The Financier tod-1

by Theodore Dreiser

  In the meanwhile, with Butler’s death, the control of the political situation had shifted considerably. A certain Tom Collins, formerly one of Butler’s henchmen, but latterly a power in the First, Second, Third, and Fourth Wards, where he had numerous saloons and control of other forms of vice, appeared as a claimant for political recognition. Mollenhauer and Simpson had to consult him, as he could make very uncertain the disposition of some hundred and fifteen thousand votes, a large number of which were fraudulent, but which fact did not modify their deadly character on occasion. Butler’s sons disappeared as possible political factors, and were compelled to confine themselves to the street-railway and contracting business. The pardon of Cowperwood and Stener, which Butler would have opposed, because by keeping Stener in he kept Cowperwood in, became a much easier matter. The scandal of the treasury defalcation was gradually dying down; the newspapers had ceased to refer to it in any way. Through Steger and Wingate, a large petition signed by all important financiers and brokers had been sent to the Governor pointing out that Cowperwood’s trial and conviction had been most unfair, and asking that he be pardoned. There was no need of any such effort, so far as Stener was concerned; whenever the time seemed ripe the politicians were quite ready to say to the Governor that he ought to let him go. It was only because Butler had opposed Cowperwood’s release that they had hesitated. It was really not possible to let out the one and ignore the other; and this petition, coupled with Butler’s death, cleared the way very nicely.

  Nevertheless, nothing was done until the March following Butler’s death, when both Stener and Cowperwood had been incarcerated thirteen months—a length of time which seemed quite sufficient to appease the anger of the public at large. In this period Stener had undergone a considerable change physically and mentally. In spite of the fact that a number of the minor aldermen, who had profited in various ways by his largess, called to see him occasionally, and that he had been given, as it were, almost the liberty of the place, and that his family had not been allowed to suffer, nevertheless he realized that his political and social days were over. Somebody might now occasionally send him a basket of fruit and assure him that he would not be compelled to suffer much longer; but when he did get out, he knew that he had nothing to depend on save his experience as an insurance agent and real-estate dealer. That had been precarious enough in the days when he was trying to get some small political foothold. How would it be when he was known only as the man who had looted the treasury of five hundred thousand dollars and been sent to the penitentiary for five years? Who would lend him the money wherewith to get a little start, even so much as four or five thousand dollars? The people who were calling to pay their respects now and then, and to assure him that he had been badly treated? Never. All of them could honestly claim that they had not so much to spare. If he had good security to offer—yes; but if he had good security he would not need to go to them at all. The man who would have actually helped him if he had only known was Frank A. Cowperwood. Stener could have confessed his mistake, as Cowperwood saw it, and Cowperwood would have given him the money gladly, without any thought of return. But by his poor understanding of human nature, Stener considered that Cowperwood must be an enemy of his, and he would not have had either the courage or the business judgment to approach him.

  During his incarceration Cowperwood had been slowly accumulating a little money through Wingate. He had paid Steger considerable sums from time to time, until that worthy finally decided that it would not be fair to take any more.

  “If ever you get on your feet, Frank,” he said, “you can remember me if you want to, but I don’t think you’ll want to. It’s been nothing but lose, lose, lose for you through me. I’ll undertake this matter of getting that appeal to the Governor without any charge on my part. Anything I can do for you from now on is free gratis for nothing.”

  “Oh, don’t talk nonsense, Harper,” replied Cowperwood. “I don’t know of anybody that could have done better with my case. Certainly there isn’t anybody that I would have trusted as much. I don’t like lawyers you know.”

  “Yes—well,” said Steger, “they’ve got nothing on financiers, so we’ll call it even.” And they shook hands.

  So when it was finally decided to pardon Stener, which was in the early part of March, 1873—Cowperwood’s pardon was necessarily but gingerly included. A delegation, consisting of Strobik, Harmon, and Winpenny, representing, as it was intended to appear, the unanimous wishes of the council and the city administration, and speaking for Mollenhauer and Simpson, who had given their consent, visited the Governor at Harrisburg and made the necessary formal representations which were intended to impress the public. At the same time, through the agency of Steger, Davison, and Walter Leigh, the appeal in behalf of Cowperwood was made. The Governor, who had had instructions beforehand from sources quite superior to this committee, was very solemn about the whole procedure. He would take the matter under advisement. He would look into the history of the crimes and the records of the two men. He could make no promises—he would see. But in ten days, after allowing the petitions to gather considerable dust in one of his pigeonholes and doing absolutely nothing toward investigating anything, he issued two separate pardons in writing. One, as a matter of courtesy, he gave into the hands of Messrs. Strobik, Harmon, and Winpenny, to bear personally to Mr. Stener, as they desired that he should. The other, on Steger’s request, he gave to him. The two committees which had called to receive them then departed; and the afternoon of that same day saw Strobik, Harmon, and Winpenny arrive in one group, and Steger, Wingate, and Walter Leigh in another, at the prison gate, but at different hours.

  Chapter LVIII

  This matter of the pardon of Cowperwood, the exact time of it, was kept a secret from him, though the fact that he was to be pardoned soon, or that he had a very excellent chance of being, had not been denied—rather had been made much of from time to time. Wingate had kept him accurately informed as to the progress being made, as had Steger; but when it was actually ascertained, from the Governor’s private secretary, that a certain day would see the pardon handed over to them, Steger, Wingate, and Walter Leigh had agreed between themselves that they would say nothing, taking Cowperwood by surprise. They even went so far—that is, Steger and Wingate did—as to indicate to Cowperwood that there was some hitch to the proceedings and that he might not now get out so soon. Cowperwood was somewhat depressed, but properly stoical; he assured himself that he could wait, and that he would be all right sometime. He was rather surprised therefore, one Friday afternoon, to see Wingate, Steger, and Leigh appear at his cell door, accompanied by Warden Desmas.

  The warden was quite pleased to think that Cowperwood should finally be going out—he admired him so much—and decided to come along to the cell, to see how he would take his liberation. On the way Desmas commented on the fact that he had always been a model prisoner. “He kept a little garden out there in that yard of his,” he confided to Walter Leigh. “He had violets and pansies and geraniums out there, and they did very well, too.”

  Leigh smiled. It was like Cowperwood to be industrious and tasteful, even in prison. Such a man could not be conquered. “A very remarkable man, that,” he remarked to Desmas.

  “Very,” replied the warden. “You can tell that by looking at him.”

  The four looked in through the barred door where he was working, without being observed, having come up quite silently.

  “Hard at it, Frank?” asked Steger.

  Cowperwood glanced over his shoulder and got up. He had been thinking, as always these days, of what he would do when he did get out.

  “What is this,” he asked—“a political delegation?” He suspected something on the instant. All four smiled cheeringly, and Bonhag unlocked the door for the warden.

  “Nothing very much, Frank,” replied Steger, gleefully, “only you’re a free man. You can gather up your traps and come right along, if you wish.”

  Cowperwood surveyed his fri
ends with a level gaze. He had not expected this so soon after what had been told him. He was not one to be very much interested in the practical joke or the surprise, but this pleased him—the sudden realization that he was free. Still, he had anticipated it so long that the charm of it had been discounted to a certain extent. He had been unhappy here, and he had not. The shame and humiliation of it, to begin with, had been much. Latterly, as he had become inured to it all, the sense of narrowness and humiliation had worn off. Only the consciousness of incarceration and delay irked him. Barring his intense desire for certain things—success and vindication, principally—he found that he could live in his narrow cell and be fairly comfortable. He had long since become used to the limy smell (used to defeat a more sickening one), and to the numerous rats which he quite regularly trapped. He had learned to take an interest in chair-caning, having become so proficient that he could seat twenty in a day if he chose, and in working in the little garden in spring, summer, and fall. Every evening he had studied the sky from his narrow yard, which resulted curiously in the gift in later years of a great reflecting telescope to a famous university. He had not looked upon himself as an ordinary prisoner, by any means—had not felt himself to be sufficiently punished if a real crime had been involved. From Bonhag he had learned the history of many criminals here incarcerated, from murderers up and down, and many had been pointed out to him from time to time. He had been escorted into the general yard by Bonhag, had seen the general food of the place being prepared, had heard of Stener’s modified life here, and so forth. It had finally struck him that it was not so bad, only that the delay to an individual like himself was wasteful. He could do so much now if he were out and did not have to fight court proceedings. Courts and jails! He shook his head when he thought of the waste involved in them.

  “That’s all right,” he said, looking around him in an uncertain way. “I’m ready.”

  He stepped out into the hall, with scarcely a farewell glance, and to Bonhag, who was grieving greatly over the loss of so profitable a customer, he said: “I wish you would see that some of these things are sent over to my house, Walter. You’re welcome to the chair, that clock, this mirror, those pictures—all of these things in fact, except my linen, razors, and so forth.”

  The last little act of beneficence soothed Bonhag’s lacerated soul a little. They went out into the receiving overseer’s office, where Cowperwood laid aside his prison suit and the soft shirt with a considerable sense of relief. The clog shoes had long since been replaced by a better pair of his own. He put on the derby hat and gray overcoat he had worn the year before, on entering, and expressed himself as ready. At the entrance of the prison he turned and looked back—one last glance—at the iron door leading into the garden.

  “You don’t regret leaving that, do you, Frank?” asked Steger, curiously.

  “I do not,” replied Cowperwood. “It wasn’t that I was thinking of. It was just the appearance of it, that’s all.”

  In another minute they were at the outer gate, where Cowperwood shook the warden finally by the hand. Then entering a carriage outside the large, impressive, Gothic entrance, the gates were locked behind them and they were driven away.

  “Well, there’s an end of that, Frank,” observed Steger, gayly; “that will never bother you any more.”

  “Yes,” replied Cowperwood. “It’s worse to see it coming than going.”

  “It seems to me we ought to celebrate this occasion in some way,” observed Walter Leigh. “It won’t do just to take Frank home. Why don’t we all go down to Green’s? That’s a good idea.”

  “I’d rather not, if you don’t mind,” replied Cowperwood, feelingly. “I’ll get together with you all, later. Just now I’d like to go home and change these clothes.”

  He was thinking of Aileen and his children and his mother and father and of his whole future. Life was going to broaden out for him considerably from now on, he was sure of it. He had learned so much about taking care of himself in those thirteen months. He was going to see Aileen, and find how she felt about things in general, and then he was going to resume some such duties as he had had in his own concern, with Wingate & Co. He was going to secure a seat on ’change again, through his friends; and, to escape the effect of the prejudice of those who might not care to do business with an ex-convict, he was going to act as general outside man, and floor man on ’change, for Wingate & Co. His practical control of that could not be publicly proved. Now for some important development in the market—some slump or something. He would show the world whether he was a failure or not.

  They let him down in front of his wife’s little cottage, and he entered briskly in the gathering gloom.

  On September 18, 1873, at twelve-fifteen of a brilliant autumn day, in the city of Philadelphia, one of the most startling financial tragedies that the world has ever seen had its commencement. The banking house of Jay Cooke & Co., the foremost financial organization of America, doing business at Number 114 South Third Street in Philadelphia, and with branches in New York, Washington, and London, closed its doors. Those who know anything about the financial crises of the United States know well the significance of the panic which followed. It is spoken of in all histories as the panic of 1873, and the widespread ruin and disaster which followed was practically unprecedented in American history.

  At this time Cowperwood, once more a broker—ostensibly a broker’s agent—was doing business in South Third Street, and representing Wingate & Co. on ’change. During the six months which had elapsed since he had emerged from the Eastern Penitentiary he had been quietly resuming financial, if not social, relations with those who had known him before.

  Furthermore, Wingate & Co. were prospering, and had been for some time, a fact which redounded to his credit with those who knew. Ostensibly he lived with his wife in a small house on North Twenty-first Street. In reality he occupied a bachelor apartment on North Fifteenth Street, to which Aileen occasionally repaired. The difference between himself and his wife had now become a matter of common knowledge in the family, and, although there were some faint efforts made to smooth the matter over, no good resulted. The difficulties of the past two years had so inured his parents to expect the untoward and exceptional that, astonishing as this was, it did not shock them so much as it would have years before. They were too much frightened by life to quarrel with its weird developments. They could only hope and pray for the best.

  The Butler family, on the other hand, what there was of it, had become indifferent to Aileen’s conduct. She was ignored by her brothers and Norah, who now knew all; and her mother was so taken up with religious devotions and brooding contemplation of her loss that she was not as active in her observation of Aileen’s life as she might have been. Besides, Cowperwood and his mistress were more circumspect in their conduct than they had ever been before. Their movements were more carefully guarded, though the result was the same. Cowperwood was thinking of the West—of reaching some slight local standing here in Philadelphia, and then, with perhaps one hundred thousand dollars in capital, removing to the boundless prairies of which he had heard so much—Chicago, Fargo, Duluth, Sioux City, places then heralded in Philadelphia and the East as coming centers of great life—and taking Aileen with him. Although the problem of marriage with her was insoluble unless Mrs. Cowperwood should formally agree to give him up—a possibility which was not manifest at this time, neither he nor Aileen were deterred by that thought. They were going to build a future together—or so they thought, marriage or no marriage. The only thing which Cowperwood could see to do was to take Aileen away with him, and to trust to time and absence to modify his wife’s point of view.

  This particular panic, which was destined to mark a notable change in Cowperwood’s career, was one of those peculiar things which spring naturally out of the optimism of the American people and the irrepressible progress of the country. It was the result, to be accurate, of the prestige and ambition of Jay Cooke, whose early training and sub
sequent success had all been acquired in Philadelphia, and who had since become the foremost financial figure of his day. It would be useless to attempt to trace here the rise of this man to distinction; it need only be said that by suggestions which he made and methods which he devised the Union government, in its darkest hours, was able to raise the money wherewith to continue the struggle against the South. After the Civil War this man, who had built up a tremendous banking business in Philadelphia, with great branches in New York and Washington, was at a loss for some time for some significant thing to do, some constructive work which would be worthy of his genius. The war was over; the only thing which remained was the finances of peace, and the greatest things in American financial enterprise were those related to the construction of transcontinental railway lines. The Union Pacific, authorized in 1860, was already building; the Northern Pacific and the Southern Pacific were already dreams in various pioneer minds. The great thing was to connect the Atlantic and the Pacific by steel, to bind up the territorially perfected and newly solidified Union, or to enter upon some vast project of mining, of which gold and silver were the most important. Actually railway-building was the most significant of all, and railroad stocks were far and away the most valuable and important on every exchange in America. Here in Philadelphia, New York Central, Rock Island, Wabash, Central Pacific, St. Paul, Hannibal & St. Joseph, Union Pacific, and Ohio & Mississippi were freely traded in. There were men who were getting rich and famous out of handling these things; and such towering figures as Cornelius Vanderbilt, Jay Gould, Daniel Drew, James Fish, and others in the East, and Fair, Crocker, W. R. Hearst, and Collis P. Huntington, in the West, were already raising their heads like vast mountains in connection with these enterprises. Among those who dreamed most ardently on this score was Jay Cooke, who without the wolfish cunning of a Gould or the practical knowledge of a Vanderbilt, was ambitious to thread the northern reaches of America with a band of steel which should be a permanent memorial to his name.