Some boys would have reflected that the ring was not theirs to pawn; but Sam, as the reader has found out by this time, was not a boy of high principles. He had a very easy code of morality, and determined to make the most of his good fortune.

When he got a chance he took a look at his treasure.

There was a solitary diamond, of considerable size, set in it. Sam did not know much about diamonds, and had no conception of the value of this stone. His attention was drawn chiefly to the gold, of which there was considerable. He thought very little of the piece of glass, as he considered it.

"I'd orter get five dollars for this," he thought, complacently. "Five dollars will be a great help to a poor chap like me. I'll go round to the pawnbroker's just as soon as I get out of the store."

William Budd was rather puzzled by Sam's evident good spirits. Considering that he was impecunious enough to require a loan which he had been unable to negotiate, it was rather remarkable.

"Have you succeeded in borrowing any money, Sam?" he asked, with some curiosity.

"No," answered Sam, with truth; "I haven't asked anybody but you."

"You don't seem to mind it much."

"What's the use of fretting?" said Sam. "I'm expecting a legacy from my uncle."

"How much?"