Watching his foreign exchange dealers as they stared feverishly at their flickering screens, Thomas came as close as he would ever come to feeling paternal love. They were the sons he had never had. This was during the happiest time of his life, the early to mid 1980s, when Mrs Thatcher had transformed the image of the City and turned the currency speculators into national heroes by describing them as ‘wealth creators’, alchemists who could conjure unimaginable fortunes out of thin air. The fact that these fortunes went straight into their own pockets, or those of their employers, was quietly overlooked. The nation, for a brief, heady period, was in awe of them.

Things were very different when Thomas had first come to work for Stewards: the City was still recovering from the ordeal of the Bank Rate Tribunal which, for two weeks in December 1957, had exposed some of its dealings for the first time to public view. Labour MPs and the popular newspapers had been raising scandalized eyebrows over revelations of multi-million-pound deals being passed through on a nod and a wink in the comfort of gentlemen’s clubs, on Saturday morning golf courses and weekend grouse-shooting parties. Although all of the merchant banks involved had been cleared of the charge of acting upon ‘improperly disclosed’ information about the raising of the Bank Rate, a distinct whiff of scandal lingered in the air, and it remained true that hefty amounts of gilt-edged stock had been unloaded on to the market in the days (and hours) before the Chancellor’s announcement. For Thomas, who had become a director of Stewards in the spring of that year, it had been a bruising initiation: Macmillan may have been proclaiming in Bedford that the economy was strong and the country had ‘never had it so good’, but the foreign speculators thought differently, and embarked upon a fierce campaign of selling sterling short, wiping millions of dollars off the gold reserves and forcing an eventual 2 per cent rise in the Bank Rate (up to 7 per cent, its highest for more than a century).

‘It was what you might call a baptism by fire,’ Thomas had explained to his young cousin Mark, who was employed in a junior capacity at the bank in the summer of 1961. ‘We cleaned up, of course, but to be frank I don’t expect to see another sterling crisis like it during my time at Stewards.’

And yet something similar did take place, on September 16th 1992 (Black Wednesday, as it came to be called), when the currency dealers once again managed to raid the country’s gold reserves to the tune of billions of dollars, and this time force a devaluation of sterling into the bargain. Thomas was right in one respect, however: he never did see it happen. He had lost the use of his eyes by then.

∗

Thomas’s world had always been apprehended entirely through the eyes: this was why (among other things) he never felt any desire to touch or to be touched by women. All great men have their idiosyncracies, and his, unsurprisingly, was a neurotic preoccupation with the quality of his eyesight. A private medicine cabinet in his office contained a vast array of eyewashes, moisturizers, baths and drops, and for thirty years the only fixed item in his timetable was a weekly visit to his ophthalmologist, at nine-thirty every Monday morning. The doctor in question might have found this arrangement trying had not Thomas’s obsession been earning him a ludicrous amount in consultation fees. There wasn’t a single ailment in the textbook which he did not believe to have contracted at some time or another. He fancied that he had arc eye, cat’s eye, pink eye and cystic eye; gas eye, hare eye, hot eye and lazy eye; ox eye, Klieg eye, reduced eye, schematic eye, scotopic eye, aphacic eye, squinting eye and cross eye. Once, after a fact-finding visit to some hop fields, he became convinced that he had hop eye (acute conjunctivitis found in hop-pickers, caused by irritation from the spinal hairs of the hop plant); after a visit to a shipyard, that he had shipyard eye (epidemic keratoconjunctivitis, an infection spread by contaminated fluids in the busy eye casualty stations found at shipyards); and after a visit to Nairobi, that he had Nairobi eye (a severe ocular lesion caused by the secretions of certain vesicating beetles common in Nairobi). On another occasion, when his mother made the mistake of telling him that his grandfather Matthew Winshaw had suffered from a congenital form of glaucoma, he had cancelled all his banking engagements for three days and booked himself a succession of round-the-clock specialist appointments. In turn he was tested for absolute glaucoma, capsular glaucoma, compensated glaucoma, congestive glaucoma, haemorrhagic glaucoma, inflammatory glaucoma, inverse glaucoma, obverse glaucoma, malignant glaucoma, benign glaucoma, open-angle glaucoma, closed-angle glaucoma, postinflammatory glaucoma, preinflammatory glaucoma, infantile glaucoma and myxomatosis. Thomas Winshaw’s eyes were insured (with Stewards’ own insurance company) for a sum variously rumoured to be between £100,000 and £1 million. There was no organ, in other words, which he valued more highly; and that includes the one towards which his right hand could sometimes scarcely stop itself from wandering – most memorably, perhaps, on the day he entertained a surprised but politely speechless Queen and Prince Charles to sherry in his freshly red-carpeted office.

∗

When the Conservative government announced that they were abolishing free eye tests on the NHS in April 1988, Thomas phoned his brother Henry to tell him that they were making a big mistake: there would be a public outcry. Henry told him that he was overreacting. There would be a whimper of protest from the usual quarters, he said, and then it would all quietly die down.

‘And I was right, wasn’t I?’

‘I should have bowed to your political judgment, as always.’

‘Well, it’s quite simple, really.’ Henry leaned forward and threw another log on the fire. It was a cold, dark afternoon in early October 1989, and they were enjoying tea and muffins in one of the Heartland Club’s private rooms. ‘The trick is to keep doing outrageous things. There’s no point in passing some scandalous piece of legislation and then giving everyone time to get worked up about it. You have to get right in there and top it with something even worse, before the public have had a chance to work out what’s hit them. The thing about the British conscience, you see, is that it really has no more capacity than … a primitive home computer, if you like. It can only hold two or three things in its memory at a time.’

Thomas nodded and bit eagerly into his muffin.

‘Unemployment, for instance,’ Henry continued. ‘When was the last time you saw a newspaper headline about unemployment? Nobody gives a hoot any more.’

‘I know: and all this is very reassuring, old boy,’ said Thomas, ‘but what I really want is some concrete guarantee …’

‘Of course you do. Of course.’ Henry frowned and focused his mind upon the matter in hand, which was the case of Farzad Bazoft, a British journalist recently imprisoned in Baghdad on charges of espionage. ‘I understand your point entirely. You and Mark want to protect your investments: I can quite sympathize with that.’

‘Well, it isn’t even just Mark. We’ve got plenty of other clients besides Vanguard who are doing very nicely servicing Saddam and his shopping list. We’re all committed up to our necks, frankly.’

‘You don’t have to remind me.’

‘Yes, but look: this sounds to me like a very delicate situation. This man’s a British subject. Surely this new chap at the Foreign Office – Major, or whatever his name is – is going to come under a bit of pressure to get him released.’

Henry raised his eyebrows in mock innocence. ‘How could he possibly do that?’