tremendous question. I don't know how to answer it. I should have to give you a lecture upon shares, and companies, and all the vicissitudes of the Funds."

"These, I suppose, are your material, just as written things are the material of a newspaper editor. I understand that," said Hester, "what I want to know is what you do."

"We buy and we sell," he said, with a laugh. "We are no better than any shopkeeper. We buy a thing when it is cheap, and hold it till it becomes dear, and then we sell it again."

"But who," said Hester, with a little scorn, "is so silly as to buy things when they are dear? Is it to oblige you? I thought that was against political economy—and everything of that kind," she added vaguely. It was not the subject Roland would have chosen, but out of that, too, he could draw the thread of talk.

"Political economy is not infallible," he said. "We praise our wares so, and represent their excellence so warmly, that there comes a moment when everybody wishes to buy them. Sometimes they deserve the commendations we bestow, sometimes they—don't. But in either case people buy. And then political economy comes in, and the demand being great[Pg 16] increases the value; so that sometimes we make a nice little bit of profit without spending a penny."

[Pg 16]

Hester looked at him with a blank face. She knew nothing about these mysteries. She shook her head.

"I don't understand business," she said; "but how can you buy without spending a penny? I wish I knew how to do that."

"I should like to do it for you," said Roland, with a look that said still more; for even stockbroking will do as a vehicle for flirtation. "I should like to buy you a quantity of Circassians, for instance, exactly at the right moment, neither too soon nor too late, and sell them next day, perhaps, when the market had turned, and hand you over a thousand pounds or two which you should have made without, as I said, spending a penny. That would make the profession romantic, poetic, if one could conduct such operations for you. Probably I shall put that money into the pocket of some bilious city person who does not want it, instead of into your fair hands——"

"Which do. I don't know if they are fair hands, but they want it certainly. A thousand or two! enough to make people comfortable for life. And what are Circassians?" Hester asked.

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