"Which would not suit you, Jowler," retorted Ralph, sneering assiduously to conceal his wrath, and perhaps his dismay. "But it might be well for the country and for the bank itself, that it should not have any funds to dissipate in the bark business. I say 'dissipate' designedly, gentlemen. I know of four cargoes of cutch and gambler now on the way for this port, with more to follow. Bark prices must collapse, and the less we have to do with the article at present, the better for us. It is well for the country, I consider, that discouragement should arise to stop the reckless destruction of our hemlock forests. If Jowler and his like are allowed their way, we shall not have a hemlock left standing in ten years' time." "And how much better off is the bank with its tons of plumbago, which cannot be brought to market?" retorted Jowler angrily. "The plumbago paper has been renewed three times already, and the amount increased without the sanction of the board." "Are we not drifting into a wrangle, gentlemen, and wasting time to no good purpose?" said Mr. Seebright, of the _Journal_. "The bank settlements are going against us week after week, and the specie reserve is running down. What are we to do? That is the question." "Circulation going down every day," added Petipomme, with an air of wisdom. "And pray, gentlemen, did you ever know it otherwise at this season?" cried Ralph, eager to score any point an injudicious speaker might put in his way. "Look into the government returns for last year, look into them for any year, and you will find the circulation of the country reaches its lowest points in August and February. It has several weeks to go on diminishing yet, but it is larger than it was this time last year. Wait till September, and you will see it go up and increase steadily till it reaches its highest point in November. The thing is as regular as the seasons, and no resolution this board can pass will alter it." "All very true, President," said Seebright; "but this drain of the reserve must be stopped somehow. How do you propose to do it? We must contract--realize. Where shall we begin to prune?" Ralph was silent. He wanted to borrow more, and with the particulars of the account actually on the table, it seemed best not to excite ill-will by proposing to impose a reduction on any one else. Jowler had taken up a share list to cover his chagrin under Ralph's attack; he now laid it down with a loud "Hillo! St. Euphrase mining shares down four per cent since yesterday! What's up, President? Things going badly?" "I walked down street with old Mr. Premium this morning," said Petipomme--"parted from him not half-an-hour ago. He says there's something up, he could not make out what, but some villager had been to him, eager to sell out at once, and at any price. The man was very close and would say nothing, but he was so eager that Premium grew panicky and was going to unload."