the owner in fee of the land."

"You talk like a lawyer!" said Croyden.

The stranger bowed. "I have devoted my spare moments to the study of
the law----"

"And how to avoid it," Croyden interjected.

The other bowed again.

"And also how to prevent _others_ from avoiding it," he replied,
suggestively. "Let us take up that phase, if it please you."

"And if it doesn't please?" asked Croyden, suppressing an inclination
to laugh.

"Then let us take it up, any way--unless you wish to forfeit your find
to the Government."

"Proceed!" said Croyden. "We are arriving, now, at the pith of the
matter. What do you offer?"

"We want an equal divide. We will take Parmenter's estimate and
multiply it by two, though jewels have appreciated more than that in
valuation. Fifty thousand pounds is two hundred and fifty thousand
dollars, which will total, according to the calculation, half a million
dollars,--one half of which amount you pay us as our share."

"Your share! Why don't you call it properly--blackmail?" Croyden
demanded.

"As you wish!" the other replied, airily. "If you prefer blackmail to
share, it will not hinder the contract--seeing that it is quite as
illegal on your part as on ours. Share merely sounds a little better
but either obtains the same end. So, suit yourself. Call it what you
will--but _pay_."

"Pay--or what?"

"Pay--or lose everything!" was the answer. "If you are not familiar
with the law covering the subject under discussion, let me enlighten
you."

"Thunder! how you do roll it out!" laughed Croyden. "Get on! man, get
on!"

"I was endeavoring to state the matter succinctly," the stranger
replied, refusing to be hurried or flustered. "The Common Law and the
practice of the Treasury Department provide, that all treasure found on
Government land or within navigable waters, is Government property. If
declared by the finder, immediately, he shall be paid such reward as
the Secretary may determine. If he does not declare, and is informed
on, the informer gets the reward. You will observe that, under the law,
you have forfeited the jewels--I fancy I do not need to draw further
deductions."

"No!--it's quite unnecessary," Croyden remarked. "Your fellow thieves
went into that phase (good word, I like it!) rather fully, down on
Greenberry Point. Unluckily, they fell into the hands of the police,
almost immediately, and we have not been able to continue the
conversation."

"I have the honor to