Mr. Smithson was said to have commenced life in a very humble capacity. There were some who declared he was the very youth who stooped to pick up a pin in a Parisian banker's courtyard, after his services as clerk had just been rejected by the firm, and who was thereupon recognised as a youth worthy of favour and taken into the banker's office. But this touching incident of the pin was too ancient a tradition to fit Mr. Smithson, still under forty.

Some there were who remembered him eighteen years ago as an adventurer in the great wilderness of London, penniless, friendless, a Jack-of-all-trades, living as the birds of the air live, and with as little certainty of future maintenance. And then Mr. Smithson disappeared for a space—he went under, as his friends called it; to re-appear fifteen years later as Smithson the millionaire. He had been in Peru, Mexico, California. He had traded in hides, in diamonds, in silver, in stocks and shares. And now he was the great Smithson, whose voice was the voice of an oracle, who was supposed to be able to make the fortunes of other men by a word, or a wink, a nod, or a little look across the crowd, and whom all the men and women in London society—short of that exclusive circle which does not open its ranks to Smithsons—were ready to cherish and admire.

Mr. Smithson had been in Petersburg, Paris, Vienna, all over civilised Europe during the last five weeks, whether on business or on pleasure bent, nobody knew. He affected to be an elegant idler; but it was said by the initiated that wherever Smithson went the markets rose or fell, and hides, iron, copper, or tin, felt the influence of his presence.

He came back to London in time for the Cup Day, and in time to fall desperately in love with Lesbia, whom he met for the first time in the Royal enclosure.

She was dressed in white, purest ivory white, from top to toe—radiant, dazzling, under an immense sunshade fringed with creamy marabouts. Her complexion—untouched by Seraphine—her dark and glossy hair, her large violet eyes, luminous, dark almost to blackness, were all set off and accentuated by the absence of colour in her costume. Even the cluster of exotics on her shoulder were of the same pure tint, gardenias and lilies of the valley.

Mr. Smithson was formally presented to the new beauty, and received with a cool contempt which riveted his chains. He was so accustomed to be run after by women, that it was a new sensation to meet one who was not in the least impressed by his superior merits.

'I don't suppose the girl knows who I am,' he said to himself, for although he had a very good idea of his intrinsic worth, he knew that his wealth ranked first among his merits.

But on after occasions when Lesbia had been told all that could be told to the advantage of Mr. Smithson, she accepted his homage with the same indifference, and treated him with less favour than she accorded to the ruined guardsmen and younger sons who were dying for her.