While they were talking, Swanson joined them with word that Jerry must have died from heart failure, not from suffocation; no doubt the shock of finding himself cut off had stricken him. But Captain Hollinger and his first mate forgot all else in their amazement at Mart's story of the fight eight fathoms down. In fact, Mart saw plainly that they did not believe him and thought that the descent must have shaken his mind.

With that he pulled off the diving costume, which as yet he had had no chance to remove. When they had helped him out of it, and three or four gold pieces fell to the floor, all incredulity vanished. Bob, Mart and Swanson crowded around the captain, examining the coins with wild excitement.

"Well, I'm bound to say that your story and Jerry's yarns seem to be substantiated, boys!" exclaimed Captain Hollinger. "These seem to be old Spanish or Portuguese coins—they coined them out here then, you know. And here's the date—1632. Yes, they all have the same date. By Jove, Mart, you've made a haul here!"

The boys stood silent, and Swanson pawed over the gold pieces with a flame in his eyes until Captain Hollinger had switched up the electric lights, for the sudden night of the far east had fallen. Then the mate abruptly pushed the coins across the table, and faced the captain, breathing heavily.

"Cap'n Hollinger," he said, with a visible effort, "when you took me on you knew that I'd had a more or less shaky kind o' past, didn't you?"

"Eh?" The captain flung him a keen glance. "What do you mean, Mr. Swanson?"

"Just this, Cap'n. Once, when I was a fool young fellow, I got mixed up wi' old Jerry. He was a trader among the islands then, nothin' short of piracy it was in them days. When he come aboard this yacht, wi' them four men out o' his old crew, I knowed there was trouble brewin'. He finally told me about this here treasure, and how he was a-goin' to take the yacht, and wanted me to join him. I warned him off, Cap'n, and I was fool enough to think he'd take the warnin'. But he didn't. Now that it's come out right, I wanted to get it off'n my conscience, that's all."

Captain Hollinger reached across the table, and gripped Swanson's hand.

"Mr. Swanson," he said, smiling, "I'm proud of you. Your wages are doubled this trip—no, no protests, please! Evidently Jerry led me astray all along, and the only gold in this lagoon was the treasure. Now I think you'd better take the deck, Mr. Swanson."

"Yes, sir," replied Swanson humbly, his eyes gleaming oddly. "And what about them four men on the island, sir?"