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16 “Loudon,” said he, “I am now giving you a chance that Julius Cæsar could not have given to his son—a chance to see life as it is, before your own turn comes to start in earnest. Avoid rash speculation, try to behave like a gentleman; and if you will take my advice, confine yourself to a safe, conservative business in railroads. Breadstuffs are tempting, but very dangerous; I would not try breadstuffs at your time of life; but you may feel your way a little in other commodities. Take a pride to keep your books posted, and never throw good money after bad. There, my dear boy, kiss me good-by; and never forget that you are an only chick, and that your dad watches your career with fond suspense.”

The commercial college was a fine, roomy establishment, pleasantly situate among woods. The air was healthy, the food excellent, the premium high. Electric wires connected it (to use the words of the prospectus) with “the various world centres.” The reading-room was well supplied with “commercial organs.” The talk was that of Wall Street; and the pupils (from fifty to a hundred lads) were principally engaged in rooking or trying to rook one another for nominal sums in what was called “college paper.” We had class hours, indeed, in the morning, when we studied German, French, book-keeping, and the like goodly matters; but the bulk of our day and the gist of the education centred in the exchange, where we were taught to gamble in produce and securities. Since not one of the participants possessed a bushel of wheat or a dollar's worth of stock, legitimate business was of course impossible from the beginning. It was cold-drawn gambling, without colour or disguise. Just that which is the impediment and destruction of all genuine commercial enterprise, just that we were taught with every luxury of stage effect. Our simulacrum of a market was ruled by the real markets outside, so that we might experience the course and