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you did so inadvertently," answered Henry rather gruffly. "Won't you have a cigarette?"

The rest of the evening passed quietly enough; almost too quietly, indeed, for Emma, dismayed by her former experiences, barricaded herself in a corner behind an enormous photograph album; and Ellen, irritated by a scene which jarred upon her and offended her sense of the social proprieties, grew somewhat tart in speech, especially when addressing her admirer, who quailed visibly beneath her displeasure. Mr. Levinger noticed with some amusement, indeed, that, however largely he might talk, Mr. Milward was not a little afraid of the young lady to whom he was paying his court.

At length the party broke up. Mr. Milward retired to his own place, Upcott Hall, which was situated in the neighbourhood, remarking as he went that he hoped to see them all at church on the morrow in the afternoon; whereon Henry resolved instantly that he would not attend divine service upon that occasion. Then Sir Reginald and Lady Graves withdrew to bed, followed by Ellen and Emma Levinger; but, somewhat to his surprise, Henry having announced his intention of smoking a pipe in the library, Mr. Levinger said that he also smoked, and with his permission would accompany him.

At first the conversation turned upon Mr. Milward, of whom Henry spoke in no complimentary terms.

"You should not judge him so harshly," said Levinger: "I have seen many such men in my day. He is not a bad fellow at bottom; but he is rich and an only child, and has been spoilt by a pack of women--wants taking down a peg or two, in short. He will find his level, never fear. Most of us do in this world. Indeed, unless my observation is at fault," Mr. Levinger added significantly, "there is a lady in this house who will know how to bring him down to it. But perhaps you will think that is no affair of mine."

Henry was somewhat mystified by this allusion, though he guessed that it must have reference to Ellen. Of the state of affairs between Mr. Milward and his sister he was ignorant; indeed, he disliked the young gentleman so much himself that, except upon the clearest evidence, it would not have occurred to him that Ellen was attracted in this direction. Mr. Levinger's remark, however, gave him an opening of which he availed himself with the straightforwardness and promptitude which were natural to him.

"It seems, Mr. Levinger," he said, "from what I have heard since I returned home, that all our affairs are very much your own, or /vice versa/. I don't know," he added, hesitating a little, "if it is your wish that I should speak to you of these matters now. Indeed, it seems a kind of breach of hospitality to do so; although, if I understand the position, it is we who are receiving your hospitality at this moment, and not you ours."

Mr. Levinger smiled faintly at this forcible way of putting the situation.

"By all means speak, Captain Graves," he said, "and let us get it over. I am exceedingly glad that you have come home, for, between ourselves, your late brother was not a business man, and I do not like to distress Sir Reginald with these conversations--for I presume I am right in supposing that you allude to the mortgages I hold over the Rosham property."

Henry nodded, and Mr. Levinger went on: "I will tell you how matters stand in as few words as possible." And he proceeded to set out the financial details of the encumbrances on the estate, with which we are already sufficiently acquainted for the purposes of this history.

"The state of affairs is even worse than I thought," said Henry, when he had finished. "It is clear that we are absolutely bankrupt; and the only thing I wonder at, Mr. Levinger," he added, with some irritation, "is that you, a business man, should have allowed things to go so far."

"Surely that was my risk, Captain Graves," he answered. "It is I who am liable to lose money, not your family."

"Forgive me, Mr. Levinger, there is another side to the question. It seems to me that we are not only paupers, we are also defaulters, or something like it; for if we were sold up to the last stick to-morrow we should not be able to repay you these sums, to say nothing of other debts that may be owing. To tell you the truth, I cannot quite forgive you for putting my father in this position, even if he was weak enough to allow you to do so."

"There is something in what you say considered from the point of view of a punctiliously honest man, though it is an argument that I have never had advanced to me before," replied Mr. Levinger drily. "However, let me disabuse your mind: the last loan of ten thousand, which, I take it, leaving interest out of the count, would about cover my loss were the security to be realised to-day, was not made at the instance of your father, who I believe did not even know of it at the time. If you want the facts, it was made because of the earnest prayer of your brother Reginald, who declared that this sum was necessary to save the family from immediate bankruptcy. It is a painful thing to have to say, but I have since discovered that it was your brother himself who needed the money, very little of which found its way into Sir Reginald's pocket."

At this point Henry rose and, turning his back, pretended to refill his pipe. He dared not trust himself to speak, lest he might say words that should not be uttered of the dead; nor did he wish to show the shame which was written on his face. Mr. Levinger saw the movement and understood it. Dropping the subject of Reginald's delinquencies, he went on:

"You blame me, Captain Graves, for having acted as no business man should act, and for putting temptation in the path of the weak. Well, in a sense I am still a business man, but I am not an usurer, and it is possible that I may have had motives other than those of my own profit. Let us put a hypothetical case: let us suppose that once upon a time, many years ago, a young fellow of good birth, good looks and fair fortune, but lacking the advantages of careful education and not overburdened with principle, found himself a member of one of the fastest and most expensive regiments of Guards. Let us suppose that he lived--well, as such young men have done before and since--a life of extravagance and debauchery that very soon dissipated the means which he possessed. In due course this young man would not improbably have betaken himself to every kind of gambling in order to supply his pocket with money. Sometimes he would have won, but it is possible that in the end he might have found himself posted as a defaulter because he was unable to pay his racing debts, and owing as many thousands at cards as he possessed five-pound notes in the world.

"Such a young man might not unjustly have hard things said of him; his fellow-officers might call him a scamp and rake up queer stories as to his behaviour in financial transactions, while among outsiders he might be branded openly as no better than a thief. Of course the regimental career of this imaginary person would come to a swift and shameful end, and he would find himself bankrupt and dishonoured, a pariah unfit for the society of gentlemen, with no other opening left to him than that which a pistol bullet through the head can offer. It is probable that such a man, being desperate and devoid of religion, might determine to take this course. He might also be in the act of so doing, when he, who thought himself friendless, found a friend, and that friend one by whom of all others he had dealt ill.

"And now let us suppose for the last time that this friend threw into the fire before his eyes that bankrupt's I.O.U.'s, that he persuaded him to abandon his mad design of suicide, that he assisted him to escape his other creditors, and, finally, when the culprit, living under a false name, was almost forgotten by those who had known him, that he did his best to help him to a fresh start in life. In such a case, Captain Graves, would not this unhappy man owe a debt of gratitude to that friend?"

Mr. Levinger had begun the putting of this "strange case" quietly enough, speaking in his usual low and restrained voice; but as he went on he grew curiously excited--so much so, indeed, that, notwithstanding his lameness, he rose from his chair, and, resting on his ebony stick, limped backwards and forwards across the room--while the increasing clearness and emphasis of his voice revealed the emotion under which he was labouring. As he asked the question with which his story culminated, he halted in his march directly opposite to the chair upon which Henry was sitting, and, leaning on his stick, looked him in the face with his piercing brown eyes.

"Of course he would," answered Henry quietly.

"Of course he would," repeated Mr. Levinger. "Captain Graves, that story was my story, and that friend was your father. I do not say that it is all the story, for there are things which I cannot speak of, but it is some of it--more, indeed, than is known to any living man except Sir Reginald. Forgiving me my sins against him, believing that he saw good in me, your father picked me out of the mire and started me afresh in life. When I came to these parts an unknown wanderer, he found me work; he even gave me the agency of this property, which I held till I had no longer any need of it. I have told you all this partly because you are your father's son, and partly because I have watched you and followed your career from boyhood, and know you to be a man of the strictest honour, who will never use my words against me.

"I repeat that I have not told you everything, for even since those days I have been no saint--a man who has let his passions run riot for years does not grow good in an hour, Captain Graves. But I trust that you will not think worse of me than I deserve, for it still pains me to lose the good opinion of an upright man. One thing at least I have done--though I borrowed from my daughter to do it, and pinched myself till I am thought to be miserly--at length I have paid back all those thousands that I owed, either to my creditors or to their descendants; yes, not a month ago I settled the last and heaviest claim. And now, Captain Graves, you will understand why I have advanced moneys beyond their value upon mortgage of the Rosham estates. Your father, who has long forgotten or rather ignored the past, believes it to have been done in the ordinary way of business; I have told you the true reason."

"Thank you," said Henry. "Of course I shall respect your confidence. It is not for me to judge other men, so I hope that you will excuse my making any remarks about it. You have behaved with extreme generosity to my father, but even now I cannot say that I think your conduct was well advised: indeed, I do not see how it makes the matter any better for us. This money belongs to you, or to your daughter,"--here Henry thought that Mr. Levinger winced a little--"and in one way or another it must be paid or secured. I quite understand that you do not wish to force us into bankruptcy, but it seems

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