not require any more exchange on London, but
that he would send out for his broker, who would sell his bills on the
exchange. He (the manager) would indorse the bills of exchange and
indorse the amounts on his letters of credit. Of course, Mac could only
acquiesce, and Mr. Braga sent a clerk to his broker, Mr. Meyers, to come
around. This was the sharp-eyed Hebrew whom I saw enter.

The manager introduced Meyers to "Mr. Gregory Morrison," and explained
that he was to sell exchange for L20,000 on Morrison's credit, which the
bank would indorse. Meyers said: "Please show me your letters." Putting
his hand into his breast pocket and pulling out the little morocco case
containing the two letters, he handed the case and contents to Meyers,
who, probably without suspicion of anything being wrong, unrolled both
letters, and holding them in his hands, ran his sharp eyes down one of
them and read right through the body of the letter. They came to the
"note," which read: "All sums drawn against this credit please endorce
on the back, and notify the London and Westminster Bank at once." Here
he suddenly halted, turned his hawk's eye on Mac and said: "Why, sir,
here's the word indorse misspelled. Surely the clerks in the London
banks know how to spell!"

Here was a thunderbolt, indeed, that pierced poor Mr. Gregory Morrison
through and through, but he showed no sign. He coolly remarked that he
did not care to have his bills sold on the exchange, but would go and
see the people of the London and Rio and River Plate Banks, as they
probably would want exchange and would doubtless let him have what money
he required. Meyers said very sharply, "Have you letters to those
banks?" "I have," said Mac, at the same time producing two, one to each
bank, and each bearing the stamp of their respective banks.

That he had these letters was a happy thing, and no one under forty
days' time could say for a fact that they were not genuine. The dramatic
production of these letters lulled the fast gathering suspicions, and
would have called a halt had they purposed any serious action, for the
reason that during the forty days it would take to communicate with
London the credits could not be proved to be forgeries. That such
letters existed at all was due entirely to the foresight which had
provided to meet just such a contingency.

We all were for a brief few seconds utterly dumfounded, but quickly
aroused ourselves to the necessity of instant actio