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 :who died within their territories; all of which are, however, equally doubtful. So long as it is not proved that La jáconde was taken to France by Leonardo, one might surmise that Francis I had caused it to be purchased for himself in Florence, perhaps after Fra Giocondo's death, knowing the fame and value of the portrait, of which there was sufficient evidence according to Vasari's statements, though made half a century later.'

This declaration, made by so eminent an authority, disposes once for all of the dogmatic statements, founded on hypothesis, made so widely upon the price paid by Francis I for the Mona Lisa portrait, and it exposes the complete uncertainty that exists as to the actual means and circumstances of its acquisition by him.

With the feasible and ingenious theories put forward by M. Reinach, I shall deal later when I come to the Cardinal of Aragon's visit to Leonardo, but in the meantime let us question the probability of the sale by Giocondo of his wife's portrait.

Francesco del Giocondo was a member of one of the most important families in Florence, who loved art and encouraged artists. He held high official positions and was in comfortable circumstances. In 1499 he was one of the twelve ' Buonomini,' in 1512 he was one of the 'Priori ' and was confirmed in the office in 1524. His wife was much younger than he was, she was handsome, and she died before him. He had the portrait painted—no doubt as a great favour—by his friend the master. Under these circumstances, is it likely he would have sold it before his death in 1528? Could the tittle-tattle that he sold it to Leonardo on behalf of Francis I for 4,000 gold crowns be true? It is scarcely possible, considering that Leonardo did not meet the French King until immediately before or at the Concordat held in Bologna in December, 1515, at which Pope Leo X was present; and Francis I returned to