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Emily, with an interest I wished she had not manifested.

"It is also applied to pearls--there are pearls of what is called the 'white water,' and they are of the sort most prized in Europe. The 'yellow water' are more esteemed among nations of darker skins; I suppose that is the secret. Yes, I think if you send this necklace to London, Wallingford, you will get six or eight hundred pounds for it."

"I shall never sell it, sir--at least, not as long as I can avoid it."

I saw that Emily looked at me, with an earnestness for which I could not account.

"Not sell it!--" repealed her father--"Why, what in the name of Neptune can you do with such an ornament?"

"Keep it. It is strictly my own. I brought it up, from the bottom of the sea, with my own hands; removed the pearls from what the editors would call their 'native homes' myself, and I feel an interest in them, that I never could feel in any ornament that was purchased."

"Still, this will prove rather an expensive taste. Pray, What interest do you obtain for money, in your part of the world, Wallingford?"

"Six per cent., in New York, sir, perhaps, on the better sort of permanent securities."

"And how much is sixty pounds sterling, when turned into dollars?"

"We usually say five for one, though it is not quite that; from two hundred and eighty to two hundred and ninety, all things considered--though two hundred and sixty-six, nominally, or thereabouts."

"Well, even two hundred and sixty-six dollars a year, is a good deal for a young man like you to pay, for the pleasure of saying he owns a pearl necklace that he cannot use."

"But it cost me nothing, sir, and of course I can lose nothing by it."

"I rather think you will lose what I tell you, if the ornament can be sold for that sum. When a man has property from which he might derive an income, and does not, he is, in one sense, and that the most important, a loser."

"I have a sister, Major Merton; I may possibly give it to her--or, should I marry, I would certainly give it to my wife."

I could see a smile struggling about the mouth of the major, which I was then too young, and I may add, too American, to understand. The incongruity of the wife of a man of two thousand, or five and twenty hundred dollars a-year, wearing two years' income round her neck, or of being magnificent in only one item of her dress, household, or manner of living, never occurred to my mind. We can all laugh when we read of Indian chiefs wearing uniform-coats, and cocked-hats, without any other articles of attire; but we cannot imagine inconsistencies in our own cases, that are almost as absurd in the eyes of highly sophisticated and conventional usages. To me, at that age, there was nothing in the least out of the way, in Mrs. Miles Wallingford's wearing the necklace, her husband being unequivocally its owner. As for Emily, she did not smile, but continued to hold the necklace in her own very white, plump hand, the pearls making the hand look all the prettier, while the hand assisted to increase the lustre of the pearls. I ventured to ask her to put the necklace on her neck. She blushed slightly, but she complied.

"Upon my word, Emily," exclaimed the gratified father, "you become each other so well, that I am losing a prejudice, and begin to believe even a poor man's daughter may be justified in using such an ornament."

The sight was certainly sufficient to justify anything of the sort. The dazzling whiteness of Miss Merlon's skin, the admirable outlines of her throat and bust, and the flush which pleasure gave her cheeks, contributed largely to the beauty of the picture. It would have been difficult to say, whether the charms of the woman ornamented the pearls, or those of the pearls ornamented the woman! I remember I thought, at the time, my eyes had never dwelt on any object more pleasing, than was Miss Merton during the novelty of that spectacle. Nor did the pleasure cease, on the instant; for I begged her to continue to wear the necklace during the remainder of the day; a request with which she had the good nature to comply. Which was most gratified by this exhibition, the young lady or myself, it might be difficult to say; for there is a mutual satisfaction in admiring, and in being admired.

When I went into the cabin to say good-night, I found Emily Merton, with the necklace in her hand, gazing at it, by the light of a powerful lamp, with eyes as liquid and soft as the pearls themselves. I stood still to admire her; for never before had I seen her so bewitchingly beautiful. Her countenance was usually a little wanting in intellectual expression, though it possessed so much of that which I have described as angelic ; but, on this occasion, it seemed to me , to be full of ideas. Can it be possible, whispered conceit--and what very young man is entirely free from it--can it be possible, she is now thinking how happy a woman Mrs. Miles Wallingford will one day be?--Am I in any manner connected with that meditating brow, that reflecting air, that fixed look, that pleased and yet doubting expression?

"I was about to send for you, Captain Wallingford," said Emily, the instant she saw me, and confirming my conceited conjectures, by blushing deeper than I had seen her before, in the whole of that blushing, sensitive, and enjoyable day; "about to send for you, to take charge of your treasure."

"And could you not assume that much responsibility, for a single night?"

"'T would be too great--it is an honour reserved for Mrs. Wallingford, you know."

This was smilingly said, I fancied sweetly and kindly, and yet it was said not altogether without something that approached to an Γ©quivoque ; a sort of manner that the deep, natural feeling of Grace, and needle-like truth of Lucy had rendered unpleasant to me. I took the necklace, shook the young lady's hand for good-night--we always did that, on meeting and parting for the day--paid my compliments to the father, and withdrew.

I was dressing next morning, when Neb came bolting into my state-room, with his Clawbonny freedom of manner, his eyes looking lobsters, and his necklace of pearl, glittering between a pair of lips that might have furnished a cannibal two famous steaks. As soon as fairly established in command, I had brought the fellow aft, berthing him in the steerage, in order to have the benefit of more of his personal service than I could obtain while he was exclusively a foremast Jack. Still, he kept his watch; for it would have been cruel to deprive, him of that pleasure.

"Oh! Masser Mile!" exclaimed the black, as soon as he could speak; "'e boat!--'e boat!"


"What of the boat?--Is any one overboard?"

"'E whale-boat, sir!--Poor Captain Marble--'e whale-boat, sir!"

"I understand you, Neb--go on deck, and desire the officer of the watch to heave-to the ship, as soon as it is proper; I will come up, the instant I can."

Here, then, I thought, Providence has brought us on the track of the unfortunate whale-boat; and we shall doubtless see the mutilated remains of some of our old companions--poor Marble, doubtless, from what Neb said--well, the will of God be done. I was soon dressed; and, as I went up the cabin-ladder, the movement on deck denoted the nature of the excitement that now prevailed generally, in the ship. Just as I reached the quarter-deck, the main-yard swung round, and the sails were brought aback. The whole crew was in commotion, and it was some little time before I could learn the cause.

The morning was misty, and the view round the ship, until within a few minutes, had been confined to a circle of less than a mile in diameter. As the sun rose, however, the mist broke away gradually, and then the watch caught a view of the whale-boat mentioned by Neb. Instead of being floating about on the ocean, with the remains of its unfortunate crew lying in its bottom, as I had expected to see it, when I caught the first glimpse of the unlooked-for object, it was not a mile distant, pulling briskly for us, and containing not only a full, but a strong and an animated crew.

Just at that instant, some one cried out "Sail-ho!" and sure enough, a ship was seen some four or five miles to leeward, a whaler evidently, turning to windward, under easy canvass, in order to rejoin her boat, from which she had lately been separated by the night and the fog. This, then, was no more than a whaler and her boat; and, on sweeping the horizon with a glass, Talcott soon discovered, a mile to windward of the boat, a dead whale, with another boat lying by it, in waiting for the approach of the ship, which promised to fetch as far to windward, on its next tack.

"They desire to speak us, I suppose, Mr. Talcott," I remarked. "The ship is probably an American; it is likely the captain is in the boat, and he wishes to send letters or messages home."

A shout came from Talcott, at the next instant--then he cried out--

"Three cheers, my lads; I see Captain Marble in that boat, as plainly as I see the boat itself!"

The cheers that followed, were a spontaneous burst of joy. They reached the approaching boat, and gave its inmate an earnest of his reception. In three more minutes. Marble was on the deck of his old ship. For myself, I was unable to speak; nor was poor Marble much better off though more prepared for the interview.

"I knew you, Miles; I knew you, and the bloody 'Pretty Poll,'" he at last got out, the tears running down his cheeks like water, "the moment the fog lifted, and gave me a fair glimpse. They've got her--yes--d----n her--God bless her, I mean--they've got her, and the bloody Frenchmen will not go home with that feather in their caps. Well, it couldn't have happened to a cleverer fellow; and I'm just as happy as if I had done it myself!"

There he stood, sound, safe, and sturdy as ever; and the four Sandwich Islanders were all in the boat, just as well as if they had never quitted the ship. Every man of the crew had to shake hands with Marble, congratulations were to be exchanged, and a turbulent quarter of an hour passed, before it was possible to get a coherent account from the man of what had befallen him. As soon as practicable, however, he motioned for silence, and told his own story aloud, for the benefit of all hands.

"You know how I left you, men," Marble commenced, swabbing his eyes and cheeks, and struggling to speak with something like an appearance of composure, "and the errand on which I went. The last I saw of you was about half an hour before the gust broke. At that time I was so near the ship, as to make out she was a whaler; and, nothing doubting of being in sight of you in the morning, I thought it safer to pull alongside of her , than to try to hunt for the schooner in the dark. I found an
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