Wholly unprepared for the ruin that stared him in the face, the young Marquis evinced the natural strength of his character by the calmness with which he met the danger, and the intelligence with which he calculated and reduced it.
By the help of the family notary in the neighbouring town, he made himself master of his liabilities and his means; and he found that, after paying all debts and providing for the interest of the mortgages, a property which ought to have realized a rental of L10,000 a year yielded not more than L400. Nor was even this margin safe, nor the property out of peril; for the principal mortgagee, who was a capitalist in Paris named Louvier, having had during the life of the late Marquis more than once to wait for his half-yearly interest longer than suited his patience,--and his patience was not enduring,--plainly declared that if the same delay recurred he should put his right of seizure in force; and in France still more than in England, bad seasons seriously affect the security of rents. To pay away L9,600 a year regularly out of L10,000, with the penalty of forfeiting the whole if not paid,--whether crops may fail, farmers procrastinate, and timber fall in price,--is to live with the sword of Damocles over one’s head.
For two years and more, however, Alain met his difficulties with prudence and vigour; he retrenched the establishment hitherto kept at the chateau, resigned such rural pleasures as he had been accustomed to indulge, and lived like one of his petty farmers. But the risks of the future remained undiminished.
“There is but one way, Monsieur le Marquis,” said the family notary, M. Hebert, “by which you can put your estate in comparative safety. Your father raised his mortgages from time to time, as he wanted money, and often at interest above the average market interest. You may add considerably to your income by consolidating all these mortgages into one at a lower percentage, and in so doing pay off this formidable mortgagee, M. Louvier, who, I shrewdly suspect, is bent upon becoming the proprietor of Rochebriant. Unfortunately those few portions of your land which were but lightly charged, and, lying contiguous to small proprietors, were coveted by them, and could be advantageously sold, are already gone to pay the debts of Monsieur the late Marquis. There are, however, two small farms which, bordering close on the town of S______, I think I could dispose of for building purposes at high rates; but these lands are covered by M. Louvier’s general mortgage, and he has refused to release them, unless the whole debt be paid. Were that debt therefore transferred to another mortgagee, we might stipulate for their exception, and in so doing secure a sum of more than 100,000 francs, which you could keep in reserve for a pressing or unforeseen occasion, and make the nucleus of a capital devoted to the gradual liquidation of the charges on the estate. For with a little capital, Monsieur le Marquis, your rent-roll might be very greatly increased, the forests and orchards improved, those meadows round S_____ drained and irrigated. Agriculture is beginning to be understood in Bretagne, and your estate would soon double its value in the hands of a spirited capitalist. My advice to you, therefore, is to go to Paris, employ a good ‘avoue,’ practised in such branch of his profession, to negotiate the consolidation of your mortgages upon terms that will enable you to sell outlying portions, and so pay off the charge by instalments agreed upon; to see if some safe company or rich individual can be found to undertake for a term of years the management of your forests, the draining of the S_____ meadows, the superintendence of your fisheries, etc. They, it is true, will monopolize the profits for many years,--perhaps twenty; but you are a young man: at the end of that time you will reenter on your estate with a rental so improved that the mortgages, now so awful, will seem to you comparatively trivial.”