'How has it been that of late so little has been paid into my bank account,' said Jerry, 'and that I have had such difficulty in squaring matters at Aldershot; even in meeting my losses on the last Divisional Steeplechase, and in many other things; that in fact both the mater and myself are often short of the "ready"?'

'The estate, you are aware, was heavily mortgaged by your late worthy father.'

'I have heard that a hundred times, and know it to my cost,' replied Jerry, impatiently.

'And since you joined the army you must also be aware that, to meet the many requirements of yourself and Lady Julia, I have had to effect other mortgages, for instance, on Langley Park (which my forefathers farmed under yours for more than two centuries), on the forty acres of Upton Stoke, and on Hazelwood; that, in short, all these may never be yours again, as I see no way of your removing these encumbrances, save by a wealthy marriage; and that the good lady, your mother, has not the slightest idea of the extent of the evil and all your liabilities.'

'The devil!' exclaimed Jerry, 'these are pleasant things to listen to.'

There was a silence between them for a time, and Jerry took a long sip at his brandy and seltzer. With all his admiration and certainly growing love for the handsome Bella, she seemed to be receding from him in the distance now.

'I am deeply sorry to tell you these things, Mr. Wilmot,' said Chevenix, who had genuine respect and love for the listener, and really had the well-being of the old family at heart; 'it is a serious thing for a young man like you, the inheritor of a good old name, bred with expensive tastes and so forth, to find yourself hampered and trammelled thus at your very outset of life, but so it is.'

'We live and learn, Mr. Chevenix,' said Jerry, with unusual bitterness for him.

'True,' added his old agent,

'We live and learn, but not the wiser grow, says John Pomfret.'