After I had made up my mind what I intended to do, I went to the bank where we had five thousand pounds lying to our credit, drew out the money, and then began my purchases.  In each case I stipulated that the flour should remain in store one week, until I could get teams to cart it to Ballarat.  To this a ready assent was given, and the merchants expressed themselves pleased to transact business with me.  In some instances I paid cash, especially where the quantity bought was very slight, not amounting to more than fifty barrels, or one hundred sacks; but where I bought two or even three hundred barrels, I claimed the privilege of one month’s credit, after paying twenty per cent. of the amount down.

In two hours I had engaged nearly every barrel and sack of flour in Melbourne, and then, and not till then, did I begin to tremble for the result of my speculation.  A dozen times during the night did I wander through the streets of the city, and down to the water’s edge, for the purpose of seeing how the wind blew, and each time did I find that it was favorable for vessels entering the harbor.  I consulted an aged mariner, with tar plentifully sprinkled upon the seat of his trousers, and the son of Neptune told me, with many grave shakes of his head, that,—­

“You can’t always tell about these things; sometimes the wind blows one way here in this bloody hole, and sometimes it blows different on the ocean.”

The next day I despatched two large teams to Ballarat loaded heavily with flour, and sent a letter by the mail, telling Fred what I had done, and advising him to put the price up, but to first, frighten the merchants by bantering them with offers for their stock.  I knew that that course would startle them into asking at least one third more than they had been demanding, and that a dozen of the most prominent ones would start for Melbourne without a moment’s delay for the purpose of seeing what the movement meant.

CHAPTER LXII.

THE FLOUR SPECULATION.—­MR. CRITCHET’S STORY.

After I had written to Fred, and started the teams, I felt a little easier, although no change had taken place in the market.  I knew that dealers had sent to Sydney for a supply of flour, and I feared that their orders would be filled, but in this I was agreeably mistaken.  Flour at Sydney was ten shillings per barrel higher than at Melbourne, with an upward tendency; while not a sack could be obtained of the few farmers who raised wheat, short of eighty pounds per ton,—­just double what I had paid.

Two days after my bargain, and still no ships were signalized.  I felt a little more confidence in myself, and in the bold scheme that I was attempting to carry out.  A dozen teams were in the city, for the purpose of carrying provisions to Ballarat and other mines, but they were delayed, owing to their inability to get flour.  I heard the price of the article quoted at fifty pounds per ton, and I debated whether I should hold on longer, or sell.