Of the vessel on which I stood nearly two-thirds had quite disappeared, while of the quarter-deck only a few blackened crossbeams and ribs remained. All around were pieces of timber of all sizes and shapes, slowly drifting shorewards with the flood tide.

The black flag, with its grinning skull and crossbones, was trailing in the water under the wreck's quarter. This would serve for a signal, so, hauling it on board, I lashed it to a pike, which in turn I fastened to an iron socket that at one time had supported the poop lantern.

My signal was soon observed, and a boat was put off from the Neptune; and while awaiting her arrival I ran below and made a second examination of the cabins and after hold. Most of the former were luxuriously furnished, though they had suffered severely, from both our shot and the effect of the explosion. Yet, brief as was my inspection, I saw that two of them were used as store places, and that they were filled with the loot of many an unfortunate vessel. Gold and silver ornaments and plate, coins of a dozen different countries, and other precious goods filled the lockers. To me it seemed enough for the ransom of a king.

Looking through the hatch by which I had escaped from the hold, I perceived how nearly the whole of the treasure had been lost to us, for now, plainly visible in the flooded after-magazine, were barrels of powder, far more than the fore part of the ship had contained; while from one of them a wisp of tow floated towards the surface. Its charred end showed how near had been the consummation of the buccaneers' diabolical plan, for when the magazine was flooded the fuse had burned to within a foot of the powder.

Great was the astonishment of the men to find me alive and unhurt, for although I had been seen standing on the poop, no one on the ship had recognized me. My clothing was rent, and my damp hair hung over my face, which was black with charcoal, smoke, and dust. Captain 'Enery had concluded that I had perished in the explosion, and that the figure they had seen on board was that of one of the buccaneers, who, on the vessel being blown up, had swum off from a neighbouring shoal.

"The wreck is full of treasure," I announced, and on hearing the good news the boat's crew gave a hearty cheer. Some were for making their way on board, but the coxswain sternly ordered them to remain in the boat.

"The stuff is safe enow," said he, "and all will share and share alike when the time comes. There's plenty of work to be done before we trouble about what's aboard yon craft."

This was the case, for when the boat put me once more aboard the Golden Hope I found all hands busily engaged in clearing up the damage done in the fight. The work of making good the mischief done aloft would take weeks of continuous labour, though the spars of the wrecked buccaneer could be utilized to replace our own, for, trailing over the side, they had escaped the force of the explosion.

But though the ships suffered severely, our loss in men was far more to be deplored. The Golden Hope had eleven killed and fifteen wounded, including Captain Jeremy, and the Neptune nine killed and seventeen wounded. In the stockade, however, not a single man had been hit. Thus, including the six men who were missing after our futile expedition to recover the treasure, only one hundred and twenty-eight were fit for duty, and of these nearly two score had received slight wounds.

My first act on returning on board was to see how Captain Jeremy was progressing. I found that he was sleeping peacefully, his wound having been carefully dressed; and that, should no feverish symptoms make their appearance, his recovery would be but a matter of a few weeks. As quietness was a necessity, it was planned that he should be carried ashore to the stockade with the rest of the wounded on the following day, so as not to be disturbed by the shipwrights and riggers at their work.