The Falcon falls into a similar situation: something seemingly mundane hides something of greater worth, but, rather than precious gems, the falcon is just black enamel over a lead statue. In this regard, the Falcon is less like the the Blue Carbuncle or the Black Pearl of the Borgias and more like Jay Gatsby: a facade hiding something less desirable.
Not all modernist fiction is about misdirection, but a major facet of it is writing designed to obfuscate the reader's own ability to read. Without going into too much detail, modern fiction forces us to realize things aren't always as clear and easy as they seem. Perhaps Hemingway and his bleaker narratives about war typified this the most: the world isn't so easy to categorize or understand and the happy endings we want aren't what we get. This wasn't a time for the beauty of romanticism or the idealism of enlightenment thinking, and the jingoism of colonialism that marked so much of Holmes. It was a time for the harsh realities of life and reevaluating what we had believed. A fine beginning for the century to follow, filled with overturned idealisms and the exposure of the failures and brutalities of life and history.
There isn't always a Sherlock Holmes to right all the wrongs we face. They can hide or don't even understand the oppressive systems their reinforce.
We don't all end up well off like Philip “Pip” Pirrip or Oliver Twist or Jane Eyre. It's harder to move up the social ladder, and harder still to have someone else pay for it.
We don't all get to marry our Mr. Darcys. Sometimes their mansions are funded by bootlegging.
And what better way to represent that than with the Maltese Falcon? An item centuries old made of gems and gold, stemming from royalty, but available to whoever is able to get their hands on it? European aristocratic notions of wealth and superiority and status mixed with American opportunism, the desire to rise to power and eminence: to rival the old families who oversaw their ancestors. And once it's in our possession, the years of toil and effort we've invested in it suddenly seem worth it, right up until we scratch at the surface to go beyond the glossy enamel to the dull lead of reality. No shine, no glimmer.
This is where Spade, again, sets himself apart from Gutman, Cairo, and O'Shaugnessey, and, ironically, aligns him with the violent Wilmer Cook. Gutman and Cairo think they can continue their search for the Falcon and O'Shaugnessey thinks she'll be safe with Spade. Spade even confesses he may love her. Their optimism, their preconceived notions of a better tomorrow makes them romantics, not realists. Spade is a realist and Wilmer, certainly when he's made the fall guy, has realism thrust on him.
Spade, like Modernism, has his suspicion that things aren't as pure and as simple as they seem. Not every ending has a silver lining. Instead, they have the dead weight of lead.
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