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immense sum of money would be deposited in the Treasury at Washington。
Should the Syndicate be unsuccessful； this sum would be forfeited； and it
would receive no pay for anything it had done。 The sum to be paid by the
Government to the Syndicate； should it bring the war to a satisfactory
conclusion； would depend upon the duration of hostilities。 That is to say；
that as the shorter the duration of the war； the greater would be the benefit
to the country； therefore； the larger must be the pay to the Syndicate。
According to the proposed contract； the Syndicate would receive； if the
war should continue for a year； one…quarter the sum stipulated to be paid if
peace should be declared in three months。 If at any time during the
conduct of the war by the Syndicate an American seaport should be taken
by the enemy； or a British force landed on any point of the seacoast； the
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contract should be considered at an end； and security and payment
forfeited。 If any point on the northern boundary of the United States
should be taken and occupied by the enemy； one million dollars of the
deposited security should be forfeited for every such occupation； but the
contract should continue。 It was stipulated that the land and naval forces of
the United States should remain under the entire control of the
Government； but should be maintained as a defensive force； and not
brought into action unless any failure on the part of the Syndicate should
render such action necessary。 The state of feeling in governmental circles；
and the evidences of alarm and distrust which were becoming apparent in
Congress and among the people； exerted an important influence in favour
of the Syndicate。 The Government caught at its proposition； not as if it
were a straw； but as if it were a life…raft。 The men who offered to relieve
the executive departments of their perilous responsibilities were men of
great ability； prominent positions； and vast resources； whose vast
enterprises had already made them known all over the globe。 Such men
were not likely to jeopardize their reputations and fortunes in a case like
this； unless they had well…founded reasons for believing that they would be
successful。 Even the largest amount stipulated to be paid them in case of
success would be less than the ordinary estimates for the military and
naval operations which had been anticipated； and in case of failure； the
amount forfeited would go far to repair the losses which might be
sustained by the citizens of the various States。 At all events； should the
Syndicate be allowed to take immediate control of the war； there would be
time to put the army and navy； especially the latter； in better condition to
carry on the contest in case of the failure of the Syndicate。 Organization
and construction might still go on； and； should it be necessary； the army
and navy could step into the contest fresh and well prepared。 All branches
of the Government united in accepting the offer of the Syndicate。 The
contract was signed； and the world waited to see what would happen next。
The influence which for years had been exerted by the interests
controlled by the men composing the Syndicate； had its effect in
producing a popular confidence in the power of the members of the
Syndicate to conduct a war as successfully as they had conducted other
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THE GREAT WAR SYNDICATE
gigantic enterprises。 Therefore； although predictions of disaster came from
many quarters； the American public appeared willing to wait with but
moderate impatience for the result of this novel undertaking。 The
Government now proceeded to mass troops at important points on the
northern frontier； forts were supplied with men and armaments； all coast
defences were put in the best possible condition； the navy was stationed at
important ports； and work at the ship… yards went on。 But without
reference to all this； the work of the Syndicate immediately began。 This
body of men were of various politics and of various pursuits in life。 But
politics were no more regarded in the work they had undertaken than they
would have been in the purchase of land or of railroad iron。 No
manifestoes of motives and intentions were issued to the public。 The
Syndicate simply went to work。 There could be no doubt that early success
would be a direct profit to it； but there could also be no doubt that its
success would be a vast benefit and profit； not only to the business
enterprises in which these men were severally engaged； but to the business
of the whole country。 To save the United States from a dragging war； and
to save themselves from the effects of it； were the prompting motives for
the formation of the Syndicate。
Without hesitation； the Syndicate determined that the war in which it
was about to engage should be one of defence by means of offence。 Such a
war must necessarily be quick and effective； and with all the force of their
fortunes； their minds； and their bodies； its members went to work to wage
this war quickly and effectively。
All known inventions and improvements in the art of war had been
thoroughly considered by the Syndicate； and by the eminent specialists
whom it had enlisted in its service。 Certain recently perfected engines of
war； novel in nature； were the exclusive property of the Syndicate。 It was
known； or surmised； in certain quarters that the Syndicate had secured
possession of important warlike inventions； but what they were and how
they acted was a secret carefully guarded and protected。
The first step of the Syndicate was to purchase from the United States
Government ten war…vessels。 These were of medium size and in good
condition； but they were of an old…fashioned type； and it had not been
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THE GREAT