The Financier · Chapter
Chapter XLII explained
The trial of Frank Cowperwood continues as his defense attorney, Steger, argues that Cowperwood is a victim of financial panic and fire, not a criminal.
What happens
The trial of Frank Cowperwood continues as his defense attorney, Steger, argues that Cowperwood is a victim of financial panic and fire, not a criminal. Key witnesses include Arthur Rivers, Cowperwood's brothers, and President Davison of the Girard National Bank, who testifies to Cowperwood's business practices. Cowperwood himself takes the stand, presenting a calm and confident defense, claiming his actions were financially justified. The chapter reveals the divided opinions of the jury, with some leaning toward guilt and others toward acquittal or leniency.
Themes in this chapter
Deception and Self-Justification
Cowperwood's testimony is marked by self-justification and plausible deniability, as he claims ignorance of certain details (e.g., the deposit of city loan certificates) while the narrative suggests he is lying.
Survival and Resilience
Cowperwood's calm and defiant demeanor during the trial, despite the threat of prison, illustrates his resilience and determination to survive the financial and legal crisis.
Characters to notice
- Frank Algernon Cowperwood
Takes the stand in his own defense, presenting a calm and confident demeanor. He argues that his financial actions were justified by the panic and fire, and that he acted within his rights as a banker.
- George W. Stener
Referenced as the ex-city treasurer and former associate of Cowperwood, who turned against him during the financial crisis. His testimony is contrasted with Cowperwood's account.
- Harper Steger
Cowperwood's defense attorney, who presents the case that Cowperwood is a victim of circumstances and cross-examines witnesses to highlight favorable points.
- W. C. Davison
President of the Girard National Bank, testifies to Cowperwood's business practices, including his frequent overdrafts protected by collateral, and states he did not know Cowperwood was going to fail.
- Arthur Rivers
Acted as Cowperwood's special agent on the exchange during the panic; testifies to purchasing large quantities of city loan to stabilize the market.
- Joseph Cowperwood
One of Cowperwood's brothers, testifies to instructions received from Rivers regarding buying and selling city loan during the panic.
Key passages
“He believed in the financial rightness of the thing he had done. He was entitled to do it. Life was war—particularly financial life; and strategy was its keynote, its duty, its necessity.”
Cowperwood felt his actions were financially correct and justified, viewing life as a war where strategy is essential.
Reflects Cowperwood's philosophy of financial warfare and his belief in the righteousness of his actions.
“He had not gone to Mr. Stener in the first place, he said—he had been called. He had not urged Mr. Stener to anything. He had merely shown him and his friends financial possibilities which they were only too eager to seize upon.”
Cowperwood claimed that Stener approached him, not the other way around, and that he only presented opportunities that Stener eagerly accepted.
Cowperwood's defense attempts to shift responsibility onto Stener, portraying himself as a passive provider of opportunities.