ds on the
culprit's shoulders.

Yellow-cap had at first thought that to lose his head would serve the
Chancellor only right; but, as he was averse to bloodshed, and as his
own affairs seemed to be going on so prosperously, he resolved to be
merciful.

'Allow me a word,' he said. 'Since I have won the wager I thereby
succeed to King Ormund's throne and sceptre, and by virtue of the
power in me vested I do hereby extend to the Chancellor my royal
clemency. Loose him, halberdiers, on your allegiance!'

The halberdiers hesitated; and King Ormund, stroking his beard
meditatively, said, 'I'm not sure about this. You haven't been crowned
yet, you know.'

'At all events I am as much king as anybody here,' Yellow-cap replied
firmly. 'And meanwhile I advise anybody who cares to keep his head on
his shoulders to obey my commands.'

'I'll tell you what we might do,' exclaimed the King brightly: 'we
might draw lots----'

'No; I refuse to leave affairs of State to chance. But, in order to
oblige you in every way I can, I will appoint the Chancellor of the
Jingle referee. He shall decide whether or not his head is to be cut
off; and I promise to abide by his decision.'

'Hum!' said the King. 'Ha! well, that certainly does seem fair.
Besides, one must have some consideration for the poor donkey. I
agree, then. Now, Mr. Chancellor, what is your decision?'

'My head stays where it is, please your Majesty,' replied the
Chancellor promptly.

'It's astonishing what a run of luck you are having!' exclaimed the
King, turning to Yellow-cap, with a sigh of admiration. 'Pray, are you
as fortunate in love as you seem to be in everything else?'

At this question there rose in Yellow-cap's mind the picture of a
little square room, with bright walls and clean sanded floor; a churn
in one corner, and a brightly polished tin pan upon the dresser in
place of a looking-glass. In this room stood a lovely young girl, with
tears in her eyes, but a smile dimpling her rosy cheeks. She was
looking up with a loving glance at a young man, who was fastening
round her neck, by a bit of ribbon, the half of a spade guinea.
Yellow-cap passed his hand over his eyes: the picture had vanished.

'What are you dreaming about?' said the voice of Silvia in his ear.
'The half of a brass farthing is just as good, if you will only think
so. And you have not yet answered his Majesty's question.'

'Ah! I beg pardon,' muttered Yellow-cap. 'I--what did you say?
I