“First I purchased out of my remaining free gold a fine house that happened to be empty. Next I had painted on its front in beautiful and varied colours ‘MAHMOUD’S BANK.’ Next I told the Chief what advantage I designed for him and his during my enforced stay, by way of repaying him for their exceptional kindness. Next I sent out written letters to all the wealthier men (and women, my dear nephews, _and women_), saying that I had begun operations in the buying and selling of market produce and that any capital entrusted to me would earn, for every hundred pieces, one piece a week, payed punctually at a certain hour. To give colour to my scheme I sent my quickest-witted servant (amply rewarded) to watch the markets in the valley, to buy up fruit and grain at magnificent prices and to sell elsewhere as best he could.
“‘Never mind,’ said I to him, benevolently, ‘at what loss you sell. I desire to do these honest people a service.’
“The volume of my commerce grew (at a heavy charge!) and even the timid thought there might be something in it. I started the ball rolling by getting my confidant to deposit a hundred pieces of gold, which I had privily furnished. At the end of the week I duly gave him back one hundred and one in the presence of many; and the story went abroad.
“Soon the Chief, his uncle and his mother-in-law deposited and were as regularly paid one per cent a week. The thing began to buzz--but I watched narrowly my dwindling hoard: it was a close thing!... When I had progressed in this fashion for what I considered a sufficient time, I judged it opportune to initiate my new Policy of An Expansion of Exchange through Instruments of Credit.”
“Dear uncle----” interrupted the eldest nephew.
“Yes, yes,” said the merchant, impatiently, “I know that the term is new to you, but you will shortly learn its meaning. When I had occasion to buy articles for my private consumption or to make an exceptionally heavy purchase of my wholesale wares, I would frequently affect embarrassment, and approaching the vendor I would beg him to accept, in lieu of immediate payment in cash, a note which I had signed promising payment in gold at sight. ‘For,’ said I to him, ‘in the rapid turnover of my business it is but a matter of a few hours for me to be again in possession of a considerable sum of ready money.’