"I—I have been given to understand so," said Horace, with a sinking heart—for he had begun to hope that the worst was over.

"But before we adjourn," said his host, "you will let me tempt you to partake of some slight refreshment—just a snack?"

Horace was not hungry, but it occurred to him that he might get through the ceremony with more credit after a glass of champagne; so he accepted the invitation, and was conducted to an extemporised buffet at one end of the Library, where he fortified himself for the impending ordeal with a caviare sandwich and a bumper of the driest champagne in the Corporation cellars.

"They talk of abolishing us," said the Lord Mayor, as he took an anchovy on toast; "but I maintain, Mr. Ventimore—I maintain that we, with our ancient customs, our time-honoured traditions, form a link with the past, which a wise statesman will preserve, if I may employ a somewhat vulgar term, untinkered with."

Horace agreed, remembering a link with a far more ancient past with which he devoutly wished he had refrained from tinkering.

"Talking of ancient customs," the Lord Mayor continued, with an odd blend of pride and apology, "you will shortly have an illustration of our antiquated procedure, which may impress you as quaint."

Horace, feeling absolutely idiotic, murmured that he felt sure it would do that.

"Before presenting you for the freedom, the Prime Warden and five officials of the Candlestick-makers' Company will give their testimony as compurgators in your favour, making oath that you are 'a man of good name and fame,' and that (you will be amused at this, Mr. Ventimore)—that you 'do desire the freedom of this city, whereby to defraud the Queen or the City.' Ha, ha! Curious way of putting it, is it not?"

"Very," said Horace, guiltily, and not a little concerned on the official's account.