First Armorel took out and laid on the floor a layer of silver spoons, silver ladles, even silver dishes, all of antique appearance and for the most part stamped with a crest or a coat-of-arms: for in the old days if a man was Armiger he loved to place his shield on everything; to look at it and glory in it: to let others see it and envy it.

Then she found a layer of watches. There were gold watches and silver watches; the latter of all kinds, down to the veritable turnip. The glasses were broken of nearly all, and, if one had examined, the works would have been found rusted with the sea-water which had got in. What were they worth now? Perhaps the value of the cases and of the jewels with which the works were set, and more with one or two, where miniatures adorned the back and jewels were set in the face. Armorel turned with impatience from the watches to the gold chains, which lay beside them. There were yards of gold chain: gold chains of all kinds, from the heavy English make to the dainty interlaced Venetian and thread-like Trichinopoly; there were silver chains also—massive silver chains, made for some extinct office-bearer, perhaps bo's'n on the Admiral's ship of the Great Armada. Armorel drew up some of the chains and played with them, tying them round her wrists and letting them slip through her fingers—the pretty delicate things, which spoke of wealth almost as loudly as the bags of guineas.

She laid them aside, and took up a silk handkerchief containing a small collection of miniatures. They were almost all portraits of women: young and pretty women: ladies on land whose faces warmed the hearts and fired the memories of men at sea. The miniatures had hung round the necks of some and had lain in the sea-chests of others, whose bones had long since melted to nothing in the salt sea depths, while those of their mistresses had turned to dust beneath the aisle of some village church, their memory long since forgotten, and their very name trampled out by the feet of the rustics.

Armorel laid aside these pictures—they were very pretty, but she would look at them again another time.

The next parcel was a much larger one. It consisted of snuff-boxes. There were dozens of snuff-boxes: one or two of gold: one or two silver-gilt: some silver. In the lids of some were pictures, some most beautifully and delicately executed; some of subjects which Armorel did not understand—and why, she thought, should painters draw people without proper clothes? Venus and the Graces and the Nymphs, in whom our eighteenth-century ancestors took such huge delight, were to this young person merely people. The snuff-boxes were very well in their way, but Armorel had no inclination to look at them again.

Then she found in a handkerchief, the four corners of which were loosely tied together, a great quantity of rings. There were rings of every kind—the official ring or the ring of office, the signet-ring, the ring with the shield, the ring with the name of a ship, the ring with the name of a regiment, mourning-rings, wedding-rings, betrothal-rings, rings with posies, cramp-rings with the names of the Magi on them—but their power was gone—gimmal-rings, rings episcopal, rings barbaric, mediæval, and modern, rings set with every kind of precious stone—there were hundreds of rings. All drowned sailors used to have rings on their fingers.

Armorel began to get tired of all these treasures. Beneath them, however, at the bottom of the box, lay piled together a mass of curios. They were stowed away for the most part in small boxes, of foreign make and appearance: ivory boxes: carved wood boxes. They consisted of all kinds of things, such as gold and silver buckles, brooches, painted fans, jewel-hilted daggers, crystal tubes of attar of roses, and knives of curious construction. The girl sighed: she would look over them at another time. They would, perhaps, add something to the inheritance, but for the moment she was satisfied. She had seen enough. She was putting back a dagger whose jewelled handle flashed in the unaccustomed light, when she saw, lying half hidden among this pile of curious things, the corner of a chagreen case. This attracted her curiosity, and she took it out. The chagreen had been green in colour, but was now very much discoloured. It had been fastened by a silver clasp, but this was broken: a small leather strap was attached to two corners. Armorel expected to find another bag of money. But this did not contain gold. It was lighter than the canvas bags. As she took it into her hands she remembered the bag of Robert Fletcher. Yes. The leathern strap of this case had been cut through. She held in her hands—she was certain—the abominable Thing that had brought so much trouble on the family. Again the room felt ghostly: she heard voices whispering: the voices of all those who had been drowned: the voices of the women who had mourned for them: the voice of the old lady who was herself a witness of the crime. They all whispered together in her ears: 'Armorel, you must find him. You must give it back to him.'

What was in it? The clasp acted no longer. Armorel lifted the overlapping leather and looked within. There was a thick roll of silk. She took this out. Wrapped up in the silk, laid in folds, side by side, were a quantity of stones—common-looking stones, such as one may pick up, she thought, on the beach of Porth Bay. There were a couple of hundred or more, mostly small stones, only one or two of them bigger than the top of Armorel's little finger.

'Only stones!' she cried. 'All this trouble about a bag full of red stones!'

Among the stones lay a small folded paper. Armorel opened it. The paper was discoloured by age or by water, and most of the writing was effaced. But she could read some of it.