In that June there were vexatious strikes in various parts of the country, formidable combinations of laboring-men, demonstrations of trades-unions, and the exhibition of a spirit that sharply called attention to the unequal distribution of wealth.  The discontent was attributed in some quarters to the exhibition of extreme luxury and reckless living by those who had been fortunate.  It was even said that the strikes, unreasonable and futile as they were, and most injurious to those who indulged in them, were indirectly caused by the railway manipulation, in the attempt not only to crush out competition, but to exact excessive revenues on fictitious values.  Resistance to this could be shown to be blind, and the strikers technically in the wrong, yet the impression gained ground that there was something monstrously wrong in the way great fortunes were accumulated, in total disregard of individual rights, and in a materialistic spirit that did not take into account ordinary humanity.  For it was not alone the laboring class that was discontented, but all over the country those who lived upon small invested savings, widows and minors, found their income imperiled by the trickery of rival operators and speculators in railways and securities, who treated the little private accumulations as mere counters in the games they were playing.  The loss of dividends to them was poorly compensated by reflections upon the development of the country, and the advantage to trade of great consolidations, which inured to the benefit of half a dozen insolent men.

In discussing these things in our little parliament we were not altogether unprejudiced, it must be confessed.  For, to say nothing of interests of Mr. Morgan and my own, which seemed in some danger of disappearing for the “public good,” Mrs. Fletcher’s little fortune was nearly all invested in that sound “rock-bed” railway in the Southwest that Mr. Jerry Hollowell had recently taken under his paternal care.  She was assured, indeed, that dividends were only reserved pending some sort of reorganization, which would ultimately be of great benefit to all the parties concerned; but this was much like telling a hungry man that if he would possess his appetite in patience, he would very likely have a splendid dinner next year.  Women are not constituted to understand this sort of reasoning.  It is needless to say that in our general talks on the situation these personalities were not referred to, for although Margaret was silent, it was plain to see that she was uneasy.

Morgan liked to raise questions of casuistry, such as that whether money dishonestly come by could be accepted for good purposes.

“I had this question referred to me the other day,” he said.  “A gambler —­not a petty cheater in cards, but a man who has a splendid establishment in which he has amassed a fortune, a man known for his liberality and good-fellowship and his interest in politics—­offered the president of a leading college a hundred thousand dollars to endow a professorship.  Ought the president to take the money, knowing how it was made?”