“Ay, that’s the beginning of it!” exclaimed Spike. “I wonder that the fool has put it off so long.”

“That gun was a heavy fellow, Capt. Spike,” returned the boatswain; “and it sounded in my ears as if ’twas shotted.”

“Ay, ay, I dare say you’re right enough in both opinions. They put such guns on board their sloops-of-war, now-a-days, as a fellow used to find in the lower batteries of a two-decker only in old times; and as for shot, why Uncle Sam pays, and they think it cheaper to fire one out of a gun, than to take the trouble of drawing it.”

“I believe here’s one of the bags, Capt. Spike,” said the boatswain, making a dip, and coming up with one-half of the desired treasure in his fist. “By George, I’ve grabbed him, sir; and the other bag can’t be far off.”

“Hand that over to me,” said the captain, a little authoritatively, “and take a dive for the next.”

As the boatswain was obeying this order, a second gun was heard, and Spike thought that the noise made by the near passage of a large shot was audible also. He called out to Ben to “bear a hand, as the ship seems in ’arnest.” But the head of the boatswain being under water at the time, the admonition was thrown away. The fellow soon came up, however, puffing like a porpoise that has risen to the surface to blow.

“Hand it over to me at once,” said Spike, stretching out his unoccupied hand to receive the prize; “we have little time to lose.”

“That’s sooner said than done, sir,” answered the boatswain, “a box has driven down upon the bag, and there’s a tight jam. I got hold of the neck of the bag, and pulled like a horse, but it wouldn’t come no how.”

“Show me the place, and let me have a drag at it. There goes another of his bloody guns!”

Down went Spike, and the length of time he was under water, proved how much he was in earnest. Up he came at length, and with no better luck than his companion. He had got hold of the bag, satisfied himself by feeling its outside that it contained the doubloons, and hauled with all his strength, but it would not come. The boatswain now proposed to take a jamming hitch with a rope around the neck of the bag, which was long enough to admit of such a fastening, and then to apply their united force. Spike assented, and the boatswain rummaged about for a piece of small rope to suit his purpose. At this moment Mulford appeared at the companion-way to announce the movements on the part of the sloop-of-war. He had been purposely tardy, in order to give the ship as much time as possible; but he saw by the looks of the men that a longer delay might excite suspicion.