Jack London - Burning Daylight

"It's all right, old man," he told Hegan every morning; and it was the same cheerful word that he passed out all day long, except at such times when he was in the thick of fighting to have his will with persons and things.

Eight o'clock saw him at his desk each morning. By ten o'clock, it was into the machine and away for a round of the banks. And usually in the machine with him was the ten thousand and more dollars that had been earned by his ferries and railways the day before. This was for the weakest spot in the financial dike. And with one bank president after another similar scenes were enacted. They were paralyzed with fear, and first of all he played his role of the big vital optimist. Times were improving.

Of course they were. The signs were already in the air. All that anybody had to do was to sit tight a little longer and hold on. That was all. Money was already more active in the East. Look at the trading on Wall Street of the last twenty-four hours.

That was the straw that showed the wind. Hadn't Ryan said so and so? and wasn't it reported that Morgan was preparing to do this and that?

As for himself, weren't the street-railway earnings increasing steadily? In spite of the panic, more and more people were coming to Oakland right along. Movements were already beginning in real estate. He was dickering even then to sell over a thousand of his suburban acres. Of course it was at a sacrifice, but it would ease the strain on all of them and bolster up the faint-hearted. That was the trouble—the faint-hearts. Had there been no faint-hearts there would have been no panic. There was that Eastern syndicate, negotiating with him now to take the majority of the stock in the Sierra and Salvador Power Company off his hands. That showed confidence that better times were at hand.

And if it was not cheery discourse, but prayer and entreaty or show down and fight on the part of the banks, Daylight had to counter in kind. If they could bully, he could bully. If the favor he asked were refused, it became the thing he demanded. And when it came down to raw and naked fighting, with the last veil of sentiment or illusion torn off, he could take their breaths away.

But he knew, also, how and when to give in. When he saw the wall shaking and crumbling irretrievably at a particular place, he patched it up with sops of cash from his three cash-earning companies. If the banks went, he went too. It was a case of their having to hold out. If they smashed and all the collateral they held of his was thrown on the chaotic market, it would be the end. And so it was, as the time passed, that on occasion his red motor-car carried, in addition to the daily cash, the most gilt-edged securities he possessed; namely, the Ferry Company, United Water and Consolidated Railways. But he did this reluctantly, fighting inch by inch.

As he told the president of the Merchants San Antonio who made the plea of carrying so many others:—

"They're small fry. Let them smash. I'm the king pin here. You've got more money to make out of me than them. Of course, you're carrying too much, and you've got to choose, that's all. It's root hog or die for you or them. I'm too strong to smash. You could only embarrass me and get yourself tangled up. Your way out is to let the small fry go, and I'll lend you a hand to do it."

And it was Daylight, also, in this time of financial anarchy, who sized up Simon Dolliver's affairs and lent the hand that sent that rival down in utter failure. The Golden Gate National was the keystone of Dolliver's strength, and to the president of that institution Daylight said:—

"Here I've been lending you a hand, and you now in the last ditch, with Dolliver riding on you and me all the time. It don't go. You hear me, it don't go. Dolliver couldn't cough up eleven dollars to save you. Let him get off and walk, and I'll tell you what I'll do. I'll give you the railway nickels for four days—that's forty thousand cash. And on the sixth of the month you can count on twenty thousand more from the Water Company." He shrugged his shoulders. "Take it or leave it. Them's my terms."

"It's dog eat dog, and I ain't overlooking any meat that's floating around," Daylight proclaimed that afternoon to Hegan; and Simon Dolliver went the way of the unfortunate in the Great Panic who were caught with plenty of paper and no money.

Daylight's shifts and devices were amazing. Nothing however large or small, passed his keen sight unobserved. The strain he was under was terrific. He no longer ate lunch. The days were too short, and his noon hours and his office were as crowded as at any other time. By the end of the day he was exhausted, and, as never before, he sought relief behind his wall of alcoholic inhibition. Straight to his hotel he was driven, and straight to his rooms he went, where immediately was mixed for him the first of a series of double Martinis. By dinner, his brain was well clouded and the panic forgotten. By bedtime, with the assistance of Scotch whiskey, he was full—not violently nor uproariously full, nor stupefied, but merely well under the influence of a pleasant and mild anesthetic.

Next morning he awoke with parched lips and mouth, and with sensations of heaviness in his head which quickly passed away. By eight o'clock he was at his desk, buckled down to the fight, by ten o'clock on his personal round of the banks, and after that, without a moment's cessation, till nightfall, he was handling the knotty tangles of industry, finance, and human nature that crowded upon him. And with nightfall it was back to the hotel, the double Martinis and the Scotch; and this was his program day after day until the days ran into weeks.

Though Daylight appeared among his fellows hearty voiced, inexhaustible, spilling over with energy and vitality, deep down he was a very weary man. And sometime under the liquor drug, snatches of wisdom came to him far more lucidity than in his sober moments, as, for instance, one night, when he sat on the edge of the bed with one shoe in his hand and meditated on Dede's aphorism to the effect that he could not sleep in more than one bed at a time. Still holding the shoe, he looked at the array of horsehair bridles on the walls. Then, carrying the shoe, he got up and solemnly counted them, journeying into the two adjoining rooms to complete the tale. Then he came back to the bed and gravely addressed his shoe:—

"The little woman's right. Only one bed at a time. One hundred and forty hair bridles, and nothing doing with ary one of them. One bridle at a time! I can't ride one horse at a time. Poor old Bob. I'd better be sending you out to pasture. Thirty million dollars, and a hundred million or nothing in sight, and what have I got to show for it? There's lots of things money can't buy. It can't buy the little woman. It can't buy capacity. What's the good of thirty millions when I ain't got room for more than a quart of cocktails a day? If I had a hundred-quart-cocktail thirst, it'd be different. But one quart—one measly little quart! Here I am, a thirty times over millionaire, slaving harder every day than any dozen men that work for me, and all I get is two meals that don't taste good, one bed, a quart of Martini, and a hundred and forty hair bridles to look at on the wall."

He stared around at the array disconsolately. "Mr. Shoe, I'm sizzled. Good night."

Far worse than the controlled, steady drinker is the solitary drinker, and it was this that Daylight was developing into. He rarely drank sociably any more, but in his own room, by himself. Returning weary from each day's unremitting effort, he drugged himself to sleep, knowing that on the morrow he would rise up with a dry and burning mouth and repeat the program.

But the country did not recover with its wonted elasticity. Money did not become freer, though the casual reader of Daylight's newspapers, as well as of all the other owned and subsidised newspapers in the country, could only have concluded that the money tightness was over and that the panic was past history. All public utterances were cheery and optimistic, but privately many of the utters were in desperate straits. The scenes enacted in the privacy of Daylight's office, and of the meetings of his boards of directors, would have given the lie to the editorials in his newspapers; as, for instance, when he addressed the big stockholders in the Sierra and Salvador Power Company, the United Water Company, and the several other stock companies:—