"Sinecures, Elinor?"

"I did not mean exactly sinecures," she said, with an embarrassed laugh, "though I think those must have been fine things; but posts where it is not merely routine, where a man may have a chance of acting for himself and distinguishing himself, perhaps. And to be in the service of the country is always better, safer, than that dreadful city. Don't you think so?"

"I have never thought the city dreadful, Elinor. I have had many friends connected with the city."

"Ah, but not in those horrid companies, mamma. Do you know that company which we just escaped, which Phil saved my money out of, when it was all but invested—I believe that has ruined people right and left. He got out of it, fortunately, just before the smash; that is, of course, he never had very much to do with it, he was only on the Board."

"And where is your money now?"

"Oh, I can answer that question this time," said Elinor, gayly. "He had just time to get it into another company which pays—beautifully! The Jew is in it, too, and the whole lot of them. Oh! I beg your pardon, mamma. I tried hard to call her by her proper name, but when one never hears any other, one can't help getting into it!"

"I hope," said Mrs. Dennistoun, "that Philip was not much mixed up with this company if other people have been ruined, and he has escaped?"

"How could that be?" said Elinor, with a sort of tremulous dignity. "You don't suppose for a moment that he——. But of course you don't," she added with a heightened colour and a momentary cloud over her eyes, "of course you don't. There was a dreadful manager who destroyed the books and then fled, so that there never could be a right winding up of the affairs."

"I hope Philip will take great care never to have to do with anything of the kind again."

"Oh, no, he has promised me he will not. I will not have it. He has a kind of ornamental directorship on this new company, just for the sake of his name: but he has promised me he will have nothing more to do with it for my peace of mind."