s solitary extravagance, not a costly one,
however, as he never smoked cigars, but indulged only in a democratic
clay pipe.

John Miles threw himself on the ground between Tom and his Scotch
friend, and watched complacently the wreaths of smoke as they curled
upwards.

"Tom, you ought to smoke," he said. "You don't know how much enjoyment
you lose."

"Don't tempt the lad," said Ferguson. "It's a bad habit."

"You smoke yourself."

"That is true, but it isn't well for a growing boy. It can do him no
good."

"I smoked before I was as old as Tom."

"So did I, but I wish I had not."

"Well, perhaps you're right, but it's a comfort when a man's tired or
out of spirits."

"I am not troubled in that way," said Tom. "I mean with being out of
spirits."

"Youth is a hopeful age," said the Scotchman. "When we are young we are
always hoping for something good to befall us."

"And when one is older, how is it, Mr. Ferguson?"

"We fear ill more than we hope for good," he replied.

"Then I want to remain young as long as I can."

"A good wish, Tom. Some men are always young in spirit; but those that
have seen the evil there is in the world find it harder to be hopeful."

"You speak as if you had had experience of the evil, Mr. Ferguson."

"So I have," answered the Scotchman slowly. Then, after a pause, "I will
tell you about it: it's no secret."

"Not if it is going to pain you."

"Oh, the pain is past. It's only a matter of money, and those wounds
heal."

"Only a matter of money!" said John Miles to himself. "I must have
misjudged Ferguson. I thought money was all in all with him. I did not
think he would speak so lightly of it."

"When I was a young man," Ferguson began, "my father died, leaving me a
thousand pounds, and a small annuity to my mother. With this money I
felt rich, but I knew it would not support me, nor was I minded to be
idle. So I began to look about me, to consider what business I had best
go into, when a young man, about my own age, a clerk in a mercantile
house, came to me and proposed a partnership. He was to put in five
hundred pounds, and contribute his knowledge of business, which was
greater than mine. He was a young man of good parts, and had a brisk,
pleasant way with him, that made him a favorite in business circles. I
thought it was a good chance, and, after taking a little time for
thought, agreed to his proposal. So the firm of McIntire and Ferguson
was formed. We went into