Banks and banking -- France -- History -- 19th -- Fiction
Tears of grief and anger had risen to Hamelin's eyes. To think that
this should have happened when he had just so auspiciously laid at Rome
the foundations of his great Catholic bank, that Treasury of the Holy
Sepulchre which, in the approaching days of persecution, would enable
the Pope to be regally installed at Jerusalem, amid the legendary
glory of the Holy Places--a bank destined to set the new Kingdom of
Palestine beyond the reach of political disturbances, by basing its
revenue, guaranteed by the resources of the country, on a series of
issues which the Christians of the whole world would vie in taking up!
And all this collapsed at one stroke through the imbecile madness of
gambling! He had gone away leaving an admirable balance-sheet, coffers
full of money, a Bank enjoying such great and speedy prosperity that it
was the wonder of the world; and, less than a month afterwards, when
he came back, the millions had melted away, the Bank was prostrate,
reduced to dust, and there was nothing but a black hole, in which a
conflagration seemed to have raged. His stupefaction increased; he
violently demanded explanations, wished to understand what mysterious
force it was that had driven Saccard to wage this relentless warfare
upon the colossal edifice which he had built so as to destroy it, stone
by stone, on the one hand, while he pretended to finish it upon the
other.
Saccard answered very frankly, and without anger. After the first hours
of emotion and annihilation, he had recovered his self-possession, and
was again erect and firm, buoyed up by his indomitable hopes. Treachery
had rendered the catastrophe a terrible one, but nothing was lost; he
was going to retrieve everything. And besides, if the Universal had
enjoyed such swift and great prosperity, had it not owed it to the
very methods with which they now reproached him--to the creation of
the syndicate, the successive increases of the capital, the advance
balance-sheet of the last shareholders' meeting, the shares which the
Bank retained in hand, and those which had been so wildly purchased _en
masse_ later on? All these things were connected. If they accepted the
success, the risks must be accepted also. When a machine is overheated
it bursts. For the rest, he would acknowledge no culpability; he had
simply done, more intelligently and vigorously than another, that
which every bank manager does; and he did not even abandon his idea of
genius--his giant idea of repurchasing all the shares and dethroning
Gundermann. Money had been lacking, that was all. And now they must
begin over again. A special shareholders' meeting had just been
summoned for the following Monday; he was absolutely certain of his
shareholders, he said; he would obtain from them the sacrifices that
were indispensable, for he was convinced that, at a word from him,
they would all bring their fortunes. In the meantime they could jog
on, thanks to the small sums which the other financial houses, the
Public-domain text, read in full here on John Shaqi.
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