The Quest of the Silver Fleece Part 34

"I don't believe it."

"I know it; the trust has got money and credit enough to force it down."

"Well, what then?" The Colonel glared.

"Then somebody will corner it."

"The Farmers' League won't stand--"

"Precisely. The Farmers' League can do the cornering and hold it for higher prices."

"Lord, son! if we only could!" groaned the Colonel.

"We can; we'll have unlimited credit."

"But--but--" stuttered the bewildered Colonel, "I don't understand. Why should the trust--"

"Nonsense, Father--what's the use of understanding. Our advantage is plain, and John Taylor guarantees the thing."

"Who's John Taylor?" snorted the Colonel. "Why should we trust him?"

"Well," said Harry slowly, "he wants to marry Helen--"

His father grew apopletic.

"I'm not saying he will, Father; I'm only saying that he wants to,"

Harry made haste to placate the rising tide of wrath.

"No Southern gentleman--" began the Colonel. But Harry shrugged his shoulders.

"Which is better, to be crushed by the trust or to escape at their expense, even if that escape involves unwarranted a.s.sumptions on the part of one of them? I tell you, Father, the code of the Southern gentleman won't work in Wall Street."

"And I'll tell you why--there _are_ no Southern gentlemen," growled his father.

The Silver Fleece was golden, for its prices were flying aloft. Mr.

Caldwell told Colonel Cresswell that he confidently expected twelve-cent cotton.

"The crop is excellent and small, scarcely ten million bales," he declared. "The price is bound to go up."

Colonel Cresswell was hesitant, even doubtful; the demand for cotton at high prices usually fell off rapidly and he had heard rumors of curtailed mill production. While, then, he hoped for high prices he advised the Farmers' League to be on guard.

Mr. Caldwell seemed to be right, for cotton rose to ten cents a pound--ten and a half--eleven--and then the South began to see visions and to dream dreams.

"Yes, my dear," said Mr. Maxwell, whose lands lay next to the Cresswells' on the northwest, "yes, if cotton goes to twelve or thirteen cents as seems probable, I think we can begin the New House"--for Mrs.

Maxwell's cherished dream was a pillared mansion like the Cresswells'.

Mr. Tolliver looked at his house and barns. "Well, daughter, if this crop sells at twelve cents, I'll be on my feet again, and I won't have to sell that land to the n.i.g.g.e.r school after all. Once out of the clutch of the Cresswells--well, I think we can have a coat of paint."

And he laughed as he had not laughed in ten years.

Down in the bottoms west of the swamp a man and woman were figuring painfully on an old slate. He was light brown and she was yellow.

"Honey," he said tremblingly, "I b'lieve we can do it--if cotton goes to twelve cents, we can pay the mortgage."

Two miles north of the school an old black woman was shouting and waving her arms. "If cotton goes to twelve cents we can pay out and be free!"

and she threw her ap.r.o.n over her head and wept, gathering her children in her arms.

But even as she cried a flash and tremor shook the South. Far away to the north a great spider sat weaving his web. The office looked down from the clouds on lower Broadway, and was soft with velvet and leather.

Swift, silent messengers hurried in and out, and Mr. Easterly, deciding the time was ripe, called his henchman to him.

"Taylor, we're ready--go South."

And John Taylor rose, shook hands silently, and went.

As he entered Cresswell's plantation store three days later, a colored woman with a little boy turned sadly away from the counter.

"No, aunty," the clerk was telling her, "calico is too high; can't let you have any till we see how your cotton comes out."

"I just wanted a bit; I promised the boy--"

"Go on, go on--Why, Mr. Taylor!" And the little boy burst into tears while he was hurried out.

"Tightening up on the tenants?" asked Taylor.

"Yes; these n.i.g.g.e.rs are mighty extravagant. Besides, cotton fell a little today--eleven to ten and three-fourths; just a flurry, I reckon.

Had you heard?"

Mr. Taylor said he had heard, and he hurried on. Next morning the long s.h.i.+ning wires of that great Broadway web trembled and flashed again and cotton went to ten cents.

"No house this year, I fear," quoth Mr. Maxwell, bitterly.

The next day nine and a half was the quotation, and men began to look at each other and asked questions.

"Paper says the crop is larger than the government estimate," said Tolliver, and added, "There'll be no painting this year." He looked toward the Smith School and thought of the five thousand dollars waiting; but he hesitated. John Taylor had carefully mentioned seven thousand dollars as a price he was willing to pay and "perhaps more."

Was Cresswell back of Taylor? Tolliver was suspicious and moved to delay matters.

"It's manipulation and speculation in New York," said Colonel Cresswell, "and the Farmers' League must begin operations."

The local paper soon had an editorial on "our distinguished fellow citizen, Colonel Cresswell," and his efforts to revive the Farmers'

League. It was understood that Colonel Cresswell was risking his whole private fortune to hold the price of cotton, and some effort seemed to be needed, for cotton dropped to nine cents within a week. Swift negotiations ensued, and a meeting of the executive committee of the Farmers' League was held in Montgomery. A system of warehouses and warehouse certificates was proposed.

"But that will cost money," responded each of the dozen big landlords who composed the committee; whereupon Harry Cresswell introduced John Taylor, who represented thirty millions of Southern bank stock.

"I promise you credit to any reasonable amount," said Mr. Taylor, "I believe in cotton--the present price is abnormal." And Mr. Taylor knew whereof he spoke, for when he sent a cipher despatch North, cotton dropped to eight and a half. The Farmers' League leased three warehouses at Savannah, Montgomery, and New Orleans.

Then silently the South gripped itself and prepared for battle. Men stopped spending, business grew dull, and millions of eyes were glued to the blackboards of the cotton-exchange. Tighter and tighter the reins grew on the backs of the black tenants.

"Miss Smith, is yo' got just a drap of coffee to lend me? Mr. Cresswell won't give me none at the store and I'se just starving for some," said Aunt Rachel from over the hill. "We won't git free this year, Miss Smith, not this year," she concluded plaintively.