At this period the affairs of Mess Lethierry were in this position:--The Durande had well fulfilled all his expectations. He had paid his debts, repaired his misfortunes, discharged his obligations at Brême, met his acceptances at St. Malo. He had paid off the mortgage upon his house at the Bravées, and had bought up all the little local rent charges upon the property. He was also the proprietor of a great productive capital. This was the Durande herself. The net revenue from the boat was about a thousand pounds sterling per annum, and the traffic was constantly increasing. Strictly speaking, the Durande constituted his entire fortune. She was also the fortune of the island. The carriage of cattle being one of the most profitable portions of her trade, he had been obliged, in order to facilitate the stowage, and the embarking and disembarking of animals, to do away with the luggage-boxes and the two boats. It was, perhaps, imprudent. The Durande had but one boat--namely, her long-boat; but this was an excellent one.

Ten years had elapsed since Rantaine's robbery.

This prosperity of the Durande had its weak point. It inspired no confidence. People regarded it as a risk. Lethierry's good fortune was looked upon as exceptional. He was considered to have gained by a lucky rashness. Some one in the Isle of Wight who had imitated him had not succeeded. The enterprise had ruined the shareholders. The engines, in fact, were badly constructed. But people shook their heads. Innovations have always to contend with the difficulty that few wish them well. The least false step compromises them.

One of the commercial oracles of the Channel Islands, a certain banker from Paris, named Jauge, being consulted upon a steamboat speculation, was reported to have turned his back, with the remark, "An investment is it you propose to me? Exactly; an investment in smoke."

On the other hand, the sailing vessels had no difficulty in finding capitalists to take shares in a venture. Capital, in fact, was obstinately in favour of sails, and as obstinately against boilers and paddle-wheels. At Guernsey, the Durande was indeed a fact, but steam was not yet an established principle. Such is the fanatical spirit of conservatism in opposition to progress. They said of Lethierry, "It is all very well; but he could not do it a second time." Far from encouraging, his example inspired timidity. Nobody would have dared to risk another Durande.