Every sale showed the value of these securities
to be sinking, until it really seemed that they would come to be as
worthless as the old Continental currency. But neither he nor other
sufferers had any remedy;--stocks were worth only what they would bring;
prices must take care of themselves; and the calm, determined bids of
Tonsor were like the voice of Fate.
In his extremity, Sandford thought of Monroe, and remembering his own
personal responsibility for the sum he had received, he determined to
"hedge." So he sent for Monroe; he showed him the notes, all amply
secured, if any man's name could be said to give security.
"You see," said Sandford, "how careful I have been. Two good names on
every note. They may fail, it is true. So stocks may go for a song,
and universal bankruptcy follow. See, there is a note signed by Flint,
Steel, & Co., and indorsed by Lameduck, another by Kiteflyer and Co.,
indorsed by Burntwick, and this by Stearine & Star, indorsed by Bullion.
Every dollar will yield at least the eight per cent. I promised."
"The names are good, I should think.--as long as anybody is good," said
Monroe. "Still I should feel safer with a mortgage, or even with stocks;
for if these do go down, they will come up again."
"Stocks!" said Sandford, with an air of contempt. "There isn't a bank
that is worth _that_"--snapping his fingers. "They keep on their legs
only by sufferance; if put to the test, they could not redeem their
notes a day.
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