One day, some years ago, while strolling through Piccadilly, my attention was attracted by a newspaper clipping posted on the window of a bookshop, which called attention to a holograph volume of Johnson-Dodd letters on exhibition within. I spent several hours in careful examination of it, and, although the price asked was not inconsiderable, it was not high in view of the unusual interest of the volume. I felt that I must own it.
When I am going to be extravagant I always like the encouragement of my wife, and I usually get it. I determined to talk over with her my proposed purchase. Her prophetic instinct in this instance was against it. She reminded me that the business outlook was not good when we left home, and that the reports received since were anything but encouraging. "That amount of money," she said, "may be very useful when you get home." The advice was good; indeed, her arguments were so unanswerable that I determined not to discuss it further, but to buy it anyhow and say nothing. Early the next morning I went back, and to my great disappointment found that some one more forehanded than I had secured the treasure. My regrets for a time were keen, but on my return to this country I found myself in the height of the 1907 panic. Securities seemed almost worthless and actual money unobtainable; then I congratulated my wife on her wisdom, and pointed out what a fine fellow I had been to follow her advice.
Six months later, to my great surprise, the collection was again offered me by a bookseller in New York at a price just fifty per cent in advance of the price I had been asked for it in London. The man who showed it to me was amazed when I told him just when he had bought it and where, and the price he had paid for it. I made a guess that it was ten per cent below the figure at which it had been offered to me. "I am prepared," I said, "to pay you the same price I was originally asked for it in London. You have doubtless shown it to many of your customers and have not found them as foolish in their enthusiasm over Johnson as I am. You have had your chance to make a big profit; why not accept a small one?" There was some discussion; but as I saw my man weakening, my firmness increased, and it finally ended by my handing him a check and carrying off the treasure.