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The news shots became clichÊs. The heaped earth, the headstone, the smashed coffin, the hint of the contents, the leader of the Opposition coming on to say how all this has happened since his mirror image got elected. The councils argued that they should be given the authority to deal with the problem. They owned the graveyards. And also, they reasoned, the Bonefields. The profits from those fields should rightly go into the public purse. They could help pay for the Health Service. "Let the dead," went their favourite slogan, "pay for the living for a change."

What the local politicians actually meant was that they hoped to claim the land in the name of the public and then make the usual profits privatising it. There was a principle at stake. They had to ensure their friends and not outsiders got the benefit.

The High Court eventually gave the judgement to the public, which really meant turning it over to some of the most rapacious borough councils in our history. A decade or so earlier, that Charlie Peace of elected bodies, the Westminster City Council, had tried to sell their old graveyards to new developers. This current judgement allowed all councils at last to maximise their assets from what was, after all, dead land, completely unable to pay for itself, and therefore a natural target for privatisation. The feeding frenzy began. It was the closest thing to mass cannibalism I've ever seen.

We had opened a fronter in Old Sweden Street and had a couple of halfway presentable slags from Bernie's club taking the calls and answering enquiries. We were straight up about it. We called it The City Bone Exchange. The bloke who decorated it and did the sign specialised in giving offices that longestablished look. He'd created most of those old-fashioned West End Hotels you'd never heard of until 1999. "If it's got a Scottish name," he used to say, "it's one of mine. Americans love the skirl of the pipes, but they trust a bit of brass and varnish best."

Our place was almost all brass and varnish. And it worked a treat. The Ritz and the Savoy sent us their best potential buyers. Incredibly exclusive private hotels gave us taxi-loads of bland-faced American boy-men, reeking of health and beauty products, bellowing their credentials to the wind, rich matrons eager for anyone's approval, massive Germans with aggressive cackles, stern orientals glaring at us, daring us to cheat them. They bought. And they bought. And they bought.

The snoopers kept on snooping but there wasn't really much to find out.

Livingstone International took an aggressive interest in us for a while, but what could they do? We weren't up to anything illegal just selling the stuff and nobody could identify what if anything had been nicked anyway. I still had my misgivings. They weren't anything but superstitions, really.

It did seem sometimes that for every layer of false antiquity, for every act of disneyfication, an inch or two of our real foundations crumbled.

You knew what happened when you did that to a house. Sooner or later you got trouble. Sooner or later you had no house.

We had more than our share of private detectives for a while. They always pretended to be customers and they always looked wrong, even to our girls.

Livingstone International had definitely made a connection. I think they'd found our mine and guessed what a windfall they'd lost. They didn't seem at one with themselves over the matter. They even made veiled threats.

There was some swagger come in to talk about violence but they were spotties who'd got all their language off old nineties TV shows. So we sweated it out and the girls took most of the heat. Those girls really didn't know anything. They were magnificently ignorant. They had tellies with chips which switch channels as soon as they detect a news or information programme.

I've always had a rule. If you're caught by the same wave twice, get out of the water.

While I didn't blame myself for not anticipating the Great Andrew Lloyd Webber Slump, I think I should have guessed what would happen next. The tolerance of the public for bullshit had become decidedly and aggressively negative. It was like the Bone had set new standards of public aspiration as well as beauty. My dad used to say that about the Blitz. Classical music enjoyed a huge success during the Second World War. Everybody grew up at once. The Bone had made it happen again. It was a bit frightening to those of us who had always relied on a nice, passive, gullible, greedy punter for an income.

The bitter fights which had developed over graveyard and Bonefield rights and boundaries, the eagerness with which some borough councils exploited their new resource, the unseemly trade in what was, after all, human remains, the corporate involvement, the incredible profits, the hypocrisies and politics around the Bone brought us the outspoken disgust of Europe. We were used to that. In fact, we tended to cultivate it. But that wasn't the problem.

The problem was that our own public had had enough.

When the elections came round, the voters systematically booted out anyone who had supported the Bone trade. It was like the sudden rise of the anti-slavery vote in Lincoln's America. They demanded an end to the commerce in London Bone. They got the Boneshops closed down. They got work on the Bonefields stopped. They got their graveyards and monuments protected and cleaned up. They got a city which started cultivating peace and security as if it was a cash crop. Which maybe it was. But it hurt me.

It was the end of my easy money, of course. I'll admit I was glad it was stopping. It felt like they were slowing entropy, restoring the past. The quality of life improved. I began to think about letting a few rooms for company.

The mood of the country swung so far into disapproval of the Bone trade that I almost began to fear for my life. Road- and anti-abortion activists switched their attention to Bone merchants. Hampstead was full of screaming lefties convinced they owned the moral highground just because they'd paid off their enormous mortgages. Trudi, after three months, applied for a divorce, arguing that she had not known my business when she married me. She said she was disgusted. She said I'd been living on blood-money. The courts awarded her more than half of what I'd made, but it didn't matter any more. My investments were such that I couldn't stop earning. Economically, I was a small oil-producing nation. I had my own international dialling code. It was horrible in a way. Unless I tried very hard, it looked like I could never be ruined again. There was no justice.

I met Bernie in The King Lyar in Old Sweden Street, a few doors down from our burned out office. I told him what I planned to do and he shrugged.

"We both knew it was dodgy," he told me. "It was dodgy all along, even when we thought it was mastodons. What it feels like to me, Ray, is—it feels like a sort of a massive transformation of the zeitgeist—you know, like Virginia Woolf said about the day human nature changed—something happens slowly and you're not aware of it. Everything seems normal. Then you wake up one morning and—bingo!—it's Nazi Germany or Bolshevik Russia or Thatcherite England or the Golden Age—and all the rules have changed."

"Maybe it was the Bone that did it," I said. "Maybe it was a symbol everyone needed to rally round. You know. A focus."

"Maybe," he said. "Let me know when you're doing it. I'll give you a hand."

About a week later we got the van backed up to the warehouse loading bay.

It was three o'clock in the morning and I was chilled to the marrow.

Working in silence we transferred every scrap of Bone to the van. Then we drove back to Hampstead through a freezing rain.

I don't know why we did it the way we did it. There would have been easier solutions, I suppose. But behind the high walls of my big back garden, under the old trees and etiolated rhododendrons, we dug a pit and filled it with the glowing remains of the ancient dead.

The stuff was almost phosphorescent as we chucked the big lumps of clay back on to it. It glowed a rich amber and that faint, rosemary smell came off it. I can still smell it when I go in there to this day. My soft fruit is out of this world. The whole garden's doing wonderfully now.