was the last line of the sonnet which he promptly composed after she had lectured him; and then he had settled down into that graceful philosophical friendship with her, which had sent him on the Stock Exchange before three months had elapsed.

It took three months to convince him that she was quite right in her suggestion that instead of spending the best years of his life writing poetry, having nothing to look forward to beyond the perpetual struggle of trying to live within the four hundred pounds a year which represented all his private means, he should endeavour to make a career for himself in some direction where his undoubted gifts of imagination would be appreciated—say the Stock Exchange.

“My dear Arthur,” she had said, “what I fear most for you is the possibility of your making a mercenary marriage. You know as well as I do that it would be ridiculous for you to marry on your present income, and I know your nature sufficiently well to be convinced that you would never be happy so long as you felt that your wife’s fortune was supporting you. Don’t you agree with me?”

He thought that she took too narrow a view of the conditions under which he could be happy; but he thought it better to nod his acquiescence in the flattering estimate which she had formed of his nature.

“I knew you would agree with me,” she said. “And that’s why I urge upon you this step.” (The step she urged upon him was the Stock Exchange Steps.) “You will have to study hard at first, and I believe that you must begin by trusting nobody—especially avoiding every one who wants to be your friend; but by this means you will eventually gain not only a competence—not only complete independence, but such a Fortune as will make you a Power in the world, and then—well, then you can marry any one you please.”

Although the poem which he considered the best that he had ever written was one in praise of a young woman who had remained true to her love for a poet without a penny, in the face of the opposition of her parents who wished her to wed a very rich person in a good paying business, he said he was sure that she was right, and he would give her his promise to buy a twenty-five shilling silk hat the very next day: that being, as he was informed, the first step necessary to be taken by any one with aspirations after financial success.

He had an idea that, after all, he had underrated the practical outlook of the modern young woman. Could it be possible, he asked himself, that after all the penniless poet who wrote on the Petrarchian model, was a less attractive figure in the eyes of a girl—even of a girl who could not be seen by any one without suggesting the thoughts of a flower—perhaps a lily—than the man with a million invested in various excellent securities?

He feared that it was impossible for him to arrive at any other conclusion than this one which was forced upon him; and the worst of the matter was that he found that all his sympathies were on the side of the modern young woman, although he would have died sooner than withdraw a single line of the poem which he had written holding up to admiration the young woman who refused to leave her penniless poet for the man of millions.

He bought a fine silk hat the next day, and forthwith wrote a series of rondeaux bidding farewell to the Muse. He felt that such an act of renunciation on his part demanded celebration on the analogy of the Lenten Carnival. But when his days of riotous indulgence in all the exotic forms of French verse had come to an end, he gave himself up to a consideration of his bank book and found to his amazement that his accumulations including a legacy of two thousand pounds which he had received from the executors of his godmother, amounted to close upon four thousand pounds.

For over two years his account had been increasing, the trustees of the estate of his father (deceased) having been in the habit of lodging the quarterly payments of his income (less expenses) to his credit, and yet he was receiving no penny of interest on all this money.