h the several gradations of
wrapping-paper, brown-paper, foolscap and blotting-paper, and having set
the plan fairly at work, and got confidence thoroughly established,
the system was perfected by a coup de main,--'promises' in words were
substituted for all other coin. You see the advantage at a glance.
A monikin can travel without pockets or baggage, and still carry a
million; the money cannot be counterfeited, nor can it be stolen or
burned."

"But, my lord, does it not depreciate the value of property?"

"Just the contrary;--an acre that formerly could be bought for one
promise, would now bring a thousand."

"This, certainly, is a great improvement, unless frequent failures--"

"Not at all; there has not been a bankruptcy in Leaphigh since the law
was passed making promises a legal tender."

"I wonder no chancellor of the exchequer ever thought of this, at
home!"

"So much for your Great Breeches, Chatterino!" And then there was
another and a very general laugh. I never before felt so deep a sense of
national humility.

"As they have universities," cried another coxcomb, "perhaps this person
has attended one of them."

"Indeed, sir," I answered, "I am regularly graduated."

"It is not easy to see what he has done with his knowledge--for, though
my sight is none of the worst, I cannot trace the smallest sign of a
cauda about him."

"Ah!" Lord Chatterino good-naturedly exclaimed, "the inhabitants of
Great Breeches carry their brains in their heads."

"Their heads!"

"Heads!"

"That's excellent, by his majesty's prerogative! Here's civilization,
with a vengeance!"

I now thought that the general ridicule would overwhelm me. Two or three
came closer, as if in pity or curiosity; and, at last, one cried out
that I actually wore clothes.

"Clothes--the wretch! Chatterino, do all your human friends wear
clothes?"

The young peer was obliged to confess the truth; and then there arose
such a clamor as may be fancied took place among the peacocks, when they
discovered the daw among them in masquerade. Human nature could endure
no more; and bowing to the company, I wished Lord Chatterino, very
hurriedly, good-morning, and proceeded towards the tavern.

"Don't forget to step into Chatterino House, Goldencalf, before you
sail," cried my late fellow-traveller, looking over his shoulder, and
nodding in quite a friendly way towards me.

"King!" exclaimed Captain Poke. "That blackguard ate a whole
bread-loc