"It is all safe in my satchel," said the lawyer, as they rode together to the hotel; "and our dear friends are as good as rescued already. It's pretty bulky, Kenneth—four hundred thousand lira—but it is all in notes on the Banca d'Italia, for we couldn't manage gold."

"Quite a haul for the brigand," observed Kenneth, thoughtfully.

"True; but little enough for the lives of two men. That is the way I look at the transaction. And, since our friends can afford the loss, we must be as cheerful over the thing as possible. It might have been a tragedy, you know."

Louise shivered.

"I'm glad it is all over," she said, gratefully.

The conspirators looked at one another and smiled, but held their peace.

Arriving at the hotel, Beth and Kenneth at once disappeared, saying they were going to town, as they would not be needed longer. Patsy accompanied their cousin and the lawyer to the sitting-room, where presently Tato came to them.

"Well, little one," said the lawyer, pleasantly, "We have secured the money required to enable Mr. Merrick to purchase the ring, and Mr.—er—Count Ferralti to buy his bracelet. Will you count it?"

"Yes, signore, if you please," replied Tato, with a sober face.

Mr. Watson drew out two packages of bank notes and placed them upon the table. The child, realizing the importance of the occasion, carefully counted each bundle, and then replaced the wrappers.