The first visit Frances made to the lake after her return, discovered to her, that it was sadly changed. It was no longer full to overflowing, but swampy and low; the water was constantly drained off to supply the manufactory and mills which were erected at a distance. Mr. Draper had found out that the little stream could much more than earn its own living, and it was made to work hard. One thing, however, was wanting to complete his Clyde speculations, and that was a rail-road. This had now become necessary. Every thing afforded the greatest facility for it. Laborers could be procured from the village and farms in the vicinity. Yet how could he reconcile his wife to it? The road must pass through the hill, and near the house. He was aware that it would destroy the rural beauty of the place; but what an increase of wealth it would be! what a princely revenue! what a spirit of business and speculation it would spread through the country! Every man would be able not only to make the most of his capital, but to get credit to ten times its real amount. He considered it a public benefit, and he was imperiously called to accomplish it; and so he stated the matter to his wife with as much tenderness towards her feelings as the case would admit.

“I hoped,” said she, “that the sum of your public benefits was completed by our sacrifice in the city.”

“That is not spoken with your usual generous feeling, Frances,” replied he. “When are patriotic exertions to cease? Are we not called upon to be constantly making them?”

“Howard would say it is injuring the cause of the country to turn agriculturists into speculators,” said Frances.

“Howard is an excellent man,” replied Mr. Draper; “he is born to be a farmer, and nothing else. I have no wish to change his vocation; he dignifies it by uniting intelligence with manual labor; but there are many who are toiling merely for money, and they can get much more by my method than his.”

“Will their happiness be increased?” said Mrs. Draper.

“Certainly, inasmuch as wealth procures the means of happiness.”

“Have you found it so?” again asked Frances.

“Not precisely. I am still toiling; my season for rest and enjoyment has not arrived.”

“And yet,” said Frances, “Howard is rich enough for enjoyment. You have already a great estate; let me ask, what advantage you derive from it beyond your daily meals? You take care of this immense property; you are continually increasing it, and all the compensation you get is a bare living. Would any of the clerks you employ in your counting-room labor for such low wages?”

“My dear Frances,” said Mr. Draper, affectionately, “I am always contented to admire your ingenuity without combating your arguments. Perhaps it might be better, if you had cultivated a little more of the rationale of life.”

“Well,” replied she, languidly smiling, “I am going to prove to you, that I have profited by your example, and am becoming a business wife. You call this farm mine, and tell me you bought it for me?”

“Certainly; all I have is yours.”

“I claim no title to any thing but this; but this I consider your gift, and as such accept it.”

Mr. Draper certainly did not look delighted at this unexpected statement, and began to tremble for his rail-road; but he remained silent.

“You have undoubtedly greatly increased the actual value of Clyde Farm, by mills and manufactories?”

“Certainly I have; but all is in a manner useless without the rail-road as a means of transportation: that will put every thing into complete operation, and make the revenue princely.”

“Then,” said Frances, “I can have no hesitation in making my offer. I will sell this place to you for what you gave for it. Secure the sum to me outright, and I renounce my title to Clyde Farm. Make it, if you please, wholly a manufacturing place; do not consult me whether there shall be rail-roads or mills.”

“Upon my word,” said Mr. Draper, “with an estate like mine, I should be mortified to make such a paltry purchase of my wife. It is for you and our only child that I am accumulating a fortune. Have you ever found me sordid or tenacious of money, that you wish a certain sum secured to you?”

“Never,” said she with emotion; “all that money can purchase, you have been most liberal in procuring me. Would that you were as generous to yourself!”

“We all have our own ideas of happiness,” said Mr. Draper; “but since it is your wish, Frances, I will close with your proposal, and secure to you twenty thousand dollars, which is a little more than I paid for Clyde Farm. Legal instruments shall be immediately drawn up; and to convince you that I wish for no control over that sum, I will have it put in trust.”

“Let the instrument be so worded,” said Frances, “that it shall revert to our child at my death.”

“As you please,” said Mr. Draper, coldly; “it is all the same to me.”