The steel industry had frightful7 growing pains for which there was no diagnosis8. The trouble was it grew by violent starts and then had fits of coma9. The[293] profits were so great when there was any profit at all that the steel maker10 would pawn11 his hope of the everlasting12 to build more mills; and perhaps before they were finished the profit had vanished and his despair was as wild as his ecstasy13. The time to buy steel plants was when the sky was visible at Pittsburgh; the time to sell them was when the smoke was so dense14 that the sun at midday resembled a pickled beet16. But at one time no one had the money to buy anything with and at the other time nobody would sell.
These were conditions perfectly17 suited to the exercise of John’s reckless speculative18 genius. In the sloughs19 of despond he bought more property, as he had bought the Agnes plant, with his notes of hand and promises to pay. He seemed never so serene20 as when treading the edge of a financial precipice21 in a high wind with a swaying load on his back. People watched him with awe2. He would do it once too often, they said, as each time he got back to safe ground again. Certainly he was a dangerous man to walk with. In an industry controlled by fatalists he was unique for daring. Yet back of his apparent passion for the gambling22 chance were saving qualities. He had keen, brooding vision and rare business sagacity. When he told a committee of United States Senators that with a tariff23 protection of six-tenths of a cent a pound he would make this country independent of the European steel wire makers24 (this was at the beginning),—when he said that nobody took him seriously. However, they gave him what he wanted. The price of wire was then twelve cents a pound and this[294] country was importing from Europe three-quarters of all it used. A few years later the tables were turned. This country was making more than half the steel wire used in the whole world, selling it heavily even in England, and the price was two cents a pound. So with all things of steel. So with steel rails. When the American steel industry got started at last foreign steel rails were being imported for American railways at $125 a ton. Ultimately American steel rails sold for $18 a ton in this country, in Europe, in Asia and Africa. The United States then had become an exporting nation selling the products of its skill to the four ends of the earth.
Business is warfare25 in time of peace. Hence its lure26 for combative27 men. Its goal is conquest. Let alone it would perhaps wreck28 itself or enslave the world. No matter. When it is ruthless, knowing no law but its own necessity, then it is magnificent.
Attila, king of the Huns, vowing29 no grass to grow where his horse had trod the enemy’s soil, is magnificent. We can see him in that light now that he is far away in history and not pursuing us.
Business as it was in the last quarter of the nineteenth century also is far away. Nothing like it can ever happen again. It was utterly30 lawless, free in its own elemental might, lustful31 and glamorous32. The barbaric invasion that overturned Roman civilization was more obvious as a spectacle but no more extraordinary, no more unexpected, and perhaps as it shall turn out, no more significant, than America’s economic invasion of the world in the steel age. One stupendous[295] sequel already present is the economic, financial and political supremacy33 of the isolated34 American people in the affairs of this earth. What will come of that nobody knows.
The Breakspeares conceived it, imagined it, planned it; the Thanes tooled it. There was of course labor35. But labor no more invents the tools that are the means to economic conquest than soldiers invent the weapons of war, and has generally less understanding of ends than soldiers have of the strategy.
The men controlling the steel industry came to be grouped in three main divisions. There was the original Pittsburgh group, under the leadership of a round head named Carmichael; it had founded itself in iron and then gone into steel. It was steady and powerful and had gained some influential36 support in Wall Street. There was the western group, always falling down and getting up again, very unstable37, yet dangerous as competitors.
And thirdly was the Breakspeare group, extremely unpredictable, whose interests lay in every direction.
John naturally attracted men who loved risk and lived easily with danger. Slaymaker learned the attitude, not thoroughly38, but sufficiently39, and walked doggedly40 along. His goal was wealth for its own sake. Although John’s high adventures often threatened to involve all of them in colossal41 bankruptcy42, yet this never quite happened, and each time it didn’t happen Slaymaker took a part of his profit and hid it away, never to be risked again. Jubal Awns, the lawyer, became superstitious43 about John and followed[296] him blindly. Besides these two, who had been in from the start, there were three others who would be called general partners. They not only were very large stockholders and directors in John’s companies; they joined their capital with his in new undertakings44. One was Isaac Pick, a wordless man who conversed45 in gestures and disbelieved everything including the fact of his own existence. He had made a fortune in scrap46 iron and was brought into the group by Slaymaker at a time when new capital was urgently needed. Another was Col. Wingreene, an exceedingly profane47 man, one of the railroad officials whom John had induced to take original stock in the American Steel Company when it began to make rails. Wingreene had bought out the other railroad people and now devoted48 himself entirely49 to the steel business. A third was Justinian Creed50, a Cleveland banker, very obese51, who believed in the better way and twice a year was in a grovelling52 panic about his sins, never thinking, however, to divest53 himself of the fruits thereof. Thane was a partner, too, only his work was in other material. There were many others loosely affiliated54, but these five,—Slaymaker, Awns, Pick, Wingreene and Creed,—were John’s own, whom he led, and who came to be known generically55 as the Breakspeare Crowd.
When the game was hot they worked at high pressure, wholly sustained one would have thought by strong waters; when it was won they let down with a bang. They were men of strong habits, strong wills, strong feelings and strong humor. One of their odd passions was for getting one another’s goat. In their[297] practical jokes they were serious, grim and imaginative, with an amazing power of deception56. Never was a time when some absurd hoax57 was not brewing58; and if one knew of nothing in pickle15 for another he began to be uneasy about himself. His defence was to prepare something of his own against the field. They were always on guard and regarded one another askance, with a kind of owlish suspicion. One would have thought, seeing them together, that they were too distrustful of themselves to look away or turn to spit. So they were. But this was personal, part of a game, and had nothing to do with business really.
Their code of conduct was intricate. If the word passed they could trust one another implicitly59. Yet they avoided the word so far as possible, preferring in all normal circumstances unlimited60 freedom of personal action, each fellow for himself. In an emergency they came close together, stood back to back, and presented a solid ring to the world. In all situations John led them. Often he moved them against their judgment61. Sometimes he was wrong. Generally he was right. When they acted severally against his judgment, on their own, they were always wrong. His character was perhaps no stronger than theirs; his judgment intrinsically was no better. But he had above all of them a faculty62 of intuition, and he could change his mind. Creed used to say: “John, he looks where he isn’t going and goes where he isn’t looking. His eyes are crossed inside.”
He said it cynically63, and it was distorted by John’s enemies, who took it to mean that he could not be[298] trusted by his own crowd. That was not so. He never broke the code. Creed, as it turned out, was the only man who needed watching within the rules.
Fortuity was the stuff they worked in; hazard was what they played with. They were always betting. No game of chance or skill but they had to add stakes to make it interesting. As they grew richer and more easily bored it was increasingly difficult to find a pastime in which the stakes were high enough. John turned the leisure of their minds to horse racing64. They would appear in a body on the race track and scare the bookmakers with the size of their wagers65. John was their oracle66. They never believed him; they only followed him. When he had involved them in enormous loss they were obliged to go on; there was no other hope of getting out but by his star of luck. And it was by no means infallible. Once at Saratoga they had a frightful week. Twice they had telegraphed home for money. Their losses had gone into six figures. Slaymaker met Awns, Wingreene, Pick and Creed on the hotel veranda67 after breakfast. He was exceedingly sore.
“As long as I live and have my senses I’ll never bet on another horse John picks,” he said. “He dreams these things. He never had a real tip in his life.”
They were all of one mind. They were through. Just then John’s voice reached them from the doorway68, saying: “We’ll get it all back today.”
“No, now listen?” he said. “You always get cold[299] feet at the wrong time. This is our chance. It’s air tight. It’s so secret I can’t even tell you what horse it is. Give me your money and I’ll bet it with mine.”
He sat down and went on with it until Slaymaker said: “I’m an imbecile. If anybody knew what an imbecile I am there would be a run on my bank. This is positively70 the last time.”
They all gave him their money. It was the third race. No more could he tell them. The horses went to the post and still they did not know which one carried their money.
“It’s on,” said John. “It’s down all right. Don’t worry about that.”
“Lord, no,” said Slaymaker. “That’s not what we are worried about.”
John watched the horses. The others watched him.
A horse named Leadbeater took the lead at the start, held all the way and won by four lengths. John fell back with a blank expression.
“That the horse?” asked Slaymaker.
“Yes,” said John. “That’s it.”
“Then what’s the matter?”
“I didn’t bet on it,” said John.
“You didn’t—what!”
“That was the horse,” John explained. “Only after we came out here I got what I thought was a better tip and bet all the money on.... Now, wait!”
They would not wait. They rose with one impulse and left him alone in Saratoga. That night on the train they began to get telegrams from him. Would they authorize71 him to lay five thousand apiece for[300] them on a horse that was bound to win the next day at odds72 of 100 to 1? They tore up the telegrams. More kept coming, overtaking them en route all that night and until noon the next day. They would not even reply. But that horse did win and John by himself broke half the bookmakers at Saratoga.
It was the end of their racing sport for that season. The crowd was too disgusted to touch it again and John did not care for it alone. Slaymaker said it was forever; so did all the rest. Yet the next season they did it all over again.
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1
remarkably
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| ad.不同寻常地，相当地 | |
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2
awe
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| n.敬畏，惊惧；vt.使敬畏，使惊惧 | |
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3
chronically
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| ad.长期地 | |
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steered
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| v.驾驶( steer的过去式和过去分词 )；操纵；控制；引导 | |
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juggling
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| n. 欺骗, 杂耍(=jugglery) adj. 欺骗的, 欺诈的 动词juggle的现在分词 | |
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craved
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| 渴望，热望( crave的过去式 )； 恳求，请求 | |
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frightful
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| adj.可怕的；讨厌的 | |
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diagnosis
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| n.诊断，诊断结果，调查分析，判断 | |
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coma
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| n.昏迷，昏迷状态 | |
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maker
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| n.制造者，制造商 | |
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pawn
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| n.典当，抵押，小人物，走卒；v.典当，抵押 | |
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everlasting
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| adj.永恒的，持久的，无止境的 | |
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13
ecstasy
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| n.狂喜，心醉神怡，入迷 | |
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14
dense
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| a.密集的，稠密的，浓密的；密度大的 | |
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15
pickle
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| n.腌汁，泡菜；v.腌，泡 | |
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16
beet
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| n.甜菜；甜菜根 | |
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17
perfectly
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| adv.完美地，无可非议地，彻底地 | |
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18
speculative
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| adj.思索性的，暝想性的，推理的 | |
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19
sloughs
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| n.沼泽( slough的名词复数 )；苦难的深渊；难以改变的不良心情；斯劳(Slough)v.使蜕下或脱落( slough的第三人称单数 )；舍弃；除掉；摒弃 | |
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20
serene
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| adj. 安详的，宁静的，平静的 | |
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21
precipice
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| n.悬崖，危急的处境 | |
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22
gambling
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| n.赌博；投机 | |
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23
tariff
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| n.关税，税率；(旅馆、饭店等)价目表，收费表 | |
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24
makers
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| n.制造者，制造商（maker的复数形式） | |
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25
warfare
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| n.战争(状态)；斗争；冲突 | |
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26
lure
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| n.吸引人的东西，诱惑物；vt.引诱，吸引 | |
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combative
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| adj.好战的；好斗的 | |
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28
wreck
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| n.失事，遇难；沉船；vt.(船等)失事，遇难 | |
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29
vowing
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| 起誓，发誓（vow的现在分词形式） | |
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30
utterly
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| adv.完全地，绝对地 | |
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31
lustful
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| a.贪婪的；渴望的 | |
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32
glamorous
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| adj.富有魅力的；美丽动人的；令人向往的 | |
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33
supremacy
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| n.至上；至高权力 | |
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34
isolated
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| adj.与世隔绝的 | |
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labor
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| n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦 | |
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36
influential
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| adj.有影响的，有权势的 | |
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37
unstable
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| adj.不稳定的，易变的 | |
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38
thoroughly
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| adv.完全地，彻底地，十足地 | |
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39
sufficiently
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| adv.足够地，充分地 | |
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40
doggedly
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| adv.顽强地，固执地 | |
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41
colossal
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| adj.异常的，庞大的 | |
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42
bankruptcy
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| n.破产；无偿付能力 | |
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43
superstitious
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| adj.迷信的 | |
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44
undertakings
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| 企业( undertaking的名词复数 )； 保证； 殡仪业； 任务 | |
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45
conversed
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| v.交谈，谈话( converse的过去式 ) | |
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46
scrap
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| n.碎片；废料；v.废弃，报废 | |
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47
profane
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| adj.亵神的，亵渎的；vt.亵渎，玷污 | |
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48
devoted
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| adj.忠诚的，忠实的，热心的，献身于...的 | |
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49
entirely
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| ad.全部地，完整地；完全地，彻底地 | |
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50
creed
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| n.信条；信念，纲领 | |
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51
obese
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| adj.过度肥胖的，肥大的 | |
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52
grovelling
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| adj.卑下的，奴颜婢膝的v.卑躬屈节，奴颜婢膝( grovel的现在分词 )；趴 | |
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53
divest
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| v.脱去，剥除 | |
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54
affiliated
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| adj. 附属的, 有关连的 | |
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55
generically
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| adv.一般地 | |
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56
deception
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| n.欺骗，欺诈；骗局，诡计 | |
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57
hoax
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| v.欺骗，哄骗，愚弄；n.愚弄人，恶作剧 | |
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58
brewing
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| n. 酿造, 一次酿造的量 动词brew的现在分词形式 | |
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59
implicitly
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| adv. 含蓄地, 暗中地, 毫不保留地 | |
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60
unlimited
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| adj.无限的，不受控制的，无条件的 | |
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61
judgment
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| n.审判；判断力，识别力，看法，意见 | |
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62
faculty
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| n.才能；学院，系；(学院或系的)全体教学人员 | |
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63
cynically
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| adv.爱嘲笑地，冷笑地 | |
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64
racing
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| n.竞赛，赛马；adj.竞赛用的，赛马用的 | |
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65
wagers
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| n.赌注，用钱打赌( wager的名词复数 )v.在（某物）上赌钱，打赌( wager的第三人称单数 )；保证，担保 | |
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66
oracle
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| n.神谕，神谕处，预言 | |
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67
veranda
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| n.走廊；阳台 | |
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68
doorway
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| n.门口，(喻)入门；门路，途径 | |
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69
groaned
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| v.呻吟( groan的过去式和过去分词 )；发牢骚；抱怨；受苦 | |
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70
positively
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| adv.明确地，断然，坚决地；实在，确实 | |
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71
authorize
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| v.授权，委任；批准，认可 | |
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72
odds
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| n.让步，机率，可能性，比率；胜败优劣之别 | |
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