The Way We Live Now · Chapter
The Great Railway to Vera Cruz explained
Hamilton K.
What happens
Hamilton K. Fisker arrives in England and meets with Paul Montague in Liverpool to propose a grand railway scheme—the South Central Pacific and Mexican Railway. Fisker then secures an interview with Augustus Melmotte, aiming to get his name on the board of directors. Melmotte agrees to consider the proposal, and within a fortnight, the company is launched with Melmotte as chairman and a directory including Lord Alfred Grendall, Sir Felix Carbury, Samuel Cohenlupe, Lord Nidderdale, and Paul Montague.
Themes in this chapter
Speculation and Ruin
The entire chapter revolves around the speculative railway scheme, with Fisker and Melmotte manipulating stock and public appetite for quick profits, ignoring practical costs.
Deception and Hypocrisy
Fisker's pitch downplays risks and emphasizes the 'game' of speculation; Paul Montague's warning about Melmotte's honesty is dismissed with a wink.
Corruption of Literature and Media
The chapter opens with a reference to The Daily Telegraph being left for amusement, subtly linking media consumption to the world of financial manipulation.
Characters to notice
- Paul Montague
Junior partner in Fisker, Montague, and Montague; meets Fisker in Liverpool and expresses doubts about Melmotte's honesty.
- Hamilton K. Fisker
American partner who proposes the railway scheme; secures Melmotte's interest and becomes a director.
- Augustus Melmotte
Millionaire financier; agrees to consider the railway proposal and becomes chairman of the new company.
- Sir Felix Carbury
Mentioned as a potential director; later listed among the directors of the railway company.
- Lord Alfred Grendall
Listed as a director of the new railway company.
- Mr. Cohenlupe
Listed as a director of the railway company; described as a gentleman of the Jewish persuasion and MP for Staines.
- Lord Nidderdale
Listed as a director of the railway company and also in Parliament.
Key passages
“There is always a want of charity when a man is successful.”
Fisker dismisses Paul's concerns about Melmotte's dishonesty by suggesting that success invites unfair criticism.
Reflects the theme of deception and the moral ambiguity of financial success.
“We take care, sir, in the West not to cripple commerce too closely by old-fashioned bandages.”
Fisker argues that American business practices are less constrained by traditional regulations, allowing for greater commercial freedom.
Highlights the contrast between American and European approaches to speculation and commerce.
“After all, what was wanted from Mr. Melmotte was little more than his name, for the use of which Mr. Fisker proposed that he should receive from the speculative public two or three hundred thousand pounds.”
Fisker's plan is to use Melmotte's reputation to attract investors, with Melmotte profiting handsomely simply by lending his name.
Illustrates the theme of speculation and the hollow nature of financial schemes.