“I was endeavoring to state the matter succinctly,” the stranger replied, refusing to be hurried or flustered. “The Common Law and the practice of the Treasury Department provide, that all treasure found on Government land or within navigable waters, is Government property. If declared by the finder, immediately, he shall be paid such reward as the Secretary may determine. If he does not declare, and is informed on, the informer gets the reward. You will observe that, under the law, you have forfeited the jewels—I fancy I do not need to draw further deductions.”

“No!—it’s quite unnecessary,” Croyden remarked. “Your fellow thieves went into that phase (good word, I like it!) rather fully, down on Greenberry Point. Unluckily, they fell into the hands of the police, almost immediately, and we have not been able to continue the conversation.”

“I have the honor to continue the conversation—and, in the interim, you have found the treasure. So, Parmenter’s letter won’t be essential—the facts, circumstances, your own and Mr. Macloud’s testimony, will be sufficient to prove the Government’s case. Then, as you are aware, it’s pay or go to prison for larceny.”

“There is one very material hypothesis, which you assume as a fact, but which is, unfortunately, 202 not a fact,” said Croyden. “We did not find the treasure.”

The man laughed, good-humoredly.

“Naturally!” he replied. “We don’t ask you to acknowledge the finding—just pay over the quarter of a million and we will forget everything.”

“My good man, I’m speaking the truth!” Croyden answered. “Maybe it’s difficult for you to recognize, but it’s the truth, none the less. I only wish I had the treasure—I think I’d be quite willing to share it, even with a blackmailer!”

The man laughed, again.

“I trust it will give no offence if I say I don’t believe you.”

“You can believe what you damn please!” Croyden retorted.