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If his eye strayed to one of the walls, he saw a map of the West Indies; if to another, it fell upon a map of St. Kitts; if to the third, there was before him a plan of a sugar estate on that little island. Here he sat for certain hours of the solid day, issuing orders to clerks, receiving commercial callers, studying trade journals in sundry languages—often reading some book which had no obvious reference to the sugar-refining industry. It was not Will's ideal of life, but hither he had suffered himself to be led by circumstance, and his musings suggested no practicable issue into a more congenial world.

      The death of his father when he was sixteen had left him with a certain liberty for shaping a career. What he saw definitely before him was a small share in the St. Kitts property of Messrs. Sherwood Brothers, a small share in the London business of the same firm, and a small sum of ready money—these things to be his when he attained his majority. His mother and sister, who lived in a little country house down in Huntingdonshire, were modestly but securely provided for, and Will might have gone quietly on with his studies till he could resolve upon a course in life. But no sooner was he freed from paternal restraint than the lad grew restive; nothing would please him but an adventure in foreign lands; and when it became clear that he was only wasting his time at school, Mrs. Warburton let him go to the West Indies, where a place was found for him in the house of Sherwood Brothers. At St. Kitts, Will remained till he was one-and-twenty. Long before that, he had grown heartily tired of his work disgusted with the climate, and oppressed with home sickness, but pride forbade him to return until he could do so as a free man.

      One thing this apprenticeship to life had taught him—that he was not made for subordination. "I don't care how poor I am," thus he wrote to his mother, "but I will be my own master. To be at other people's orders brings out all the bad in me; it makes me sullen and bearish, and all sorts of ugly things, which I certainly am not when my true self has play. So, you see, I must find some independent way of life. If I had to live by carrying round a Punch and Judy show, I should vastly prefer it to making a large income as somebody's servant."

      Meanwhile, unfortunately for a young man of this temperament, his prospects had become less assured. There was perturbation in the sugar world; income from St. Kitts and from Whitechapel had sensibly diminished, and it seemed but too likely, would continue to do so. For some half-year Will lived in London, "looking about him," then he announced that Godfrey Sherwood, at present sole representative of Sherwood Brothers, had offered him an active partnership in Little Ailie Street, and that he had accepted it. He entered upon this position without zeal, but six months' investigation had taught him that to earn money without surrendering his independence was no very easy thing; he probably might wait a long time before an opening would present itself more attractive than this at the sugar-refinery.

      Godfrey Sherwood was a schoolfellow of his, but some two or three years older; much good feeling existed between them, their tastes and tempers having just that difference in similarity which is the surest bond of friendship. Judged by his talk, Sherwood was all vigour, energy, fire; his personal habits, on the other hand, inclined to tranquillity and ease—a great reader, he loved the literature of romance and adventure, knew by heart authors such as Malory and Froissart, had on his shelves all the books of travel and adventure he could procure. As a boy he seemed destined to any life save that of humdrum commerce, of which he spoke with contempt and abhorrence; and there was no reason why he should not have gratified his desire of seeing the world, of leading what he called "the life of a man." Yet here he was, sitting each day in a counting-house in Whitechapel, with nothing behind him but a few rambles on the continent, and certainly with no immediate intention of going far afield. His father's death left him in sole command of the business, and his reasonable course would have been to retire from it as soon as possible, for foreign competition was making itself felt in the English trade, and many firms more solidly established than that in Little Ailie Street had either come to grief or withdrawn from the struggle. But Godfrey's inertia kept him in the familiar routine, with day-to-day postponement of practical decision. When Warburton came back from St. Kitts, and their friendship was renewed, Godfrey's talk gave full play to his imaginative energies. Yes, yes, the refining business was at a bad pass just now, but this was only temporary; those firms that could weather the storm for a year or two longer would enter upon a time of brilliant prosperity. Was it to be supposed that the Government would allow a great industry to perish out of mere regard for the fetish of Free Trade? City men with first-hand information declared that "measures" were being prepared; in one way or another, the English trade would be rescued and made triumphant over those bounty-fed foreigners.

      "Hold on?" cried Sherwood. "Of course I mean to hold on. There's pleasure and honour in the thing. I enjoy the fight. I've had thoughts of getting into Parliament, to speak for sugar. One might do worse, you know. There'll be a dissolution next year, certain. First-rate fun, fighting a constituency. But in that case I must have a partner here—why that's an idea. How would it suit you? Why not join me?"

      And so the thing came about. The terms which Godfrey offered were so generous that Will had to reduce them before he accepted: even thus, he found his income, at a stroke, all but doubled. Sherwood, to be sure, did not stand for Parliament, nor was anything definite heard about that sugar-protecting budget which he still believed in. In Little Ailie Street business steadily declined.

      "It's a disgrace to England!" cried Godfrey. "Monstrous that not a finger should be lifted to save one of our most important industries. You, of course, are free to retire at any moment, Will. For my own part, here I stand, come what may. If it's ruin, ruin let it be. I'll fight to the last. A man owes me ten thousand pounds. When I recover it, and I may any day—I shall put every penny into the business."

      "Ten thousand pounds!" exclaimed Warburton in astonishment. "A trade debt, do you mean?"

      "No, no. A friend of mine, son of a millionaire, who got into difficulties some time ago, and borrowed of me to clear himself. Good interest, and principal safe as Consols. In a year at most I shall have the money back, and every penny shall go into the business."

      Will had his private view of the matter, and not seldom suffered a good deal of uneasiness as he saw the inevitable doom approach. But already it was too late to withdraw his share from the concern; that would have been merely to take advantage of Sherwood's generosity, and Will was himself not less chivalrous. In Godfrey's phrase, they continued "to fight the ship," and perhaps would have held out to the moment of sinking, had not the accession of the Liberals to power in the spring of this present year caused Sherwood so deep a disgust that he turned despondent and began to talk of surrender to hopeless circumstance.

      "It's all up with us, Will. This Government spells ruin, and will count it one of its chief glories if we come to grief. But, by Heaven, they shan't have that joy. We'll square up, quietly, comfortably, with dignity. We'll come out of this fight with arms and baggage. It's still possible, you know. We'll sell the St. Kitts estate to the Germans. We'll find some one to buy us up here—the place would suit a brewer. And then—by Jove! we'll make jam."

      "Jam?"

      "Isn't it an idea? Cheap sugar has done for the refiners, but it's a fortune for the jam trade. Why not put all we can realize into a jam factory? We'll go down into the country; find some delightful place where land is cheap; start a fruit farm; run up a building. Doesn't it take you, Will? Think of going to business every day through lanes overhung with fruit-tree blossoms! Better that than the filth and stench and gloom and uproar of Whitechapel—what? We might found a village for our workpeople—the ideal village, perfectly healthy, every cottage beautiful. Eh? What? How does it strike you, Will?"

      "Pleasant. But the money?"

      "We shall have enough to start; I think we shall. If not, we'll find a moneyed man to join us."

      "What about that ten thousand pounds?" suggested Warburton.

      Sherwood shook his head.

      "Can't get it just yet. To tell you the truth, it depends on the death of the man's father. No, but if necessary, some one will easily be found. Isn't the idea magnificent? How it would rile the Government if they heard of it! Ho, ho!"

      One could never be sure how far Godfrey was serious when he talked like this; the humorous impulse so blended with the excitability of his imagination, that people who knew him little and heard him talking at large thought him

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