'You haven't told me yet what on earth you're doing here,' said Mike. 'I thought you were going to the 'Varsity. Why the dickens are you in a bank? Your pater hasn't lost his money, has he?'

'No. There is still a tolerable supply of doubloons in the old oak chest. Mine is a painful story.'

'It always is,' said Mike.

'You are very right, Comrade Jackson. I am the victim of Fate. Ah, so you put the little chaps in there, do you?' he said, as Mike, reaching the post-office, began to bundle the letters into the box. 'You seem to have grasped your duties with admirable promptitude. It is the same with me. I fancy we are both born men of Commerce. In a few years we shall be pinching Comrade Bickersdyke's job. And talking of Comrade B. brings me back to my painful story. But I shall never have time to tell it to you during our walk back. Let us drift aside into this tea-shop. We can order a buckwheat cake or a butter-nut, or something equally succulent, and carefully refraining from consuming these dainties, I will tell you all.'

'Right O!' said Mike.

'When last I saw you,' resumed Psmith, hanging Mike's basket on the hat-stand and ordering two portions of porridge, 'you may remember that a serious crisis in my affairs had arrived. My father inflamed with the idea of Commerce had invited Comrade Bickersdyke—'

'When did you know he was a manager here?' asked Mike.

'At an early date. I have my spies everywhere. However, my pater invited Comrade Bickersdyke to our house for the weekend. Things turned out rather unfortunately. Comrade B. resented my purely altruistic efforts to improve him mentally and morally. Indeed, on one occasion he went so far as to call me an impudent young cub, and to add that he wished he had me under him in his bank, where, he asserted, he would knock some of the nonsense out of me. All very painful. I tell you, Comrade Jackson, for the moment it reduced my delicately vibrating ganglions to a mere frazzle. Recovering myself, I made a few blithe remarks, and we then parted. I cannot say that we parted friends, but at any rate I bore him no ill-will. I was still determined to make him a credit to me. My feelings towards him were those of some kindly father to his prodigal son. But he, if I may say so, was fairly on the hop. And when my pater, after dinner the same night, played into his hands by mentioning that he thought I ought to plunge into a career of commerce, Comrade B. was, I gather, all over him. Offered to make a vacancy for me in the bank, and to take me on at once. My pater, feeling that this was the real hustle which he admired so much, had me in, stated his case, and said, in effect, "How do we go?" I intimated that Comrade Bickersdyke was my greatest chum on earth. So the thing was fixed up and here I am. But you are not getting on with your porridge, Comrade Jackson. Perhaps you don't care for porridge? Would you like a finnan haddock, instead? Or a piece of shortbread? You have only to say the word.'

'It seems to me,' said Mike gloomily, 'that we are in for a pretty rotten time of it in this bally bank. If Bickersdyke's got his knife into us, he can make it jolly warm for us. He's got his knife into me all right about that walking-across-the-screen business.'

'True,' said Psmith, 'to a certain extent. It is an undoubted fact that Comrade Bickersdyke will have a jolly good try at making life a nuisance to us; but, on the other hand, I propose, so far as in me lies, to make things moderately unrestful for him, here and there.'