speculation—a flimsy, cheap speculation, with a chance of loss so entirely out of proportion to the slight advantage he gains over other policy-holders that no man with a grain of sense would consider it for a moment. To secure a discount on his premium he risks his whole policy. Why, in your case you would put a two-thousand-dollar policy in danger to save a few miserable dollars. It isn’t cleverness, it isn’t shrewdness, it isn’t business, it isn’t sense; it isn’t anything but damn foolishness. Do you understand?” “Sure,” answered Adolph. “If we iss found out, I looss the policy and you looss a fine. We both looss.” “That’s it exactly.” “Vell, if we both looss by telling, who iss going to find it out?” demanded Adolph triumphantly. “You bet you, I take the chance. Go ahead with her.” Murray leaned wearily back in his chair. “You’d better get out of here,” he said. “This company wouldn’t issue a policy in which you had any sort of interest on any terms. I was curious to discover if I could not stir up just a glimmer of business sense in you, and my curiosity is satisfied. You seem to me like a man who would risk all his money to win a fly-speck, if he thought he was going to win it by some underhand deal. Get out as quick as you can! But I tell you again, don’t fool with rebates!” Adolph stopped in the doorway. “You got to haf the whole commission, yes?” he remarked with accusing bitterness. “I take you for a hog.” Then he disappeared very suddenly, for he feared Murray would pursue. Here again was the measure of Adolph. In spite of Murray’s explanation, he could see nothing except a chance to win by saving a part of the commission. He could not comprehend that he was running any unusual risk or doing anything that another would not do, if the other had the sense to see the chance. In fact, he was fully convinced in his own mind that Murray was merely talking for effect and really desired the whole commission for himself. This made him the more determined to gain this small advantage for himself—partly because his little business world was made up of such devious methods, and partly because it would be an evidence of his own cleverness.