And the better sort added privately, "We shall be well rid of him!" But the baser grieved for the loss of the largesse which he scattered abroad in good Muscovite silver, unclipped and unalloyed, with the mint-master's hammer-stroke clean and clear to the margin. For with such Prince Ivan knew how to make himself beloved, holding man's honour and woman's love at the price of so few and so many gold pieces, and thinking well or ill of them according to their own valuation. The rabble of Courtland, whose price was only silver, he counted as no better than the trodden dirt of the highway.

Meanwhile, in the river parlour of the Summer Palace, the two Princesses were talking together even as the people had said. The Princess Margaret sat on a low stool, leaning her elbow on her companion's knee and gazing up at him. And though she sometimes looked away, it was not for long, and Maurice, meeting her ever-recurrent regard, found that a new thing had come into her eyes.

Presently a low tapping was heard at the inner door, from which a passage communicated with the rooms of the Princess Margaret. The Sparhawk would have risen, for the moment forgetful of his disguise, but with a slight pressure of her arm upon his knee the Princess restrained him.

"Enter!" she called aloud in her clear imperious voice.

Thora entered hurriedly, and, closing the door behind her, she stood with the latch in her hand. "My Princess," she said in a voice that was little more than a whisper, "I have heard ill news. They are making the cathedral ready for a wedding. The Cossacks have struck their tents. I think a plot is on foot to marry you this day to Prince Ivan, and to carry you off with him to Moscow."

The Sparhawk sprang to his feet and laid his hand on the place where his sword-hilt should have been.

"Never," he cried; "it is impossible! The Princess is——"

He was about to add, "She is married already," but with a quick gesture of warning Margaret stopped him.

"Who told you this?" she queried, turning again to Thora of Bornholm.

"Johannes Rode of the Prince's guard told me a moment ago," she answered. "He has just returned from the Muscovite camp."