WeRead Powered by ReaderPub
Illustrations of political economy, Volume 6 (of 9) cover

Illustrations of political economy, Volume 6 (of 9)

Chapter 8: Chapter V. GOING NORTHWARDS.
Open in WeRead

About This Book

A collection of didactic narratives dramatizes principles of political economy through episodes among merchants, families, and artisans in a commercial port setting. One thread follows a merchant's death and its effects on kin and business, another traces the workings and risks of bills of exchange and monetary instruments among trading partners, and others contrast industrial and seafaring livelihoods to explore labour, credit, and market relations. Scenes move between domestic arrangements, legal and moral dilemmas, and community responses to economic change, illustrating how abstract economic concepts shape everyday decisions and social obligations.

Chapter V.
GOING NORTHWARDS.

The transit from Amsterdam to Winkel was accomplished too soon for the wishes of some of the party, while others found it very wearisome. These last were not rendered impatient by the annoyances which would have fatigued an English traveller,--the slowness of the trekschuit, the frequent interruptions of the bridges over the canal, and the smoking which went on on board the boat. All these were matters of course to a Dutch voyager. Heins's unexpected attendance was much more wearisome to Gertrude than any anticipated circumstances of the voyage; and her ancient attendant was more annoyed by the manifest rivalship of Francesca Slyk than by any infliction, in the form of smoke or garlic, of the other passengers. Heins, on the other hand, enjoyed and made the most of the protracted opportunity thus afforded him of paying his court to Gertrude, well knowing that, once on shore, his privileges would be at an end. While she sat sewing in the roef, or best cabin, he took his place beside her, and importuned her with conversation, in defiance of Francesca's frequent calls to observe the pleasure boats which floated on the canal, or the laden barges which were being towed down, or the trim gardens of the country houses stretching to the brink of the water. If Gertrude engaged herself in any employment in which he was not concerned, he was far too ready with his warnings of some provoking bridge which they might as well pass on foot, or of the approach of dinner-time, when he had ascertained that they might safely go on shore to refresh themselves on the grass, out of the reach of the scents of tobacco on the one hand, and decaying vegetation on the other. Then came the ostentation of the delicate dinner he had caused to be provided, and of the taste with which he had selected the spot where they were to rest. He was never wearied of pointing out how the grass on the sloping dyke where they sat was greener than anywhere else; and what a pleasant shade the willows made; and how precisely he had chosen the point of view for seeing the slow sail gliding between the tufted banks and gay gardens. He busied himself to learn the name of every village whose houses were clustered on the intersecting dykes; and piqued himself on measuring exactly by his eye the extent of the oblong fields formed by the intersections. He pronounced learnedly on the turf-soils and clay soils which alternated under what, to inexperienced eyes, was only bright verdure; and, when there had been enough of this, glided into a fit of sentiment on the unrivalled beauties of a summer noon in Holland. Gertrude had been silently admiring what he now began to praise,--the prospect where the greenest of meadows formed a relief from the gleams of water on every side,--water in the sluggish canal, water standing in the hollows, water rising in the grass, water hanging in the air in the form of a silvery haze, which dissolved the outlines, and melted into harmony the hues of all objects, from the whirling mills on the banks which seemed to possess a life of their own, to the lazy cattle which lay ruminating under the scanty shade of the willows. From the moment that Heins became romantic, however, Gertrude's contemplation was spoiled; and she returned to her spiced baked eels and glass of liqueur with a new relish.

If Heins could but have been made to tow the boat which held his beloved, she would have been happy to admit his services while dining on shore; but to have him at her elbow in the trekschuit, and at her feet on the grass, was rather too much. As soon as she could with any grace leave the company, she wandered with her attendant to some distance from the feasting party, trusting that Francesca would choose this time for detaining Heins by her side.

Without going out of hearing of the bell of the trekschuit, Gertrude found she could change her scene and company. From the ridge of the bank she saw a bleaching-ground below, and hastened down to exchange a few words with the children who were sitting in a circle to guard the linen, and peeling sallows the while. The ground was unapproachable but by a little bridge over the ditch; and on this bridge was stationed an old woman, with petticoats tucked up to an unusual shortness, a hat like an umbrella, and an evident preparation for the endurance of heat and fatigue.

"You are weary, good mother, since you seem to be resting," said Gertrude. "Truly you would rest better in the shade."

The old lady replied, that she was only waiting for the boat-call. She took her turn to tow, when the trekschuit passed this place. It was warm work in a summer's noon, and she took her pleasure before and after it.

"And what becomes of the horse?" inquired Gertrude's maid. "We changed horse but lately."

"My grandson there rides him forward through the fields to a point where the towing-path grows wide enough for him again," said the old woman; "and the boy lightens my way home, when the boat is on its course again."

"You talk," said Gertrude, "of taking your pleasure. Is it pleasure to lean over this bridge at noon time?"

"It is a pleasure, young mistress, to look abroad and see how Providence has blest our land above every other. I venture to say something to our pastor in return for all that he says to us. I tell him that, though he has lost his country for his religion's sake, he has gained a better, besides his heavenly reward. Our pastor came from France during the persecution."

"And does he like this country better than France?"

No doubt, the old woman supposed. In France, she was credibly informed, more than one cow had died of drought, during the last hot season, when heaven blessed Holland with water enough for the purposes of all Europe, if some of it had not been putrid. In certain parts of France, such a thing as an eel was never seen; and there was a false religion there, which showed that the curse of God was on the country. The very children were quite unlike the Dutch children. They would dance and shout under the chestnut trees, and laugh loud enough to be heard far off, instead of giving their hearts to God, and using their hands in the service of their parents, like the little people who were at work so soberly in yonder bleaching ground.

"You point out to your grand-children," said Gertrude, "the blessings you are yourself so sensible of?"

"The pastor teaches them to give praise for the pure gospel," replied the old woman; "and I bring them out to show them the gifts that follow upon grace. I show them the waters that bear corn to us, and breed fish for us; and the pastures that feed our cows. And I tell them about the sand that the rough sea washes up to strengthen our dykes; and I bid them be thankful that we have lime-kilns near, without which the fever might carry us all off any autumn."

"The fever prevails here then?"

"We have lost two of the children in it; but Providence has been pleased to show us the way out of this danger, through our pastor. You see that mill, with the new thatch upon it. Well; it was our pastor who thought we might have a mill as well as our neighbours; and it carries off the mud, and keeps up a stir in the water, so that we trust God will preserve us from the fever this year."

"Your house stands on high ground," observed Gertrude. "It looks as if it must be healthy and convenient."

"We can see the spires of two great towns from it. I tell the children the sight should make them thankful that they are far from the snares which try the spirit in great cities. It pleases Heaven to prosper my son's traffic at Rotterdam fair, once a year; and he brings home news enough of what he sees there to show us that a country place like this is the true resting place for God's chosen."

"I should like to rest here awhile with you, good mother; and to bring with me a little friend to whom Providence denies repose upon earth." And Gertrude spoke of Christian, adding that she trusted the good mother was so much more pious than herself as to be reconciled to even such a case of suffering as this. The dame requested, with much respect, that if opportunity should offer, she might be honoured with a call on her hospitality in behalf of the child whom the hand of God had touched, and whose heart would, she trusted, be in due time touched by His grace.

Gertrude really hoped that such an opportunity would occur, whenever Christian should return to Amsterdam. Hospitality was at that time as free in Holland as in any country at any period; and the disciples of the reformed religion, especially, communicated as brethren. Gertrude thought that she and Christian could be very happy for a while in the substantial farm-house which stood on the slope, with a well-ordered family of children about them, a pious pastor at hand, and the happy dame to point out blessing in every thing. Christian should hear all about it; and it was much to be wished that the slanderers of Holland could see what her peasantry really were;--that they were remarkable for other things than being the richest in the world.

Gertrude had no time to improve her acquaintance with the family before the bell rang, and it was necessary to hasten back to the boat. While she again settled down to her work in the cabin, the dame stoutly passed the towing-rope over her shoulders, and paced the narrow foot-path for three miles, drawing the boat after her with great apparent ease. After bidding her farewell, Gertrude had not come to a conclusion as to what blessing the dame could contrive to educe from the infliction of Heins's society, when her attention was called to an important feature in the landscape. Rising above the dykes which crossed the country in every direction, was an eminence planted with trees, and prolonged to the furthest visible points north and south. This was certainly the sea dyke, and they were approaching Winkel; and accordingly, they were presently after landed at the summer-house which overlooked the canal from the extremity,--that is,--the highest part of Mrs. Snoek's garden.

What screams of joy issued from this retreat as the boat glided before the window from which Christian was fishing, and well-known faces looked out from the cabin, and one friend after another stepped on shore! The summer-house had windows all round, that no passing object might escape the notice of those who came there to be amused. Christian occupied nearly the whole water-window, as it was called. His brother and sister contended for the dyke or road-window, from whence Luc speedily descended to make acquaintance with the towing-horse. Mrs. Snoek awaited her guests at the door, and Katrina stretched her neck from the back-window which presented no object beyond the familiar cows, and the herd's cottage in the back-ground. With his fishing-rod suspended, and his eyes so intently fixed on Gertrude that he did not even hear the compliments of Francesca, Christian sat patiently waiting his share of the caresses which his active brother and sister were snatching from the common favourite. He was rewarded, as usual, for his patience by his friend's taking a seat where he could keep possession of her hand, and see every turn of her countenance. At the first unobserved moment, she bent over him, whispering an inquiry whether his spirit had been at quiet in the absence of the pastor, and whether he had been strong of heart, as he had promised, for his mother's sake. Christian looked down, as if afraid to answer for himself, and at last said that his pain had been worse than ever, just when Gertrude was not there to nurse him.

"And how did you bear it?"

"Ask mother," replied the boy, with one of his radiant smiles, which yet had little of the brightness of childhood in it. And he went on to tell how his mother had scarcely ever left him, and how she had time now to nurse him, just as she did before his father was ill; and how he had told her his secret about bearing the pain; and how she thought it a very good method, and was glad to understand why he looked in a particular way when the pain seemed to be coming on, and spoke slowly and gently when he had been lying awake at night longer than usual; and how she really thought he might try to be as patient as Jesus Christ, and become more so, in time, than seemed possible at present. Gertrude was very glad to hear all this, and also that the ranunculus, which had been taken all possible care of for her, was now in beautiful blow, and that they were to go down to the decoy together the first day that there should be no mist, when Christian had two or three kinds of waterfowl to show her which had never settled near them before. But all this was hastily dismissed for Master Peter. Master Peter had inquired, more than once, for Christian; but had said nothing about coming to Winkel. Christian must meet him again at Saardam some day.

And now Gertrude and Christian had both need of patience; Gertrude being first half stifled by Roselyn's boisterous love, and then rescued by Heins, at the expense of many tears from the scolded child; and Christian being not less teased by lectures from Slyk, and fondness from Francesca. He did not lose his good-humour, however; and, with the rest of the party, was too happy to wish to leave the summer-house till the sun sank red behind the west-dyke, and the evening fog began to rise.

Chapter VI.
NEWS FROM HOME.

Slyk and Heins were equally anxious to lose no time in viewing the scene of their undertaking; the former, because he disliked any delay in getting possession of the young merchant's money, and the latter, because he was anxious to signalize himself by illustrious success. They set forth the next morning for the dwelling of the peasant who had undertaken to lodge the workmen during the time of their being employed in the neighbourhood. The whole family party accompanied them, except Christian and his inseparable friend Gertrude, who remained behind to enjoy pleasures which would be less fatiguing to the invalid. The decoy was to be visited; and the garden, with its rare flowers ranged in their beds as by the rod of a magical mathematician. Christian pointed out to his companion, as he was being carried in at the gate, the motto which he had chosen for an inscription, "Peaceful is my garden."

"And now, Kaatje, you may go, if you will leave me the silver whistle. You can work in the summer-house, you know; and we will call you when I want to be moved. Do you like this place, Gertrude?"

Gertrude thought it the pleasantest spot in the whole garden. The shade was welcome, and it was a pretty sight to see the herons wading in the stream so near them; and the boat jutted out behind the summer-house so as to make a good object for a painter. Christian hoped they might use the boat while Heins was with them. It was seldom entered at other times, except for the purpose of being kept in readiness for an escape, in case of a flood. Every house had its boat in that neighbourhood; for the sea was very rough at times, and the river had risen four inches higher last winter than had been known for many years, so that it had been determined to raise the dyke before the danger could recur. Meantime every house had its boat.

"You think of that boat sometimes, I dare say," observed Gertrude, "when your cough keeps you awake, and you hear the wind roar and the waters splash. Do you feel afraid at such times?"

"No; I do not think God would let us perish so. He has suffered the storks to build on the summer-house, though we cannot get them to settle on the house. See; we have put up a frame for them to build on, and they will not come; but there are two nests on the summer-house roof."

"What do you suppose from that?" inquired Gertrude, who was far from being exempt from the superstition of the country with respect to the stork, there supposed to be a holy bird.

"I think that if a flood came, we must get to the summer-house as fast as we could, and stay there till the storks flew away; and then we must go down into our boat."

"And what would you do while you were waiting for the waters to subside? If they continued to rise, and nobody came, would you be afraid?"

"Not if M. Aymond was but with us, to pray for us. Or if God would put a rainbow in the cloud, it would be a sign that people had been saved from a much worse flood. Do you know, I call that boat our ark; but there is not room in it for half the creatures we should like to save. Luc's dog might go, and Roselyn's parrot, and perhaps Kaatje's calf might find a corner; but our poor cows must all be drowned. I hope there will never be a flood."

All further speculation was stopped by the arrival of a special messenger from Amsterdam, with letters from the dignitary Vanderput to his sister and his partner. Gertrude, after she had satisfied herself that nothing was the matter, read her despatch without remark, and then directed the messenger to overtake Mr. Snoek, and deliver his letter without delay.

Mr. Snoek, meanwhile, was in raptures at all that he saw and heard. Not having been made aware that the work was even begun, he was amazed to find a lake where he expected to tread the trembling soil of a moist pasture land. How this came to be water when it should have been the well-limed soil which he had described, Slyk went on explaining from the moment they entered the district, till the party arrived at the door of the boor's dwelling. The truth of the matter was that he was himself surprised and struck with the apprehension that some of his devices had failed, that money was wanted to set the lime-kilns at work, and pay the delvers; and that, as Dutch labourers had little idea of working for anything but ready money, they had gone away. They must be recoverable, however; they must be still in the neighbourhood, at some temporary work, and not unwilling to be recalled, when pay should be again forthcoming.

"They may well be willing to come back," observed Jan, the boor. "My wife and I made them as comfortable as so many burgomasters. And their wages were such as fully to make up to them for being brought so far from home. But, Mr. Slyk, unless you employ them soon,--unless you engage them before they are discharged from their present work, you will have to alter your terms."

"No fear!" replied Slyk. "If the knave that should have sent you a remittance a fortnight ago does not make haste, I will make him answerable for spoiling the best work that was ever undertaken in this district."

"There can be no difficulty in getting money to go on with," observed Heins. "It is a most absurd reason for stopping the work."

"Most absurd, indeed," replied Slyk. "Neither you nor I, my dear sir, shall leave room for such an excuse, I am sure. We would both rather turn our pockets inside out. The fellows shall be recalled this very day, if we can muster our resources. You shall see the vein,--you shall be shown,----but first, Jan, let us view your establishment. Where do you lodge our men?"

Jan led the way into the house, which was built and laid out after the fashion of the better sort of peasants' houses of that period. A range of stalls for cattle extended along each side of the long low room of which the dwelling consisted: and a space was boarded off at the upper end of the apartment for the use of the family. Here was the ample hearth on which the turf fire burned; and here the beds, ranged in recesses of the walls, and the cupboards which contained the domestic apparatus of the establishment. In the present instance, the cows had been dismissed to a temporary shelter provided for them at a little distance from the house, and their stalls had been fitted up with beds for the workmen, so that tobacco-smoke had of late issued from the recesses which had been wont to exhale the sweet breath of cows. The clothing which the cows wore in damp weather still hung against the partitions of the stall, denoting their original destination.

"Do you know, papa," said Francesca, who had been talking with Jan's wife, "it was only for brandy that these people struck, after all. They were not in such a hurry for their money but that they could have waited for a remittance; but for spirits they could not wait."

"How should they?" inquired Jan. "Working, as they did, up to their knees in water for seven or eight hours a-day, how should they exist without brandy?"

Every body agreed that spirits were the only safeguard against the perils of ditch water, and that eight hours a day was very hard work indeed. Few labourers could be brought to exceed six. But why, Slyk asked rather angrily, was brandy wanting? There was plenty to be had at Winkel, and Jan might have been obliging enough to purchase a supply, for which he knew very well he should have been presently paid. Jan opened a cupboard door, in order to display the evidence of his having no cash at command just now. Some pictures, handsomely framed and carefully covered with canvass, were laid up there, to be sold at the next Rotterdam fair. Jan's wife piqued herself on her taste in paintings, and her husband had before found it answer well to trust to it for the investment of money which must otherwise lie where it could gather neither profit nor interest. He, and other Dutch peasants, had made money by selling again the judicious purchases they were enabled to make from time to time. Those who dared not venture upon pictures had small speculations in gold chains and other expensive ornaments; and a yet humbler class had their little ventures of books and foreign toys. Every thing sold at the Rotterdam fair; and every Dutchman might be trusted to make his speculation answer.

Jan having proved that his capital did not exist in a form that would immediately exchange for brandy, intimated that he had something to say in private, and to show out of doors to the gentlemen. As they went out, Heins declared his intention of furnishing an abundant supply of spirits out of the stock at Amsterdam, which had been destined for England, but was scarcely likely to be wanted there till the course of exchange had turned. At present, while the exchange was in favour of Holland, the British merchants were, of course, stimulated to export as much as they could, and would receive no produce from Dutch ports, clandestinely or openly, till they had paid their debts by exportation. Slyk made a light mention of this being one convenient method in which Heins's proposed assistance might be advanced; and an immediate supply of brandy, salt butter, and meat was promised.

What Jan had to show was of no little importanceimportance. No one knows better than a Dutchman that water is never idle, even when it appears perfectly stagnant. The pools which had spread over the ground whence the turf had been dug, lay so still that the birds might have used them for a looking-glass in which to dress their plumage; but these waters were, nevertheless, at work, as Jan proved by leading his guests to one spot of the inner dyke, where the soil appeared to be slightly giving way. On this stormy coast, as in other parts of Holland, the sea-dyke was not the only protection provided for the pastures which lay beneath its level. It was all-sufficient for common times and seasons, but in the event of a slight irruption, or of any accident to the mills on the neighbouring canals, it was desirable to have a channel provided to carry off an occasional flood. Such a channel was furnished by erecting a land-dyke within the sea-dyke, leaving the space between to serve as a passage for any overflow of water. The whole range of the sea-dyke near Winkel was in admirable order. No dyke in the country was more thickly planted with the reed which assists the gathering and hardening of the sand thrown up by the waves. Its top was broad enough for two carriages to pass with ease; and its internal slope was of a soil so hard that nothing but the matted grass would grow upon it. The inner dyke was yet hardly consolidated: but the process was hastened by the planting of trees to a great extent. The young wood throve, and gave promise of binding the whole soil in a net-work of roots. The only doubtful point was the one now indicated by Jan. The bog water had spread to the foot of this mound; and just there, the roots of a young willow seemed to be starting. This was all: but, to the eye of a Dutchman, it conveyed much.

Slyk gave positive orders for the immediate erection of a mill to aid the drainage; and that no more turf should be dug till an abundance of lime was prepared to fill up the drained field, and till the bank was ascertained to be in a sound condition. He made Heins observe that there was very little water between the dykes, and no probability of more before all should have been rendered secure.--Jan prepared himself to set off in pursuit of the workmen, authorized to bring them back by the granting of even better terms than before, if such should be demanded.

Heins observed that the masters of labourers in some other countries were more happily circumstanced than he and his friend. In England, men asked work of the masters, who were therefore in a situation to exercise a choice, and to exert some authority; but in Holland, the masters had to seek for labourers, and were consequently at their mercy as often as there happened to be no scarcity of work. Even at present, when, through the quantity of wealth in the country, it was difficult to find employment for capital at home, and there was therefore more labour to be disposed of than in the days of comparative poverty, the labouring classes were able to make their own terms, from the abundance which they possessed. One of the difficulties attending any new undertaking was the management that was necessary to bring the requisitions of the labourer into agreement with the interests of the master.

"Another difficulty," observed Slyk, "is the poor encouragement that is given to liberal undertakings in this country. Our banks will bring on a general distress, if they do not mend their measures. If they are so timid and so ill-humoured as they are now about discounting bills, and lending money to the spirited individuals who exert themselves to benefit their country, everything will go to ruin. It is a part of their regular duty to assist those who would enrich, those who would beautify the face of the land; but there is more trouble than most enterprises will pay in getting a few bills discounted."

Before he had finished his complaint, the messenger from Amsterdam had appeared and delivered Vanderput's letter to Heins. There was something in Heins's frowning brow and falling countenance as he read, which induced Jakob to take up his theme again as soon as he could obtain a hearing. He enlarged once more on the avarice and cowardice of the banks, which refused to aid even such an undertaking as the one before their eyes. Heins would scarcely believe it, but the Leyden bank had within a week refused to discount bills drawn by Cats of Haerlem upon Geysbuk of Rotterdam.

Heins could very easily believe it. The refusal of the bank probably arose from the same cause which would now, he feared, prevent him from making the advances he had destined to the undertaking before him. He found that the turn of the exchange had given such a stimulus to importation that he had less money at command, unfortunately, than he could have had at any other conjuncture.--But he had promised, Slyk reminded him. He had promised brandy, butter, and meat immediately, and money to a considerable amount----

Subject to the consent of his partner, Heins observed; and his partner now wrote him word that their joint capital was already completely invested.

"But you have capital of your own, independent of the partnership," said Slyk; "you, and your mother also. I beg your pardon for seeming to interfere in your concerns, my dear fellow; but I am not one to stand by quietly, and see a young friend, just left to his own guidance, let slip so splendid an opportunity as this of making thirty per cent. of his spare capital. I have a great regard for your mother too, and would fain see that her worldly concerns do not suffer from her being deprived of her husband, my very good friend. If she were here, with three thousand guilders in her right hand, I would merely say, 'here is our ground, there is the sea,' and leave the rest to her own good sense."

Heins looked about him for some time before he made any reply, and then lamented that this soil was not already fit for pasturage, as some German and Danish cattle were on the point of arriving to be fattened; and it would have been one way of aiding the scheme to deposit them on this spot. Jakob explained that there was a farm at a little distance which belonged, he declared, to himself. He would say no more than that any advances made by Heins might be repaid in the feed of these cattle, and thus made independent of whatever risk might be thought to attend the grand scheme.

Long did Heins pace to and fro on the dyke, pondering his resources, and reconsidering the letter of his partner, which was as follows:--

"I am sorry that your absence occurs just at this time, however short it may be: for every day may make so important a difference in the course of exchange as may materially affect our commercial concerns. How long the exchange may remain as it is there is no saying, as there is a rumour of the enforcement of tithe on the cultivation of madder in Great Britain; and this will bring the madder of a Presbyterian country like ours, which pays no tithe, into the market, at an advantage which must tempt those merchants to export largely who are now importing. If, besides this, certain relaxations of monopoly which are talked of should take place, to the advantage of Dutch commerce, our exports to Great Britain will be so abundant as presently to turn the course of exchange. It is our part, then, while we can get bills cheap, to urge our business to the fair limits of our capital, that we may have the fewer debts to pay to England when that competition for bills arises which must certainly follow the present abundance. I did business with Visscher this afternoon, as you were not here to do it for me. He is too busy (making his fortune, I suppose, out of the variations of exchange) to have a word to say to his old friends till after 'Change hours. I fancy that the bills on England which have fallen in value bring a pretty profit into the broker's pocket when transmitted to Paris, where the exchange is greatly in favour of England. Visscher must be making much more by this state of things than he lost a while ago by the variation which took place in consequence of the depreciation of money in Paris. A fine lot of bills in his hands, which would have borne a premium over night, were gladly disposed of at a discount the next day. Visscher has never forgiven the over-issue of paper which caused this; but he is making up for it now. His charge per cent. on these transactions is no trifling gain in these busy days. When the exchange is once more at par, he will spare us a day at Saardam to talk over a little speculation in which it seems to me that we may share with advantage.

"It is rumoured on 'Change to-day that a certain provincial bank has taken up a suspicion of the means by which a present neighbour of yours is floating a scheme which he boasts of as promising great things. It is said that a confederation of needy men have tried the now unusual trick of drawing on one another in a circle, and thus raising money to carry on their scheme, which they may or may not be eventually able to pay. The bank in question has been gradually getting out of the scrape for some time past, not forcing the parties to a bankruptcy, but making more and more difficulty about discounting their bills. The other banks which have been favoured with the custom of the parties are taking the hint, it is said, and looking close into the character of the transaction. If so, the truth of the matter will soon appear. Meanwhile, should any speculator fall in your way, beware of his representations; particularly if he talks of the distress of the country, and attributes it to the timidity of the banks. The country is prosperous, and the banks know what they are about full as well as he. When I have said 'beware,' I have said that which makes me think it worth while to send a special messenger with my letter. Besides this, I have only to say that I shall be glad to see you at home; and that if your mother has any fine pasturage untenanted, our Danish cattle may as well be landed in her neighbourhood, and fattened on her meadows as on those of a stranger. Arrange this as you please. * * *"

In the days when extensive alterations in the currency of trading countries were common, commerce was much indebted to the intervention of such men as Visscher. The bill-brokers held the power of equalizing the exchange, or of preventing its variations from exceeding a certain limit. The variations of the real exchange can, it is true, never exceed the limit fixed by the cost of transmitting metals; for, as soon as the premium which a merchant has to pay on the bill he wishes to purchase is higher than the expense of sending gold and silver, he, and others circumstanced like himself, will pay debts in money, the competition for bills will be lessened, and their price will fall: but the tendency which the exchange has to correct itself is much assisted by the operations of the bill-brokers, who, as they deal in the bills of many countries, can transport this kind of currency from places where it is superabundant to places where it is scarce. Like all other traders, they seek to buy where their article is cheapest, and to sell where it is dearest; and this, of course, lessens the cheapness and the dearness in different places. At the present time, the bills on England were cheap at Amsterdam, and dear in Leghorn; and Visscher, and other bill-brokers, by buying up bills on England, and transmitting them to Leghorn, assisted in equalizing the demands of Holland and England, and also of Leghorn and England, on each other, and thus aided in restoring the exchange to par.

But when the currency of any country is altered, no operations of the bill-brokers, or of any one else, can prevent the exchange from appearing to sustain a great variation, though those who understand the circumstances, and are not apt to be alarmed by the mere sound of words, know that, in such a case, if the exchange be really at par, it cannot be nominally so, and do not therefore trouble themselves about the apparent difference. This nominal variation does not affect trade; because the decrease in the price of goods to be exported answers to the discount which the exporting merchant sustains on his foreign bill: that is, if an English merchant draws a bill on Amsterdam for 1000 guilders in return for 90l. worth of goods, the discount at which the Englishman sells his bill exactly answers the saving he has made from the price of the goods exported being lowered through the depreciation of the English currency: while the premium which the bill would bear in Paris answers to the apparent surplus of the 100 guilders. The holders of bills drawn before the alterations in the currency took place are affected by such changes; and such liabilities to profit and loss are among the evils attendant upon fluctuations in currency; but the amount of exportation and importation, and therefore the real exchange, are in no wise affected by alterations in the representative of their value.

If the course of the exchange is watched with anxiety, it should be with regard to the nominal and not the real variation. As a test of the state of the currency of the country its deviations are important, and cannot be too narrowly observed by those in whom the power resides of enlarging and contracting the currency. But the real variation might be safely left to itself, even if there were no intervention of bill-brokers by which equalization is secured. The variation can never pass the amount by which the cost of transmitting payments in metal exceeds that of making payment in bills. This cost can never be great while there is a set of persons, like bill-brokers, to buy bills where they are cheapest, and sell them where they are dearest; and thus, by arbitrating the exchanges of different countries, equalize the whole. As such equalization aids the security of property, commerce is largely indebted to the intervention of this class of dealers.

If any means could be found by which the rise and fall of money could take place at once and equally all over the trading world, there would be an end to nominal variations of exchange, and commerce would be divested of one of its mysteries: but this can never be while production is more abundant in one place than another; and while the cost of the carriage of commodities increases with distance. Mrs. Snoek found it cheaper living at Winkel than at Amsterdam: that is, the great articles of consumption were produced at hand, and had no cost of carriage to bear; and the value of the precious metals was therefore higher at Winkel than in Amsterdam, so much higher as to induce the Amsterdam exporter who made purchases of her butter and cheese to pay her in that commodity which was cheap to him while it was dear to her,--money. In return for the produce of her farm, which was shipped from her neighbourhood, there was a flow of money from Amsterdam to Winkel; a flow which would continue till money, becoming more plentiful at Winkel, fell in value so as to make it better worth the while of both parties that Mrs. Snoek should be paid in commodities. If the respective commodities should balance each other in value, so as to show that there was the same proportion of money in both places, no money would be transmitted; but if money at length abounded at Winkel more than at Amsterdam, it would become worth Mrs. Snoek's while, in her turn, to buy the merchant's commodities with that which was cheap to her while it was dear to him. Such inequalities must exist in different parts of the same country, and, much more, in different countries; and, while they do exist, the coins of countries will change their relative value, and there will be nominal variations of the exchange, wholly independent of the total amount of sales between different countries.

At present, as in all former times, money was dearer at Winkel than at Amsterdam; Mrs. Snoek delivered the produce of her farm to be shipped at the dyke near her own abode, and was paid in money from Amsterdam. As this suited her views of prudence, she designed to remain, with her family, where she was, while Winkel continued to be a cheap place of residence. Slyk was happy to hear this, both as it afforded a prospect of many opportunities of confirming his hold on Heins's speculative enthusiasm and his purse; and because it was likely to bring more of Messrs. Vanderput and Snoek's herds of lean foreign cattle to fatten on the pastures round Winkel. Mrs. Snoek had but little pasturage to let while she kept up a fine dairy of her own; and Jakob's drained fields would be tenanted as fast as they were ready to bear the weight of the herds that hungered for the rich verdure which springs from such a soil as he could boast of. This matter was settled on the road homewards; Heins seeing nothing in such an arrangement inconsistent with the caution recommended by his partner; and Mrs. Snoek thinking it well that her son should obtain something from Jakob in exchange for the advances made or to be made. Not that her opinion was asked by Heins. Being a man of business, he cared little for the opinion of any woman; but, nevertheless, he had no objection to her approbation.

Orders were left with Jan to bring back the work-people without delay; and Gertrude was sorry to hear, before Heins's departure in the afternoon, that he hoped to come again shortly to visit his family, and his very good friends the Slyks. She did not choose to acknowledge the look which conveyed that they would not be the only causes of his return. She had the hope, however, that his Danish cattle were included with herself in his unexpressed regards.

Chapter VII.
A NIGHT'S PROBATION.

"Why must Gertrude go so soon?" asked Christian of his mother, one fine evening, when the little family were seated at their homely supper. "I am sure when she came, she did not mean to go away so soon. Nobody wishes her to go."

"I wish her to stay," replied Mrs. Snoek; “and“and Gertrude knows that I do; so that I think she would stay if she could. But you can ask her."

Gertrude must go the next morning, though she was as fond of the country, and as sorry to leave her friends as Christian could desire. Her servant had orders to prepare for the little voyage, and----

"I will stop her," cried both the younger children, each trying to outstrip the other in getting down from their high stools and flying to the door. Their mother called them back, with a rebuke for leaving their seats before grace was said; and even Christian thought that Gertrude should be allowed to do as she pleased.

"But," he continued, "the pastor comes with Heins to-morrow or the next day; and you could go home with them, instead of having only your old woman to talk to in the trekschuit."

"The pastor will talk to you instead of to me," replied Gertrude, with a smile; "and that will be better for you than parting with three friends at one time."

"But you have never seen the rush-planting here," exclaimed Luc. "We all came too late for the spring planting; and now, you are going away before the autumn one. I do not know whether they will let me plant any this year; but last year, they would not allow any children to go nearer than the top of the dyke. Just as if we should pull any up!"

The imputation of pulling up reeds from the dykes was repelled as indignantly by a Dutchman, woman, or child, in those days, as a charge of sheep-stealing would now be in this country. Such an act was death, according to the old Dutch law, and the entire nation was educated to regard it with disgust and horror.

Christian told how he was laid on the edge of the dyke, and saw gangs of men and women at work on the slope, planting the reeds with which the banks were bristled, in order that the sand which was washed up by the sea should be retained till it hardened into an outer coating of the mound. If Gertrude would stay, perhaps Heins would take the whole party out in a boat, to see from the bay the people at work all along the dyke, while the sea washed their very feet.--Mrs. Snoek thought it a still better reason for Gertrude's remaining that Amsterdam was now in its least healthy state. She would find the canals very offensive, after the air of the open sea, to which she had been accustomed of late. In another month they would be cleared out, and then all would be safe till the next season's hot weather. Katrina, who was waiting,--that is, sitting at work in the window till she should be wanted,--put in an observation that the waters round Winkel had never been fresher than now. The late high seas had filled the channel between the inner and the sea-dyke, and all the mills had been in full activity for some days. The apothecary was of opinion that there would be less ague at Winkel this autumn than for many seasons past. So saying, Katrina looked out, to see how all the mills within view appeared to be alive, their sails swinging, and their machinery, open towards the water, whirling and twisting, as if by some self-moving power.

She did not draw in her head immediately; and Luc would have hastened to see what it was that attracted her attention, but that grace had not yet been said.

"Kaatje, what is the matter?" asked her mistress, as she saw the work drop from the maid's hands.

"Christ, have pity! the dyke has burst!" exclaimed Katrina. "The flood comes pouring----Mercy! how it sweeps in by the peat-field!"

"The peat-field! Then we are lost," cried Gertrude. "Where----"

"Mother!" said Christian, "say grace, and let us go."

Not one word of the long grace was omitted or hurried, or pronounced in a less steady voice than usual. When it was ended, Mrs. Snoek issued her orders.

"To the upper rooms, my children! Christian, we will carry you to the top of the house. Katrina, ring the great bell. It may be heard as far as the village. But first, close all the lower shutters. They may be some little defence. And, Gertrude, we must put out a flag from the roof."

"The summer-house!" suggested Christian. "The boat is there."

"True, true. We will get to the summer-house, if there is still time."

There was time, as the summer-house stood on high ground, and the water had not yet reached the lowest part of the garden. The servants and children ran as for their lives. Mrs. Snoek and Gertrude, who carried Christian's little couch between them, walked more slowly, and stopped at a seat half-way up the gravel walk. There they looked around, and perceived that their abode and its precincts formed a little island in the midst of a flood, which was rapidly advancing on every side, as if to close them in. Tossing waves were chasing each other over the green fields, swallowing up all that came in their way; while the terrified cattle, for the most part, ran towards the farm-buildings on the little dyke below, as if to find safety there; and a few endeavoured to keep their footing in the midst of the tide, lashing with their tails every swell that came to buffet them. The trim garden, with its gay beds, shone in the evening light with as quiet an air as if its low hedge formed a sufficient security from the deluge, while a sunny haze hung like a canopy over its recesses, and made the tranquillity of the upper air contrast strangely with the watery surface, which seemed troubled by storm. Far off, the village rose upon the loftier dyke which bordered the canal, its grey willows looking as firmly rooted, its houses as spruce as when no one dreamed of its being within the reach of accident. Thither Gertrude's gaze was turned intently.

"Thank God! the whole country round is not under water," she cried. "It is only the section between the north canal and Winkel. Thank God! there are but few in jeopardy."

Christian could perceive that people were gathering on the dyke of the north canal; and both they and the Winkel people seemed wholly occupied in watching the section which lay between. Not a face appeared to be turned the other way.

"A horse!" cried Christian. "Do not you see a horse on the ridge? The magistrate is out, and the people will begin to do something for us."

That the magistrate was on horseback to take the command,--a practice which is reserved for very rare occasions,--was a favourable sign; but Mrs. Snoek silently pointed to one which dashed Christian's confidence. The dyke which had given way,--the same that had been injured by Slyk's bog-water,--appeared now to be crumbling down, ell by ell, with a rapidity which defied all attempts at repair. Its layers of soil oozed away in mud; its wattles were floating on the billows; and the blocks of stiff clay which had lain square, one upon another, showed a rounded surface till they disappeared from their positions. The opening enlarged every moment, and it seemed as if the tide in the outer channel rose in proportion as it found a vent. The first dribblings over the edge of the dyke appeared at wider and wider distances, while the gushing in the centre grew more copious as the waters below rose to meet it.

"Do but hear!" said Christian, in a low voice. "How it splashes and roars!"

His mother perceived that spray was beginning to fly in at the gate at the bottom of the garden, and some of the poor cattle were already afloat, supported for awhile by the clothing which would soon help to sink them. She made a sign to Gertrude to resume her share of their burden, and they proceeded towards the summer-house.--When the servants had been sent back for the provisions they ought to have brought with them, and had returned with all they could fetch away, (the lower apartments being already flooded;) their mistress gave orders for the summer-house door to be closed. Christian begged to be first carried out for a moment. He wished to look up to the roof. A stork was perched there, flapping its wings; and Christian was satisfied. The next thing to be done was to bring the boat immediately under the window, and to fasten it securely to the summer-house, that it might not be carried away out of reach.

"I wish the pastor was here," said Christian, who, with the rest of the party, had little apprehension of personal danger, as long as the evening was serene, and the extent of the devastation limited. "I wish the pastor was here now, to tell us what we ought to do."

"We need no voice of man," replied Gertrude. "Hark, how deep calleth unto deep!"

The boy looked entranced as he fixed his eyes alternately on the line of blue sea, where ships were gliding in the light breeze, and on the muddy surge around, which already bore many wrecks, and assumed a more threatening appearance every moment. His mother's voice in prayer was the first thing that roused him.--Before it ceased, the garden had a multitude of streams running through it, and only a few red and yellow blossoms reared their heads where all had lately been so gay. Next came the first dash against the walls of the building, and spray thrown in at the window, whence Roselyn withdrew in mute terror. Before closing the shutter, her mother gave an anxious look towards the village and the farm-buildings.

"The herd and his wife have a boat, and each a stout arm," said she, "and we may consider them safe. Kaatje, you can row; and both Gertrude and I can hold an oar. They do not seem to be doing anything for us from the village."

Katrina, alarmed, like the rest of the party, by her mistress's words and manner, declared that she had never dipped an oar in troubled waters. It was little she could do on a canal. The sun was gone down too, and what were they to attempt in the dark? Surely her mistress would remain where they were till assistance came, even if that should not be till morning.--Certainly, if possible, was her mistress's reply; from which Gertrude inferred that Mrs. Snoek thought the summer-house unsafe. It was raised on piles, like the best part of Amsterdam, and more strongly founded than the dwelling-house; but it even now shook perceptibly; and it seemed too probable that it might fall very soon, if the rush of waters continued.

Twilight faded away, and darkness succeeded, and no hail from a distance was yet heard:--no sound but that of waters, to which the party remained silently listening; Christian, with his eyes fixed on the scarcely discernible boat which danced below, and Gertrude watching for the moon as anxiously as if their safety depended on a gleam of light. It came, at length, quivering on the surface below, and lighting up the tree tops which appeared here and there like little islands where the inner dyke had been.

The flood was found to have risen to the level of the floor; and the servants, almost glad to have something to do, began to lower the provisions into the boat. Presently a loud crack was heard; the mirror, which reflected the broken moonbeams, was perceived to hang awry; and, more ominous still, the stork first fluttered and then sped away.

"Do you see, mother?" said Christian, as he pointed upwards. "We must go."

"You are not afraid, my dear boy? Katrina and I will go first, and Gertrude will let you down while we keep the boat steady. You are not afraid, Christian?"

"I wish Luc was not so frightened," replied the boy, who, in truth, seemed more animated than alarmed. "Luc, the Spirit is on the face of these waters too."

Roselyn, tired out, had fallen asleep on her mother's bosom. It was a rough waking, amidst spray and the chill night air; and she made her cries heard further than perhaps any signal shout that her companions could have raised. Nothing that had yet happened had distressed the party so much as this child's screams, renewed with every pitch of the boat, which, though strong, and so large as to consist of two cabins, was now tossed like the lightest shallop. Christian never could bear Roselyn's lamentations, and they now had their usual effect upon him, of making him cough dreadfully, and upsetting his cheerfulness for the time. When he could find voice, he began to complain of several things which no one could remedy; and struggled the more to express himself, the more violently his cough returned.

"You must be silent," Gertrude said, gently. "We cannot help one another. God only can help us now; and we must await his will."

"Thank you for putting me in mind," cheerfully replied the boy. "O, Gertrude, I wonder what that will is! Do you think we shall sink deep, deep in these cold waters? I think the apostle Peter was very daring to go down out of the boat. There is no Christ now to come over these rough waves, and bid us not be afraid. O, if there were----"

"We can try not to be afraid, as if he were really here," said Gertrude. "Let us be still, lest we should be tempted to complain."

Christian did not speak again, and tried to suppress his cruel cough. His mother was aware of the effort, and would have had him carried down, saying that the poor boy was doomed, whether they ever reached land or not. He would never get over the exposure of this night. Christian made no opposition, but Gertrude suggested that the boat itself was in danger from the wrecks which it encountered; and that the only chance of safety, in case of any great shock, was in being on the exposed part. So Christian was left to feed his spirit as he would with the impressions which came upon his awakened senses.

Katrina's oar had been carried away at the first attempt to use it. The other could be employed only in pushing off whatever was brought by the waves to threaten the boat. One object after another was recognized by the party;--a plank, which from its colour was known to belong to the farm buildings; and a chest that had stood in the dwelling-house, which must therefore be down. Whatever security might await her family, Mrs. Snoek saw that the fruits of long toil and much care were already swept away.

A fearful crisis came at last, while the party were watching a dark object at no great distance, which looked like a boat. It might be many things instead of a boat; but it was more like one than any object they had seen this night. While she was looking at it, something came fluttering against Gertrude's face, which made her start. It was the flag which had waved from the gilt ball of the summerhouse. All turned, and dimly saw the whole fabric fall in sideways, and disappear amidst a cloud of dust, which was blown full in their faces. No fixture could be found near, by which the single oar could be made of any avail to keep the boat out of the eddy. That there were fixed points was soon made known, however, by the repeated shocks which the boat underwent; shocks which threatened to drive in its bottom.

"Now God have mercy upon us!" cried the mother. "If we go down, it will be now."

A cry arose from the children and the servants. From Christian there was no cry, but a groan, which, though low, reached his mother's ear and heart. She saw that his hands were grasping the ribs of the boat.

"My boy, your pain is upon you."

"Never mind me," said the boy, in a voice patient through its agony. "Let my Father take me. Save Luc. Save Roselyn."

The boat had been staved by the last shock, and was now rapidly sinking. Help was, however, at hand. The dark object was really a boat. The cry had directed it to the right spot; it arrived in time to pick up every one of the party, not before they were wet, but before they were actually afloat. Christian was very nearly going down with the wreck, so firmly were his hands clenched to its sides: but his mother exerted her fast failing strength to rescue him, and afterwards to hold him on her knees during the fearful struggle with the enemy from which he would thankfully have been released by drowning.

The villagers who manned the rescuing boat respected the misery of the mother, whom they believed to be watching over her dying child. They spoke only to say that the passage to the village would be long and perilous, and that the earliest assistance would be procured by landing on the nearest point of the sea dyke, where succours could be brought, if there should not happen to be a house at hand.

Before the moon had gone down upon the watery waste, the party were received into the house of a hospitable fisherman, who, with his wife, did all that could be done for their safety and comfort till they could be removed to the abode of an acquaintance in Winkel; or, as Gertrude proposed, to her brother's country house at Saardam. To make the exertion of this removal was, she believed, the best thing for Mrs. Snoek's spirits and for Christian's health, which might possibly be revived by the care which would be bestowed on him by those whom he most loved, in a familiar scene, far distant from the desolation which must meet his eye every time he looked abroad, if he remained at Winkel.

His mother consented with the less difficulty that there was every probability of a fever prevailing in the district which had been laid waste. She had suffered too much from the flood, to think of braving the pestilence which must ensue. When her farm servant and his wife came to condole and relate their share of the perils of the preceding night, they received her directions about saving the wreck of the property, and doing what might be practicable towards restoring the estate.

These people were full of indignation at having been left, with their mistress's family, to try their chance of escape from drowning, while those who deserved such a fate much more had taken good care of their own security. Jan and his household had chanced to sleep on board their boats for two or three nights past, after bustling about with extraordinary vigour during the day. Slyk and his daughter had also, most opportunely, been induced to pass a few days with an acquaintance whose abode was at some distance from the scene of disaster. They came to sympathize with the Snoeks; old Jakob glorifying Providence for having interfered in so marvellous a manner to preserve himself and Fransje; and Fransje full of anxiety to know whether Heins was likely to come to assist in the great work of reclaiming the section which now lay waste.

Heins came as appointed, attended by the pastor:--came to see his Danish cattle floating lifeless in the muddy lake; to try doubtfully to fix the point where his mother's pretty residence had stood; to ponder whether the extent of the damage and of his liabilities could be concealed from his partner; and to wonder how much Gertrude had been told, and what she would think of the issue of this his first grand scheme of enterprise.

Mrs. Snoek greeted the pastor with a hope that she need not look on this calamity as a judgment on her solicitude about worldly interests. The pastor had said much to her, and said it often, about sitting loose from the things of this world; and she trusted she had taken it to heart. Unless she was much mistaken, she had only endeavoured to do what, as a mother, and the widow of an honourable man, it behoved her to improve her children's fortunes, and justify their father's ambition for them. The pastor decided that she would best prove the purity of her views by her cheerful acquiescence in her present losses.

A Dutch lady of a later age would have found it easy to acquiesce in such losses for the sake of the amount of wealth which remained: but in the times of the high prosperity of the Dutch, desire grew with acquisition, and it was not enough to be rich, if it was possible to be richer, or if others were richer, or if the individual had been so at a preceding time. Though she and her children had more wealth than they could consume, the widow found it required all her resignation to bear patiently the loss of what she had no occasion for.

"You always told me," said Christian to the pastor, "to take care not to love any people or things too much, because I should most likely have to leave them all very soon. But you see they have left me.--O, I do not mean my mother, and Gertrude, and Luc and Roselyn; but I have lost my pretty calf; and my tame heron has flown away; and my tulips,----that beautiful late-blower! There was not such a Bybloemen in all the district as the best of mine. When I bade it farewell for this year, and looked for the last time into its cup, with its white bottom, so beautifully broken with cherry, I did not think it would be rotting under the water so soon. I never saw such a cup as that flower had. I shall never see such another."

The pastor shook his head. Christian, taking this for sympathy in his grief, went on,

"And my calf had got to know me, and to let me do what I liked with him. He stood quite still to let me help to put on his jacket yesterday when the evening chill was coming on. I am glad I did not see him die, if he splashed in the water like one poor cow that I saw. I shall never love another calf. O, now I know why you shake your head so. You think that I should soon have left them, if they had not left me. Perhaps I may never get better than I am to-day; and to-day I cannot sit up at all. But, tell me one thing I want to know. Do you think animals live again? It seems very hard that my calf should die so soon, if it is not to live any more: and, if I am to die soon too----"

"You would like to meet whatever you have loved," said the pastor, finishing his sentence for him. "I think God will give you beings to love wherever you are, Christian; because I think you cannot live without loving; and I am very sure that, wherever you are, there will be some to love you."

Christian smiled, and said that people loved him now out of kindness, because they were sorry for his pain, and that he could not do what other children did: and he loved them because they were so good as not to mind the trouble he was always giving them. He was sure they would not forget him when he had ceased to be a trouble to any body; and perhaps he could do something for them when there should be an end of all pain, and when he might perhaps be as strong as the angel that stood between heaven and earth, and cried out so that the thunders answered him. This reminded Christian to tell how he now knew what the voices were like that came from under God's throne. Last night, he had learned what was the sound of many waters. Just when his pain came on, he thought these voices were calling for him. He seemed now disappointed that it had not been so. The pastor told him that it should be left to God to call him away in whispers or in thunders. His only care should be to hold himself ready to depart.

Chapter VIII.
NEWS AT HOME.

Heins consented, at the earnest request of his friend Jakob, to remain at Winkel for a few days, to superintend the necessary operations there, instead of returning southwards with his family. Jakob himself set out in search of labourers, and of wherewithal to pay them. His absence was considered necessary, as the suspicion had got abroad that he was somehow the cause of the mischief that had happened. Justice moved slow in Holland at that time; which did not usually signify, as Dutchmen also moved slow; but whether Jakob had become infused with liveliness by his intercourse with the French, or whether he had learned celerity by his enterprises at sea, he acted little like a Dutchman on the present occasion. While the magistrate was yet suffering from the fatigue of having been on horseback, and his advisers were weighing the amount of suspicion against Slyk, Slyk was gone--to return presently, of course; he would certainly return immediately, because he said so, and because his friend Heins said so, and because his daughter remained with her servant in full repose.

Heins believed this, and wrought patiently for a few days, being carefully tended in the intervals of his labours by Francesca, who lavished all her attentions upon him: for her father's sake, as she declared. He was so grieved that Heins should have been involved in any disaster through his means, that the least that could be done to console him was to make Heins as comfortable as possible. Jakob did not, however, return; and when he was fairly on the high seas, Jan had the conscience to let Heins know that the old rogue had set sail from the bay on the night of his departure, and was now on his way to collect some foreign debts, with the proceeds of which he would re-appear when the storm which was ready to burst upon him at home should have blown over. In much wrath, Heins took his passage home without a moment's delay, being accompanied by Francesca and her duenna; no place being now, as Heins admitted, so proper for her as her father's residence at Amsterdam.

On their arrival, her apparent surprise was as great as Heins's real consternation at finding Slyk's house shut up, the furniture gone, and no provision made for his daughter's residence. Francesca was not slow in finding a reason for this, and in conveying her opinion to Heins. Her father had concluded that, as Mr. Snoek's wife, she would not want any residence but his; and it would have been a great piece of extravagance to leave a handsome house and furniture to the care of servants, while the master was taking a foreign journey. Heins could not agree in this interpretation; but it was impossible to leave the lady and her duenna to take care of themselves in the midst of Amsterdam. He took them to the house of his partner, in order to commend them to Gertrude's care. Gertrude was at Saardam; but her brother offered to send for her; which proposal seemed very agreeable to Visscher, who was smoking his pipe with Vanderput at the time of the entrance of the somewhat forlorn party from Winkel.

Heins was not slow in assenting, desiring, if he could be spared from business, to be the messenger to Saardam the very next morning. In his own mind, he thought it but fair that, in return for his enforced civility to a lady whom he did not care for, he should be favoured with the charge of her whom he was most anxious to please. Visscher, however, resented the idea of any one assuming that which he called his office; and Vanderput supported him, by intimating to his partner that his future brother-in-law was the proper person to fetch his sister home.

Francesca took upon herself to say how fully Mr. Snoek approved, as she also did, of the proposed connexion. It was but the day before that they had been agreeing on the absurdity of the prevalent opinion that M. Aymond would carry off the prize, just because Gertrude had a particularly religious turn. Mr. Snoek had eagerly assented to her opinion that any one who understood Gertrude might long have seen that she was thinking of a very different person from the pastor.

Heins was stung with rage and mortification on hearing this. If his attachment to Gertrude had been real, and worthy of her, any disappointment which he might now have testified would have been regarded with respect. As it was, the best thing he could do was to seize a pipe and surround himself with as dense a smoke as he could raise; a smoke which drove even Francesca from the apartment.

The sense of this mortification was somewhat blunted by the occurrence of others. Visscher began a story of which Heins could not at first perceive the drift, about his return, once upon a time, from a winter expedition to Rotterdam. He had skaited from Leyden to Rotterdam for the purpose of skaiting back again; and when he returned, he found that the world had not stood still during his absence; but that tidings of loss and gain, and of many kinds of change awaited him.

"Just so," he went on, "our friend Heins has been afloat himself, and setting the country afloat, and he comes back, taking for granted that all is as he left it."

"And is it not?" asked Heins. "What has happened?"

"Only such a variation in the exchange with England as will frighten you, if you are no wiser than our Bank Directors. You should see their emissaries peering about on 'change----"

Vanderput put a stop to this mode of exemplification of the state of commerce. He would allow no disrespectful mention in his presence of the body of which he was a member. It was the business of the reigning burgomasters to ascertain daily the course of exchange: but they could see an inch before their noses, as well as any bill broker on 'change, and left it to women and the superannuated to tremble at the sentence, that the exchange had turned against Holland.

"What becomes of our profits now?" said Heins. "Must we let them be swallowed up by the premium which I suppose bills on England now bear in the market?"

"Only your extraordinary profits. You are not going to be rich so soon as you dreamed you should be: but neither are you going to be impoverished."

"By the variation in the exchange," added Vanderput, gravely. "If Mr. Snoek is to be impoverished, it will be by other accidents."

Before Heins had time to ask the meaning of this, Mr. Visscher went on.

"You should see the bustle of the exporters on our quays. There are Toll and Co., who so lately stood enviously watching the briskness of your doings, you remember, Mr. Snoek; their time is now come. You and your brethren imported at such a rate that you made bills on England scarce in the market. Toll and Co., of course, got such a premium on those which they held, as to be able to ship off many more kinds of goods than they could have ventured upon while they had to part with their bills at a discount. They have been lading ship after ship; and you may now have time to see them clear out; for I conclude you will not go on to import as you have done of late."