“Yes, it’s smart enough,” I once observed.  “But, Pinkerton, do you think it’s honest?”

“You don’t think it’s honest!” he wailed.  “O dear me, that ever I should have heard such an expression on your lips!”

At sight of his distress, I plagiarised unblushingly from Myner.  “You seem to think honesty as simple as Blind Man’s Buff,” said I.  “It’s a more delicate affair than that:  delicate as any art.”

“O well! at that rate!” he exclaimed, with complete relief.  “That’s casuistry.”

“I am perfectly certain of one thing:  that what you propose is dishonest,” I returned.

“Well, say no more about it.  That’s settled,” he replied.

Thus, almost at a word, my point was carried.  But the trouble was that such differences continued to recur, until we began to regard each other with alarm.  If there were one thing Pinkerton valued himself upon, it was his honesty; if there were one thing he clung to, it was my good opinion; and when both were involved, as was the case in these commercial cruces, the man was on the rack.  My own position, if you consider how much I owed him, how hateful is the trade of fault-finder, and that yet I lived and fattened on these questionable operations, was perhaps equally distressing.  If I had been more sterling or more combative things might have gone extremely far.  But, in truth, I was just base enough to profit by what was not forced on my attention, rather than seek scenes:  Pinkerton quite cunning enough to avail himself of my weakness; and it was a relief to both when he began to involve his proceedings in a decent mystery.

Our last dispute, which had a most unlooked-for consequence, turned on the refitting of condemned ships.  He had bought a miserable hulk, and came, rubbing his hands, to inform me she was already on the slip, under a new name, to be repaired.  When first I had heard of this industry I suppose I scarcely comprehended; but much discussion had sharpened my faculties, and now my brow became heavy.

“I can be no party to that, Pinkerton,” said I.

He leaped like a man shot.  “What next?” he cried.  “What ails you, anyway?  You seem to me to dislike everything that’s profitable.”

“This ship has been condemned by Lloyd’s agent,” said I.

“But I tell you it’s a deal.  The ship’s in splendid condition; there’s next to nothing wrong with her but the garboard streak and the sternpost.  I tell you Lloyd’s is a ring like everybody else; only it’s an English ring, and that’s what deceives you.  If it was American, you would be crying it down all day.  It’s Anglomania, common Anglomania,” he cried, with growing irritation.

“I will not make money by risking men’s lives,” was my ultimatum.

“Great Caesar! isn’t all speculation a risk?  Isn’t the fairest kind of shipowning to risk men’s lives?  And mining—­how’s that for risk?  And look at the elevator business—­there’s danger, if you like!  Didn’t I take my risk when I bought her?  She might have been too far gone; and where would I have been?  Loudon,” he cried, “I tell you the truth:  you’re too full of refinement for this world!”