mself and the two friends, "Lemercier has confided to me the
state of your affairs in connection with M. Louvier, and flatters me by
thinking my advice may be of some service; if so, command me."

"I shall most gratefully accept your advice," answered Alain, "but I
fear my condition defies even your ability and skill."

"Permit me to hope not, and to ask a few necessary questions. M. Louvier
has constituted himself your sole mortgagee; to what amount, at what
interest, and from what annual proceeds is the interest paid?"

Herewith Alain gave details already furnished to the reader. Duplessis
listened, and noted down the replies.

"I see it all," he said, when Alain had finished. "M. Louvier had
predetermined to possess himself of your estate: he makes himself
mortgagee at a rate of interest so low, that I tell you fairly, at the
present value of money, I doubt if you could find any capitalist who
would accept the transfer of the mortgage at the same rate. This is not
like Louvier, unless he had an object to gain, and that object is your
land. The revenue from your estate is derived chiefly from wood, out
of which the interest due to Louvier is to be paid. M. Gandrin, in a
skilfully-guarded letter, encourages you to sell the wood from your
forests to a man who offers you several thousand francs more than it
could command from customary buyers. I say nothing against M. Gandrin,
but every man who knows Paris as I do, knows that M. Louvier can
put, and has put, a great deal of money into M. Gandrin's pocket. The
purchaser of your wood does not pay more than his deposit, and has
just left the country insolvent. Your purchaser, M. Collot, was an
adventurous speculator; he would have bought anything at any price,
provided he had time to pay; if his speculations had been lucky he would
have paid. M. Louvier knew, as I knew, that M. Collot was a gambler,
and the chances were that he would not pay. M. Louvier allows a year's
interest on his hypotheque to become due-notice thereof duly given
to you by his agent--now you come under the operation of the law. Of
course, you know what the law is?"

"Not exactly," answered Alain, feeling frostbitten by the congealing
words of his counsellor; "but I take it for granted that if I cannot pay
the interest of a sum borrowed on my property, that property itself is
forfeited."

"No, not quite that--the law is mild. If the interest which should be
paid half-yearly remains unpaid at the e