ave been thinking, and though the idle, reckless young
dogs do not deserve it--do you hear, you two? I say you don't deserve
it."

"Joe doesn't," said Gwyn, with a mischievous grin at his companion.

"No, not at all," said Joe. "I'm nearly as bad as Gwyn."

"Ah, you're a nice pair," said the Colonel. "But we, as fathers, must,
I suppose, give you both a good preparation for the army--eh, Jollivet?"

"Yes, of course that must be done," said the Major.

"Exactly! Well, I've been thinking a great deal about it this last day
or two, and I have quite come to the conclusion that I must do
something."

"Well, do something," said the Major, testily; "don't go and fling your
money down a mine."

"But there are mines and mines, Jollivet, old fellow. If I were asked
to join in some company to buy a mine or open a new one, I should of
course hesitate; but in this case I have one of my own, one that is
undoubtedly very ancient, and must have had a great deal of tin or
copper or both in it."

"No doubt, and it was all dug out and sold long enough ago. The old
people had the oyster, and you've got the shell."

"I don't know so much about that, sir," said the Colonel, earnestly. "I
brought home a piece of old ore that was dug out, and it's very rich in
tin. There's plenty of room down below for there to be an enormous
amount, and as the only outlay will be for machinery for pumping and
raising the ore, I have made up my mind to start a company of the owners
to work that mine."

"And lose all your money."

"I hope not. The mine is already sunk, and I believe when it is pumped
dry we shall find that there are drifts with plenty of ore in them,
waiting to be worked--plenty to pay well for the getting."

"And if there turns out to be none at all?"

"Well, that's the very worst way of looking at it. If it turns out as
bad as that, I shall have spent so many hundred pounds in new pumping
machinery, and have it to sell for what it will fetch to some fresh
company."

"But you would only get half the value."

"If I got half the value, I should be satisfied. Then the loss would
not be so very severe."

"Severe enough to make you repent it to the last day of your life," said
the Major, shortly.

"I hope not. Money is not worth so much repentance."

"But you talk as if you really meant to do this, Pendarve," said the
Major, warmly.

"I do. I have quite made up my mind."

Gwyn looked at his father, with his e