[Gutenberg 11063] • A Man of Mark

As a *quid pro quo,* the bank was to lend to the Republic the sum of five hundred thousand dollars, at six percent. The President was at the time floating a loan of one million dollars for the purpose of works at the harbor of Whittingham. . . .

Or so we thought.

"That old scamp's villainy," said the colonel, jerking his thumb toward the Piazza and the statue of the Liberator. "He's very 'cute, but he's made a mistake at last."

"Do come to the point, colonel. What's it all about?"

"Would you be surprised to hear," he said, adopting a famous mode of speech, "that the interest on the debt would not be paid on the 31st?"

"No, I shouldn't," said I resignedly.

"Would you be surprised to hear that no more interest would ever be paid?"

"The devil!" I cried, leaping up. "What do you mean, man?"

"The President," said he calmly, "will, on the 31st instant, *repudiate the national debt!"*