“What do you think of the Bourse?” asked Lemercier, as their carriage took the way to the Bois.

“I cannot think of it yet; I am stunned. It seems to me as if I had been at a ‘Sabbat,’ of which the wizards were ‘agents de change,’ but not less bent upon raising Satan.”

“Pooh! the best way to exorcise Satan is to get rich enough not to be tempted by him. The fiend always loved to haunt empty places; and of all places nowadays he prefers empty purses and empty stomachs.”

“But do all people get rich at the Bourse? or is not one man’s wealth many men’s ruin?”

“That is a question not very easy to answer; but under our present system Paris gets rich, though at the expense of individual Parisians. I will try and explain. The average luxury is enormously increased even in my experience; what were once considered refinements and fopperies are now called necessary comforts. Prices are risen enormously, house-rent doubled within the last five or six years; all articles of luxury are very much dearer; the very gloves I wear cost twenty per cent more than I used to pay for gloves of the same quality. How the people we meet live, and live so well, is an enigma that would defy AEdipus if AEdipus were not a Parisian. But the main explanation is this: speculation and commerce, with the facilities given to all investments, have really opened more numerous and more rapid ways to fortune than were known a few years ago.

“Crowds are thus attracted to Paris, resolved to venture a small capital in the hope of a large one; they live on that capital, not on their income, as gamesters do. There is an idea among us that it is necessary to seem rich in order to become rich. Thus there is a general extravagance and profusion. English milords marvel at our splendour. Those who, while spending their capital as their income, fail in their schemes of fortune, after one, two, three, or four years, vanish. What becomes of them, I know no more than I do what becomes of the old moons. Their place is immediately supplied by new candidates. Paris is thus kept perennially sumptuous and splendid by the gold it engulfs. But then some men succeed,—succeed prodigiously, preternaturally; they make colossal fortunes, which are magnificently expended. They set an example of show and pomp, which is of course the more contagious because so many men say, ‘The other day those millionnaires were as poor as we are; they never economized; why should we?’ Paris is thus doubly enriched,—by the fortunes it swallows up, and by the fortunes it casts up; the last being always reproductive, and the first never lost except to the individuals.”

“I understand: but what struck me forcibly at the scene we have left was the number of young men there; young men whom I should judge by their appearance to be gentlemen, evidently not mere spectators,—eager, anxious, with tablets in their hands. That old or middle-aged men should find a zest in the pursuit of gain I can understand, but youth and avarice seem to me a new combination, which Moliere never divined in his ‘Avare.’”

“Young men, especially if young gentlemen, love pleasure; and pleasure in this city is very dear. This explains why so many young men frequent the Bourse. In the old gaining now suppressed, young men were the majority; in the days of your chivalrous forefathers it was the young nobles, not the old, who would stake their very mantles and swords on a cast of the die. And, naturally enough, mon cher; for is not youth the season of hope, and is not hope the goddess of gaming, whether at rouge-et-noir or the Bourse?”

Alain felt himself more and more behind his generation. The acute reasoning of Lemercier humbled his amour propre. At college Lemercier was never considered Alain’s equal in ability or book-learning. What a stride beyond his school-fellow had Lemercier now made! How dull and stupid the young provincial felt himself to be as compared with the easy cleverness and half-sportive philosophy of the Parisian’s fluent talk!

He sighed with a melancholy and yet with a generous envy. He had too fine a natural perception not to acknowledge that there is a rank of mind as well as of birth, and in the first he felt that Lemercier might well walk before a Rochebriant; but his very humility was a proof that he underrated himself.

Lemercier did not excel him in mind, but in experience. And just as the drilled soldier seems a much finer fellow than the raw recruit, because he knows how to carry himself, but after a year’s discipline the raw recruit may excel in martial air the upright hero whom he now despairingly admires, and never dreams he can rival; so set a mind from a village into the drill of a capital, and see it a year after; it may tower a head higher than its recruiting-sergeant.