The Age of Innocence · Chapter
Chapter XXVII explained
Wall Street reports on Beaufort's situation are hopeful, but a run on his bank begins.
What happens
Wall Street reports on Beaufort's situation are hopeful, but a run on his bank begins. Newland Archer plans to go to Washington to see Ellen Olenska, but learns the lawsuit may be postponed. Mrs. Manson Mingott suffers a stroke after learning of Beaufort's disgrace. The family discusses the scandal and Mrs. Beaufort's role. May writes a telegram summoning Ellen Olenska, and Archer agrees to send it.
Themes in this chapter
Class and Social Hierarchy
The Beaufort scandal threatens the social order; the family debates the proper response, reflecting the rigid codes of old New York.
Hypocrisy and Moral Duality
Society condemns Beaufort's dishonesty but is reluctant to lose his ballroom; Mrs. Beaufort's actions are judged harshly while her husband's private weaknesses are overlooked.
Characters to notice
- Newland Archer
Determined to visit Ellen in Washington; learns of Beaufort's bank failure; goes to Mrs. Mingott's after May's note; agrees to send telegram to Ellen.
- May Welland
Writes to Newland about Granny's stroke; later writes telegram summoning Ellen; mentions Newland's supposed Washington trip.
- Ellen Olenska
Summoned by telegram to come to Mrs. Mingott; May notes she and Newland will cross paths.
- Mrs. Manson Mingott
Suffers a slight stroke after learning of Beaufort's disgrace; insists on telegraphing for Ellen.
- Julius Beaufort
His bank fails; his dastardly manoeuvre to tide over fails; scandal rocks Wall Street.
- Mrs. Julius Beaufort
Appears at Opera with new emerald necklace; her fate discussed; family condemns her for not effacing herself.
Key passages
“Wall Street, the next day, had more reassuring reports of Beaufort’s situation. They were not definite, but they were hopeful.”
The next day on Wall Street, reports about Beaufort's finances were more positive, though still uncertain.
Opening of the chapter, setting the financial context.
“Archer had definitely made up his mind to go to Washington. He was waiting only for the opening of the lawsuit...”
Archer was determined to go to Washington, waiting only for the lawsuit to begin.
Archer's resolve to visit Ellen.
“In consequence, a run on the bank had begun, and its doors were likely to close before the day was over.”
A bank run had started, and the bank would probably close by day's end.
The financial crisis escalates.
“Granny had a slight stroke last night. In some mysterious way she found out before anyone else this awful news about the bank.”
Granny suffered a mild stroke last night after somehow learning the bad bank news before anyone else.
May's note to Archer about Mrs. Mingott's health.
“What a pity that you and Ellen will cross each other on the way!”
It's too bad that you and Ellen will pass each other traveling.
May's remark to Archer, hinting at the coincidence.