"You silly young fool! I think it's uncommonly clever," Warrington said in a kind voice. "So do you, sir." And with the manuscript which he held in his hand he playfully struck Pen on the cheek. That part of Pen's countenance turned as red as it had ever done in the earliest days of his blushes: he grasped the other's hand and said, "Thank you, Warrington," with all his might; and then he retired to his own room with his book, and passed the greater part of the day upon his bed re-reading it: and he did as Warrington had advised, and altered not a little, and added a great deal, until at length he had fashioned "Walter Lorraine" pretty much into the shape in which, as the respected novel-reader knows, it subsequently appeared.

While he was at work upon this performance, the good-natured Warrington artfully inspired the two gentlemen who "read" for Messrs. Bacon and Bungay with the greatest curiosity regarding, "Walter Lorraine," and pointed out the peculiar merits of its distinguished author. It was at the period when the novel, called "The Fashionable," was in vogue among us; and Warrington did not fail to point out, as before, how Pen was a man of the very first fashion himself, and received at the houses of some of the greatest personages in the land. The simple and kind-hearted Percy Popjoy was brought to bear upon Mrs. Bungay, whom he informed that his friend Pendennis was occupied upon a work of the most exciting nature; a work that the whole town would run after, full of wit, genius, satire, pathos, and every conceivable good quality. We have said before, that Bungay knew no more about novels than he did about Hebrew or Algebra, and neither read nor understood any of the books which he published and paid for; but he took his opinions from his professional advisers and from Mrs. B., and, evidently with a view to a commercial transaction, asked Pendennis and Warrington to dinner again. Bacon, when he found that Bungay was about to treat, of course, began to be anxious and curious, and desired to out-bid his rival. Was any thing settled between Mr. Pendennis and the odious house "over the way" about the new book? Mr. Hack, the confidential reader, was told to make inquiries, and see if any thing was to be done, and the result of the inquiries of that diplomatist, was, that one morning, Bacon himself toiled up the staircase of Lamb-court, and to the door on which the names of Mr. Warrington, and Mr. Pendennis were painted.

For a gentleman of fashion as poor Pen was represented to be, it must be confessed, that the apartments he and his friend occupied, were not very suitable. The ragged carpet had grown only more ragged during the two years of joint occupancy: a constant odor of tobacco perfumed the sitting-room: Bacon tumbled over the laundress's buckets in the passage through which he had to pass; Warrington's shooting jacket was as shattered at the elbows as usual; and the chair which Bacon was requested to take on entering, broke down with the publisher. Warrington burst out laughing, said that Bacon had got the game chair, and bawled out to Pen to fetch a sound one from his bedroom. And seeing the publisher looking round the dingy room with an air of profound pity and wonder, asked him whether he didn't think the apartments were elegant, and if he would like, for Mrs. Bacon's drawing-room, any of the articles of furniture? Mr. Warrington's character as a humorist, was known to Mr. Bacon: "I never can make that chap out," the publisher was heard to say, "or tell whether he is in earnest or only chaffing."

It is very possible that Mr. Bacon would have set the two gentlemen down as impostors altogether, but that there chanced to be on the breakfast-table certain cards of invitation which the post of the morning had brought in for Pen, and which happened to come from some very exalted personages of the beau-monde, into which our young man had his introduction. Looking down upon these, Bacon saw that the Marchioness of Steyne would be at home to Mr. Arthur Pendennis upon a given day, and that another lady of distinction proposed to have dancing at her house upon a certain future evening. Warrington saw the admiring publisher eying these documents. "Ah," said he, with an air of simplicity, "Pendennis is one of the most affable young men I ever knew, Mr. Bacon. Here is a young fellow that dines with all the great men in London, and yet he'll take his mutton-chop with you and me quite contentedly. There's nothing like the affability of the old English gentleman."

"O, no, nothing," said Mr. Bacon.

"And you wonder why he should go on living up three pair of stairs with me, don't you, now? Well, it is a queer taste. But we are fond of each other; and as I can't afford to live in a grand house, he comes and stays in these rickety old chambers with me. He's a man that can afford to live any where."

"I fancy it don't cost him much here," thought Mr. Bacon; and the object of these praises presently entered the room from his adjacent sleeping apartment.

Then Mr. Bacon began to speak upon the subject of his visit; said he heard that Mr. Pendennis had a manuscript novel; professed himself anxious to have a sight of that work, and had no doubt that they could come to terms respecting it. What would be his price for it? would he give Bacon the refusal of it? he would find our house a liberal house, and so forth. The delighted Pen assumed an air of indifference, and said that he was already in treaty with Bungay, and could give no definite answer. This piqued the other into such liberal, though vague offers, that Pen began to fancy Eldorado was opening to him, and that his fortune was made from that day.

I shall not mention what was the sum of money which Mr. Arthur Pendennis finally received for the first edition of his novel of "Walter Lorraine," lest other young literary aspirants should expect to be as lucky as he was, and unprofessional persons forsake their own callings, whatever they may be, for the sake of supplying the world with novels, whereof there is already a sufficiency. Let no young people be misled and rush fatally into romance-writing: for one book which succeeds let them remember the many that fail, I do not say deservedly or otherwise, and wholesomely abstain: or if they venture, at least let then do so at their own peril. As for those who have already written novels, this warning is not addressed, of course, to them. Let them take their wares to market; let them apply to Bacon and Bungay, and all the publishers in the Row, or the metropolis, and may they be happy in their ventures. This world is so wide, and the tastes of mankind happily so various, that there is always a chance for every man, and he may win the prize by his genius or by his good fortune. But what is the chance of success or failure; of obtaining popularity, or of holding it, when achieved? One man goes over the ice, which bears him, and a score who follow flounder in. In fine, Mr. Pendennis's was an exceptional case, and applies to himself only: and I assert solemnly, and will to the last maintain, that it is one thing to write a novel, and another to get money for it.

By merit, then, or good fortune, or the skillful playing off of Bungay against Bacon which Warrington performed (and which an amateur novelist is quite welcome to try upon any two publishers in the trade), Pen's novel was actually sold for a certain sum of money to one of the two eminent patrons of letters whom we have introduced to our readers. The sum was so considerable that Pen thought of opening an account at a banker's, or of keeping a cab and horse, or of descending into the first floor of Lamb-court into newly furnished apartments, or of migrating to the fashionable end of the town.