At the next election, Canute was again elected chairman.

But if Lars Hogstad had foreseen what was to follow, he would not
have influenced this. It is a saying that "all events happen in
their time," and just as Canute appeared again in the council, the
ablest men in the parish were threatened with bankruptcy, the
result of a speculative fever which had been raging long, but now
first began to react. They said that Lars Hogstad had caused this
great epidemic, for it was he who had brought the spirit of
speculation into the parish. This penny malady had originated in
the parish board; for this body itself had acted as leading
speculator. Down to the youth of twenty years, all were
endeavoring by sharp bargains to make the one dollar, ten; extreme
parsimony, in order to lay up in the beginning, was followed by an
exceeding lavishness in the end: and as the thoughts of all were
directed to money only, a disposition to selfishness, suspicion,
and disunion had developed itself, which at last turned to
prosecutions and hatred. It was said that the parish board had set
the example in this also; for one of the first acts, performed by
Lars as chairman, was a prosecution against the minister,
concerning doubtful prerogatives. The venerable pastor had lost,
but had also immediately resigned. At the time some had praised,
others denounced, this act of Lars; but it had proved a bad
example. Now came the effects of his management in the form of
loss to all the leading men of the parish; and consequently, the
public opinion quickly changed. The opposite party immediately
found a champion; for Canute Aakre had come into the parish
board,--introduced there by Lars himself.

The struggle at once began. All those youths, who, in their time,