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Rh please consider our position. It is really dangerous; we were not the only people to see your schooner off Waimanolo.”

“Mr. Fowler,” I replied, “I was not born yesterday. Will you allow me to express an opinion, in which I may be quite wrong, but to which I am entirely wedded? If the Custom House officers had been coming, they would have been here now. In other words, somebody is working the oracle, and (for a good guess) his name is Fowler.”

Both men laughed loud and long; and being supplied with another bottle of Longhurst's champagne, suffered the captain and myself to leave them without further word.

I gave Nares the correspondence, and he skimmed it through.

“Now, captain,” said I, “I want a fresh mind on this. What does it mean?”

“It's large enough text,” replied the captain. “It means you're to stake your pile on Speedy, hand him over all you can, and hold your tongue. I almost wish you hadn't shown it me,” he added wearily. “What with the specie from the wreck and the opium money, it comes to a biggish deal.”

“That's supposing that I do it?” said I.

“Exactly,” said he, “supposing you do it.”

“And there are pros and cons to that,” I observed.

“There's San Quentin, to start in with,” said the captain; “and suppose you clear the penitentiary, there's the nasty taste in the mouth. The figure's big enough to make bad trouble, but it's not big enough to be picturesque; and I should guess a man always feels kind of small who has sold himself under six ciphers. That would be my way, at least; there's an excitement about a million that might carry me on; but the other way, I should feel kind of lonely when I woke in bed. Then there's Speedy. Do you know him well?”