A/N: I got only one guess on the full name of the future Darcy heir. Lizzy herself will disclose it soon. You can then tell me the naming method. How rich were the Bennets? I think the Industrial Revolution was like our own digital revolution. Huge fortunes can be made during times of disruptive technologies. Enjoy this nice long chapter and I appreciate your reviews. Oh, I changed the title of the chapter to the Heiresses of Longbourn instead of the Heiress of Longbourn because all the sisters would inherit large fortunes when Mr. Bennet passed on. Only Lizzy and her husband would have the added responsibility to preserve and grow the estate to benefit future Bennets. This topic will actually be discussed further in future chapters. See, I do read and respond to your reviews quite promptly.
Chapter 38: The Heiresses of Longbourn
Mr. Darcy and Lizzy looked at each other shyly now that they were alone for the first time after their announced engagement even though they were just walking the short distance between the parlour and Mr. Bennet's study. "Any more questions, Elizabeth? We may have enough time for at least a short one."
Elizabeth laughed out loud at Mr. Darcy's teasing and said, "Let us see my father first. After that I believe you will be the one asking questions."
Mr. Bennet bade them to sit down when they entered his bookroom, and leaned back in his chair before he began, "Mr. Darcy, you may be aware of my stipulation that my daughters do not get their dowries if they marry before they are of age at one-and-twenty. Lizzy is eight months to her twenty-first birthday. When do you plan on getting married?"
"Mr. Bennet, on my part, I feel myself the most favoured man on earth just because Miss Elizabeth has agreed to marry me. I am also in a most fortunate position of not needing my future wife's dowry to ensure the continuous prosperity and well-being of my family and my estate. Left to myself, I would like to be married perhaps early in the new year. However, Miss Elizabeth's preference will be mine as well."
"Mr. Darcy, before we ask for Lizzy's preference, would you elaborate on your ability to support a wife and future children? I am of course aware that Pemberley is a grand estate. It has, however, been many years since I last saw it and I would like to be reassured that during the interim years, Pemberley has been under sound management. After all you were still a very young man when you inherited from your excellent father."
Mr. Darcy was somewhat taken aback that Mr. Bennet should doubt him especially after the many discussions about estate management that the two of them shared in this very study. However, his joyful mood had not been even a little diminished, and so he answered matter-of-factly, "Pemberley was steadily growing through the years under my father's able management. The rumour you might have heard about Pemberley's worth of ten thousand pounds a year was true during my father's time as master early on. Since my taking over, it has expanded even further mainly because of my transferring investments in the funds to acquire a number of nearby farms and merged them with Pemberley, and also my focus on the new economy. The Darcy family owns some property which was a part of the dowry from a Wentworth lady who married my great-grandfather. At Lord Rockingham's passing, my uncle Fitzwilliam inherited all his properties bordering on the Darcy land. At my uncle's urging, my father began to develop the coal mines on our land alongside his; today the mines are on a high growth yield trend. In another ten years, they are projected to yield as much as Pemberley, which on its own yielded just under twenty thousand pounds last year. I also have smaller holdings in Scotland and Wales, and a townhouse in London and other real properties in resort towns such as Bath and Ramsgate which I rent out most of the years.
In addition, I have many investments in industries and trade, which I started after my father's passing. My interest in trade was what brought Bingley into my sphere, and through many of his family's connections I have invested, wisely, I hope. In total my income exceeded thirty-eight thousand pounds last year. I have an obligation to provide a dowry of thirty thousand pounds to my sister. Other than that, Pemberley is debt-free. I will settle on Miss Elizabeth a more than sufficient amount to ensure the well-being of her and our children if we are so blessed. Pemberley is not entailed and so we do not need to worry about an unobliging heir in the case of my pre-deceasing Miss Elizabeth and leaving no heirs."
Mr. Bennet did not appear to have any particular reaction to Mr. Darcy's staggering wealth as if he had asked the question only because it was expected of him when interviewing a prospective son-in-law. Instead, he casually observed, "Well, I am well satisfied that Lizzy will be taken care of. Now, Lizzy, what is your preference for a wedding date?"
Elizabeth, on the other hand, was more than a little overwhelmed by all the riches that she would preside over with her future husband. She bravely soldiered on, "If I am to be married, I would also like to be married sooner rather than later." She glanced over to Mr. Darcy and saw a smile that he was trying to suppress. "Mr. Darcy does not seem to need my dowry, but I do not wish to deprive him of what should be rightfully his. Father, if we marry before I turn one-and-twenty, would you give over my dowry to Mr. Darcy when I come of age after I have been married? After all, the deterrent effect on fortune-hunters will still be sound as no fortune-hunter would be willing to wait to access our dowries, as not every suitor of my sisters would have such a large fortune like Mr. Darcy's." She then turned to Mr. Darcy and said, "Mr. Darcy, by now it should not surprise you if I tell you that my father marked you as a future son-in-law not long after he met you."
Mr. Darcy chuckled and turned to Mr. Bennet, "Mr. Bennet, I thank you for your condescension to favour me to be Miss Elizabeth's future husband. If not for your encouragement on my behalf, I was worried during the interrogation earlier that Miss Elizabeth would have urged me to go pursue Miss Bingley instead since her character has been reformed!"
"Mr. Darcy!" Elizabeth exclaimed. Both Mr. Darcy and Mr. Bennet laughed merrily at her scandalized reaction.
"Miss Bingley has been reformed! That is marvelous! Am I right that my Lizzy had a hand in inducing such a miraculous transformation, putting Aristotle's Rhetoric to good use?" asked Mr. Bennet with unreserved pride.
"Indeed, Mr. Bennet. I was fortuitously in the vicinity when Miss Elizabeth skillfully guided Miss Bingley to her way of thinking. Miss Elizabeth will be immeasurably helpful to my sister, who is Miss Lydia's age."
"Splendid! Splendid indeed! I am very glad for Miss Bingley, for she may become a part of our family at some point. As you see, Mr. Darcy, I favour Mr. Bingley for my Jane as well," Mr. Bennet paused, and turned more serious, "All jest aside, Lizzy, I do think that your suggestion is a good one. The reason I instituted the rule of making you wait till you are of age to marry was a practical one: I had substantial wealth," he turned to Mr. Darcy, and said, "but it was not liquid. At the beginning, it was tied up in cotton plantations in Georgia, real estate holdings in New York and some investments in the machinery manufacturing part of the textiles industries in America to be exact. In the past ten years, it was mostly tied up in industries of some kind back here in England. However, the situation has changed since I made the rule. When your Uncle Gardiner," he turned to Elizabeth, and then back to Mr. Darcy to explain, "Mr. Edward Gardiner, known quite widely now for his implementation of interchangeable parts in England in everything from weaponry, ship building to terraced houses came back to England about ten years ago from America, he started GB Enterprise with the proceeds from the sales of some of our assets in America and became very successful especially with his part in building up the war efforts. About three years ago, he began to take on shareholders into GB Enterprise and so my shares in the concern can now be sold for cash. Gardiner told me that I could sell enough shares to raise money for dowry at least for Jane initially, since she was most likely the first to marry. As it turned out, there was no imminent need for dowries because of my parents' illness and passing in those three years. So you see, Mr. Darcy, the only reason I am still qualified as a gentleman with all the wealth I have earned from trade is that I do not have any notion how the wealth has come about."
Mr. Darcy chuckled on hearing that, and said, "I would be quite a tradesman myself by that definition, as quite a significant and incidentally, the fastest-growing portion, of my income comes from trade as well, and I cannot claim ignorance as to how that income is generated."
Mr. Bennet laughed and said, "Well said! I am glad that you will not look down on your future wife's connections. Let me come to the point about Lizzy's dowry. I have settled twenty thousand pounds on each of my five daughters when they marry at age one-and-twenty, or according to the newly established stipulation, when she comes of age after she is married. If she does not marry, she will have the settlement at age eight-and-twenty. As for Lizzy, she is also my heir. At my passing, which I hope will be a long time off yet, she will inherit Longbourn with all its content, and all the Bennet family holdings, which include parcels of land on the outskirts of London, and the dairy operations there, the townhouse, one of three which have been built recently and lastly, at least half of the remaining shares in GB Enterprise here and in America, which have a current value of approximately three hundred thousand pounds after the put-aside for dowries and Mrs. Bennet's juncture should I pre-decease her. My brother Phillips could give you a more accurate number as I have not been prepared for a sudden engagement of my Lizzy.
In the marriage settlement, I would humbly request that the Bennet holdings, which are not to be divided, will be left to one of your children after your demise and not to someone wholly unrelated to the Bennets, and whoever inherits should take on the additional name of Bennet. In the improbable event that you did not have children, then I would wish that you would choose from your nephews or even nieces descended from one of Lizzy's sisters the worthiest one to inherit. In the even more improbable event that none seems appropriate, then perhaps you would consider my brother Peter Bennet's son and offspring if he is willing to come back to England, as the presumptive heir. When I broke the entail, I had already, with my father's blessings, compensated my brother in America who had not had a son then, for the potential loss of the inheritance. He now owns some real properties in Boston, a part of my holdings in America, which are worth more than the part of Longbourn covered by the entail. His wife is an astute businesswoman from a powerful industrial family in Massachusetts. She has no interest in coming to England to be subjected to what she calls 'Old World sensibilities' for women no matter the inducement."
Mr. Darcy was quite astounded by the magnitude of Mr. Bennet's wealth. He had thought that the treasures in the library of Longbourn constituted the valuable part of Mr. Bennet's estate, but never expected anything else. His Lizzy was indeed quite a grand heiress. Elizabeth watched Mr. Darcy closely to see his reactions to this revelation of the wealth of the Bennets', and also to their connection to her Uncle Gardiner, who, though generally regarded as a visionary industrialist and not a tradesman, might still be looked down upon by some holding out on the old prejudice.
"Mr. Bennet, I am humbled not just by the prospect of marrying Miss Elizabeth, a treasure in her own right, but by the responsibilities someday in the distant future, God willing, of being the custodian of such vast holdings. Please be assured that the Bennet name will be perpetuated through our offspring. I have heard of Mr. Gardiner through my trade contacts and my uncle. My uncle, when he was putting together the list of families whom he was to invite to the imminent house party he is to host, told me that he was considering Mr. Gardiner's daughters, but found out that they are only eight and not-yet-two years old."
At this, both Mr. Bennet and Lizzy chuckled, and Lizzy injected, "Emily just turned nine. She is now almost eligible."
It was now Mr. Darcy's turn to chuckle, "You wound me! I am no cradle-robber!" All broke out in gleeful laughter. Mr. Darcy continued, "My uncle also believed that a baronetcy is in the works for Mr. Gardiner, and when the war with Bonaparte comes out victorious for England, Mr. Gardiner will likely be elevated to the peerage. So you see, even my uncle has no qualms about my being potentially associated with a distinguished and highly respected family in their line of trade or industries," Mr. Darcy paused, thinking that his uncle only considered the industrialist families as a last resort after receiving his letter hinting that the group from the peerage and upper gentry might have already been known to him. He decided not to complicate matters by mentioning this and continued with a different subject, "Tell me, Mr. Bennet, does GB Enterprise stand for Great Britain Enterprise, as it is generally believed, or for what I suspect now to be Gardiner–Bennet Enterprise?"
"Mr. Darcy, you are indeed astute. The actual designation is in fact Gardiner-Bennet Enterprise. The whole endeavour started when Gardiner went to America more than twenty years ago. He called it BG Enterprise there in deference to me as I invested half of the start-up funds and he considered me his mentor since Oxford. When he came back, I insisted that since he singlehandedly built the great wealth behind this enterprise, his name should come first. He acquiesced and there we are."
"Mr. Bennet, if it is possible, I would prefer to have Miss Elizabeth's dowry stay as shares with GB Enterprise since I would invest the dowry in any event, and what better investment is there than one with such profitable returns? Is that a possibility?"
"I do not see any hindrance to this scheme as Gardiner now allows investments from selected investors. He already allows Lizzy to invest her pin money- her earnings must be a few hundred pounds by now."
Miss Elizabeth nodded and said, "Six hundred. "
"Well, a veritable heiress!" Mr. Bennet winked at Lizzy and turned back to Mr. Darcy, "I do not see him turning down her future husband. From what I understand, the shares have become quite a coveted commodity. I will discuss with Gardiner. Now then, since we have the wedding date addressed, why do you not go and consult each other to set the date, and then Mr. Darcy, I should expect the marriage settlement to be ready at your earliest convenience. I realize that you still need to go to the Earl's house party. Do take care and not be tempted by another!"
Both Mr. Darcy and Elizabeth protested that such an eventuality would never occur, and Mr. Bennet's eyes were crinkled with mirth. Before he left the room, Mr. Darcy turned and made one more request, "Mr. Bennet, I would like very much to have the opportunity to view your collection of rare books and art. Now that I will imminently be admitted into the family, would you allow that? "
"It would be my pleasure to show them to you. After all, what is a collection for if one cannot show it off? I would say the same about your collection at Pemberley. Lizzy is in truth the curator of the collection. She will be the one to show you anything you would like to see, properly chaperoned of course before you are married."
When Mr. Darcy and Lizzy reached the parlour where the family was gathered, they were surprised by the presence of two young men, Mr. John Lucas, and Mr. Henry Goulding. Both young men were startled to see Mr. Darcy escorting Miss Elizabeth into the room. Mrs. Bennet made the announcement of the betrothal to the visitors, and the young men though gracious in their congratulations, could not hide their disappointment.
Soon after they took their leave, Lizzy turned to Mr. Darcy and said, "I suppose the gossip was started even though there was so much safeguard to prevent my name from being associated with the incident."
Mr. Darcy answered softly back, "It matters not. I would have fought for you!" After a pause, he asked Elizabeth, "If I had been detained somehow, would you have agreed to accept the hand of either of those two gentlemen?"
Without hesitating, Lizzy answered, "No, I would sooner be found on a schooner bound for the New World, although Papa said somewhere in Scotland would do."
Mr. Darcy barked out such a loud laugh that the rest of the room turned their eyes agog on them. Mr. Darcy coloured deeply as he had never known himself to be so indecorous even in the company of intimates. Later, in the guest chamber in the north wing of Longbourn, he laid in bed with his hands behind his head, staring seemingly into nothingness and smiling. He was reflecting on how he could not help but marvel at the fact that ever since his coming to Hertfordshire, he had become such a light-hearted man that he hardly recognized himself. Laughing out loud in company, indeed!
Chapter notes:
1. Mr. Darcy's income was substantially more than in canon. Pemberley in canon was believed by many to be based on Chatsworth, one of the country houses owned by the Duke of Devonshire, who had an income of £100,000 per annum. On the other hand, Jane Austen's brother Edward's income was £15,000 a year and Chawton was nowhere close to Chatsworth in opulence. Granted, the Duke's family had been accumulating wealth for centuries and the Knights (the cousin who adopted JA's brother) had a new fortune from trade. For Mr. Darcy to be able to afford a house similar to Chatsworth, he should have a larger income. Besides, if Mr. Darcy's income was only slightly above average (~£8,000/year) of the peerage and he was not titled, he might not have been considered a top catch for the ladies of the ton even though he was so handsome.
2. Lord Rockingham's name was Charles Wentworth. Earl Fitzwilliam who inherited his estate but not his title was his nephew by marriage, whereas Mr. Darcy would have been the great-grandson of his aunt and so was a distant cousin of Lord Rockingham.
3. Around 1811, there were only a few people from trade in England who were worth over one million pounds, e.g., Richard Arkwright Jr. whose fortune originated from his father's owning and improving mills which he grew further in diversified businesses including banking, William Crawshay, an ironworks owner, a well-known jeweler in London, etc. At the time of this story, GB Enterprise might have been worth over one million pounds but none of the major shareholders had gained that status yet.