"I understand what a bill is," said Jasper, with a smile.

"Of course," assented the captain, puffing at his cigarette, "Bellamy's name, mind, which was good enough for me."

"And for most people."

"Well, I meant to get some fellow to discount this, get some money for it, you know, but happening to meet Bellamy at the club, it occurred to me that he mightn't like the bill hawked about, so I asked him if he'd take it up. See?"

"Quite. Whether he'd give you the money for it—the hundred and fifty pounds. I see," said Jasper. "Well?"

"Well, I put it rather delicately—there was a lot of fellows about—and he didn't seem to understand me. 'What bill do you mean, old man?' he said. 'I took an oath not to fly any more paper a year ago, and I've kept it, by George!'"

Jasper leant forward slightly; the keen, hard look which comes into the eyes of a hound that suddenly scents game, came into his. But this time he did not speak; as was usual with him when interested, he remained silent.

"Well, I flatter myself I played a cool hand," said the captain, complacently flicking the ash from his cigarette. "I knew the bill was a—a——"

"Forgery," said Jasper, coldly.

The captain nodded gravely.