Glancing by chance at an advertisement in the Spectator, Stephen Glennard perceives a way to escape the downward spiral his career has taken, begin a new life for himself, and win the hand of the beautiful Alexa Trent. It would seem he has one highly sought-after possession: the letters written to him by the eminent and now deceased author, Margaret Aubyn. All he need do is silence his uneasy conscience and sell the letters for publication.

Exploring the dual themes of money and moral compromise, 'The Touchstone' is an early and extremely accomplished work, foreshadowing m any of Wharton's greatest novels.