"No, certainly not," exclaimed Helldorf; "and I should be very sorry if you should so misunderstand me; but more is required in order to be a merchant here in America than merely book-keeping and speculating on the Exchange; for this last branch of business we have a special class of men, the money-brokers as they are called, who, I may say, in passing, don't stand in very good odour. But the German is no match for the American in business, because he is too considerate. The Jews get on about the best of any here; they soon adapt themselves to the manners and customs of the country, begin in a small way, and do not let either painstaking or shame discourage them--and become rich. But in America the standard of honesty is different from that of Germany. In your country, for example, a bankrupt who should become rich by his bankruptcy would be stamped with infamy. It is quite different here; I know people who have been bankrupt three times, who possess more than a million of dollars, and a reaccounted among the most respectable men of the city wherein they live. In Little Rock, one of the richest merchants made a declaration of insolvency, and yet, at the same time, was building a couple of large brick houses." "But how was that possible?" "Oh, in that way anything is possible, and the Americans call it 'smart.'" "That's the word which Dr. Normann mentioned to me. But about the merchant?" "The doctor is acquainted with it, no doubt," said Helldorf, with a smile. "Well, the merchant in question had settled all his property upon his wife--no one could take any part of it from him; the creditors came, but had to draw off again without getting anything." "But the houses?" "Oh, his wife was having them built; _he_ had nothing, of course--he was a poor ruined man; however, everybody gave him credit again, and as soon as he had obtained his certificate, he began business afresh with more spirit than ever. I could relate hundreds of such instances of people whom I have known personally." "That certainly does not say much for their honesty, if such a proceeding is reckoned an ordinary mercantile transaction," said Werner; "but, be that as it may, trade certainly is the quickest way to acquire a little property; and, I should think, that if one were honest and upright, buyers must soon find it out, and it would carry weight." "Oh, my dear Werner, that's of little use here; the modest man remains behind, and without puffing and quackery, a poor devil can seldom get along in America, unless, as I have already observed, he turns farmer. Those are my views, but I don't wish to palm them upon you as the views of all the world; I shall even be glad, on your account, if you should not find them confirmed." "But I have no capital to begin with--at least----"