vibrating silence. "Yorkburg's fiscal year ending in June in the next
few weeks, the annual budget for the coming twelve months will be fixed
by you. Before this budget is made up I am going to ask you to act upon
three propositions. Last year the total revenue of the town was
$16,907.23, and your expenditures something under one thousand dollars
less than your income. Out of your sinking-fund you retired a large
proportion of your outstanding bonds, with the result that your
indebtedness is now sufficiently small to justify your increasing it. I
am here to-night to ask you to issue, during the next three months,
fifty thousand dollars' worth of city bonds, interest on which is to be
3 per cent., payable semi-annually. If you will agree to do this
promptly, Bartlett, Cramp & Company, of New York, will take the entire
amount at once. At the expiration of twenty years these bonds are to be
retired."

"In the name of glory!"

The words, half smothered, sounded even to the platform, and Mary
Cary, catching them, laughed and nodded toward the source from which
they came.

"Is there anything you wish to say, Mr. Billisoly, before I go on?"

The latter rose to his feet, put his hand to his mouth, coughed, and
looked at Mr. Chinn.

"Yes'm, there is. Fifty thousand dollars is a powerful lot of money to
borrow at one clip, and--"

"Three per cent. interest is powerful little money to pay for its use,"