“It is done,” said they, and at once they went down to Lake Ilmen, Sadko carrying a net of fine silk, not for youthful vanity but for strength; and it all fell out as the Water Tsar had promised. Then the merchants gave Sadko the treasures they had wagered, and he took to trading. He prospered well, for he did not forget his sweet playing nor the golden tones of his harp of maple-wood, and so wherever he went he was welcomed among the merchants of distant lands and won great profit thereby. In a short time he married a beautiful young wife, and built a palace of white stone, wherein all things were heavenly. His young wife moved among treasures of which even Elena the Beautiful would have been envious.

After a while Sadko made a merry feast, to which he invited a great company, including the brave heroes Laka and Thoma. Now when they had eaten well and drunk better they began to boast. One bragged of his good horse as if it were a second Cloudfall; another of the great deeds of his youth as if Svyatogor were puny beside him; a third of the beauty of his young wife as if she were another Golden Tress; and a fourth, a wise man, of the goodness of his aged father and the tenderness of his mother.

Then Sadko, not to be outdone, boasted of his wealth, and swore to buy up all the wares of the shops of Novgorod, both good and bad, day after day, until there should not be any more for sale in all that city of busy traders. And upon his oath he named a great wager of countless treasure.

The next day he sent his servants to the markets of Novgorod, who bought up all the wares, both good and bad. On the second day the markets were full again, but Sadko sent his servants, who bought up all the wares, both good and bad. On the third day he found the markets full of precious merchandise from Moscow, and felt a merchant’s pride in the enterprise of his city; and he made a pause while he went home, sat down in his own chamber and softly played upon his harp of maple-wood, which seemed to speak the golden tones of wisdom.

“If you buy all these goods from Moscow,” it seemed to whisper, “others will flow into Novgorod the Great from far away across the sea; and even Sadko the Rich Guest cannot buy all the treasures of the whole white world. Sadko is rich but Novgorod the Great is still richer. Yield your wager and venture forth upon the merchant path of lake and river and broad grey sea where the Water Tsar will be your friend.”

Then Sadko yielded his wager, which was an enormous sum of gold, and built a great fleet of thirty-three red ships with sails of fair white linen. The prows of these scarlet vessels were in the likeness of fearful dragons, whose eyes were precious jacinths, whose brows were Siberian sables and whose ears were the dark-brown skins of Siberian foxes. Soon these ships were filled with the rich wares of Novgorod, and Sadko sailed away to Lake Ladoga and thence into the Neva and through that river to the deep-blue sea. At the ports upon the shore he sold his wares, making great gain and filling many casks of forty buckets with red gold, white silver, and fair seed pearls. Then they sailed away with Sadko in the Falcon ship which was ever foremost and the finest in all that scarlet fleet.

But suddenly the blue sea turned to grey and the ships, now almost black in the shadow, halted and stood still. The waves rose like mountains, the sails flapped, the ships began to rock while men whispered of Whirlwind the Whistler and said that surely Ivan the son of Golden Tress had not killed him.

Then Sadko, the Rich Guest, shouted from his ship:

“Ho, there, my brave mariners! I hear the voice of the mighty Water Tsar, to whom we have paid no tribute. Cast into the waters a cask of red gold.” And they did so, but still the dark-red ships rocked, the waves beat, the sails tore, and the hearts of the mariners longed for Novgorod the Great.

Again Sadko the Rich Guest shouted from his ship: