The Chainbearer Part 52

"All that may be true, for there have been calculated attempts to bring us into discredit of late, by harping on the failure of certain States to pay the interest on their debts. But all that is easily answered, and more so by you and me as New Yorkers. There is not a nation in Europe that would pay its interest, if those who are taxed to do so had the control of these taxes, and the power to say whether they were to be levied or not."

"I do not see how that mends the matter. These countries tell us that such is the effect of your _system_ there, while we are too honest to allow such a system to _exist_ in this part of the world."

"Pooh! all gammon, that. They prevent the existence of our system for very different reasons, and they coerce the payment of the interest on their debts that they may borrow more. This business of repudiation, as it is called, however, has been miserably misrepresented; and there is no answering a falsehood by an argument. No American State has repudiated its debt, that I know of, though several have been unable to meet their engagements as they have fallen due."

"_Unable_, uncle Ro?"

"Yes, _unable_--that is the precise word. Take Pennsylvania, for instance; that is one of the richest communities in the civilized world; its coal and iron alone would make any country affluent, and a portion of its agricultural population is one of the most affluent I know of.

Nevertheless, Pennsylvania, owing to a concurrence of events, _could_ not pay the interest on her debt for two years and a half, though she is doing it now, and will doubtless continue to do it. The sudden breaking down of that colossal moneyed inst.i.tution, the _soi-disant_ Bank of the United States, after it ceased to be in reality a bank of the government, brought about such a state of the circulation as rendered payment, by any of the ordinary means known to government, _impossible_.

I know what I say, and repeat _impossible_. It is well known that many persons, accustomed to affluence, had to carry their plate to the mint, in order to obtain money to go to market. Then something may be attributed to the inst.i.tutions, without disparaging a people's honesty.

Our inst.i.tutions are popular, just as those of France are the reverse; and the people, they who were on the spot--the home creditor, with his account unpaid, and with his friends and relatives in the legislature, and present to aid him, contended for his own money, before any should be sent abroad."

"Was that exactly right, sir?"

"Certainly not; it was exactly wrong, but very particularly natural. Do you suppose the king of France would not take the money for his civil list, if circ.u.mstances should compel the country to suspend on the debt for a year or two, or the ministers their salaries? My word for it, each and all of them would prefer themselves as creditors, and act accordingly. Every one of these countries has suspended in some form or other, and in many instances balanced the account with the sponge. Their clamor against us is altogether calculated with a view to political effect."

"Still, I wish Pennsylvania, for instance, had continued to pay, at every hazard."

"It is well enough to wish, Hugh: but it is wishing for an impossibility. Then you and I, as New Yorkers, have nothing to do with the debt of Pennsylvania, no more than London would have to do with the debt of Dublin or Quebec. _We_ have always paid _our_ interest, and, what is more, paid it more honestly, if honesty be the point, than even England has paid hers. When _our_ banks suspended, the State paid its interest in as much paper as would buy the specie in open market; whereas England made paper legal tender, and paid the interest on her debt in it for something like five-and-twenty years, and that, too, when her paper was at a large discount. I knew of one American who held near a million of dollars in the English debt, on which he had to take unconvertible paper for the interest for a long series of years. No, no!

this is all gammon, Hugh, and is not to be regarded as making us a whit worse than our neighbors. The equality of our laws is the fact in which I glory!"

"If the rich stood as fair a chance as the poor, Uncle Ro."

"There _is_ a screw loose there, I must confess; but it amounts to no great matter."

"Then the late bankrupt law?"

"Ay, that was an infernal procedure--that much I will acknowledge, too.

It was special legislation enacted to pay particular debts, and the law was repealed as soon as it had done its duty. That is a much darker spot in our history than what is called repudiation, though perfectly honest men voted for it."

"Did you ever hear of a farce they got up about it at New York, just after we sailed?"

"Never; what was it, Hugh? though American plays are pretty much all farces."

"This was a little better than common, and, on the whole, really clever.

It is the old story of Faust, in which a young spendthrift sells himself, soul and body, to the devil. On a certain evening, as he is making merry with a set of wild companions, his creditor arrives, and, insisting on seeing the master, is admitted by the servant. He comes on, club-footed and behorned, as usual, and betailed, too, I believe; but Tom is not to be scared by trifles. He insists on his guest being seated, on his taking a gla.s.s of wine, and then on d.i.c.k's finishing his song. But, though the rest of the company had signed no bonds to Satan, they had certain outstanding book-debts, which made them excessively uncomfortable; and the odor of brimstone being rather strong, Tom arose, approached his guest, and desired to know the nature of the particular business he had mentioned to his servant. 'This bond, sir,' said Satan, significantly. 'This bond? what of it, pray? It seems all right.' 'Is not that your signature?' 'I admit it.' 'Signed in your blood?' 'A conceit of your own; I told you at the time that ink was just as good in law.' 'It is past due, seven minutes and fourteen seconds.' 'So it is, I declare! but what of that?' 'I demand payment.' 'Nonsense! no one thinks of paying nowadays. Why, even Pennsylvania and Maryland don't pay.' 'I insist on payment' 'Oh! you do, do you?' Tom draws a paper from his pocket, and adds, magnificently, 'There, then, if you're so urgent--there is a discharge under the new bankrupt law, signed Smith Thompson.' This knocked the devil into a c.o.c.ked-hat at once."

My uncle laughed heartily at my story; but, instead of taking the matter as I had fancied he might, it made him think better of the country than ever.

"Well, Hugh, we have wit among us, it must be confessed," he cried, with the tears running down his cheeks, "if we have some rascally laws, and some rascals to administer them. But here comes Jacob with his letters and papers--I declare, the fellow has a large basketful."

Jacob, a highly respectable black, and the great-grandson of an old negro named Jaaf, or Yop, who was then living on my own estate at Ravensnest, had just then entered, with the porter and himself lugging in the basket in question. There were several hundred newspapers, and quite a hundred letters. The sight brought home and America clearly and vividly before us; and having nearly finished the dessert, we rose to look at the packages. It was no small task to sort our mail, there being so many letters and packages to be divided.

"Here are some newspapers I never saw before," said my uncle, as he tumbled over the pile; "_The Guardian of the Soil_--that must have something to do with Oregon."

"I dare say it has, sir. Here are at least a dozen letters from my sister."

"Ay, _your_ sister is single, and can still think of her brother; but mine are married, and one letter a year would be a great deal. This is my dear old mother's hand, however; that is something. Ursula Malbone would never forget her child. Well, _bon soir_, Hugh. Each of us has enough to do for one evening."

"_Au revoir_, sir. We shall meet at ten to-morrow, when we can compare our news, and exchange gossip."

CHAPTER II.

"Why droops my lord, like over-ripened corn, Hanging the head at Ceres' plenteous load?"

--_King Henry VI._

I did not get into my bed that night until two, nor was I out of it until half-past nine. It was near eleven when Jacob came to tell me his master was in the _salle a manger_, and ready to eat his breakfast. I hastened up stairs, sleeping in the _entresol_, and was at table with my uncle in three minutes. I observed, on entering, that he was very grave, and I now perceived that a couple of letters, and several American newspapers, lay near him. His "Good-morrow, Hugh," was kind and affectionate as usual, but I fancied it sad.

"No bad news from home, I hope, sir?" I exclaimed, under the first impulse of feeling. "Martha's last letter is of quite recent date, and she writes very cheerfully. I _know_ that my grandmother was perfectly well six weeks since."

"I know the same, Hugh, for I have a letter from herself, written with her own blessed hand. My mother is in excellent health for a woman of fourscore; but she naturally wishes to see us, and you in particular.

Grandchildren are ever the pets with grandmothers."

"I am glad to hear all this, sir; for I was really afraid, on entering the room, that you had received some unpleasant news."

"And is all your news pleasant, after so long a silence?"

"Nothing that is disagreeable, I do a.s.sure you. Patt writes in charming spirits, and I dare say is in blooming beauty by this time, though she tells me that she is generally thought rather plain. _That_ is impossible; for you know when we left her, at fifteen, she had every promise of great beauty."

"As you say, it is impossible that Martha Littlepage should be anything but handsome; for fifteen is an age when, in America, one may safely predict the woman's appearance. Your sister is preparing for you an agreeable surprise. I have heard old persons say that she was very like my mother at the same time of life; and Dus Malbone was a sort of toast once in the forest."

"I dare say it is all as you think; more especially as there are several allusions to a certain Harry Beekman in her letters, at which I should feel flattered, were I in Mr. Harry's place. Do you happen to know anything of such a family as the Beekmans, sir?"

My uncle looked up in a little surprise at this question. A thorough New Yorker by birth, a.s.sociations, alliances and feelings, he held all the old names of the colony and State in profound respect; and I had often heard him sneer at the manner in which the new-comers of my day, who had appeared among us to blossom like the rose, scattered their odors through the land. It was but a natural thing that a community which had grown in population, in half a century, from half a million to two millions and a half, and that as much by immigration from adjoining communities as by natural increase, should undergo some change of feeling in this respect; but, on the other hand, it was just as natural that the true New Yorker should not.

"Of course you know, Hugh, that it is an ancient and respected name among us," answered my uncle, after he had given me the look of surprise I have already mentioned. "There is a branch of the Beekmans, or Bakemans, as we used to call them, settled near Satanstoe; and I dare say that your sister, in her frequent visits to my mother, has met with them. The a.s.sociation would be but natural; and the other feeling to which you allude is, I dare say, but natural to the a.s.sociation, though I cannot say I ever experienced it."

"You will still adhere to your a.s.severations of never having been the victim of Cupid, I find, sir."

"Hugh, Hugh! let us trifle no more. There is news from home that has almost broken my heart."

I sat gazing at my uncle in wonder and alarm, while he placed both his hands on his face, as if to exclude this wicked world, and all it contained, from his sight. I did not speak, for I saw that the old gentleman was really affected, but waited his pleasure to communicate more. My impatience was soon relieved, however, as the hands were removed, and I once more caught a view of my uncle's handsome, but clouded countenance.

"May I ask the nature of this news?" I then ventured to inquire.

"You may, and I shall now tell you. It is proper, indeed, that you should hear all, and understand it all; for you have a direct interest in the matter, and a large portion of your property is dependent on the result. Had not the manor troubles, as they were called, been spoken of before we left home?"

"Certainly, though not to any great extent. We saw something of it in the papers, I remember, just before we went to Russia; and I recollect you mentioned it as a discreditable affair to the State, though likely to lead to no very important result."

"So I then thought; but that hope has been delusive. There were some reasons why a population like ours should chafe under the situation of the estate of the late Patroon that I thought natural, though unjustifiable; for it is unhappily too much a law of humanity to do that which is wrong, more especially in matters connected with the pocket."

"I do not exactly understand your allusions, sir."

"It is easily explained. The Van Rensselaer property is, in the first place, of great extent--the manor, as it is still called and once was, spreading east and west eight-and-forty miles, and north and south twenty-four. With a few immaterial exceptions, including the sites of three or four towns, three of which are cities containing respectively six, twenty, and forty thousand souls, this large surface was the property of a single individual. Since his death, it has become the property of two, subject to the conditions of the leases, of which by far the greater portion are what are called durable."