This matter of the pardon of Cowperwood, the exact time of it, was kept a secret from him, though the fact that he was to be pardoned soon, or that he had a very excellent chance of being, had not been denied — rather had been made much of from time to time. Wingate had kept him accurately informed as to the progress being made, as had Steger; but when it was actually ascertained, from the Governor’s private secretary, that a certain day would see the pardon handed over to them, Steger, Wingate, and Walter Leigh had agreed between themselves that they would say nothing, taking Cowperwood by surprise. They even went so far — that is, Steger and Wingate did — as to indicate to Cowperwood that there was some hitch to the proceedings and that he might not now get out so soon. Cowperwood was somewhat depressed, but properly stoical; he assured himself that he could wait, and that he would be all right sometime. He was rather surprised therefore, one Friday afternoon, to see Wingate, Steger, and Leigh appear at his cell door, accompanied by Warden Desmas.

The warden was quite pleased to think that Cowperwood should finally be going out — he admired him so much — and decided to come along to the cell, to see how he would take his liberation. On the way Desmas commented on the fact that he had always been a model prisoner. “He kept a little garden out there in that yard of his,” he confided to Walter Leigh. “He had violets and pansies and geraniums out there, and they did very well, too.”

Leigh smiled. It was like Cowperwood to be industrious and tasteful, even in prison. Such a man could not be conquered. “A very remarkable man, that,” he remarked to Desmas.

“Very,” replied the warden. “You can tell that by looking at him.”

The four looked in through the barred door where he was working, without being observed, having come up quite silently.

“Hard at it, Frank?” asked Steger.

Cowperwood glanced over his shoulder and got up. He had been thinking, as always these days, of what he would do when he did get out.

“What is this,” he asked —“a political delegation?” He suspected something on the instant. All four smiled cheeringly, and Bonhag unlocked the door for the warden.

“Nothing very much, Frank,” replied Stager, gleefully, “only you’re a free man. You can gather up your traps and come right along, if you wish.”

Cowperwood surveyed his friends with a level gaze. He had not expected this so soon after what had been told him. He was not one to be very much interested in the practical joke or the surprise, but this pleased him — the sudden realization that he was free. Still, he had anticipated it so long that the charm of it had been discounted to a certain extent. He had been unhappy here, and he had not. The shame and humiliation of it, to begin with, had been much. Latterly, as he had become inured to it all, the sense of narrowness and humiliation had worn off. Only the consciousness of incarceration and delay irked him. Barring his intense desire for certain things — success and vindication, principally — he found that he could live in his narrow cell and be fairly comfortable. He had long since become used to the limy smell (used to defeat a more sickening one), and to the numerous rats which he quite regularly trapped. He had learned to take an interest in chair-caning, having become so proficient that he could seat twenty in a day if he chose, and in working in the little garden in spring, summer, and fall. Every evening he had studied the sky from his narrow yard, which resulted curiously in the gift in later years of a great reflecting telescope to a famous university. He had not looked upon himself as an ordinary prisoner, by any means — had not felt himself to be sufficiently punished if a real crime had been involved. From Bonhag he had learned the history of many criminals here incarcerated, from murderers up and down, and many had been pointed out to him from time to time. He had been escorted into the general yard by Bonhag, had seen the general food of the place being prepared, had heard of Stener’s modified life here, and so forth. It had finally struck him that it was not so bad, only that the delay to an individual like himself was wasteful. He could do so much now if he were out and did not have to fight court proceedings. Courts and jails! He shook his head when he thought of the waste involved in them.

“That’s all right,” he said, looking around him in an uncertain way. “I’m ready.”

He stepped out into the hall, with scarcely a farewell glance, and to Bonhag, who was grieving greatly over the loss of so profitable a customer, he said: “I wish you would see that some of these things are sent over to my house, Walter. You’re welcome to the chair, that clock, this mirror, those pictures — all of these things in fact, except my linen, razors, and so forth.”

The last little act of beneficence soothed Bonhag’s lacerated soul a little. They went out into the receiving overseer’s office, where Cowperwood laid aside his prison suit and the soft shirt with a considerable sense of relief. The clog shoes had long since been replaced by a better pair of his own. He put on the derby hat and gray overcoat he had worn the year before, on entering, and expressed himself as ready. At the entrance of the prison he turned and looked back — one last glance — at the iron door leading into the garden.

“You don’t regret leaving that, do you, Frank?” asked Steger, curiously.

“I do not,” replied Cowperwood. “It wasn’t that I was thinking of. It was just the appearance of it, that’s all.”

In another minute they were at the outer gate, where Cowperwood shook the warden finally by the hand. Then entering a carriage outside the large, impressive, Gothic entrance, the gates were locked behind them and they were driven away.

“Well, there’s an end of that, Frank,” observed Steger, gayly; “that will never bother you any more.”

“Yes,” replied Cowperwood. “It’s worse to see it coming than going.”

“It seems to me we ought to celebrate this occasion in some way,” observed Walter Leigh. “It won’t do just to take Frank home. Why don’t we all go down to Green’s? That’s a good idea.”

“I’d rather not, if you don’t mind,” replied Cowperwood, feelingly. “I’ll get together with you all, later. Just now I’d like to go home and change these clothes.”

He was thinking of Aileen and his children and his mother and father and of his whole future. Life was going to broaden out for him considerably from now on, he was sure of it. He had learned so much about taking care of himself in those thirteen months. He was going to see Aileen, and find how she felt about things in general, and then he was going to resume some such duties as he had had in his own concern, with Wingate & Co. He was going to secure a seat on ‘change again, through his friends; and, to escape the effect of the prejudice of those who might not care to do business with an ex-convict, he was going to act as general outside man, and floor man on ‘charge, for Wingate & Co. His practical control of that could not be publicly proved. Now for some important development in the market — some slump or something. He would show the world whether he was a failure or not.

They let him down in front of his wife’s little cottage, and he entered briskly in the gathering gloom.

On September 18, 1873, at twelve-fifteen of a brilliant autumn day, in the city of Philadelphia, one of the most startling financial tragedies that the world has ever seen had its commencement. The banking house of Jay Cooke & Co., the foremost financial organization of America, doing business at Number 114 South Third Street in Philadelphia, and with branches in New York, Washington, and London, closed its doors. Those who know anything about the financial crises of the United States know well the significance of the panic which followed. It is spoken of in all histories as the panic of 1873, and the widespread ruin and disaster which followed was practically unprecedented in American history.

At this time Cowperwood, once more a broker — ostensibly a broker’s agent — was doing business in South Third Street, and representing Wingate & Co. on ‘change. During the six months which had elapsed since he had emerged from the Eastern Penitentiary he had been quietly resuming financial, if not social, relations with those who had known him before.

Furthermore, Wingate & Co. were prospering, and had been for some time, a fact which redounded to his credit with those who knew. Ostensibly he lived with his wife in a small house on North Twenty-first Street. In reality he occupied a bachelor apartment on North Fifteenth Street, to which Aileen occasionally repaired. The difference between himself and his wife had now become a matter of common knowledge in the family, and, although there were some faint efforts made to smooth the matter over, no good resulted. The difficulties of the past two years had so inured his parents to expect the untoward and exceptional that, astonishing as this was, it did not shock them so much as it would have years before. They were too much frightened by life to quarrel with its weird developments. They could only hope and pray for the best.

The Butler family, on the other hand, what there was of it, had become indifferent to Aileen’s conduct. She was ignored by her brothers and Norah, who now knew all; and her mother was so taken up with............