all that was said. Then he moved about, making new acquaintances and renewing old ones. The profes- sional stock traders or speculators he already knew. These were taking the most prominent part on both sides in the fight for control, though none of them had ever given as much as a dollar of his own money toward the building of the road. One of them, a former politician, had been elected president of the road by his faction, and his side Gorman championed. It was through his uncle that this man had acquired his stock cheaply. The opposition was led by two formidable specu- lators, Gluten and Bliss. Gorman knew their strength, but they did not know his. They looked upon him as a mere upstart, a creature of his uncle. Both were older than he in years, and they were, moreover, vet- erans of many a hard-fought financial campaign. Gluten was a clever Jew, whose prestidigitations in stocks and bonds, sometimes bringing him millions at a single move, had given him the name of wizard, and Bliss was a scarcely less able lieutenant. In local politics they had an advantage unsuspected by most of their enemies. They always furnished the funds that elected at least two of the judges before whom such cases as they figured in were to be tried, and Gluten had more than once bought a new court over night when his defeat seemed certain. And when Gorman and his fellow stockholders went to the meeting on the second morning it was to learn that the Jew had made another judicial alliance, for an injunction barred them all from the office. THE AMERICAN EMPEROR 45 "Come to the office of Gorman & Company," said Clay, speaking to the crowd assembled on the side- walk. "Not only will my firm back your cause to the limit of its resources, but we may be able to get foreign financial aid if necessary. Meanwhile, our offices are at your service." It seemed only natural, after this, that the young financier should head the list of directors nominated by the ousted faction. A group of farmers were among the most enthusiastic admirers of the new leader. Some of them were influenced by the words of one of their number, when he said, "I like this straightfor'ard young man. Them other fellers is just money pirates without religion. But I know a man that b'longs to the same church he does, and he says young Mr. Gorman 'tends regular. That means more'n a little to me." A desperate move was now planned by Gorman and his speculative ally, whom the other faction would not recognize as the president. They sent out emissaries to win over all the engineers, firemen and brakemen. They had got control of some of the engines and cars, and were preparing to operate the line without wait- ing for a decision of court, when Gluten and Bliss appealed to the Governor to order out the troops. The next day the bayonets of five hundred soldiers glistened in the railway yards. "Well, my boy, it looks like they'd got you for the present," said Asa Gorman, who had been watching the contest with keen interest. "But since you're in the fight, you ought to stay in it. What's your next move?" "It seems to be a matter of influence," replied Clay. 46 THE AMERICAN EMPEROR "Is there any court in this town that Gluten hasn't got his grip on?" "Hardly a one," replied his uncle. "But there are courts elsewhere, you know. The first move, how- ever, may have to be made at the State capital. Get a vote of confidence from your stockholders, so that you can proceed in your own way, and then I'll give you some suggestions." There seemed to be nothing for the Gorman party to do but give him a vote of confidence, and the next day, after receiving that, he consulted with his uncle again. Asa Gorman had aided the man who was now in the Governor's chair, when that politician held the more lowly but in some respects more important office of Speaker of the House in tke Legislature. He had aided him to good investments in return for the Speak- er's service in preventing the passage of a law to reg- ulate the Stock Exchange, which the Gorman firm and its allies did not want to be regulated by either the State or the national government. These and other things were gone over in a long consultation. The Governor's ambition to go to the United States Senate was mentioned more than once. Young Gorman and a committee of his followers went to their opponents the next morning with a plan for a compromise. They would make a fair and open proposition ; yes, very fair and open : since there could be no agreement as to who had been elected, both sides would join in writing to the Governor, asking him to appoint some State official to manage the road until a board of directors satisfactory to all could be elected. After four hours of discussion this offer was accepted, and a joint letter was sent to the capital. THE AMERICAN EMPEROR 47 That evening Clay Gorman and an influential politician started on a secret trip in the same direction. A few days later the troops had been withdrawn from the railway yards, and the road was again peace- fully carrying coal to supply the public needs. Another attempt was made to elect directors, but, as before, two rival sets were chosen, and there were more charges of fraud. This time the president of the road was accused of illegally issuing some thousands of shares of stock to help elect the Gorman ticket. While this point was being argued in court before a Gluten judge, the Gorman party was making its master move. That secret midnight visit to the Governor's office had not been in vain. The Attorney General of the State had, by the Gov- ernor's order, brought a suit against both sets of direct- ors, filing the papers before a judge in the northern part of the State. This judge was a friend of neither faction, but this fact did not prevent his being a friend of the Governor. The petition to him set forth that none of the elections had been legal, spurious votes having been counted for both sides, and that the whole contention should be reviewed by an unprejudiced court. Gluten and Bliss were stunned by the suddenness of this move. In the courts presided over by their pur- chased judges, when they could not frighten their enemies into retreat, they could lay pitfalls and ambus- cades, and lure them to their doom. But in the rural districts they were neither known nor feared. When the case was reviewed, the country judge decided for Gorman, and the New York and Tellahanna railroad passed into his control. 48 THE AMERICAN EMPEROR CHAPTER VI WIFE AND MISTRESS The conqueror returned, feeling much as he fancied Napoleon must have felt after his first notable victory in Italy. And he could imagine the defeated Gluten complaining, in language similar to that of the veteran Austrian general at Montenotte : "He violated all the rules of war. He attacked before daylight, and struck from the flank, the front and the rear all at once and without warning, and acted in all things without order or precedent." But while the losses in the engagement at Monte- notte were some thousands of lives, there had been comparatively few casualties in the struggle between Gorman and his foes. There were two train wrecks, due to incompetent workers hired to replace those who had been induced by bribes to desert their posts. Eleven persons were killed in the first wreck, twenty- two in the second. The State troopers had shot sev- eral workmen while guarding the railway yards. Of course, shippers of merchandise had suffered losses amounting to thousands of dollars in perishable goods, and an epidemic of cholera in a mining town had car- ried off scores of children because physicians from the city could not get there in time. But the suffer- ings of non-combatants were seldom counted in esti- mating the losses of war. "Only the brave deserve the fair," was a refrain that ran through the victor's mind as he rode in his splendid private carriage to his new home in upper Broadway. He had once read a poem with such a THE AMERICAN EMPEROR 49 refrain. It was about Alexander the Great, if he re- membered rightly, but he never had a good memory for poetry. He approved the sentiment, however, and he thought that it should apply to himself. Why should there not be choruses of young girls to strew roses in his path, and put chaplets on his brow, while a beautiful princess — perhaps a fair captive — awaited his return at the end of a triumphal procession ? Here was a fine carriage, it was true. But there were only the solemn coachman and footman to greet him with a merely respectful "Good evening, sir," and they would have been just as respectful had he been de- feated, so long as their wages were paid. Well, he would enjoy the fruits of victory, soon or late — as soon as his beautiful Marie returned to the city, in fact. If she were only here to-night! It was Saturday evening, and the next morning he was to drive to church with his wife. He was now a vestryman in St. Mark's, and he regularly attended services with her whenever he was in the city. She saw so little of him at other times that she was always glad when Sunday came. The rector and the parish- ioners thought them a devoted couple. And the pass- ing of the contribution plate by Gorman was regarded as a kindly and generously performed task by one whose very presence was a bulwark of religion. But, in truth, Millicent and he saw less and less of each other as time went on. They even had separate chambers, after the manner of fashionable foreign folk whose homes he had visited. His occasional absences over night became more and more regular, and finally were regarded by her as a matter of course. His excuses were always the same, "Business conferences," and the words were spoken in tones of increasing curt- 50 THE AMERICAN EMPEROR ness until she ceased to make inquiries. Before the end of a year she took up church work to fill part of the great void in her existence. Returned from Sunday morning service, he was rest- less all the day, reading a little but brooding more. At last, throwing upon the mahogany center table of the library a book of Jefferson's political philosophy which had brought many a sneer to his face, he looked toward his wife and said: "I'm going down to the Everett House this evening. My lawyer wants to talk things over with me and one or two others. And I may have to take another little trip out of town." She laid down her copy of St. Elmo, over which she had often thrilled and sighed in years past, and in which she was now trying to get interested again. She had riches, servants, carriages, she had fashionable gowns and jewels, and with all these she had social prestige as great as she had ever wished for as a novel- reading girl. But not finding romance in real life, she had returned to the kind of fiction that she had loved in her youth in order to recall those gilded visions that had once filled so many day dreams. "Very well, Clay," she responded, quietly. "I was hoping you might be home to-night, for the Hudsons thought of coming in for a while. They are the only neighbors you seem to care anything about." "Oh, Hudson's not a bad sort, but he lacks nerve," he said, as he put on his top coat and pushed back the forelock that had fallen over his brow, the while regarding himself approvingly in a pier glass. "He held back from buying any New York and Tellahanna stock until I had put Gluten and Bliss out of the game. And the case had hardly been decided yesterday when THE AMERICAN EMPEROR 51 he sent me a message saying that he wanted to get in. He won't do." He started away, but turned before reaching the door, walked back to where she was seated and gave her the kiss she expected, but which she knew he bestowed only because it was expected, a knowledge that made it worse than tasteless. Then he sauntered carelessly out of the door, down the graveled path and past the stone pillars that formed the gateway to the brick wall which fenced their colonial home. He did not turn and wave his hand in farewell, as he had never failed to do during the first half year of their married life. She went up to her room half blinded with tears, to spend another night in mourning for her dead love, and in praying for a child. He returned from the conference after midnight — for this time he had really attended a business confer- ence. The next evening he remained at home, and he was more cheerful, and more considerate of her feel- ings than he had been for many weeks. He even con- sented to play checkers with some members of St. Mark's church, who unexpectedly called. Millicent was nearer happy than she had been for an entire year. She did not guess, and she could not know, as she had never dared to search his pockets, that his mood was due to a letter with a Southern post- mark upon it which he had received that morning. The letter exhaled a perfume remindful of its writer, and it read like this : "My Own Deat?: "Your poor Marie is not so happy to-day as she was when yon last saw her. Her eyes are red from weeping, and there is no one to kiss the tears away, which makes her weep asrain. Ah, if you were only here to comfort her in her loneliness and misfortune! But I can write to 52 THE AMERICAN EMPEROR you, knowing that the horrid ocean no longer divides us, as it did during those long weeks when you were away with — with another — another whom you have sworn yott can never love as you love me. That assurance in your last letter, which I have just read, is the one bright and shining star in a sky otherwise dark and storm-clouded. "If only our company had kept out of the South! But I had not been here since my poor dear mamma died, and I wanted to see dear old New Orleans again. And our manager thought that by this time the large Southern towns would pay well enough. But from the time we left St Louis things went badly. At Memphis, at Nash- ville, at Natchez, at Mobile, at Baton Rouge, the attend- ance dwindled more and more. It is not that the best people — the kind that would come to our plays — have a prejudice against a Northern troupe. They are above that in matters of art, and besides I was born in the South, and many of them know it. But the class that supports our kind of theatricals are still working to build up ruined plantations, and they have no time or money for amuse- ments, and the commercial people who have begun to make the most money in railroads and things don't know how to spend it. "Why, just think, dear, I have worn the same street dress ever since I left New York in August — and this is November fifteenth! And I have worn out my last pair of silk stockings. I dare not raise my dress above my ankles in crossing a street, for I must not be known to wear cotton ones. Part of the troupe left us at Mobile for lack of salaries, and we have had to double up in parts since. Two nights ago Mr. Hammond, the manager, decided it was no use, and closed after the second per- formance of 'The Taming of the Shrew,' when we had intended to play for a week. And here we are in Louis- ville, unable to raise enough money to get us even as far as Pittsburgh. And I, with a board bill of sixty-six dollars for myself and maid, and almost too shabby to appear on the street! "Oh, my dear, if I could only be back in New York where I could be comforted by you as no one else can comfort me! That dear hotel apartment where we were so often happy together! And those drives in the park, and over country roads at dusk, when I sometimes had to make you behave — ah, will I ever be happy again!!! "If I were there now I know I could organize a better company of my own, and start over again this season. There is a rich manager of another company here who wants to advance me five thousand dollars. But I don't like the way he looks at me, even if he is thought hand- some by some women. Yet he is so kind, and it seems that so very few people m this dark and gloomy world THE AMERICAN EMPEROR 53 are kind to your Marie any more. She is lonely and miserable, and doesn't know what do. Write her a nice, long letter. Your last one is now her most precious possession, and it reposes next her heart. The way you referred to Napoleon's letters to Josephine — how he sent her kisses, but didn't want her to send him any, since they always set him on fire, and how you wanted me to send you kisses, even if they did burn, as you would willingly be consumed in such a flame — ah, that was so beautiful and full of meaning! "I must close now, for I would not worry you, dear, with all your business and matrimonial cares. There is one woman to be envied above all others in this world, and she is there by your side. And there is one to be pitied above all others, and she is here — your sorrowful and lonely but loving "Makie." When Gorman had finished this, he picked up an order he had just written to a furrier for a complete set of sealskins for his wife's birthday. He tore that to fragments, and then he wrote a long letter, enclosed a check of large size, and mailed it to Louisville. A week later, in a closed cariage, he crossed on the ferry to Jersey City to meet a train from the West. He did not return home that night, nor the next night, nor for several nights thereafter. Two weeks later the dramatic columns of all the newspapers announced : "Marie Dalton, after an only partly successful tour of the West and South, has formed a new company of her own, to play a repertoire of the best classic and modern drama. She will spend the remainder of the season in New York." CHAPTER VII A PROFIT OF ONE MILLION "Why, Clay, you almost take my breath away !" said Asa Gorman, looking at him with new interest and admiration. "I myself would hardly have dared to 54 THE AMERICAN EMPEROR float so much capital on such a road. It's seventy-five thousand or more for each mile. But I'm proud of you, and I hope you can make it go." "Oh, the bonds are being placed all right, and so are the stocks. The investors, of course, don't know that the hundred and fifty miles of road could be dupli- cated for thirty thousand a mile. But the value I have set on it will be realized soon, for I have made a com- bination with the rival line on rates, and besides, the natural growth of the coal traffic will help along. Of course, some of the securities will have to go to Bilkins and his crowd of the other road." "And the new capital is eight millions !" mused the old man. "And on top of that, four per cent, bonds to the amount of three millions more will be floated. Well, our international prestige will probably carry it through. It's lucky that Gluten is so busy corner- ing the gold market, or else he might turn his bat- teries on us in revenge." "Yes, I decided that this was the psychological hour to put the deal through," said the younger man, draw- ing complacently on a strong Havana, and watching the rings float lazily out of the open office window into the April sunshine. "There's only a little criticism so far, which comes from a paper whose owner is friendly to a small clique of stockholders whom I wouldn't let in on the cutting of the big melon. The paper is the Luminary, and it has quite a following, because Dalaman, who runs it, was in Lincoln's cab- inet. As if that made any difference in Dalaman's motives !" "It makes no actual difference in his motives, but the Lincolnesque halo he wears makes a difference in the public mind," rejoined the uncle. "You've got to be THE AMERICAN EMPEROR 55 careful how you handle the press. The libel laws are looser here than in any other country, and sometimes one paper can start an agitation that will smash the biggest of plans. Gluten's success is largely due to the fact that he owns one paper, and knows how to influ- ence others at critical times. And I have headed off more than one attack by diplomacy. 'Give a hound a bone,' is my motto, when the chase gets too hot. Dala- man probably wants a share of those stocks, or maybe he'd prefer the bonds, as he's pretty wise, and if you let him in on low terms, he will probably give no more space to those complaints." "I haven't told you what my share for reorganizing the road is to be," Clay resumed, after a time. "Of course, I and my friends will run things, but besides controlling a majority of the stock I have placed a million of the bonds to my personal credit." "A million? Well, I think that beats any single deal thus far pulled of! by anyone. But what do the stockholders say to that?" "Some of them squealed, but I had them in a cor- ner. I said, Til place these securities on the terms named, or not at all.' The prestige of our house, and the politicians in our following and whose non-inter- ference I told them I felt sure of, made them realize that they would better come to my terms. Besides, the promised rise in rates helped to win over the principal kickers, for it will really make their new shares worth more than the old ones. Of course, too, I looked after my friends of the new directorate." "And now you're a millionaire in your own right," continued the old man, admiringly. "Well, well, and you are barely thirty. I knew you had it in you, though I didn't think you'd do it so soon. But keep 56 THE AMERICAN EMPEROR a cool head. There are as many fine fish in the sea as were ever caught. Always be an optimist in the mar- ket — a bull, as they say on 'Change. This country is going to outdistance the world in business, and the railroads are the key to the situation — the railroads and capital. But I am growing old — yes, growing old," and he looked moodily out of the window. These words of his uncle started a train of thought in Clay's mind. And long after the old man and the clerks had gone home for the day, and the traffic in the narrow streets of the financial district had ceased, and dusk had settled upon all the marts of trade, and the gas lights at street corners shone upon only an occasional wayfarer, he sat, meditating. A million dollars ! He had "made" within much less than one year the amount of the President's salary as it then was for forty years. He could retire now, and continue to receive as long as he lived,, and his heirs after him could receive indefinitely an income from this million, at the modest rate of five per cent., of twice the President's salary. Why, then, should he long for the fleeting glory, with its puny financial rewards, of the greatest office possible to win in this country? A million dollars ! It was more than the King of Saxony received in a year for the support of all his royal household. Was not he, Gorman, then, in the class of royalty, by virtue of his surpassing financial legerdemain ? Aye, and he was superior to some of the proudest of European monarchs in his income for this year, and if he kept on at the rate he was going, what triumphs were not possible? But to consider this year alone : There was the Queen of Holland, with her civil list of three hundred thousand, and the King of Servia, with his paltry two hundred thousand, and the King of THE AMERICAN EMPEROR 57 Wurtemburg, with his five hundred thousand. These three monarchs together received only as much as he had made by a single Napoleonic coup in finance. A million dollars ! His mathematical mind pondered the sum. A dollar a day was the wages of a laborer on his railroad — his railroad, on which he had never traveled till after it became his, and parts of which he had not seen even yet. If such a laborer, who digged in the soil, and laid the ties, and fastened the rails to them, and did other back-breaking work to make his dollar each day, were to undertake to make a million dollars, how long would it take him? Why, it would take a million days, without allowing for holidays or for accidents, for sickness, or pestilence, or famine. It would take a million days to make, not to save, a million dollars. And by dividing the figure 1,000,000 by 365, one might learn the number of necessary years of toil. The answer was 2,739. Two thousand, seven hundred and thirty-nine years would be required, not counting a twelvemonth or two extra on account of leap years, and the laborer would have to be endowed with immortality. And where would this take him in history? It would take him back eight hundred years before the birth of Julius Caesar, and more than eight hundred years before the appearance of the Crucified One, whose name Gorman glorified in the hymns he sang every Sunday morning. Just then he felt a pang in his stomach, which re- minded him he had forgotten dinner. He suddenly felt very hungry. His cigar had long since gone out. He lighted another to appease his appetite until he reached home, and left the office. As he stepped upon the sidewalk, he saw a bent and aged man under the gas lamp on the corner. The man 58 THE AMERICAN EMPEROR was poorly dressed, and he walked with a shuffling gait, and Gorman knew that he was a beggar before he heard his whining plea for alms. The old man's eyes lighted up as he saw the large diamond in Gorman's cravat and the heavy gold watch chain which hung across his stomach from pockets on either side of his silken waistcoat. "I have not had a bite to eat since yesterday," he began, and his gaunt appearance justified his words. Gorman had been in the habit of giving to any beg- gar who seemed really deserving a twenty-five cent piece. But now he felt in his pocket, brought forth several quarters and dimes, and carefully selected one of the smaller coins. He handed this to the beggar, put the rest back in his pocket and then walked hur- riedly away. He was feeling, in greater degree than ever before, the responsibilities of wealth. CHAPTER VIII HIS FIRST-BORN "It is a boy, Clay," the fond mother said, holding aside the silken hangings of the canopy of the Napo- leon bed. His soul had expanded with a joy that only the father of a first-born child may know. And it was a joy greater than that felt by the ordinary father, as his ambition was greater. Now he would have an heir and, as the child was a male, a successor to his growing fortune and — dominions. Yes, his estate would be THE AMERICAN EMPEROR 59 such that a common word would not express it. It should and would be something worthy of a child born in the kind of bed in which his child had first seen the light of day. He had bought that bed of an impoverished French widow, who had lived near his uncle's mansion. It had been in her family's possession since the days of the Empire. Regally it stood upon its massive posts of carved mahogany, its feet shaped like a lion's claws, its four tall supports to the canopy topped by bronze eagles. He had slept in the bed ever since his bachelor days, and until several months after Millicent had become enciente (he preferred the French word), when it was moved into her chamber. For the first time in two years there had been some- thing akin to rapture in the kiss he gave her when she said, "It's a boy, Clay." And for the next few days she had been nearer happy than at any time since the early days of their honeymoon. He showered her with Marechal Niel roses until she reposed upon a couch of golden, fragrant beauty, and he waited upon her with all a lover's gallantry, and gave her frequent caresses with almost a lover's fervor. Was she not the mother of his heir — his heir, who was to succeed to his dominions? And he had begun to fear that she would not have a child, after all. CHAPTER IX THE GREAT REORGANIZER "I see that another railroad wants you to reorganize it," remarked Asa Gorman, looking up from his morn- 60 THE AMERICAN EMPEROR ing paper, as Clay entered the office. "You didn't tell me about it. This makes five, doesn't it, in the last two years ?" "Yes," said Clay, "and this is the biggest of all. I didn't mention it because I was not yet sure. The news must have been given out at the Ohio headquarters of the road. That means they have come to my terms." "How you do put the deals through ! I take as much pride in them as though I myself was the moving spirit, instead of being an old man who lacked foresight in his own youth. Here, take this Havana — it's the real thing, and hard to get nowadays, since the Cuban revolt is on. Now tell me about this latest deal." "Well, uncle," said Clay, lighting the fifty-cent cigar and whiffing the smoke ceilingward in graceful wreaths, "without your aid and prestige from the beginning, I wouldn't have been half so good at this reorganizing business. But about this latest," and then he narrated his work in putting another system on its financial feet, and told of his plan to place two mil- lions in securities to the credit of Gorman & Company. "It was high time something like this was done to bring order out of chaos," mused the old man, after the recital. "The situation is frightful, compared with any other country in the world. A hundred rail- way systems have been wrecked by their organizers, and interest payments defaulted on near half a billion of bonds, and State and national governments have been euchered out of the many millions they were so kind as to loan to the promoters. If this were a monarchy, and the people knew how things had been going, the throne would be overturned damned quick." "I suppose you know," said Clay, "how men of straw have held shares amounting to as much as half a mil- THE AMERICAN EMPEROR 61 lion each in some companies, while many directorships were filled by the same man ?" "Yes, and how porters and office boys have been made directors to vote for extensions or for contracts to supply materials at enormous prices to enrich the ruling clique. Many other crooked deals have been put through. There is not one American road upon which some or most of these things were not done, and on which they will not continue to be done. But there is no comparison in the world with the land grants and government bond issues, and the over- capitalization." "But many of these things strike me as petty and unscientific," Clay went on. "Agreements on rates, the organization of supply companies on a large scale, re- bates to powerful shippers to put rivals out of busi- ness, and the respectable selling of stocks and bonds on 'Change, based on whatever capitalization we want to fix — that is the way to do things." ''Fine ! Fine ! I see you've got the scientific idea," chuckled the old man. "And always look after the politicians, too — the leaders, you know. Never mind the small fry." "Of course not," returned Clay, lighting another cigar. "The Napoleonic idea of going to the centre is the thing. If you get the strategic centre, the rest is easy. Now, there's the Governor in this State, and the chairman of the State Committee. They know how to do things, and the little politicians know they will get no party promotion if they oppose them. And so it is in " "The politicians are getting more greedy, though," Asa Gorman broke in. He was occasionally hard of hearing, and he often interrupted another person thus 62 THE AMERICAN EMPEROR unless he saw the other's lips moving. "Thirty dollars a man used to be the price in the New York Legislature and it seldom went above fifty. Now it's a hundred. Some want four or five hundred, and others will take thirty or forty, so I'm told, but the average is a hun- dred. In Massachusetts, and in a few far Western States, the average is about fifty. Of course, there's always some that won't be induced to vote one way or another if they don't want to, for any consideration, not even political promotion, but the majority can always be won over. That's been the experience of De Blick and his crowd, anyhow, and they've got the rail- roads of this State and Jersey well in hand." "Oh, yes, the majority always can be handled," said the nephew. "And what can't be done in one State can be done in another. Gluten bought a whole county- ful of free and independent citizens in West Virginia recently to put through an important connection for one of his roads — lined 'em up and gave 'em two to five dollars each, and thus beat the county board which was trying to keep him out. The same thing's been done in other States. They say Gluten never bothers to elect anyone to office. He waits till after election and then goes after the men he needs. He says it's simpler." "Yes, but campaign funds and stocks and bonds are the more scientific — always remember that," and the old man never looked more serious, or more wise "Gluten is a brilliant meteor, but he leaves too many tracks, and he rouses strong opposition — needlesslv so, I think." "Speaking of greedy politicians," continued Clay, "I don't know of any whose greed equals that of the fed- eral judge who ordered the sale of the J. and B. road which I'm going to reorganize. He appointed one of THE AMERICAN EMPEROR 63 his former law partners receiver, and the receiver's fee for simply selling the road, and which the court cheer- fully allowed, was fifty thousand — for one hour's work, mind you. Of course the judg"e must have got at least half of that." "Oh, yes, those fellows come high. But never oppose them, except through some other lawyer. The courts are the best bulwark that our financial struc- ture has. And remember that in two decisions : the Georgia land grant case in seventeen-ninety some- ing, and the Dartmouth College case as argued by the great Daniel Webster, the federal Supreme Court has done more for property rights than was ever done by the judges of any one other court in the world. These decisions are the twin pillars of modern corporate power. In the first case there had been charges of bribery, but it was decided that no matter how the Legislature was influenced to make its grant, the grant must stand, even though the succeeding Legislature tried to rescind its action. In the second, the court held that a charter once granted could not be revoked for any cause. So, you see, the judges by these decis- ions, and by their ability to maintain their superioritv to law-making bodies, though the Constitution does not give them that superiority, have made themselves indis- pensable to our class — especially the federal judiciary, who are appointed for life." "You have a good command of law, even if you are not a lawyer," said Clay, admiringly. "But I have a better command of lawyers," amended the old man. "Now, take Burlemuth, our clever counsel " "That reminds me," interposed his nephew, taking a 64 THE AMERICAN EMPEROR letter from his pocket "Here is something from Burlermith. He seems to know how to do things, as this will show. Your wisdom in picking him off the bench to make him our chief of counsel in Pennsyl- vania at twice his official salary is justified. But read this." Asa Gorman took the letter and read : "Our new reform Governor does not yield to the usual arguments, and we will have to bring about the desired result in some more indirect manner. As you know, the general distrust of the Legislature, due to disclosures as to how coal and other lands have been given away in past years, led to the passage of especially stringent laws against bribery. The penalties were doubled, and the language of the statute is more sweeping than that in any other State. "It was particularly hard to obtain the passage of the bill so much desired by the New York and Tellahanna stock- holders — the one permitting one railway company to own the shares of another company, so that an advantageous combination of roads could be brought about Legislators feared to vote for even so worthy a measure, on account of the state of public feeling. However, the desired result has been brought about A full report of the lega.t expenses involved will be made upon my return. But now the Governor proves a stumbling block. He wants another term, and he fears that even such a thing as the possession by him of railway stocks or bonds would be construed by some persons as something in his disfavor, if it should ever become known. He was elected on a reform wave, and he has Senatorial ambitions. "Well, to get to the point: He has some waste land somewhere in the Allegheny foothills, upon which he is willing to take a mortgage of thirty thousand. He wants to send his family upon a tour of Europe, and then build a new house for them to move into as soon as they return. He is so busy planning these things that he tells me he has had no time to think over the merits or demerits of that railway bilL If I were to take that mortgage off his mind he could find time to consider the bill, and I believe he would consider it favorably. There may be— remem- ber, I do not say there are — but there may be rich coal deposits underlying his land. Anyhow, we should be willing to take chances, and in the interests of the New York and Tellahanna I am willing to assume the mortgage if allowed the necessary legal expenses." THE AMERICAN EMPEROR 65 "By God !" ejaculated the old man. "That is a new one, but it is clever. Well, you're running that rail- road, and you know best what to do. I've always found, for my part, though, that the way to succeed is to succeed." The genius of young Mr. Gorman in extending the New York and Tallahanna road and in doubling its dividends that year added greatly to his reputation. His fortune now mounted rapidly. His fee for reor- gaizing a road grew to be a million and a half, then two millions, and, finally, in the case of a great sys- tem, three millions. He began to be looked upon as the greatest and safest of all reorganizers. He seemed to be the one man who always knew what to do and fear- lessly did it. CHAPTER X A POLITICAL CONTEST "What a splendid fight you are making, James! You are a host in yourself. I shall be proud of you, prouder even than I now am, if to-night you can put to rout those clever debaters imported to champion the railway's cause, and win over an opera house full of hostile people." "I don't doubt that I can win them over, if I am allowed to make my argument without interruption," replied Congressman Delaval. "But remember that, even though I am elected to the Senate, it will be only the beginning. There is probably but one, or perhaps there are two Senators in Washington, who dare to 66 THE AMERICAN EMPEROR favor government ownership of roads. There are immense obstacles to overcome before one of the big* parties will take up the cause in a national election." "Ah, but you are sure to bring it about, if any one can," said the Congressman's wife, with confidence born of pride, as they drove through the streets of Richmond on the way to the meeting. "I cannot imagine any obstacle that you can't overcome, since you have done so much." "There are dozens which I can imagine, however." he responded, grimly, though he smiled at her words, feeling a thrill of happiness over her devotion. "Some of my most powerful aids have been seduced away from me in this contest. I myself was offered, only last week, four times the salary of a Senator if I would become chief counsel of the Virginia Central for Gor- man." "But of course you refused?" "I sent back word that there was not enough money in the federal treasury to cause me to go over to the interests I have been fighting so long. I want those people to understand that there is one lawyer in politics who is not for sale." She kissed him as the carriage halted before the opera house door, and then, to the mingled sounds of acclaim and disapproval, the sidewalk crowds parted to make way for the speaker of the evening to enter the hall. Beaten in the courts after three years of effort to prevent Gorman's reorganization of the Virginia Cen- tral, Congressman Delaval had decided that the only way to curb the railway power was for the govern- ment to own the railroads. He had twice been elected to the House on the issue, and now was fighting his THE AMERICAN EMPEROR 67 way into the Senate. He was a magnetic orator, and the money that was poured out to defeat him produced little effect. Only an occasional member of the Legis- lature could be elected without a pledge to work for Delaval for Senator. His campaign had stirred up the Old Dominion as it had not been stirred since the close of the war. His success now would mean a pow- erful impetus throughout the country to the cause of government ownership. It seemed that at last after many years of costly misrule, the people might come into their own. "The railway power in America," he said in his speech that night, "is already the most gigantic power in the world's commercial history, and it is advancing at a rate that augurs ill for the future of the republic. We now have more railways than Germany and Great Britain and France and Austria combined. And we have all of the ills of manage- ment which those countries know, magnified many times, and we have few of their benefits. I could cite volumes of facts to prove this, but a few will suf- fice. And I shall begin by quoting, not from a political pamphlet, but from a book written by one of the Wall Street oligarchy— by none other than Richard Burton. It is entitled Twenty Years on the Stock Exchange. In a moment of frankness, he says in this book : " 'The actual cost of a railroad is ordinarily less than fifty per cent, of the stock and bonds issued against the property and its first mortgage exceeds the amount of legitimate actual cost of building. Beyond the profit made from construction, there remains in the hands of the builders the ent.re capital stock, besides any second mort- foTA° P M S