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The frigate seemed unquestionably of foreign build; but the name Phœbe, written in large characters upon her stern over which from the peak of the mizzen-gaff streamed the flag of our country, was a warranty that whatever nationality her builders had boasted, she was now a British ship. She was somewhat old in years, as was manifested by her fore-mast that was stepped too far forward to please a critical eye, whilst her main-mast stood too far aft, its nearness to the mizzen-mast offending the gaze by an appearance of crowding. But she was very spick and span: as fresh as though just launched; her glossy, black sides trembled with the lustre of the sea; her canvas was spacious and superb in cut and set. The white line of hammock cloths delightfully contrasted with the gilt rope of beading which ran the length of her below the wash streak, and which terminated on the stern in a flourish of gilt scroll amid which the windows gleamed darkly like those of Old Harbour House duskily shining amidst the foliage of creepers.,

"This man Greyquill has managed to clap the thumb-screw of debt upon the hands of a pretty good few in our district," said Captain Acton. "But what's the use of locking up a man who owes you money? Leave him at large and you stand to be repaid; but flinging a man into a debtor's gaol, not because he won't pay, but because he can't pay, seems to me folly as monstrous as locking up a man because being unable to obtain work his wife and children come upon the parish. Look at the cost you put the country to on this account! There is the expense of the maintenance of the man in gaol, and there is the expense of the maintenance of the wife and children on the parish. Now, by leaving the man at large you give him the chance of obtaining a day's work.",

The August days were passing swiftly, each fragrant dawn marking another step towards that inevitable something which must be faced—the reopening of the Valley School by a new teacher. Billy's heart saddened as the fields ripened and the woods turned red and gold. For once his world was out of tune. Maurice Keeler was sick with measles and Elgin Scraff lay ill with the same disease. Taking advantage of this fact, the Sand-sharkers had grown bold, some of the more venturesome of them going even so far as to challenge Billy to "knock the chip off their shoulders.",

Mr. Johnston frowned darkly. "Walter Watland—what?" he repeated.

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"Has Admiral Lawrence been here?",

"Pupils will now take their seats," commanded the teacher, tinkling the bell on his desk. There was a hurried scramble as each boy and girl found his and her place.,

"What dye you want, boy?" Shipley's pipe was alight now and he peered down at Billy through the pungent smoke-wreaths.,

"It would be convenient to me if you would fix a day for the first payment if you cannot pay the whole," said Mr Greyquill.