wn fault. As
for France, I loved her. As for America, I believe in her to-day, this
very hour. As for your Grace in person, I was your friend, nor was I
ever disloyal to you. But it sometimes doth seem that, no matter how
sincere be one in one's endeavors, no matter how cherished, no matter
how successful for a time may be his ambitions, there is ever some
little blight to eat the face of the full fruit of his happiness.
To-morrow I shall perhaps not be alive. It is very well. There is
nothing I could desire, and it is as well to-morrow as at any time."

"But surely, Monsieur L'as," interrupted the regent, with a trace of his
old generosity, "if there should be outbreak, as you fear, I shall, of
course, give you a guard. I shall indeed see you safe out of the city,
if you so prefer, though I had much liefer you would remain and try to
help us undo this coil, wherein I much misdoubt myself."

"Your Grace, I am a disappointed man, a man with nothing in the world to
comfort him. I have said that I would not help you, since 'twas yourself
brought ruin on my plans, and cast down that work which I had labored
all my life to finish. Yet I will advise this, as being your most
immediate plan. Smooth down this France as best you may. Remit more
taxes, as I said. Depreciate the value of these shares gently, but
rapidly as you can. Institute great numbers of perpetual annuities.
Juggle, temporize, postpone, get for yourself all the time you can.
Trade for the people's shares all you have that they will take. You can
never strike a balance, and can never atone for the egregious error of
this over-issue of stock which has no intrinsic value. Eventually you
may have to declare void many of these shares and withdraw from the
currency these _actions_ for which so recently the people have been
clamoring."

"That means repudiation!" broke in the regent.

"Certainly, your Grace, and in so far your Grace has my extremest
sympathy. I know it was your resolve not to repudiate the debts of
France, as those debts stood when I first met you some years ago. That
was honorable. Yet now the debts of France are immeasurably greater,
rich as France thinks herself to be. Not all France, were the people and
the produce of the commerce counted in the coin, could pay the debt of
France as it now exists. Hence, honorable or not, there is nothing
else--it is repudiation which now confronts you. France is worse than
bankrupt. And now it would seem wise