…It was the living face of Adam Smith. He knew it from that irritating Institute that bore the name. It seemed to emerge, ethereally, from his wallet, and hover before him, a ghostly wig upon its ghostly forehead. But then, as Splurge looked fixedly at this phenomenon, it was a banknote again. To say that he was not startled, or that his blood was not conscious of a terrible self-doubt to which it had been a stranger from infancy, would be untrue. And though he never took out his own wallet much, it seemed perfectly restored to normality. So he said “Bah! Humbug!” and closed the door with a bang that echoed through the whole lavish apartment.
Lounge, billiards room, private cinema, ensuite bedroom and dressing room. All as they should be. Nobody under the Chippendale sofa or behind the Picassos. An indulgent blaze in the grate. Yet the image of Adam Smith preyed on his mind.
“Humbug!” said Splurge, mentally attributing the apparition to the surfeit of over-ripe Stilton and over-rich port that he had enjoyed at lunch in Claridges. His colour changed, though, when without a pause, the apparition came through the heavy door, and passed into the room before his eyes.
Its body was transparent; so that Splurge, observing him, and looking through his waistcoat, could see the two buttons on his coat behind.
Though he looked the phantom through and through, and saw it standing before him; though he felt the chilling influence of its death-cold economic logic; he was still incredulous. “What do you want from me?”
“Less,” said the spectre. “Much less. Less spending and less bureaucracy. For I created the wealth that you are now squandering.” It raised a cry and rattled the heavy chain that it was carrying.
“You don’t believe in me,” observed the Ghost.
“I don’t,” said Splurge. “Your stony old economics was completely dispelled by the Keynesian revolution.”
“You must,” replied the spirit. “These heavy chains are not mine, but yours. Every politician is doomed to limp through history, loaded down by the weight of the national debt and the burden of regulation that he forged in life. And your chains will be heavier than anyone’s.” It shook the chains and wrung its shadowy hands.
Splurge fell upon his knees, and clasped his hands before his face. “Adam,” said Splurge imploringly. “Speak comfort to me.”
“You will be haunted,” resumed the ghost, “by three spirits.” Expect the first tonight, as the bell tolls One.”
The spirit beckoned Splurge to the window. The air was filled with phantoms – many of them, he could see, former ministers from his own party – wailing under the weight of their own spending promises.
But being, from the emotion he had undergone, or the high-spending fatigues of the day, in much need of repose, he fell asleep upon the instant.