What does "with it went Makhan's philosophy, glory and all" mean?

Phatik Chakravorti was ringleader among the boys of the village. A new mischief got into his head. There was a heavy log lying on the mud-flat of the river waiting to be shaped into a mast for a boat. He decided that they should all work together to shift the log by main force from its place and roll it away. The owner of the log would be angry and surprised, and they would all enjoy the fun. Every one seconded the proposal, and it was carried unanimously.

But just as the fun was about to begin, Makhan, Phatik's younger brother, sauntered up, and sat down on the log in front of them all without a word. The boys were puzzled for a moment. He was pushed, rather timidly, by one of the boys and told to get up but he remained quite unconcerned. He appeared like a young philosopher meditating on the futility of games. Phatik was furious. "Makhan," he cried, "if you don't get down this minute I'll thrash you!"

Makhan only moved to a more comfortable position.

Now, if Phatik was to keep his regal dignity before the public, it was clear he ought to carry out his threat. But his courage failed him at the crisis. His fertile brain, however, rapidly seized upon a new manoeuvre which would discomfit his brother and afford his followers an added amusement. He gave the word of command to roll the log and Makhan over together. Makhan heard the order, and made it a point of honour to stick on.

The boys began to heave at the log with all their might, calling out, "One, two, three, go," At the word "go" the log went; and with it went Makhan's philosophy, glory and all.