"Well," said he, when I had finished my story, "shipping, and matters connected therewith, are rather out of my line, as you are no doubt aware; but if you can see your way to make the purchase of a ship a paying transaction I should think there ought not to be any very serious difficulty about finding the funds: the money market is said to be tight, just now, it is true; but my experience is that there is always plenty of money to be had when the prospects of a profitable investment are fairly promising. Now, for instance, it is really a most curious coincidence that you should have called upon me just at this time, for it happens that certain mortgages I held have recently been paid off, and I have been casting about for some satisfactory re-investment in which to employ the money. How much do you think it probable you will require?" I made a rapid calculation, and named the sum which I thought would suffice. "Coincidence number two!" he exclaimed. "Singularly enough, that happens to be precisely the amount I now have lying idle. Now, Jack, my lad, I have known you from a boy; and, though it is an axiom with us lawyers never to think well of anything or anybody, I would stake my last penny upon your integrity. So far as your honesty is concerned I would not hesitate to advance you any sum you might require that I could spare, upon the mere nominal security of your note of hand. But there are other risks than that of the borrower's dishonesty to be considered, and they must be guarded against. Take, for example, the possibility of your failing to find remunerative employment for your ship. How is that to be guarded against?" "You would hold a bottomry bond--in other words, a mortgage--upon the ship for the amount of your debt, which would constitute an ample security for its recovery," I replied. "Um--yes; just so," he commented. "Still, a ship is not a house; the cases are by no means parallel. Then, there is the risk of loss, total or partial. The ship might be stranded, and receive so much damage that it would cost more than she was worth to repair her. Or she might become a total wreck. All such possibilities would have to be provided against by insurance, and, as a business man, I should expect to hold the policy. Would you be willing that I should do that?" "Certainly," I replied. "Of course, in the event of your deciding to lend me the money I require, I presume that a proper agreement would be drawn up, specifying the amount, terms, and duration of the loan, the mode of repayment, and so on--an agreement, in short, which would equally protect both our interests; and if that were done there could be no objection whatever to your holding the policy; indeed, I should most probably ask you to do so, apart from any stipulation to that effect, as it would be much safer with you than with me."