Berent. You bought it for 10,000.

Tjaelde. Yes, four years ago. Timber prices ruled low then.

Berent. And since then you have cut down more than 20,000 worth of timber there.

Tjaelde. Who told you so?

Berent. Mr. Holst.

Tjaelde. Holst knows nothing about it.

Berent. We must try to be very accurate, you know.

Tjaelde. Well, of course, the whole valuation is not my concern; but those whom it does concern will protest.

Berent (taking no notice of his objection). So I think we will reduce the 16,500 to 10,000.

Tjaelde. To 10,000! (Laughs.) As you please.

Berent. Calculating by the same standard, we can scarcely put down the Stav forest at more than 4000.

Tjaelde. Allow me to say that, if that is the way you are going to make your valuation, everybody in the place will have to go bankrupt!

Berent (with a smile). We will risk that. You have put down your wharf and its contents at 12,000.

Tjaelde. Including two ships in course of construction--

Berent.--for which it would be difficult to find a purchaser, as they are so far from completion.

Tjaelde. Indeed?

Berent. So I think we cannot put down the wharf and its contents at a higher figure than 8,000--and I believe even that will turn out to be too high.

Tjaelde. If you can find me another wharf as well stocked, and with the advantages that this one has, I will buy it whenever you like for 8000; I am certain I should be more than 4000 to the good over the bargain.

Berent. May I go on?

Tjaelde. If you like! I even feel a certain curiosity to view my possessions under such an entirely new light.

Berent. As a matter of fact the items that are too highly valued are just those that comprise this property that you live on--its land, its gardens, its dwelling houses, warehouses, and quays-not to mention the brewery and the factory, which I shall come to later. Even regarded as business premises they seem to me to be over-valued.

Tjaelde. Well?

Berent, Moreover, the luxurious appointments of this house of yours, which would very probably be superfluous for any one else, cannot possibly be counted upon to realise their full value in a sale.

Suppose--as is indeed most likely--that it were a countryman that bought the place?

Tjaelde. You are reckoning me as turned out of it already, then!

Berent. I am obliged to base all my calculations on what the property would fetch if sold now.

Tjaelde (getting up). What may you happen to value it at then?

Berent. At less than half your valuation; that is to say at--

Tjaelde. You must really forgive me if I use an expression which has been on the tip of my tongue for some time: this is scandalous! You force yourself into a man's house, and then, under pretext of asking for his opinion, you practically--on paper--rob him of his possessions!

Berent. I don't understand you. I am trying to arrive at a basis for values hereabouts; and you said yourself, did you not, that it is a matter that does not concern you alone?

Tjaelde. Certainly; but even in jest--if I may be allowed the expression--one does not take the statement that an honourable man has voluntarily offered and treat it as a mendacious doc.u.ment.

Berent. There are many different points of view from which valuations can be made, obviously. I see nothing more in it than that.

Tjaelde. But don't you understand that this is like cutting into my living flesh? Bit by bit, my property has been brought together or created by my own work, and preserved by the most strenuous exertions on my part under terribly trying conditions--it is bound up with my family, with all that is dear to me--it has become a part of my very life!

Berent (with a bow). I understand that perfectly. You have put down the Brewery at--

Tjaelde. No; I refuse to allow you to go on in this way. You must find some one else's property as a basis for your calculations--you must consult some one else, whose idea of business corresponds somewhat closer to your own ridiculous one.

Berent (leaning back in his chair). That is a pity. The banks were anxious to be acquainted with your answers to my observations.

Tjaelde. Have you sent my statement to the banks?

Berent. With my remarks and comments on it, and Mr. Holst's.

Tjaelde. This has been a trap, then? I believed I had to deal with a gentleman!

Berent. The banks or I, what is the difference? It comes to the same thing, as I represent them unreservedly.

Tjaelde. Such impudent audacity is unpardonable!

Berent. I would suggest that we avoid hard words--at all events, for the moment--and rather consider the effect that will be produced by the balance-sheet sent in.

Tjaelde. That some of us will see!

Berent. The banking house of Lind & Co., for instance?

Tjaelde. Do you mean to say that my balance-sheet, ornamented with marginal notes by you and Holst, is to be submitted to Mr. Lind's firm too?

Berent. When the cannon-salutes and noise of your festivities enlightened me as to the situation, I took the liberty of making some inquiries of the banks.

Tjaelde. So you have been spying here, too? You have been trying to undermine my business connections?

Berent. Is your position such, then, that you are afraid?

Tjaelde. The question is not my position, but your behaviour!

Berent. I think we had better keep to the point. You have put down the Brewery at--

Tjaelde. No; your conduct is so absolutely underhanded that, as an honest man, I must refuse all further dealing with you. I am, as I said before, accustomed to have to deal with gentlemen.