With this I parted from the banker, whose pleasing cynicism always amused me, the more so since I recognized in him the essence of sterling, honorable views. Later interviews with other members of the financial world showed me that my first informant conveyed the generally accepted opinion. Isolated Germany will, for political reasons, and as a favor to the Russian régime, support Russian credit; the great German banks will not renounce the splendid loan-issuing business; and the German investor will permit the imposition upon him of the Russian bonds. "Sheep must be shorn," coolly said one of the brokers to me, when I expressed a doubt that the German imperial government would pay for its political business with the hard-earned pennies of its investors. Your Bismarck did not hesitate for a moment to throw Russian values into the street, and to destroy thereby milliards of German property, when it suited his political convenience. Your present government will not be at all embarrassed in sacrificing again milliards of German property to place us under obligation. And, finally, no one is compelled to it. Whoever is not able to figure sufficiently to see how Wishnegradski prepared the balances to deceive the eye had better keep his money in his stocking and not buy securities. If he does buy them, let him bleed. Another explained, however: "The Germans will buy our bonds. When no other bait is attractive there is still one left to us. When the landowner sells his crops, and is thinking of investing his proceeds, the banker will say to him, 'How about a little of the Russian securities?' 'But those are supposed to be insecure,' answers the good fellow. 'The idea! This is only a Jewish trick. Probably on account of Kishinef.' And the good fellow will hand over his shekels, for he cannot be fooled about Kishinef." XIV A FUNERAL "You are here at an opportune moment," said one of my St. Petersburg friends, who had rendered me important services in my studies. "Mikhailovski died suddenly, and will be buried to-morrow." "Mikhailovski?" I was almost ashamed to admit that I was entirely ignorant of the services of this man, and did not understand what interest his funeral could have for me. My friend had pronounced the name as if no tolerably well-educated person in all the wide world could have the least doubt as to its significance. I had to acknowledge again how little we, in the West, know of Russian life. I am not of the people who have read least about Russia, but Mikhailovski's name was as unfamiliar to me as that of Julius Rodenberg to a Chinaman.