“At the words ‘financial operations’ the vizier’s manner wholly changed; he was profuse in apologies, admitting a little shamefacedly that he had taken me for a soldier, a priest, a poet, or something of that sort, and that if he had had the least idea of my intent he would never have kept me waiting as he had unfortunately done. He proceeded in a hurried and conventional tone to discuss the weather, the latest scandal, and other matters of the sort, until at my own time I proposed to introduce the important subject.
“This I did with becoming dignity. I informed him with the utmost reluctance that the enemy had already approached me for financial assistance. I would not be so hypocritical (I said) as to pretend that I had refused them, or indeed that I had any sentimental preference for one side or the other. As I thus expressed myself the vizier constantly and gravely nodded, as who should say that he esteemed no man so much as one who showed himself indifference to the feelings of the vulgar. I next asked of what sum the government was in immediate need, and on hearing that it amounted to about a quarter of my total capital I put on a very grave look and said that I feared the immediate provision of so large an amount was hardly possible, in view of the poverty and embarrassment of his unhappy country.
“When I rose as though to leave, the vizier, in a state of the utmost excitement, implored me to reconsider so sudden a decision. He was prepared (he swore) to take but an instalment of the whole. Ready money was absolutely necessary. And if, with my profound knowledge of finance, I could devise some way of escape for his master, the most substantial proofs of gratitude would be afforded me.
“Upon hearing this I professed to be plunged into profound thought for about a quarter of an hour, and ended by slowly laying before him as an original and masterly plan the following proposal:
“The poor (he had admitted) were taxed beyond the limits of endurance, and were even upon the point of revolt; the rich were hiding their hoards, and many forms of portable wealth were leaving the country. Let him abandon these uncouth and rapacious methods of obtaining revenue, and ask the wealthier of the loving subjects of the sovereign to lend him at interest what they would certainly refuse to pay him outright. In this way a smaller annual sum by far than was now raised to meet the exigencies of the war would suffice to meet the obligations of the government. The capital so raised would be spent upon the campaign; the charge imposed upon the people would, it is true, be perpetual; but it would be so much smaller than the existing taxation as to be everywhere welcomed.
“The vizier sadly responded that though he would be very happy to undertake such a course he feared that the wealthy inhabitants would never lend (knowing, as they did, the embarrassment of the government) save upon ruinous terms.
“I had been waiting for this confession, and I at once suggested that I could act as go-between. I would, said I, stand guarantor. My great wealth would at once restore opinion, the loan would certainly be taken up, and I should only make the nominal charge of five gold pieces every year for each hundred I had thus guaranteed.
“The vizier was so astounded at my generosity that he almost fell backward, but recovering himself, he poured forth the most extravagant thanks, which were hardly marred by the look I detected in his eye, a look certainly betraying the belief that such an offer from a commercial man could hardly be made in good faith. To reassure him I adopted what is known in the financial world as the seventh, or frankly simple, tone. I told him without reserve the total of my wealth (which I put at a fifth of its real amount) and promised to bring it in cash to offices which he should permit me to establish in the city.
“Entering the next day with a million pieces of gold charged upon a train of very heavily laden camels, I set up my bank in the most crowded portion of the bazaar, published news of my intention to support the government, inviting the public inspection of the metal so lent, and at the same time proposing that any who desired regular interest of four pieces guaranteed by myself annually upon every hundred should come forward to take the loan off my hands. The hoards of gold still remaining in the country reappeared as though by magic—so much more delightful is it to lend voluntarily at interest than to pay away under torture forever—and at last there applied at my office for the favour of extending a loan ten times as many citizens as the situation required.
“My terms with the government were simple, and, I am sure, moderate. All that I asked was that the tax collectors should in future pay their receipts into my chest, from which I pledged myself to hand over to the government whatever surplus there might be after I had paid to the lenders their
