hundred and fifty, or eight hundred miles; that
is to say, it will exceed the line now laid down
between Calais and Toulon by not more than a
hundred and fifty or two hundred miles. It
will unquestionably draw to itself the whole
merchant traffic of India, China, Persia, and
Ceylon. It will be the nearest route to Australia,
and it will bring Bombay within twelve or
fourteen days of London."

"It takes one's breath away!" said Saxon.

Mr. Trefalden smiled, a smile of quiet
triumph.

"But this is not all," said he. "We have
reason to believe that at Hit, where there are
mineral springs, we shall find coal; and as Hit
lies very nearly half way between Sidon and the
Gulf, we shall be enabled to supply our steam-
service at both shores, and our whole line of
railway from one central source."

"Those must be the bituminous fountains
mentioned by Herodotus," said Saxon, quickly;
"the fountains of Is that supplied asphalte for
cementing the walls of Babylon!"

"If possible, Saxon, oblige me by confining
your attention to the nineteenth century,"
expostulated the lawyer. "Try to think of
Babylon as a railway station, and of Palmyra as
a place where the guard allows twenty minutes
for refreshments. Yes—I knew that would appal
you. Now, perhaps, you will give me your
opinion of the New Overland Route."

"My opinion!" repeated Saxon. "You
might as well ask my opinion of the geology of
Uranus!"

"That is the very consideration which deters
me from recommending it as an investment."

"Oh, you need not let it do that," laughed
Saxon. "I am as ignorant of one business
matter as another. I told you just now that
you must be my brains, whenever money came
in question!"

"But what makes it still more difficult is,
that in this case I may not let you benefit by
any other person's brains," replied Mr.
Trefalden. "There are many interests to be
combated in the promotion of such a scheme as
this; and it is of importance that we keep it,
for the present, profoundly secret. Whether
you interest yourself in it or not, I must bind
you over, Saxon, to breathe no word of this
matter to any living ear."

Saxon gave the promise unhesitatingly; but
did not understand why it should be necessary.

"Because we must not rouse opposition
before our system is matured," explained Mr.
Trefalden.

"But if the new route is so great an improvement,"
urged Saxon, "who would oppose it?"

"All those persons who are interested in the
old one," replied his cousin, smiling. "The
Peninsular and Oriental Steam-packet Company
—the shareholders and directors of the Suez
Railway—the forty thousand English who
colonise Alexandria."

"And would all those persons be ruined?"

"Every reformation ruins somebody,"
observed Mr. Trefalden, philosophically.

"Yes, but the reformer is bound to balance
present evil against future good. Would this
future good outweigh the present evil?"

"Unquestionably."

"In what way?"

Mr. Trefalden was momentarily puzzled. He
had contemplated this subject from all sides
except the one now presented to him. The
benevolent point of view had never occurred to him.

"Well," he suggested, "it will give employment
to thousands . . . ."

"But it will throw thousands out of
employment."

"—it will promote commerce, extend the
boundaries of civilisation, improve Arabia . . ."

"I wouldn't help to ruin forty thousand
English for the sake of improving Arabia,"
interrupted Saxon, hastily.

"—and bring the shores of England and
Hindostan so near, that, were another mutiny to
break out, we could land our troops at Bombay
within twelve days after receiving the intelligence.
The value of that possibility alone is
incalculable."

"That is true; but . . . ."

"And of our absolute success," continued
Mr. Trefalden, "there can be no kind of doubt.
I have been almost unwilling, Saxon, to embark
you in an enterprise the advantages of which,
however obvious to practical men, are not open
to immediate test; but it is my duty to tell
you that I have never known so brilliant an
opening for the employment of capital."

"But . . . ."

"Seven and a half per cent is merely the rate
of interest offered by the company while the
works are in progress; but when once the route
is completed, the returns will be enormous.
Your seven and a half per cent, my dear fellow,
will become twenty-five—perhaps fifty."

"I don't want twenty-five, or fifty," replied
Saxon. "I have more money now than I know
what to do with."

"I am sure you will always make good use
of whatever wealth you possess," said Mr.
Trefalden.

"And it would break my heart to injure all
those who live by the present system. Why,
for instance, should I desire to ruin the
Peninsular and Oriental Steam-packet Company?"

"We hope to do no such thing," said Mr.
Trefalden. "We shall propose a coalition, and
probably employ the very same vessels."

"And then the English colony at
Alexandria!"

"Sidon will become what Alexandria is now
—or rather, will become a far more important
place than Alexandria has ever been since the
days of her ancient prosperity. Just as we now
require banks, warehouses, quays, and churches
at Alexandria, we shall then require them at
Sidon. The Alexandrian colonists are wealthy
and enterprising: they will simply remove to the
new port, and in ten years' time will be richer
than if they had remained where they were."

"Do you really think so?"

"I do not think it; I know it. And the