“Well, even two hundred and sixty-six dollars a year, is a good deal for a young man like you to pay, for the pleasure of saying he owns a pearl necklace that he cannot use.”

“But it cost me nothing, sir, and of course I can lose nothing by it.”

“I rather think you will lose what I tell you, if the ornament can be sold for that sum. When a man has property from which he might derive an income, and does not, he is, in one sense, and that the most important, a loser.”

“I have a sister, Major Merton; I may possibly give it to her—or, should I marry, I would certainly give it to my wife.”

I could see a smile struggling about the mouth of the major, which I was then too young, and I may add, too American, to understand. The incongruity of the wife of a man of two thousand, or five and twenty hundred dollars a-year, wearing two years' income round her neck, or of being magnificent in only one item of her dress, household, or manner of living, never occurred to my mind. We can all laugh when we read of Indian chiefs wearing uniform-coats, and cocked-hats, without any other articles of attire; but we cannot imagine inconsistencies in our own cases, that are almost as absurd in the eyes of highly sophisticated and conventional usages. To me, at that age, there was nothing in the least out of the way, in Mrs. Miles Wallingford's wearing the necklace, her husband being unequivocally its owner. As for Emily, she did not smile, but continued to hold the necklace in her own very white, plump hand, the pearls making the hand look all the prettier, while the hand assisted to increase the lustre of the pearls. I ventured to ask her to put the necklace on her neck. She blushed slightly, but she complied.

“Upon my word, Emily,” exclaimed the gratified father, “you become each other so well, that I am losing a prejudice, and begin to believe even a poor man's daughter may be justified in using such an ornament.”

The sight was certainly sufficient to justify anything of the sort. The dazzling whiteness of Miss Merlon's skin, the admirable outlines of her throat and bust, and the flush which pleasure gave her cheeks, contributed largely to the beauty of the picture. It would have been difficult to say, whether the charms of the woman ornamented the pearls, or those of the pearls ornamented the woman! I remember I thought, at the time, my eyes had never dwelt on any object more pleasing, than was Miss Merton during the novelty of that spectacle. Nor did the pleasure cease, on the instant; for I begged her to continue to wear the necklace during the remainder of the day; a request with which she had the good nature to comply. Which was most gratified by this exhibition, the young lady or myself, it might be difficult to say; for there is a mutual satisfaction in admiring, and in being admired.

When I went into the cabin to say good-night, I found Emily Merton, with the necklace in her hand, gazing at it, by the light of a powerful lamp, with eyes as liquid and soft as the pearls themselves. I stood still to admire her; for never before had I seen her so bewitchingly beautiful. Her countenance was usually a little wanting in intellectual expression, though it possessed so much of that which I have described as angelic; but, on this occasion, it seemed to me, to be full of ideas. Can it be possible, whispered conceit—and what very young man is entirely free from it—can it be possible, she is now thinking how happy a woman Mrs. Miles Wallingford will one day be?—Am I in any manner connected with that meditating brow, that reflecting air, that fixed look, that pleased and yet doubting expression?

“I was about to send for you, Captain Wallingford,” said Emily, the instant she saw me, and confirming my conceited conjectures, by blushing deeper than I had seen her before, in the whole of that blushing, sensitive, and enjoyable day; “about to send for you, to take charge of your treasure.”

“And could you not assume that much responsibility, for a single night?”