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 discuss in hushed tones the consequences of Beaufort's dishonour and of his wife's unjustifiable action.

Mrs. Lovell Mingott, who had been in another room writing notes, presently reappeared, and added her voice to the discussion. In their day, the elder ladies agreed, the wife of a man who had done anything disgraceful in business had only one idea: to efface herself, to disappear with him. "There was the case of poor Grandmamma Spicer; your great-grandmother, May. Of course," Mrs. Welland hastened to add, "your great-grandfather's money difficulties were private—losses at cards, or signing a note for somebody—I never quite knew, because Mamma would never speak of it. But she was brought up in the country because her mother had to leave New York after the disgrace, whatever it was: they lived up the Hudson alone, winter and summer, till Mamma was sixteen. It would never have occurred to Grandmamma Spicer to ask the family to 'countenance' her, as I understand Regina calls it; though a private disgrace is nothing compared to the scandal of ruining hundreds of innocent people."

"Yes, it would be more becoming in Regina to hide her own countenance than to talk about other people's," Mrs. Lovell Mingott agreed. "I understand that the emerald necklace she wore at the Opera last Friday had been sent on approval from Ball and Black's in the afternoon. I wonder if they'll ever get it back?"

Archer listened unmoved to the relentless chorus. The idea of absolute financial probity as the first law of a gentleman's code was too deeply ingrained in him for sentimental considerations to weaken it. An adventurer like Lemuel Struthers might build up the millions of his Shoe Polish on any number of shady dealings; but unblemished honesty was the noblesse oblige of old