of every stock exchange left in the world - as it stood on smokestacks in the red glare of furnaces melting copper - as it stood in scandalous headlines - as it stood on parchment pages recording the nobility of the centuries - as it stood on cards attached to flowers in the boudoirs of women scattered through three continents.
The name was Francisco d'Anconia.
At the age of twenty-three, when he inherited his fortune, Francisco d'Anconia had been famous as the copper king of the world. Now, at thirty-six, he was famous as the richest man and the most spectacularly worthless playboy on earth. He was the last descendant of one of the noblest families of Argentina. He owned cattle ranches, coffee plantations and most of the copper mines of Chile. He owned half of South America and sundry mines scattered through the United States as small change.
When Francisco d'Anconia suddenly bought miles of bare mountains in Mexico, news leaked out that he had discovered vast deposits of copper. He made no effort to sell stock in his venture; the stock was begged out of his hands, and he merely chose those whom he wished to favor from among the applicants. His financial talent was called phenomenal; no one had ever beaten him in any transaction - he added to his incredible fortune with every deal he touched and every step he made, when he took the trouble to make it. Those who censured him most were first to seize the chance of riding on his talent, toward a share of his new wealth. James Taggart, Orren Boyle and their friends were among the heaviest stockholders of the project which Francisco d'Anconia had named the San Sebastian Mines.
Dagny was never able to discover what influences prompted James Taggart to build a railroad branch from Texas into the wilderness of San Sebastian. It seemed likely that he did not know it himself: like a field without a windbreak, he seemed open to any current, and the final sum was made by chance, A few among the Directors of Taggart Transcontinental objected to the project. The company needed all its resources to rebuild the Rio Norte Line; it could not do both. But James Taggart was the road's new president. It was the first year of his administration. He won.
The People's State of Mexico was eager to co-operate, and signed a contract guaranteeing for two hundred years the property right of Taggart Transcontinental to its railroad line in a country where no property rights existed. Francisco d'Anconia had obtained the same guaranty for his mines.
Dagny fought against the building of the San Sebastian Line. She fought by means of whoever would listen to her; but she was only an assistant in the Operating Department, too young, without authority, and nobody listened.
She was unable, then or since, to understand the motives of those who decided to build the line. Sitting as a helpless spectator, a minority member, at one of the Board meetings, she felt a strange evasiveness in the air of the room, in every speech, in every argument, as if the real reason of their decision were never stated, but clear to everyone except herself.
They spoke about the future importance of the trade with Mexico, about a rich stream of freight, about the large revenues assured to the exclusive carrier of an inexhaustible supply of copper. They proved it by citing Francisco d'Anconia's past achievements. They did not mention any mineralogical facts about the San Sebastian Mines. Few facts were available; the information which d'Anconia had released was not very specific; but they did not seem to need facts.
They spoke at great length about the poverty of the Mexicans and their desperate need of railroads, "They've never had a chance." "It is our duty to help an underprivileged nation to develop. A country, it seems to me, is its neighbors' keeper."
She sat, listening, and she thought of the many branch lines which Taggart Transcontinental had had to abandon; the revenues of the great railroad had been falling slowly for many years. She thought of the ominous need of repairs, ominously neglected over the entire system.
Their policy on the problem of maintenance was not a policy but a game they seemed to be playing with a piece of rubber that could be stretched a little, then a little more.
"The Mexicans, it seems to me, are a very diligent people, crushed by their primitive economy. How can they become industrialized if nobody lends them a hand?" "When considering an investment, we should, in my opinion, take a chance on human beings, rather than on purely material factors."
She thought of an engine that lay in a ditch beside the Rio Norte Line, because a splice bar had cracked. She thought of the five days when all traffic was stopped on the Rio Norte Line, because a retaining wall had collapsed, pouring tons of rock across the track.
"Since a man must think of the good of his brothers before he thinks of his own, it seems to me that a nation must think of its neighbors before
it thinks of itself."
She thought of a newcomer called Ellis Wyatt whom people were beginning to watch, because his activity was the first trickle of a torrent of goods about to burst from the dying stretches of Colorado. The Rio Norte Line was being allowed to run its way to a final collapse, just when its fullest efficiency was about to be needed and used.
"Material greed isn't everything. There are non-material ideals to consider." "I confess to a feeling of shame when I think that we own a huge network of railways, while the Mexican people have nothing but one or two inadequate lines." "The old theory of economic self-sufficiency has been exploded long ago. It is impossible for one country to prosper in the midst of a starving world."
She thought that to make Taggart Transcontinental what it had been once, long before her time, every available rail, spike and dollar was needed - and how desperately little of it was available.
They spoke also, at the same session, in the same speeches, about the efficiency of the Mexican government that held complete control of everything. Mexico had a great future, they said, and would become a dangerous competitor in a few years. "Mexico's got discipline," the men of the Board kept saying, with a note of envy in their voices.
James Taggart let it be understood - in unfinished sentences and undefined hints - that his friends in Washington, whom he never named, wished to see a railroad line built in Mexico, that such a line would be of great help in matters of international diplomacy, that the good will of the public opinion of the world would more than repay Taggart Transcontinental for its investment.
They voted to build the San Sebastian Line at a cost of thirty million dollars.
When Dagny left the Board room and walked through the clean, cold air of the streets, she heard two words repeated clearly, insistently in the numbed emptiness of her mind: Get out . . . Get out . . .
Get out.
She listened, aghast. The thought of leaving Taggart Transcontinental did not belong among the things she could hold as conceivable. She felt terror, not at the thought, but at the question of what had made her think it. She shook her head angrily; she told herself that Taggart Transcontinental would now need her more than ever.
Two of the Directors resigned; so did the Vice-President in Charge of Operation. He was replaced by a friend of James Taggart, Steel rail was
laid across the Mexican desert - while orders were issued to reduce the speed of trains on the Rio Norte Line, because the track was shot. A depot of reinforced concrete, with marble columns and mirrors, was built amidst the dust of an unpaved square in a Mexican village - while a train of tank cars carrying oil went hurtling down an embankment and into a blazing junk pile, because a rail had split on the Rio Norte Line. Ellis Wyatt did not wait for the court to decide whether the accident was an act of God, as James Taggart claimed, He transferred the shipping of his oil to the Phoenix-Durango, an obscure railroad which was small and struggling, but struggling well.
This was the rocket that sent the Phoenix-Durango on its way. From then on, it grew, as Wyatt Oil grew, as factories grew in nearby valleys - as a band of rails and ties grew, at the rate of two miles a month, across the scraggly fields of Mexican corn.
Dagny was thirty-two years old, when she told James Taggart that she would resign. She had run the Operating Department for the past three years, without title, credit or authority. She was defeated by loathing for the hours, the days, the nights she had to waste circumventing the interference of Jim's friend who bore the title of Vice-President in Charge of Operation. The man had no policy, and any decision he made was always hers, but he made it only after he had made every effort to make it impossible. What she delivered to her brother was an ultimatum. He gasped, "But, Dagny, you're a woman! A woman as Operating Vice-President? It's unheard of! The Board won't consider it!" "Then I'm through," she answered.
She did not think of what she would do with the rest of her life. To face leaving Taggart Transcontinental was like waiting to have her legs amputated; she thought she would let it happen, then take up the load of whatever was left.
She never understood why the Board of Directors voted unanimously to make her Vice-President in Charge of Operation.
It was she who finally gave them their San Sebastian Line. When she took over, the construction had been under way for three years; one third of its track was laid; the cost to date was beyond the authorized total. She fired Jim's friends and found a contractor who completed the job in one year.
The San Sebastian Line was now in operation. No surge of trade had come across the border, nor any trains loaded with copper. A few carloads came clattering down the mountains from San Sebastian, at long intervals. The mines, said Francisco d'Anconia, were still in the