"Then of course you make a handsome profit out of these transactions?"

"Upon my word and honour, I never made a profit on any pecuniary transaction in my life."

The merchant's face lengthened, as he turned his small eyes obliquely towards the king. After a pause, he began on another tack.

"How does the king dispose of these sums?"

"Gives them away, sometimes in coin or bank-notes; oftener in presents of jewellery or other precious articles."

"Hark'ee, sir," said the merchant, delighted by these confessions, "would you not wish to make the best of your influence with the king?"

"Certainly I would."

"Then, if you will suffer me to instruct you, I will teach you how to make fifty per cent. on the capital. Let me buy the jewels and presents."

Just at that instant one of the king's pages arrived, and desired the clerk to call his master, who was never less disposed to be interrupted.