A Dangerous Fortune - Ken Follett [170]
Augusta sat Edward in his father’s chair. Hugh thought that was a bit tactless. Putting him at the head of the table cruelly emphasized how incapable he was of filling his father’s shoes. Joseph had been an erratic leader but he had not been a fool.
However, Augusta had a purpose as always. Toward the end of the meal she said, with her customary abruptness: “There must be a new Senior Partner as soon as possible, and obviously it will be Edward.”
Hugh was horrified. Augusta had always had a blind spot about her son, but all the same this was totally unexpected. He felt sure she could not possibly get her way, but it was unnerving that she should even make the suggestion.
There was a silence, and he realized that everyone was waiting for him to speak. He was regarded by the family as the opposition to Augusta.
He hesitated while he considered how best to handle it. He decided to try for a standoff. “I think the partners should discuss the question tomorrow,” he said.
Augusta was not going to let him off that easily. She said: “I’ll thank you not to tell me what I may and may not discuss in my own house, young Hugh.”
“If you insist.” He collected his thoughts rapidly. “There’s nothing obvious about the decision, although you, dear Aunt, clearly don’t understand the subtleties of the question, perhaps because you have never worked at the bank, or indeed worked at all—”
“How dare you—”
He raised his voice and overrode her. “The oldest surviving partner is Uncle Samuel,” he said. He realized he was sounding too aggressive and he softened his voice again. “I’m sure we would all agree that he would be a wise choice, mature and experienced and highly acceptable to the financial community.”
Uncle Samuel inclined his head in acknowledgment of the compliment but did not say anything.
Nobody contradicted Hugh—but nobody supported him either. He supposed they did not want to antagonize Augusta: the cowards preferred that he do it on their behalf, he thought cynically.
So be it. He went on: “However, Uncle Samuel has declined the honor once before. If he should do so again, the eldest Pilaster would be Young William, who is also widely respected in the City.”
Augusta said impatiently: “It is not the City that has to make the choice—it is the Pilaster family.”
“The Pilaster partners, to be exact,” Hugh corrected her. “But just as the partners need the confidence of the rest of the family, so the bank needs to be trusted by the wider financial community. If we lose that trust we are finished.”
Augusta seemed to be getting angry. “We have the right to choose whom we like!”
Hugh shook his head vigorously. Nothing annoyed him more than this kind of irresponsible talk. “We have no rights, only duties,” he said emphatically. “We’re entrusted with millions of pounds of other people’s money. We can’t do what we like: we have to do what we must.”
Augusta tried another tack. “Edward is the son and heir.”
“It’s not a hereditary title!” Hugh said indignantly. “It goes to the most able.”
It was Augusta’s turn to be indignant. “Edward is as good as anyone!”
Hugh looked around the table, dramatically holding the gaze of each man for a moment before moving on. “Is there anyone here who will put his hand on his heart and say that Edward is the most able banker among us?”
No one spoke for a long minute.
Augusta said: “Edward’s South American bonds have made a fortune for the bank.”
Hugh nodded. “It’s true that we have sold many millions of pounds’ worth of South American bonds in the last ten years, and Edward has handled all that business. But it’s dangerous money. People bought the bonds because they trust Pilasters. If one of those governments should default on interest payments, the price of all South American bonds will go through the floor—and Pilasters will be blamed. Because of Edward’s success in selling South American bonds our reputation, which is our most precious asset, is now in the hands of a set of brutish despots and generals who can’t read.” Hugh found himself becoming emotional as he said this. He had helped to