treated particularly of this
affair; nevertheless, I seem to have observed that it was only your
filial respect which restrained you from criticising my conduct in
admitting Jacob Worse into the firm.

"For this reason, my dear Christian Frederik, I will speak out once
for all, and say that it was neither more nor less than the salvation
of the firm.

"It may be that there is something humiliating in this avowal; but,
for my part, I can only say that it would have been far more
humiliating and more injurious to our credit to have secretly
accepted a subvention from one of our own _employes_.

"It was I, therefore, who proposed the change in the firm; for I
considered such an open proceeding, not only more in consonance with
our reputation, but also with the highest commercial principles. I
will not deny, however, that the change of the firm's name cost me a
struggle, and I am not blind to the complications to which it may
lead.

"I have of late carefully considered all this, and it is my purpose
to inform you in this letter of the present condition of affairs, and
briefly to confide to you the plan which I propose to follow, and
which I hope to carry out in the future.

"Our old Jacob Worse is very ill, and, after a visit which I paid to
his sick-bed a few days since, I can have but little doubt--I regret
to say--that his days are numbered. His marriage, as I both thought
and predicted, has brought him little happiness.

"His wife, as you know, is one of the religious enthusiasts, and of
late years she, in conjunction with her mother and the rest of the
pious folks, have succeeded in spoiling our old Worse to such an
extent that I do not care to sully this paper by a description of his
lamentable decadence. I shall, therefore, restrain my grief and
anger, and will confine myself to business matters.

"When Jacob Worse dies--and, considering his present condition, one
can only wish him a speedy and painless departure--it will be
necessary to divide his property between his widow and the son of his
first marriage, which may entail complications as regards the firm.

"In order to avoid this as much as possible, I have made up my mind
to offer to young Romarino Worse, when the time arrives, a sum of
money in lieu of a position in the firm. I am inclined to think that
he will acquiesce, partly because, according to my slight knowledge
of his character, a considerable sum, either in cash or convertible
security, wi