In the first place, recalling many similar instances under his own observation, Denis opined that the money must have been hidden up for his guest, long ago, by his great grandmother, in a stocking, and forgotten! Next, that the Prussian Government, having heard of the mare's performances at Punchestown, had bought her for breeding purposes, at such a sum as they considered her marketable value. And, lastly (standing the more stoutly by this theory, for the failure of its predecessors), that the whole amount had been subscribed under a general vote of the Kildare Street Club, in testimony of their admiration for Daisy's bold riding and straightforward conduct as a sportsman!

Leaving him perfectly satisfied with this explanation, Daisy bade his host an affectionate farewell, and started without delay for London, previously telegraphing to his comrade at Kensington certain information and instructions for his guidance. Warped in its transmission by an imaginative clerk in a hurry, we have seen how this message confused and distracted the honest perceptions of its recipient.

That young officer was sitting down to breakfast, with Venus under his chair, while Benjamin, the badger, poked a cautious nose out of his stronghold in the wardrobe, when the hasty retreat of one animal, and formidable growlings of the other, announced a strange step on the stairs. Immediately Daisy rushed into the room, vociferated for Barney to look after his "traps" and pay the cab, seized a hot plate, wagged his head at his host, and began breakfast without further ceremony.

"Seem peckish, young man," observed Bill, contemplating his friend with extreme satisfaction. "Sick as a fool last night, no doubt, and sharp-set this morning in consequence. Go in for a cutlet, my boy. Another kidney, then. That's right. Have a suck of the lemon, and at him again!"

Munching steadily, Daisy repudiated the imputation of sea-sickness, with the scorn of a practised mariner. "It seems to me that I live on that Channel," said he, "like a ship's-steward, Bill, or a horse-marine! Well, I've done with it now, I hope, for some time. How jolly it is to feel straight again! It's like your horse getting up, when he's been on his head, without giving the crowner you deserve. It was touch-and-go this time, old chap. I say, you got my telegram?"

Bill laughed. "I did, indeed!" he answered; "and a nice mull they made. Read it for yourself."

Thus speaking, he tossed across the breakfast-table that singular communication which his unassisted ingenuity had so failed to comprehend.

Daisy perused it with no little astonishment. "The fools!" he exclaimed. "Why, Bill, you must have thought I'd gone mad."

"We did," replied Bill gravely. "Stark staring, my boy. We said we always had considered you 'a hatter,' but not so bad as this."