"It is new. The colonel has just given it to her."

"What did it cost?"

Alice laughed. "Do you think it likely I have heard? I question if Lady Sarah has."

"It never cost a farthing less than two hundred guineas," mused Gerard, turning the bracelet in various directions, that its rich diamonds might give out their gleaming light. "I wish it was mine."

"What should you do with it?" laughed Alice.

"Spout it."

"I do not understand," returned Alice. She really did not.

"I beg your pardon, Alice. I was thinking of the colloquial lingo familiarly applied to such transactions, instead of to whom I was talking. I mean raise money upon it."

"Oh, Mr. Hope!"

"Alice, that's twice you have called me 'Mr. Hope.' I thought I had been 'Gerard' to you for many a year."