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THE FINANCIER
The committee in question had originally been organized to
protest against some abuses in the tax department; but since then,
from election to election, it had been drifting from one subject to
another, fi nding an occasional evidence of its worthwhileness in
some newspaper comment and the frightened reformation of some
minor political offi cial who ended, usually, by taking refuge behind the skirts of some higher political power – in the last reaches,
Messrs. Butler, Mollenhauer, and Simpson. Just now it was without
important fuel or ammunition; and this assignment of Cowperwood,
with its attendant crime, so far as the city treasury was concerned,
threatened, as some politicians and bankers saw it, to give it just
the club it was looking for.
However, the decisive conference took place between Cowperwood and the reigning political powers some fi ve days after Cowperwood’s failure, at the home of Senator Simpson, which was located in Rittenhouse Square – a region central for the older order of
wealth in Philadelphia. Simpson was a man of no little refi nement
artistically, of Quaker extraction, and of great wealth-breeding
judgment which he used largely to satisfy his craving for political
predominance. He was most liberal where money would bring him
a powerful or necessary political adherent. He fairly showered offi ces – commissionerships, trusteeships, judgeships, political nominations, and executive positions generally – on those who did his
bidding faithfully and without question. Compared with Butler and
Mollenhauer he was more powerful than either, for he represented the State and the nation. When the political authorities who
were trying to swing a national election were anxious to discover
what the State of Pennsylvania would do, so far as the Republican
party was concerned, it was to Senator Simpson that they appealed.
In the literal sense of the word, he knew. The Senator had long
since graduated from State to national politics, and was an interesting fi gure in the United States Senate at Washington, where his
voice in all the conservative and moneyed councils of the nation
was of great weight.
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THEODORE DREISER
The house that he occupied, of Venetian design, and four stories in height, bore many architectural marks of distinction, such as
the fl oriated window, the door with the semipointed arch, and medallions of colored marble set in the walls. The Senator was a great
admirer of Venice. He had been there often, as he had to Athens and
Rome, and had brought back many artistic objects representative of
the civilizations and refi nements of older days. He was fond, for one
thing, of the stern, sculptured heads of the Roman emperors, and
the fragments of gods and goddesses which are the best testimony of
the artistic aspirations of Greece. In the entresol of this house was
one of his fi nest treasures – a carved and fl oriated base bearing
a tapering monolith some four feet high, crowned by the head of
a peculiarly goatish Pan, by the side of which were the problematic remains of a lovely nude nymph – just the little feet broken
off at the ankles. The base on which the feet of the nymph and
the monolith stood was ornamented with carved ox-skulls intertwined with roses. In his reception hall were replicas of Caligula,
Nero, and other Roman emperors; and on his stair-walls reliefs of
dancing nymphs in procession, and priests bearing offerings of
sheep and swine to the sacrifi cial altars. There was a clock in some
corner of the house which chimed the quarter, the half, the threequarters, and the hour in strange, euphonious, and pathetic notes.
On the walls of the rooms were tapestries of Flemish origin, and in
the reception-hall, the library, the living-room, and the drawingroom, richly carved furniture after the standards of the Italian Renaissance. The Senator’s taste in the matter of paintings was inadequate, and he mistrusted it; but such as he had were of distinguished
origin and authentic. He cared more for his curio-cases fi lled with
smaller imported bronzes, Venetian glass, and Chinese jade. He was
not a collector of these in any notable sense – merely a lover of a few
choice examples. Handsome tiger and leopard skin rugs, the fur of
a musk-ox for his divan, and tanned and brown-stained goat and
kid skins for his tables, gave a sense of elegance and reserved profusion. In addition the Senator had a dining-room done after the Jaco-
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THE FINANCIER
bean idea of artistic excellence, and a wine-cellar which the best of
the local vintners looked after with extreme care. He was a man
who loved to entertain lavishly; and when his residence was thrown
open for a dinner, a reception, or a ball, the best of local society
was to be found there.
The conference was in the Senator’s library, and he received his
colleagues with the genial air of one who has much to gain and little to lose. There were whiskies, wines, cigars on the table, and while
Mollenhauer and Simpson exchanged the commonplaces of the day
awaiting the arrival of Butler, they lighted cigars and kept their inmost thoughts to themselves.
It so happened that upon the previous afternoon Butler had
learned from Mr. David Pettie, the district attorney, of the sixtythousand-dollar-check transaction. At the same time the matter
had been brought to Mollenhauer’s attention by Stener himself.
It was Mollenhauer, not Butler who saw that by taking advantage of
Cowperwood’s situation, he might save the local party from blame,
and at the same time most likely fl eece Cowperwood out of his
street-railway shares without letting Butler or Simpson know anything about it. The thing to do was to terrorize him with a private
threat of prosecution.
Butler was not long in arriving, and apologized for the delay.
Concealing his recent grief behind as jaunty an air as possible, he
began with:
«It’s a lively life I’m leadin’, what with every bank in the city
wantin’ to know how their loans are goin’ to be taken care of».
He took a cigar and struck a match.
«It does look a little threatening», said Senator Simpson, smiling. «Sit down. I have just been talking with Avery Stone, of Jay
Cooke & Company, and he tells me that the talk in Third Street
about Stener’s connection with this Cowperwood failure is growing very strong, and that the newspapers are bound to take up
the matter shortly, unless something is done about it. I am sure that
the news will also reach Mr. Wheat, of the Citizens’ Reform As-
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THEODORE DREISER
sociation, very shortly. We ought to decide now, gentlemen, what
we propose to do. One thing, I am sure, is to eliminate Stener from
the ticket as quietly as possible. This really looks to me as if it might
become a very serious issue, and we ought to be doing what we can
now to offset its effect later».
Mollenhauer pulled a long breath through his cigar, and blew it
out in a rolling steel-blue cloud. He studied the tapestry on the opposite wall but said nothing.
«There is one thing sure», continued Senator Simpson, after
a time, seeing that no one else spoke, «and that is, if we do not begin
a prosecution on our own account within a reasonable time, some
one else is apt to; and that would put rather a bad face on the matter. My own opinion would be that we wait until it is very plain that
prosecution is going to be undertaken by some one else – possibly the Municipal Reform Association – but that we stand ready to
step in and act in such a way as to make it look as though we had
been planning to do it all the time. The thing to do is to gain time;
and so I would suggest that it be made as diffi cult as possible to get at
the treasurer’s books. An investigation there, if it begins at all – as
I think is very likely – should be very slow in producing the facts».
The Senator was not at all for mincing words with his important
confreres, when it came to vital issues. He preferred, in his grandiloquent way, to call a spade a spade.
«Now that sounds like very good sense to me», said Butler, sinking a little lower in his chair for comfort’s sake, and concealing his
true mood in regard to all this. «The boys could easily make that
investigation last three weeks, I should think. They’re slow enough
with everything else, if me memory doesn’t fail me». At the same
time he was cogitating as to how to inject the personality of Cowperwood and his speedy prosecution without appearing to be neglecting the general welfare of the local party too much.
«Yes, that isn’t a bad idea», said Mollenhauer, solemnly, blowing a ring of smoke, and thinking how to keep Cowperwood’s espe-
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THE FINANCIER
cial offense from coming up at this conference and until after he
had seen him.
«We ought to map out our program very carefully», continued
Senator Simpson, «so that if we are compelled to act we can do so very
quickly. I believe myself that this thing is certain to come to an issue
within a week, if not sooner, and we have no time to lose. If my advice were followed now, I should have the mayor write the treasurer
a letter asking for information, and the treasurer write the mayor
his answer, and also have the mayor, with the authority of the common council, suspend the treasurer for the time being – I think we
have the authority to do that – or, at least, take over his principal
duties but without for the time being, anyhow, making any of these
transactions public – until we have to, of course. We ought to be
ready with these letters to show to the newspapers at once, in case
this action is forced upon us».
«I could have those letters prepared, if you gentlemen have no
objection», put in Mollenhauer, quietly, but quickly.
«Well, that strikes me as sinsible», said Butler, easily. «It’s about
the only thing we can do under the circumstances, unless we could
fi nd some one else to blame it on, and I have a suggestion to make in
that direction. Maybe we’re not as helpless as we might be, all things
considered».
There was a slight gleam of triumph in his eye as he said this, at
the same time that there was a slight shadow of disappointment in
Mollenhauer’s. So Butler knew, and probably Simpson, too.
«Just what do you mean?» asked the Senator, looking at Butler
interestedly. He knew nothing of the sixty-thousand-dollar check
transaction. He had not followed the local treasury dealings very
closely, nor had he talked to either of his confreres since the original conference between them. «There haven’t been any outside
parties mixed up with this, have there?» His own shrewd, political
mind was working.
«No-o. I wouldn’t call him an outside party, exactly, Senator»,
went on Butler suavely. «It’s Cowperwood himself I’m thinkin’ of.
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THEODORE DREISER
There’s somethin’ that has come up since I saw you gentlemen last
that makes me think that perhaps that young man isn’t as innocent
as he might be. It looks to me as though he was the ringleader in this
business, as though he had been leadin’ Stener on against his will.
I’ve been lookin’ into the matter on me own account, and as far as
I can make out this man Stener isn’t as much to blame as I thought.
From all I can learn, Cowperwood’s been threatenin’ Stener with
one thing and another if he didn’t give him more money, and only
the other day he got a big sum on false pretinses, which might make
him equally guilty with Stener. There’s sixty-thousand dollars of city
loan certifi cates that has been paid for that aren’t in the sinkingfund. And since the reputation of the party’s in danger this fall,
I don’t see that we need to have any particular consideration for
him». He paused, strong in the conviction that he had sent a most
dangerous arrow fl ying in the direction of Cowperwood, as indeed
he had. Yet at this moment, both the Senator and Mollenhauer were
not a little surprised, seeing at their last meeting he had appeared
rather friendly to the young banker, and this recent discovery
seemed scarcely any occasion for a vicious attitude on his part. Mollenhauer in particular was surprised, for he had been looking on
Butler’s friendship for Cowperwood as a possible stumbling block.
«Um-m, you don’t tell me», observed Senator Simpson, thoughtfully, stroking his mouth with his pale hand.
«Yes, I can confi rm that», said Mollenhauer, quietly, seeing his
own little private plan of browbeating Cowperwood out of his streetrailway shares going glimmering. «I had a talk with Stener the other
day about this very matter, and he told me that Cowperwood had
been trying to force him to give him three hundred thousand dollars more, and that when he refused Cowperwood managed to get
sixty thousand dollars further without his knowledge or consent».
«How could he do that?» asked Senator Simpson, incredulously.
Mollenhauer explained the transaction.
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THE FINANCIER
«Oh», said the Senator, when Mollenhauer had fi nished, «that
indicates a rather sharp person, doesn’t it? And the certifi cates are
not in the sinking-fund, eh?»
«They’re not», chimed in Butler, with considerable enthusiasm.
«Well, I must say», said Simpson, rather relieved in his manner,
«this looks like a rather good thing than not to me. A scapegoat possibly. We need something like this. I see no reason under the circumstances for trying to protect Mr. Cowperwood. We might as well
try to make a point of that, if we have to. The newspapers might just
as well talk loud about that as anything else. They are bound to talk;
and if we give them the right angle, I think that the election might
well come and go before the matter could be reasonably cleared up,
even though Mr. Wheat does interfere. I will be glad to undertake to
see what can be done with the papers».
«Well, that bein’ the case», said Butler, «I don’t see that there’s
so much more we can do now; but I do think it will be a mistake if
Cowperwood isn’t punished with the other one. He’s equally guilty
with Stener, if not more so, and I for one want to see him get what
he deserves. He belongs in the penitentiary, and that’s where he’ll go
if I have my say». Both Mollenhauer and Simpson turned a reserved
and inquiring eye on their usually genial associate. What could be
the reason for his sudden determination to have Cowperwood punished? Cowperwood, as Mollenhauer and Simpson saw it, and as Butler would ordinarily have seen it, was well within his human, if not
his strictly legal rights. They did not blame him half as much for trying to do what he had done as they blamed Stener for letting him do
it. But, since Butler felt as he did, and there was an actual technical
crime here, they were perfectly willing that the party should have
the advantage of it, even if Cowperwood went to the penitentiary.
«You may be right», said Senator Simpson, cautiously. «You
might have those letters prepared, Henry; and if we have to bring
any action at all against anybody before election, it would, perhaps,
be advisable to bring it against Cowperwood. Include Stener if you
have to but not unless you have to. I leave it to you two, as I am
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THEODORE DREISER
compelled to start for Pittsburg next Friday; but I know you will not
overlook any point».
The Senator arose. His time was always valuable. Butler was
highly gratifi ed by what he had accomplished. He had succeeded in
putting the triumvirate on record against Cowperwood as the fi rst
victim, in case of any public disturbance or demonstration against
the party. All that was now necessary was for that disturbance to
manifest itself; and, from what he could see of local conditions, it
was not far off. There was now the matter of Cowperwood’s disgruntled creditors to look into; and if by buying in these he should
succeed in preventing the fi nancier from resuming business, he
would have him in a very precarious condition indeed. It was a sad
day for Cowperwood, Butler thought – the day he had fi rst tried to
lead Aileen astray – and the time was not far off when he could
prove it to him.

CHAPTER XXXIII
In the meantime Cowperwood, from what he could see and hear,
was becoming more and more certain that the politicians would
try to make a scapegoat of him, and that shortly. For one thing, Stires
had called only a few days after he closed his doors and imparted
a signifi cant bit of information. Albert was still connected with
the city treasury, as was Stener, and engaged with Sengstack and
another personal appointee of Mollenhauer’s in going over the treasurer’s books and explaining their fi nancial signifi cance. Stires had
come to Cowperwood primarily to get additional advice in regard to
the sixty-thousand-dollar check and his personal connection with
it. Stener, it seemed, was now threatening to have his chief clerk
prosecuted, saying that he was responsible for the loss of the money
and that his bondsmen could be held responsible. Cowperwood had
merely laughed and assured Stires that there was nothing to this.
«Albert», he had said, smilingly, «I tell you positively, there’s
nothing in it. You’re not responsible for delivering that check to
me. I’ll tell you what you do, now. Go and consult my lawyer –
Steger. It won’t cost you a cent, and he’ll tell you exactly what to
do. Now go on back and don’t worry any more about it. I am sorry
this move of mine has caused you so much trouble, but it’s a hundred to one you couldn’t have kept your place with a new city treasurer, anyhow, and if I see any place where you can possibly fi t in
later, I’ll let you know».
Another thing that made Cowperwood pause and consider at
this time was a letter from Aileen, detailing a conversation which
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THEODORE DREISER
had taken place at the Butler dinner table one evening when Butler,
the elder, was not at home. She related how her brother Owen in effect had stated that they – the politicians – her father, Mollenhauer,
and Simpson, were going to «get him yet» (meaning Cowperwood),
for some criminal fi nancial manipulation of something – she could
not explain what – a check or something. Aileen was frantic with
worry. Could they mean the penitentiary, she asked in her letter?
Her dear lover! Her beloved Frank! Could anything like this really
happen to him?
His brow clouded, and he set his teeth with rage when he read
her letter. He would have to do something about this – see Mollenhauer or Simpson, or both, and make some offer to the city.
He could not promise them money for the present – only notes –
but they might take them. Surely they could not be intending to
make a scapegoat of him over such a trivial and uncertain matter as
this check transaction! When there was the fi ve hundred thousand
advanced by Stener, to say nothing of all the past shady transactions of former city treasurers! How rotten! How political, but how
real and dangerous.
But Simpson was out of the city for a period of ten days, and
Mollenhauer, having in mind the suggestion made by Butler in regard to utilizing Cowperwood’s misdeed for the benefi t of the party,
had already moved as they had planned. The letters were ready and
waiting. Indeed, since the conference, the smaller politicians, taking their cue from the overlords, had been industriously spreading the story of the sixty-thousand-dollar check, and insisting
that the burden of guilt for the treasury defalcation, if any, lay on
the banker. The moment Mollenhauer laid eyes on Cowperwood he
realized, however, that he had a powerful personality to deal with.
Cowperwood gave no evidence of fright. He merely stated, in his
bland way, that he had been in the habit of borrowing money from
the city treasury at a low rate of interest, and that this panic had involved him so that he could not possibly return it at present.
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