“What’s this, then?” I asked, rolling my eyes round.

“Hetty, what’s this?” he asked, with his pipe in his hand and his head cocked sideways.

“Naval supremacy and the command of the seas,” said she, like a child repeating a lesson.

“That’s it,” he shouted, stabbing at me with the amber. “Naval supremacy and command of the seas. It’s all here right under your nose. I tell you, Munro, I could go to Switzerland to-morrow, and I could say to them—‘Look here, you haven’t got a seaboard and you haven’t got a port; but just find me a ship, and hoist your flag on it, and I’ll give you every ocean under heaven.’ I’d sweep the seas until there wasn’t a match-box floating on them. Or I could make them over to a limited company, and join the board after allotment. I hold the salt water in the cup of this hand, every drop of it.”

His wife put her hands on his shoulder with admiration in her eyes. I turned to knock out my pipe, and grinned over the grate.

“Oh, you may grin,” said he. (He was wonderfully quick at spotting what you were doing.) “You’ll grin a little wider when you see the dividends coming in. What’s the value of that magnet?”

“A pound?”

“A million pounds. Not a penny under. And dirt cheap to the nation that buys it. I shall let it go at that, though I could make ten times as much if I held on. I shall take it up to the Secretary of the Navy in a week or two; and if he seems to be a civil deserving sort of person I shall do business with him. It’s not every day, Munro, that a man comes into his office with the Atlantic under one arm and the Pacific under the other. Eh, what?”

I knew it would make him savage, but I lay back in my chair and laughed until I was tired. His wife looked at me reproachfully; but he, after a moment of blackness, burst out laughing also, stamping up and down the room and waving his arms.

“Of course it seems absurd to you,” he cried. “Well, I daresay it would to me if any other fellow had worked it out. But you may take my word for it that it’s all right. Hetty here will answer for it. Won’t you, Hetty?”