It isn't true, of course, but the belief that it is leads to the actions that create the Occidental Republic. History is thus the end result of an incalculable number of mistakes.

Symbolically, the loss of the silver at sea would correspond to the utter vanishing of the dream-ideal as a motive in human affairs. In the current general dillusionment this appears to have occurred; moreover, Monygham's caveat emphasizing his own point of view implies that to the cynic, no other possibility could even be entertained.

It is worth restating at this point the symbolism of what has actually happened -- the silver moved safely to the Great Isabel. It is quite true that the dream-ideal has vanished from the town, leaving in its wake a political jostling of equally amoral forces. But the Great Isabel stands for the individual, and the dream-ideal will soon return, hidden in the form of the People's socialist revolt for independent fulfilment.