The first lord of the Admiralty appeared. "Now, sir," said the Buccaneer, "take charge, and let me see what you can do." The whole sea-faring world had been so changed and modernized since the old Buccaneer had commanded in person, that he really knew very little about things; but ignorance can always be concealed by a discreet silence.

The first lord being thus called upon to show his professional knowledge, cried out, "Ease her! backer! stopper!" This was addressed through a speaking trumpet to the old Church Hulk alongside; but as she had never been known to move for years past, what the first lord said was without effect. Indeed the crew of the old Church ship were busily occupied in trying a rebellious priest who would neither mend his ways, nor leave his pulpit, but breathed defiance against the High Priest and all his ecclesiastical big guns.

"What is all that about?" exclaimed the Buccaneer, addressing his first lord.

"Those, sir, are nautical expressions I have picked up on the river," replied the first lord, "and I believe they are technically correct. If they are not, I have no official information on the subject."

The old Buccaneer not willing to display his ignorance, said, "I want, sir, to know what state your department is in. What have you been doing; and how are my ships?"

"I have spent your money, sir, right well. I have bought some very fine and fast new cruisers, and I gave as much for them as I decently could."

"How is this?" cried the Buccaneer, "I used to be the first shipwright in the world."

"Rest easy, sir," Dogvane said. "These goods are of home manufacture. It is your custom in times of peace to let your shipyards lie idle; but when a scare comes, as come they will, in the best regulated nation, then we buy your ships from private firms, and having husbanded your wealth, you can the more readily give high prices in cases of necessity."

"But is this wise, Master Dogvane?"

"It is constitutional, sir," was the captain's reply. He might have added that it was also a customary thing to sell these ships, for which so much had been given, for a mere song after the panic was over.