ma; and it would be
much more advantageous for us to make our purchases in England,
instead of here. We should save in carriage and in trans-shipment,
besides the profits that the people here make out of their sales to
us. I have made a great many inquiries, at home, as to the prices
for cash in Manchester and Birmingham; and find that we should get
goods there some fifteen percent cheaper than we pay at Calcutta,
even after putting on the freights. So you see, it is an important
matter. Besides, there would be a better choice of goods, and you
know exactly the sort of thing that we require, and the quantities
that we can get rid of; and would be able, therefore, to send
consignments each month, without waiting for advices from me; and
so we should get the things just as readily as we do now, from
here.

"I will give you the names of some of the firms that I have
visited, and with whom I have already paved the way for opening
extensive transactions. During the eighteen months that I have been
away, you have learned all about the banking business; and will
find no more difficulty in managing, in London, than here. Your
brother-in-law Netherly went with me to the Bank of England, and
introduced me to one of the directors. I told him that we intended
to open a house in London, and that as soon as we did so, we should
open an account with them by paying in 30,000 pounds; and that we
should, of course, require some facilities, but probably not to a
large extent, as our payments for teak there would fairly balance
our exports from England; and that I reckoned our trade to be, as a
minimum, 50,000 pounds, each way.

"The matter was made extremely easy by Netherly saying, to my
astonishment:

"'You can let them draw what they like, Mr. Townshend, for I will
give my personal guarantee, up to 50,000 pounds.'

"I remonstrated, but he would not hear anything said.

"'Ridiculous,' he exclaimed, hotly; 'Stanley is my brother-in-law.
He risked his life for me, and you don't suppose that I should mind
risking 50,000 pounds for him.

"'Not,' he went on, turning to the director, 'that there is any
risk in the matter. I know all about the business they do in India,
and that there is not a shadow of risk in it. I know that my
guarantee will be a mere form but, as it may put them on a better
footing with you, to begin with, I shall be very pleased to do it.'

"Of course, we know that there will be no risk in it. The greater
porti