“When the stage machinery is so huge,” continued Bixiou, “a good many puppets are required.  In the first place, Nucingen had purposely and with his eyes open invested his five millions in an American investment, foreseeing that the profits would not come in until it was too late.  The firm of Nucingen deliberately emptied its coffers.  Any liquidation ought to be brought about naturally.  In deposits belonging to private individuals and other investments, the firm possessed about six millions of capital altogether.  Among those private individuals was the Baroness d’Aldrigger with her three hundred thousand francs, Beaudenord with four hundred thousand, d’Aiglemont with a million, Matifat with three hundred thousand, Charles Grandet (who married Mlle. d’Aubrion) with half a million, and so forth, and so forth.

“Now, if Nucingen had himself brought out a joint-stock company, with the shares of which he proposed to indemnify his creditors after more or less ingenious manoeuvring, he might perhaps have been suspected.  He set about it more cunningly than that.  He made some one else put up the machinery that was to play the part of the Mississippi scheme in Law’s system.  Nucingen can make the longest-headed men work out schemes for him without confiding a word to them; it is his peculiar talent.  Nucingen just let fall a hint to du Tillet of the pyramidal, triumphant notion of bringing out a joint-stock enterprise with capital sufficient to pay very high dividends for a time.  Tried for the first time, in days when noodles with capital were plentiful, the plan was pretty sure to end in a run upon the shares, and consequently in a profit for the banker that issued them.  You must remember that this happened in 1826.

“Du Tillet, struck through he was by an idea both pregnant and ingenious, naturally bethought himself that if the enterprise failed, the blame must fall upon somebody.  For which reason, it occurred to him to put forward a figurehead director in charge of his commercial machinery.  At this day you know the secret of the firm of Claparon and Company, founded by du Tillet, one of the finest inventions——­”

“Yes,” said Blondet, “the responsible editor in business matters, the instigator, and scapegoat; but we know better than that nowadays.  We put, ’Apply at the offices of the Company, such and such a number, such and such a street,’ where the public find a staff of clerks in green caps, about as pleasing to behold as broker’s men.”

“Nucingen,” pursued Bixiou, “had supported the firm of Charles Claparon and Company with all his credit.  There were markets in which you might safely put a million francs’ worth of Claparon’s paper.  So du Tillet proposed to bring his firm of Claparon to the fore.  So said, so done.  In 1825 the shareholder was still an unsophisticated being.  There was no such thing as cash lying at call.  Managing directors did not pledge themselves not to put their own shares upon