Since it was necessary to act at once, and to sell meant the loss of the remnant of his capital, Emil concluded to give himself a chance by making use of five hundred dollars which had just been paid over to him for a client in redemption of a mortgage. He argued that the stock, having fallen in price contrary to expectation, was not likely to decline further at once, and that if he protected his account, he would be able to make inquiries and form a more intelligent opinion by the end of a few days as to what he had best do. Besides, there was lurking in his mind the bitter argument, which he chose to believe sound, that the world owed every man a living, and assuredly owed it to a man like himself. Since the hand of society seemed to be against him, why should he not take advantage of the resources at his disposal and save himself? He was simply borrowing; if he were not able to return the money at once, he would do so later with interest. The consequences of this performance were disastrous. As Emil had predicted, the stock in question remained stationary for three days, but by the end of them he felt no clearer regarding which course to pursue. Estimates as to its value were contradictory; yet since a sale at the market price meant the safety of the five hundred dollars at the cost of his own financial obliteration, he remained hopeful. On the fourth day the stock broke sharply, and again on the day after. His holding was only one hundred shares--a paltry transaction from a capitalistic point of view--yet it was rashness for him. Adversity and his pressing needs had tempted him to disregard his meditated prudence and to venture on thin ice. He perceived himself ruined and a defaulter. The obliquity of his peculation was mitigated in his mind by the conviction that fortune had been signally cruel to him. As for the borrowed money, he would give his note and pay it presently when he was on his feet again. Yet he appreciated that his opportunities for making a living in Benham were at an end, and that if he remained, he might find difficulty in inducing the owner of the five hundred dollars to accept him as a creditor without demur. Clearly the simplest course was to come to terms by post. To shake the dust of Benham from his feet was his dearest wish, and the time had arrived for its fulfilment. There was still one hundred dollars belonging to his client in his hands which he had not used. This he drew to provide himself with travelling expenses, arguing that the sooner he were able to reach New York, the quicker the loan would be repaid, and slipped from the city without a word to anyone. He had decided to cut adrift from all his past associations, and an indispensable portion of his plan was to sever forever his relations with his wife. A week later he wrote this letter to her from New York: Constance: