"Well now, Ethel," Cecil Mitford went on as gaily as he could, "that brings me up to the second point. I want you to sell out these wretched New Zealands, so as to take the money with me to invest on good mortgages in Jamaica. My experience in West Indian matters—after three years in the Department—will enable me to lay it out for you at nine per cent.—nine per cent., observe, Ethel,—on absolute security of landed property. Planters want money to improve their estates, and can't get it at less than that rate. Your three hundred would bring you in twenty-seven pounds, Ethel; twenty-seven pounds is a lot of money!"

What could poor Ethel do? In his plausible, affectionate manner—and all for her own good, too—Cecil talked her over quickly between love and business experience, coaxing kisses and nine per cent. interest, endearing names and knowledge of West Indian affairs, till helpless little Ethel willingly promised to give up her poor little three hundred, and even arranged to meet Cecil secretly on Thursday at the Bank of England, about Colonial Office dinner-hour, to effect the transfer on her own account, without saying a single word about it to Aunt Emily or Mr. Cartwright. Cecil's conscience—for he had a conscience, though he did his best to stifle it—gave him a bitter twinge every now and then, as one question after another drove him time after time into a fresh bit of deceit; but he tried to smile and smile and be a villain as unconcernedly and lightly as possible. Once only towards the end of the evening, when everything was settled, and Cecil had talked about his passage, and the important business with which he was entrusted, at full length, a gleam of suspicion seemed to flash for a single second across poor Ethel's deluded little brains. Jamaica—promotion—three hundred pounds—it was all so sudden and so connected; could Cecil himself be trying to deceive her, and using her money for his wild treasure hunt? The doubt was horrible, degrading, unworthy of her or him; and yet somehow for a single moment she could not help half-unconsciously entertaining it.

"Cecil," she said, hesitating, and looking into the very depths of his truthful blue eyes; "you're not concealing anything from me, are you? It's not some journey connected with John Cann?"

Cecil coughed and cleared his throat uneasily, but by a great effort he kept his truthful blue eyes still fixed steadily on hers. (He would have given the world if he might have turned them away, but that would have been to throw up the game incontinently.) "My darling Ethel," he said evasively, "how on earth could the Colonial Office have anything to do with John Cann?"

"Answer me 'yes' or 'no,' Cecil. Do please answer me 'yes' or 'no.'"

Cecil kept his eyes still fixed immovably on hers, and without a moment's hesitation answered quickly "no." It was an awful wrench, and his lips could hardly frame the horrid falsehood, but for Ethel's sake he answered "no."

"Then I know I can trust you, Cecil," she said, laying her head for forgiveness on his shoulder. "Oh, how wrong it was of me to doubt you for a second!"

Cecil sighed uneasily, and kissed her white forehead without a single word.

"After all," he thought to himself, as he walked back to his lonely lodgings late that evening, "I need never tell her anything about it. I can pretend, when I've actually got John Cann's treasure, that I came across the clue accidently while I was in Jamaica; and I can lay out three hundred of it there in mortgages; and she need never know a single word about my innocent little deception. But indeed in the pride and delight of so much money, all our own, she'll probably never think at all of her poor little paltry three hundred."

III.