It would have been instructive to have known what thoughts were passing in the minds of the various members of our party as we men lay in our chairs upon the deck. That the Señorita was really the President's niece I do not, and shall never believe. I have my own reasons for making this statement, and they are fairly conclusive. The President himself was an adventurer of the most determined description. Ferguson was a sea captain and but little better—(he was a married man, so I discovered later, and his wife kept a small girls' school in a village near Plymouth), while I—well, you know all there is to tell so far as I am concerned, so I need say no more on that subject. Taken altogether, however, we were a queer quartette.

At ten o'clock the Señorita declared herself sleepy and retired to her cabin, Ferguson went up to the bridge to see how things were there, while the President and I started to patrol the deck. In the hour that followed I learnt more of his past life than I had ever known before. I knew very well that his career had been an extraordinary one, but I had never dreamt that it had been so strange as his telling made it appear. He was born in a village near Madrid. His parents were poor but of noble birth. In due course he entered the army, but after a time the life of a private soldier disgusted him, and he exchanged the profession of arms for that of an assistant to a sugar planter on the island of St. Vincent. An unfortunate love affair with the planter's daughter threw him upon the world again, penniless. From the island he drifted to the mainland of South America, saw a good deal of Revolutionary fighting, and for the first time tried his hand at the fascinating game of politics. The result was by no means satisfactory, for he had the misfortune to throw in his lot with the losing side. After a certain particularly stubborn battle he was captured and condemned to be shot—a foretaste of the fate he had arranged for me. At the last moment, however, the sentence was commuted to penal servitude for life, and he was sent to the mines. Eventually he was liberated and took service with the man who, up to that time, had been his greatest enemy. He climbed the ladder of fame, and in time he managed to win a fair amount of power in the land; another Revolution, however, cast this power to the winds, and sent him flying post-haste to the islands of the Pacific. In one way and another he enlarged his experience there, saw life as a trader, a pearler, and an agent for the native labour traffic as he euphemistically termed it. At last he found himself on board a schooner returning to Valparaiso. It was then that he first met Silvestre, and for some considerable time the two men were on the most friendly terms. Fernandez, who had been warned as to what was shortly to happen, discovered a post for the time being as a clerk to an auctioneer. Then came the big Revolution—Fernandez chose the winning side, Silvestre the losing. The latter departed to Equinata—which country at that time was just coming into notice—while his friend remained in Chili to derive what profit he could for himself from his loyalty to the party he had assisted into Power.

"As soon as I had saved sufficient money, however," he continued, "I quitted the Republic and, after one or two other adventures with which I will not trouble you, found myself stranded in Equinata. To my astonishment I discovered that my old partner Silvestre had made the best use of his time there, and by an extraordinary manipulation of circumstances had managed to become a person of considerable importance in the Republic. So far as I was concerned, however, there was another hegira, and this time at a somewhat short notice. I next visited the United States, afterwards crossed the Atlantic to Europe, and, after an absence of some three years, found myself once more in La Gloria. When I reached that country I discovered that a strange change had taken place. Silvestre, who, though he had held a position of some importance when I was last in Equinata, had shown no sign of any great ability, was now President, and had even greater ambitions. Needless to say I threw in my lot with him and——"

"Eventually ousted him from his position?" I put in. "I have heard that part of the story from the man himself."

"Yes, I confess I did oust him," he answered, taking his cigar from his mouth and knocking the ash off against the rail. "The victory is to the strongest, and if Silvestre had been stronger than I—well—he would have won. As it was, he fled the country. Whereupon I picked up the reins of Government, played the game as I thought it should be played, and now find myself and all my plans upset, I trust you will forgive my plain speaking, by a man who only a few months ago was chief officer on board a South American mail-boat. Who can say what the next chapter of the story will be?"

"Well, you have had a very good innings, and I don't see that you have any right to complain."

"Perhaps not," he replied. "But don't run away with the idea that, because you've trapped me, I am beaten. I'm a long way off that! Believe me, I know exactly how far you are concerned in the business, and I tell you this, if you are wise, you will be advised by me, and drop out of it as soon as you can. The time will come when Don Guzman de Silvestre and I will have to settle accounts together, and if you are a prudent man you will have balanced your books with him and have departed long before that."

"I think I am very well able to take care of myself," I remarked.

"Ah! We all think that! Sometimes, however, we find we are wrong."

A few moments later he bade me good-night and retired to his cabin. I accompanied him so far as the saloon companion entrance and then returned to my chair on deck. I had not been there many minutes before Ferguson joined me.