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smooth vertical sides seemed to them to defy everything but wings.

Winding across the sage-covered floor of Jackson's Hole runs the Shoshone, or Snake River, which takes its rise from Jackson's Lake at the northern end of the basin, and then, as if shrinking from the threatening brows of the Tetons, whose fall would block its progress, makes a detour of one hundred miles around the buttressed heights of the range before it finds a clear way across Idaho, and so on to the Columbia River and the Pacific Ocean.

On a July morning, about a month after the visit of Dr. Max Syx to the assembled financiers in New York, a party of twenty horsemen, following a mountain-trail, arrived on the eastern margin of Jackson's Hole, and pausing upon a commanding eminence, with exclamations of wonder, glanced across the great depression, where lay the shining coils of the Snake River, at the towering forms of the Tetons, whose ice-striped cliffs flashed lightnings in the sunshine. Even the impassive broncos that the party rode lifted their heads inquiringly, and snorted as if in equine astonishment at the magnificent spectacle.

One familiar with the place would have noticed something, which, to his mind, would have seemed more surprising than the pageantry of the mountains in their morning sun-bath. Curling above one of the wild gorges that cut the lower slopes of the Tetons was a thick black smoke, which, when lifted by a passing breeze, obscured the precipices half-way to the summit of the peak.

Had the Grand Teton become a volcano? Certainly no hunting or exploring party could make a smoke like that. But a word from the leader of the party of horsemen explained the mystery.

"There is my mill, and the mine is underneath it."

The speaker was Dr. Syx, and his companions were members of the financial congress. When he quitted their presence in New York, with the promise to return within an hour for their reply, he had no doubt in his own mind what that reply would be. He knew they would accept his proposition, and they did. No time was then lost in communicating with the various governments, and arrangements were quickly perfected whereby, in case the inspection of Dr. Syx's mine and its resources proved satisfactory, America and Europe should unite in adopting the new metal as the basis of their coinage. As soon as this stage in the negotiations was reached, it only remained to send a committee of financiers and metallurgists, in company with Dr. Syx, to the Rocky Mountains. They started under the doctor's guidance, completing the last stage of their journey on horseback.

"An inspection of the records at Washington," Dr. Syx continued, addressing the horsemen, "will show that I have filed a claim covering ten acres of ground around the mouth of my mine. This was done as soon as I had discovered the metal. The filing of the claim and the subsequent proceedings which perfected my ownership attracted no attention, because everybody was thinking of the south pole and its gold-fields."

The party gathered closer around Dr. Syx and listened to his words with silent attention, while their horses rubbed noses and jingled their gold-mounted trappings.

"As soon as I had legally protected myself," he continued, "I employed a force of men, transported my machinery and material across the mountains, erected my furnaces, and opened the mine. I was safe from intrusion, and even from idle curiosity, for the reason I have just mentioned. In fact, so exclusive was the attraction of the new gold-fields that I had difficulty in obtaining workmen, and finally I sent to Africa and engaged negroes, whom I placed in charge of trustworthy foremen. Accordingly, with half a dozen exceptions, you will see only black men at the mine."

"And with their aid you have mined enough metal to supply the mints of the world?" asked President Boon.

"Exactly so," was the reply. "But I no longer employ the large force which I needed at first."

"How much metal have you on hand? I am aware that you have already answered this question during our preliminary negotiations, but I ask it again for the benefit of some members of our party who were not present then."

"I shall show you to-day," said Dr. Syx, with his curious smile, "2500 tons of refined artemisium, stacked in rock-cut vaults under the Grand Teton."

"And you have dared to collect such inconceivable wealth in one place?"

"You forget that it is not wealth until the people have learned to value it, and the governments have put their stamp upon it."

"True, but how did you arrive at the proper moment?"

"Easily. I first ascertained that before the Antarctic discoveries the world contained altogether about 16,000 tons of gold, valued at $450,000 per ton, or $7,200,000,000 worth all told. Now my metal weighs, bulk for bulk, one-quarter as much as gold. It might be reckoned at the same intrinsic value per ton, but I have considered it preferable to take advantage of the smaller weight of the new metal, which permits us to make coins of the same size as the old ones, but only one-quarter as heavy, by giving to artemisium four times the value per ton that gold had. Thus only 4000 tons of the new metal are required to supply the place of the 16,000 tons of gold. The 2500 tons which I already have on hand are more than enough for coinage. The rest I can supply as fast as needed."

The party did not wait for further explanations. They were eager to see the wonderful mine and the store of treasure. Spurs were applied, and they galloped down the steep trail, forded the Snake River, and, skirting the shore of Jenny's Lake, soon found themselves gazing up the headlong slopes and dizzy parapets of the Grand Teton. Dr. Syx led them by a steep ascent to the mouth of the canyon, above one of whose walls stood his mill, and where the "Champ! Champ!" of a powerful engine saluted their ears.


IV

THE WEALTH OF THE WORLD

An electric light shot its penetrating rays into a gallery cut through virgin rock and running straight towards the heart of the Teton. The centre of the gallery was occupied by a narrow railway, on which a few flat cars, propelled by electric power, passed to and fro. Black-skinned and silent workmen rode on the cars, both when they came laden with broken masses of rock from the farther end of the tunnel and when they returned empty.

Suddenly, to an eye situated a little way within the gallery, appeared at the entrance the dark face of Dr. Syx, wearing its most discomposing smile, and a moment later the broader countenance of President Boon loomed in the electric glare beside the doctor's black framework of eyebrows and mustache. Behind them were grouped the other visiting financiers.

"This tunnel," said Dr. Syx, "leads to the mine head, where the ore-bearing rock is blasted."

As he spoke a hollow roar issued from the depths of the mountain, followed in a short time by a gust of foul air.

"You probably will not care to go in there," said the doctor, "and, in fact, it is very uncomfortable. But we shall follow the next car-load to the smelter, and you can witness the reduction of the ore."

Accordingly when another car came rumbling out of the tunnel, with its load of cracked rock, they all accompanied it into an adjoining apartment, where it was cast into a metallic shute, through which, they were informed, it reached the furnace.

"While it is melting," explained Dr. Syx, "certain elements, the nature of which I must beg to keep secret, are mixed with the ore, causing chemical action which results in the extraction of the metal. Now let me show you pure artemisium issuing from the furnace."

He led the visitors through two apartments into a third, one side of which was walled by the front of a furnace. From this projected two or three small spouts, and iridescent streams of molten metal fell from the spouts into earthen receptacles from which the blazing liquid was led, like flowing iron, into a system of molds, where it was allowed to cool and harden.

The financiers looked on wondering, and their astonishment grew when they were conducted into the rock-cut store-rooms beneath, where they saw metallic ingots glowing like gigantic opals in the light which Dr. Syx turned on. They were piled in rows along the walls as high as a man could reach. A very brief inspection sufficed to convince the visitors that Dr. Syx was able to perform all that he promised. Although they had not penetrated the secret of his process of reducing the ore, yet they had seen the metal flowing from the furnace, and the piles of ingots proved conclusively that he had uttered no vain boast when he said he could give the world a new coinage.

But President Boon, being himself a metallurgist, desired to inspect the mysterious ore a little more closely. Possibly he was thinking that if another mine was destined to be discovered he might as well be the discoverer as anybody. Dr. Syx attempted no concealment, but his smile became more than usually scornful as he stopped a laden car and invited the visitors to help themselves.

"I think," he said, "that I have struck the only lode of this ore in the Teton, or possibly in this part of the world, but I don't know for certain. There may be plenty of it only waiting to be found. That, however, doesn't trouble me. The great point is that nobody except myself knows how to extract the metal."

Mr. Boon closely examined the chunk of rock which he had taken from the car. Then he pulled a lens from his pocket, with a deprecatory glance at Dr. Syx.

"Oh, that's all right," said the latter, with a laugh, the first that these gentlemen had ever heard from his lips, and it almost made them shudder; "put it to every test, examine it with the microscope, with fire, with electricity, with the spectroscope - in every way you can think of! I assure you it is worth your while!"

Again Dr. Syx uttered his freezing laugh, passing into the familiar smile, which had now become an undisguised mock.

"Upon my word," said Mr. Boon, taking his eye from the lens, "I see no sign of any metal here!"

"Look at the green specks!" cried the doctor, snatching the specimen from the president's hand. "That's it! That's artemisium! But it's of no use unless you can get it out and purify it, which is my secret!"

For the third time Dr. Syx laughed, and his merriment affected the visitors so disagreeably that they showed impatience to be gone. Immediately he changed his manner.

"Come into my office," he said, with a return to the graciousness which had characterized him ever since the party started from New York.

When they were all seated, and the doctor had handed round a box of cigars, he resumed the conversation in his most amiable manner.

"You see, gentlemen," he said, turning a piece of ore in his fingers, "artemisium is like aluminum. It can only be obtained in the metallic form by a special process. While these greenish particles, which you may perhaps mistake for chrysolite, or some similar unisilicate, really contain the precious metal, they are not entirely composed of it. The process by which I separate out the metallic element while the ore is passing through the furnace is, in truth, quite simple,
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