But John Taylor was dead in earnest. He did not smile.

"First, there's England--and all Europe; why not bring them into the
trust?"

"Possibly, later; but first, America. Of course, I've got my eyes on the
European situation and feelers out; but such matters are more difficult
and slower of adjustment over there--so damned much law and gospel."

"But there's another side."

"What's that?"

"You are planning to combine and control the manufacture of cotton--"

"Yes."

"But how about your raw material? The steel trust owns its iron mines."

"Of course--mines could be monopolized and hold the trust up; but our
raw material is perfectly safe--farms growing smaller, farms isolated,
and we fixing the price. It's a cinch."

"Are you sure?" Taylor surveyed him with a narrowed look.

"Certain."

"I'm not. I've been looking up things, and there are three points you'd
better study: First, cotton farms are not getting smaller; they're