eady!"

Then turning to Cadwallader, he says:

"If all goes well, we shall make Panama in less than two days. We might
do it in one, if we could but set sail enough. Anyhow, I think old
Bracebridge will stay for us at least a week. Ah! I wish that were all
we had to trouble us. To think they're gone--lost to us--for ever!"

"Don't say that, Ned. There's still a hope we may find them."

"And found, what then! You needn't answer. Will; I don't wish you to
speak of it. I daren't trust myself to think of it. Carmen Montijo--my
betrothed--captive to a crew of pirate cut-throats--oh!"

Cadwallader is silent. He suffers the same agony thinking of Inez.

For a time the picture remains before their minds, dark as their
gloomiest fancies can make it. Then across it shoot some rays of hope,
saddened, but sweet, for they are thoughts of vengeance. Cadwallader
first gives expression to it.

"Whatever has happened to the girls, we shall go after them anyhow. And
the robbers, we _must_ find them."

"Find, and punish them," adds Crozier. "That we surely shall. If it
costs all my money, all the days of my life, I'll revenge the wrongs of
Carmen Montijo."

"And I those of Inez Alvarez."

For a while they stand silently brooding upon that which has brought
such black shadow over their hearts. Then Cadwallader says:

"The scoundrels must have plotted it all before leaving San Francisco;
and shipped aboard the Chilian vessel for the express purpose of getting
this gold. That's Don Gregorio's idea of it, borne out by what he heard
from that one of them he knew there--Rocas the name, he says."

"It seems probable--indeed certain," rejoins Crozier. "Though it don't
much matter how, or when, they planned the damnable deed. Enough that
they've done it. But to think of Harry Blew turning traitor, and taking
part with them! That is to me the strangest thing of all, frightfully,
painfully, strange."

"But do you believe he _has_ acted in such a manner?"

"How can one help believing it? What Don Gregorio heard leaves no
alternative. He went off in the boat along with the rest; besides
saying words which prove he went willingly. Only to think of such black
ingratitude! Cadwallader, I'd as soon have thought of suspecting
yourself!"

"His conduct, certainly, seems incredible. I believed Blew to be a
thoroughly honest fellow. No doubt the gold corrupted him; as it has
many a better man. But let's think no m