The system of the world - By Neal Stephenson Page 0,245

me a rival.”

“If the rumors as to Sir Isaac’s condition are true,” Eliza said, “you or some rival may soon be running the Mint at the Tower. But that is beside the point. Supposing you build the Logic Mill, and it works. Then the value—and I mean value not moral, aesthetic, or spiritual, but oeconomic—of your Institute inheres in the ability to carry out logical and arithmetical work using the cards.”

“Indeed, madame, that is all we can offer.”

“If the cards were foreclosed upon by a creditor, and melted, the information would all be con-fused, the Logic Mill would not do work, and the value we just spoke of would be annihilated.”

“True.”

“It follows that the gold, once wrought into punched cards, becomes a poor form of security indeed, as it cannot be spent, in a monetary sense, without destroying your enterprise.”

“I agree without reservation that the gold cannot secure the loan.”

“Moreover, if I understand the nature of the project, the cards and the machine are to be shipped to the Academy of Sciences in St. Petersburg when they are finished.”

“That is true of the first set.”

“But subsequent ones, supposing you build more, shall become the property of the Marquis of Ravenscar.”

“As currently envisioned, yes.”

“All that I would be left with would be some news that I might use to my advantage in certain markets. This is a sort of game I played to great advantage when I was young, and had nothing to lose, and no one who depended on me. But now I require tangible equity in exchange for my investments. I invest with my head, not my heart.”

“And yet it is plain that you support Dappa, and I have heard that you contribute generously to hospitals for Veterans and Vagabonds.”

“As charities, yes. But it is too late for you to remake your Institute as a charity.”

“Then let me tell you something of the Logic Mill that not even Roger knows,” Daniel sighed.

“You have my attention, Doctor.”

“It will not work.”

“The Logic Mill will not do logic?”

“Oh, yes, of course it will do that. Doing logic with a machine is not so very difficult. Leibniz took it up where Pascal dropped it, and I built upon Leibniz’s work for fifteen years in Boston. Now I have turned it over to a cabal of ingenious fellows who in fifteen weeks have advanced further than I did.”

“Then what do you mean, when you say it will not work?”

“When I returned from Hanover two days ago I devoted some time to reviewing the schemes that the ingénieurs have devised. I am most pleased with the results. But then I discovered a grave difficulty: we want power.”

“Ah, you spoke to me of this in Hanover.”

“Indeed, for then I had begun to suspect what I now know: that the Logic Mill shall require a source of Power, in the newfangled Mechanickal sense of that word, that is both mighty and steady. A very large water-wheel in a great river might serve; but much better would be—”

“The Engine for Raising Water by Fire!”

“If you were to invest in that, madame—and rest assured that it does want investors—you could obtain a controlling interest with little difficulty, thereby satisfying your requirement for Equity. With a new financial wind at his back, Mr. Newcomen could clear certain shoals on which the work has recently run aground, and drive on into open and beckoning seas. Meanwhile, here in London, the Logic Mill project shall arrive at an impasse, because of the dearth of Power. It shall happen soon—less than a year from now. You may then take the matter up with the Tsar, or with the Marquis of Ravenscar, or both; they will bargain with you then, madame, having no other choices.”

Eliza gazed out the windows for some minutes. By now they had run the length of Saffron Hill, and the driver had made a detour to the edge of Clerkenwell Green and up Rag Street so as to spare himself, his horses, and his passengers a disagreeable and perilous transit of Hockley-in-the-Hole, where at this very moment outrages were being committed that would be punished six weeks hence at the next Hanging Day.

They had entered into the extension of Rag Street called Coppice Row, bringing them full circle. Daniel, gazing forward out his window, spied a carriage stopped before Clerkenwell Court. His heart forgot to beat when he recognized it. Matters were about to become more complicated than he’d have liked them to be. He thumped on the roof, and