Northern Consolidated, before Senator Hanway. That candidate for a
Presidency knitted his brows and pondered the business. As with Mr.
Harley and the pirate five, the mad grandeur of the idea charmed him.
One element seemed plain: there could come no loss from the raid on
Northern Consolidated. He might go that far with safety, and a certainty
of profit; for in the Senate committee of investigation he, himself,
would play the controlling card.

"The proposal," said Senator Hanway, when he and Mr. Harley conferred,
"while gigantic in its unfoldment, seems a reasonable one. After all, it
is the amount involved that staggers rather than what obstacles must be
overcome. Taken piecemeal, I do not say that the entire scheme, even
Credit Magellan, with its thirty billions, may not work through. The
resolution naming a committee to look into the claims and charges
against Northern Securities ought to help my Presidential canvass. It
cannot avoid telling in my favor with thoughtful men. They will see that
I am one who is jealously guarding public interests."

"And the resolution," suggested Mr. Harley, "appointing a commission for
the Canadian Canal, and inviting the Ottawa government to do the same,
ought also to speak in your favor. Consider what an impetus such a
waterway would give our Northwestern commerce."

"Yes," replied Senator Hanway, "I think you are right. It will knock a
third off freight rates on much of the trade between the oceans, and
save heavily in time. Those subsidies, however, must go over until next
session. Subsidies are not popular, and these must be left until after
next November's elections. Then, of course, they may be safely taken
up."