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to Alwyn and bade him show her his newest gauds.

      While with a curiosity and eagerness that seemed almost childlike Elizabeth turned over rings, chains, and brooches, scarcely listening to Alwyn's comments on the lustre of the gems or the quaintness of the fashion, the duchess disappeared for a moment, and returned with the Princess Margaret.

      This young princess had much of the majestic beauty of her royal brother; but, instead of the frank, careless expression so fascinating in Edward, there was, in her full and curved lip and bright large eye, something at once of haughtiness and passion, which spoke a decision and vivacity of character beyond her years.

      "Choose for thyself, sweetheart and daughter mine," said the duchess, affectionately placing her hand on Margaret's luxuriant hair, "and let the noble visitor we await confess that our rose of England outblooms the world."

      The princess coloured with complaisant vanity at these words, and, drawing near the queen, looked silently at a collar of pearls, which Elizabeth held.

      "If I may adventure so to say," observed Alwyn, "pearls will mightily beseem her highness's youthful bloom; and lo! here be some adornments for the bodice or partelet, to sort with the collar; not," added the goldsmith, bowing low, and looking down,—"not perchance displeasing to her highness, in that they are wrought in the guise of the fleur de lis—"

      An impatient gesture in the queen, and a sudden cloud over the fair brow of Margaret, instantly betokened to the shrewd trader that he had committed some most unwelcome error in this last allusion to the alliance with King Louis of France, which, according to rumour, the Earl of Warwick had well-nigh brought to a successful negotiation; and to convince him yet more of his mistake, the duchess said haughtily, "Good fellow, be contented to display thy goods, and spare us thy comments. As for thy hideous fleur de lis, an' thy master had no better device, he would not long rest the king's jeweller."

      "I have no heart for the pearls," said Margaret, abruptly; "they are at best pale and sicklied. What hast thou of bolder ornament and more dazzling lustrousness?"

      "These emeralds, it is said, were once among the jewels of the great House of Burgundy," observed Nicholas, slowly, and fixing his keen, sagacious look on the royal purchasers.

      "Of Burgundy!" exclaimed the queen.

      "It is true," said the Duchess of Bedford, looking at the ornament with care, and slightly colouring,—for in fact the jewels had been a present from Philip the Good to the Duke of Bedford, and the exigencies of the civil wars had led, some time since, first to their mortgage, or rather pawn, and then to their sale.

      The princess passed her arm affectionately round Jacquetta's neck, and said, "If you leave me my choice, I will have none but these emeralds."

      The two elder ladies exchanged looks and smiles. "Hast thou travelled, young man?" asked the duchess.

      "Not in foreign parts, gracious lady, but I have lived much with those who have been great wanderers."

      "Ah, and what say they of the ancient friends of mine House, the princes of Burgundy?"

      "Lady, all men agree that a nobler prince and a juster than Duke Philip never reigned over brave men; and those who have seen the wisdom of his rule, grieve sorely to think so excellent and mighty a lord should have trouble brought to his old age by the turbulence of his son, the Count of Charolois."

      Again Margaret's fair brow lowered, and the duchess hastened to answer, "The disputes between princes, young man, can never be rightly understood by such as thou and thy friends. The Count of Charolois is a noble gentleman; and fire in youth will break out. Richard the Lion Hearted of England was not less puissant a king for the troubles he occasioned to his sire when prince."

      Alwyn bit his lip, to restrain a reply that might not have been well received; and the queen, putting aside the emeralds and a few other trinkets, said, smilingly, to the duchess, "Shall the king pay for these, or have thy learned men yet discovered the great secret?"

      "Nay, wicked child," said the duchess, "thou lovest to banter me; and truth to say, more gold has been melted in the crucible than as yet promises ever to come out of it; but my new alchemist, Master Warner, seems to have gone nearer to the result than any I have yet known. Meanwhile, the king's treasurer must, perforce, supply the gear to the king's sister."

      The queen wrote an order on the officer thus referred to, who was no other than her own father, Lord Rivers; and Alwyn, putting up his goods, was about to withdraw, when the duchess said carelessly, "Good youth, the dealings of our merchants are more with Flanders than with France, is it not so?"

      "Surely," said Alwyn; "the Flemings are good traders and honest folk."

      "It is well known, I trust, in the city of London, that this new alliance with France is the work of their favourite, the Lord Warwick," said the duchess, scornfully; "but whatever the earl does is right with ye of the hood and cap, even though he were to leave yon river without one merchant-mast."

      "Whatever be our thoughts, puissant lady," said Alwyn, cautiously, "we give them not vent to the meddling with state affairs."

      "Ay," persisted Jacquetta, "thine answer is loyal and discreet. But an' the Lord Warwick had sought alliance with the Count of Charolois, would there have been brighter bonfires than ye will see in Smithfield, when ye hear that business with the Flemings is surrendered for fine words from King Louis the Cunning?"

      "We trust too much to our king's love for the citizens of London to fear that surrender, please your Highness," answered Alwyn; "our king himself is the first of our merchants, and he hath given a gracious answer to the deputation from our city."

      "You speak wisely, sir," said the queen; "and your king will yet defend you from the plots of your enemies. You may retire."

      Alwyn, glad to be released from questionings but little to his taste, hastened to depart. At the gate of the royal lodge, he gave his caskets to the servitors who attended him, and passing slowly along the courtyard, thus soliloquized:

      "Our neighbours the Scotch say, 'It is good fishing in muddy waters;' but he who fishes into the secrets of courts must bait with his head. What mischief doth that crafty queen, the proud duchess, devise? Um! They are thinking still to match the young princess with the hot Count of Charolois. Better for trade, it is true, to be hand in hand with the Flemings; but there are two sides to a loaf. If they play such a trick on the stout earl, he is not a man to sit down and do nothing. More food for the ravens, I fear,—more brown bills and bright lances in the green fields of poor England!—and King Louis is an awful carle to sow flax in his neighbour's house, when the torches are burning. Um! Where is fair Marmaduke. He looks brave in his gay super-tunic. Well, sir and foster-brother, how fare you at court?"

      "My dear Nicholas, a merry welcome and hearty to your sharp, thoughtful face. Ah, man! we shall have a gay time for you venders of gewgaws. There are to be revels and jousts, revels in the Tower and jousts in Smithfield. We gentles are already hard at practice in the tilt-yard."

      "Sham battles are better than real ones, Master Nevile! But what is in the wind?"

      "A sail, Nicholas! a sail bound to England! Know that the Count of Charolois has permitted Sir Anthony Count de la Roche, his bastard brother, to come over to London, to cross lances with our own Sir Anthony Lord Scales. It is an old challenge, and right royally will the encounter be held."

      "Um!" muttered Alwyn, "this bastard, then, is the carrier pigeon.— And," said he, aloud, "is it only to exchange hard blows that Sir Anthony of Burgundy comes over to confer with Sir Anthony of England? Is there no court rumour of other matters between them?"

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