"We were. We laid low, but watched, and when that schooner was filled up with grub, we were ready to raid her and chuck the crew overboard; but it wasn't necessary to do the latter. They filled up too late for the tide and went ashore for the evening, leaving no one aboard but a Japanese cook. We remembered, as we climbed aboard after dark, that we hadn't a man among us who could cook, and so, instead of dropping that Jap over the rail, we simply locked him into a stateroom and made sail.

"Naturally, as Gleason originated the scheme, he was elected captain, but, as I was the only navigator in the crowd, I was made first mate, and the big nigger, Pango Pete, second mate. It looked good for discipline, for even pirates recognize the need of it, and the first man that growled or kicked had to deal with Pete. He whaled a few before we'd got around the Florida Cape, but he also whaled the Jap for bad cooking and insolence—which was a mistake. That Jap was an educated man, a college graduate and a member of the Japanese Samurai, a curious class in that country that never yield, never forgive, and kill themselves when defeated. We didn't know this; we only knew that he was a mighty poor cook.

"After we were around the Cape, Gleason gave me the latitude and longitude of the spot, and I made for it. It took me two or three days of careful observations and calculations before I announced that we were within six seconds of the spot, which is all that navigation will do. Then we dropped anchor and began to drag. We knotted together every line we had, and in the middle we had a length of mooring chain that would stick to the bottom. We kept two small boats, to which this was attached, a quarter of a mile apart and pulled on parallel lines, and at last felt a drag; then we pulled together, gathering in the slack, and when we met, the schooner, under charge of Gleason, came up and anchored, over the spot.

"I was the only man there who had any diving experience, so I went down. Say, have you ever been under water in a diving suit, trusting your life to the fellows above who pump the air into your helmet? No? Well, it's a curious experience. I had the feeling as I went down that I was number thirteen of that bunch, and that they only needed to shut off my air supply to make their number twelve instead of thirteen. But that didn't happen; they pumped, and I breathed and saw the old galleon, the Santa Margherita. She lay there, heeled over to starboard, covered with the ooze and the slime of the sea, with barnacles everywhere.

"I signaled for slack and walked around her, taking note of her rig. She had three masts, and three tops very much like the fighting tops of our modern battleships. There were no royal masts, but she had two sprit-sail yards under the bowsprit and jib boom, and a huge lateen yard on the mizzen that took the place of the cro'-jack. But her poop deck was a wonder; five tiers of windows one above the other, and on top three big lanterns much like the ordinary street lamp. Of course, all canvas and running gear had rotted away, but here and there was a leg of standing rigging, preserved by the tar. She was a big craft in her day, no doubt, but not so big compared with present-day ships; at any rate I could reach up to her channels, and by this means climbed aboard.

"The deck and rail were a foot thick with mud, and the small, spar-deck guns could hardly be distinguished. I saw at once that I would need help, and signaled to be hauled up. On deck I told the news and all hands, even the Jap, went crazy over it. We got out two more diving suits, rigged a bulb for each, and Pango, Peters, and myself went down again.

"Now, this isn't a yarn of the finding of that treasure. Anyone can invent such yarns, and I've read dozens of them. They all wind up successfully, with each man wealthy and happy. This is a yarn of the men who found that treasure, and what happened to them. So, I'll just say that we didn't find a skeleton or a ghost when we got below decks. All hands were up, I suppose, when that ship went down, and the rush of water as she plunged, washed them off. We found seven big chests in the 'tween-decks forward of the cabin, and in them all were coins, and jewelry, and here and there in the mess, what might have been an opal, or some kind of jewel. All the stuff was black from the action of the salt water; but we knew we had the real thing, and hooked on tackles. We had to come up to help each time we lifted a chest, for, after the chest was out of water, it was too heavy for the crowd above; but at last they were all up, and stowed snugly on the floor of the cabin. Then, after final search for other loot worth taking, we picked up our anchor and cleared out, not yet having decided where we were going.

"We were pirates under the law, and didn't know but what all the revenue cutters on the coast were looking for us, for the theft of that schooner. But with seven millions of bullion and jewels, melted down, counted up, and translated into cash in some bank, we didn't care for the charge of piracy. The real trouble was to get that stuff translated, and while we argued we sailed due east, out into the broad Atlantic. Peters, the young enthusiast, had been a jeweler, and he told us that nothing short of a blast of air in conjunction with the heat of a fire would melt gold and silver. Well, where could we set up a blast furnace with not a dollar in the party? My suggestion—and I was backed by Gleason, Peters, and old man Sullivan—was that we count out the loot, separate every salable jewel, and make some big port like New York, Liverpool, or Rio Janeiro, sell the jewels and get ready money with which to plan for the disposal of the rest; but we had to deal with men like Pango, Christo, Pedro, and the three Dutchmen, who didn't know what they were up against. They wanted an immediate count up and division; then, each man to go his way. The nonsense of it did not strike them; thirteen men to divide up seven heavy chests—each one shouldering seven-thirteenths of a load that took the whole thirteen to lift with a four-fold tackle. We asked the Jap cook what he thought, but he had no opinion.

"It's somewhat curious how the different men of that bunch had different ideas of what they wanted. Young Peters wanted to go back to his native town and win the girl that had soured on him because he was poor. Pango, Pedro, and the two Sou'wegians only wanted a big drunk. Old man Sullivan wanted a course in a Nautical School and a first mate's certificate. The three Germans wanted to get to New York and set up in the saloon business. Gleason wanted to study law, and I wanted to study medicine and be a doctor, a gentleman who could enter any society in the world. The Jap didn't give out his aspirations.

"And so, growling like an unhappy family in a menagerie, we sailed east, with the question unsettled. But at last we won over the Dagoes and the Dutchmen, and agreed upon New York as a port, and the selling of the jewels in some Bowery pawnshop, where no questions are asked. Then we shook hands all round, gave the Jap hell about his cooking—for we had been too worried to attend to that matter before—and squared away before the trade wind for Sandy Hook and a market.