Raymond grew milder.

"She's all Estelle thinks her. I have a great admiration for her. She's amazingly clever and refined. In fact, I never saw any girl a patch on her in my life."

"Well then, what follows? Surely she ought to be respected in every way."

"I do respect her."

"Then it's up to you to treat her as you'd treat anybody of your own class, and take care that nothing you do throws any shadow on her. And, of course, you know it. I'm not suggesting for a second you don't. I'm only suggesting that what would be quite all right with a girl in your own set, isn't exactly fair to Sabina—her position in the world being what it is."

It was on Raymond's tongue to declare his engagement; but he did not. He had banished Sabina for that night and the subject irked him. The justice of Waldron's criticism also irked him; but he acknowledged it.

"Thank you," he answered. "It's jolly good of you to say these things, Arthur, because they're not in your line, and I know you hate them. But you're dead right. I dare say I'll tell you something that will astonish you before long. But I'm not doing anything to be ashamed of. I haven't made any mistake; and if I had, I shouldn't shirk the payment."

"You can't, my dear chap. A mistake has always got to be paid for in full—often with interest added. As a sportsman you know that, and it holds all through life in my experience."

"I shan't make one. But if I do, I'm quite prepared to pay the cost."

"We all say that till the bill comes along. Better avoid the mistake, and I'm glad you're going to."