"As agreed," returned Ned, laconically. "Now, look at me!" and the horse of the vain highwayman sprang from its shelter. So instantaneous were the operations of these experienced tacticians, that Lovett's orders were almost executed in a briefer time than it had cost him to give them.

The carriage being stopped, and the post-boys white and trembling, with two pistols (levelled by Augustus and Pepper) cocked at their heads, Lovett, dismounting, threw open the door of the carriage, and in a very civil tone and with a very bland address accosted the inmate.

"Do not be alarmed, my lord, you are perfectly safe; we only require your watch and purse."

"Really," answered a voice still softer than that of the robber, while a marked and somewhat French countenance, crowned with a fur cap, peered forth at the arrester,—"Really, sir, your request is so modest that I were worse than cruel to refuse you. My purse is not very full, and you may as well have it as one of my rascally duns; but my watch I have a love for, and—"

"I understand you, my lord," interrupted the highwayman. "What do you value your watch at?"

"Humph! to you it may be worth some twenty guineas."

"Allow me to see it!"

"Your curiosity is extremely gratifying," returned the nobleman, as with great reluctance he drew forth a gold repeater, set, as was sometimes the fashion of that day, in precious stones. The highwayman looked slightly at the bauble.

"Your lordship," said he, with great gravity, "was too modest in your calculation; your taste reflects greater credit on you. Allow me to assure you that your watch is worth fifty guinea's to us, at the least. To show you that I think so most sincerely, I will either keep it, and we will say no more on the matter; or I will return it to you upon your word of honour that you will give me a check for fifty guineas payable, by your real bankers, to 'bearer for self.' Take your choice; it is quite immaterial to me!"

"Upon my honour, sir," said the traveller, with some surprise struggling to his features, "your coolness and self-possession are quite admirable. I see you know the world."