"Down with it, so that I can say I have seen some money in my lifetime!" cried Day. "Empty it out, and let me feel of it; let me but touch the precious yellow boys with my fingers, and wonder how many splendid funerals it would pay for."

I took one of his sheepskins and poured the contents of the bag upon it, and out rattled gold dust, sovereigns, doubloons, a number of American gold pieces—all bearing the date of 1832—articles of jewelry, such as finger rings and watch chains, and at the bottom of the bag was a lady's gold watch, enamelled back, and half a dozen small diamonds set in the form of a cross upon the case. I examined the watch carefully, and saw a stain near the diamonds. Something told me that the mark was the blood of the unfortunate owner. I laid the jewel down with a shudder, and thought of the cruelties to which the owner had undoubtedly been subject before she met her death. Day, however, partook of none of my feelings, for he was eager to possess so attractive a trinket.

"Take it if you desire it," I said, handing the watch to the shepherd, "but you will always recollect that there is a stain of blood upon the case."

"Not I," he replied, handling the article with as much pride and pleasure as a boy receives a new toy; "I didn't shed her blood, and so shan't trouble myself about this little spot that is on the case. It's as pretty as a mahogany coffin, but it don't go."

"The works are rusted, and it will be necessary to send it to Melbourne for repairs."

"Not I," answered the ghost, with a chuckle; "somebody might see it and lay claim to it, and then where would be my watch, and where would I be? Another term at the hulks is not agreeable to think of, and my accounts of the manner in which I got hold of the thing wouldn't be believed. No, no; I'll wear it out of sight until I leave the country, or am rich enough to escape suspicion."

I thought that Day's course was the best, if he desired to retain possession of the property, for, as he said, a number of awkward questions would probably have been asked him at Melbourne, the mere carrying of a watch by a ticket of leave man being looked upon as suspicious by people who were not so honest as Day.

We continued our examination of the treasure, and were delighted to find that it exceeded our expectations, and so engrossed were we in speculating upon the nature of the dust that we forgot the hardships attendant upon obtaining it.

We counted the coins, and found that we had about three thousand dollars, and I judged the dust was worth about as much more, as it was of good quality, and entirely free of dirt. "Now, Day, how much shall we give you for your valuable services?" asked' Mr. Brown.

"O, I am satisfied with this," he answered, holding up his watch, which he was polishing on his shirt sleeve.