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Baron,” the latter greeted him. “I must speak frankly; and you must suffer it. My men are on the point of mutiny.”

M. de Rivarol considered him with a faint lift of the eyebrows.

“Captain Blood, I, too, will speak frankly; and you, too, must suffer it. If there is a mutiny, you and your captains shall be held personally responsible. The mistake you make is in assuming with me the tone of an ally, whereas I have given you clearly to understand from the first that you are simply in the position of having accepted service under me. Your proper apprehension of that fact will save the waste of a deal of words.”

Blood contained himself with difficulty. One of these fine days, he felt, that for the sake of humanity he must slit the comb of this supercilious, arrogant cockerel.

“You may define our positions as you please,” said he. “But I’ll remind you that the nature of a thing is not changed by the name you give it. I am concerned with facts; chiefly with the fact that we entered into definite articles with you. Those articles provide for a certain distribution of the spoil. My men demand it. They are not satisfied.”

“Of what are they not satisfied?” demanded the Baron.

“Of your honesty, M. de Rivarol.”

A blow in the face could scarcely have taken the Frenchman more aback. He stiffened, and drew himself up, his eyes blazing, his face of a deathly pallor. The clerks at the tables laid down their pens, and awaited the explosion in a sort of terror.

For a long moment there was silence. Then the great gentleman delivered himself in a voice of concentrated anger. “Do you really dare so much, you and the dirty thieves that follow you? God’s Blood! You shall answer to me for that word, though it entail a yet worse dishonour to meet you. Faugh!”

“I will remind you,” said Blood, “that I am speaking not for myself, but for my men. It is they who are not satisfied, they who threaten that unless satisfaction is afforded them, and promptly, they will take it.”

“Take it?” said Rivarol, trembling in his rage. “Let them attempt it, and⁠ ⁠…”

“Now don’t be rash. My men are within their rights, as you are aware. They demand to know when this sharing of the spoil is to take place, and when they are to receive the fifth for which their articles provide.”

“God give me patience! How can we share the spoil before it has been completely gathered?”

“My men have reason to believe that it is gathered; and, anyway, they view with mistrust that it should all be housed aboard your ships, and remain in your possession. They say that hereafter there will be no ascertaining what the spoil really amounts to.”

“But⁠—name of Heaven!⁠—I have kept books. They are there for all to see.”

“They do not wish to see account-books. Few of them can read. They want to view the treasure itself. They know⁠—you compel me to be blunt⁠—that the accounts have been falsified. Your books show the spoil of Cartagena to amount to some ten million livres. The men know⁠—and they are very skilled in these computations⁠—that it exceeds the enormous total of forty millions. They insist that the treasure itself be produced and weighed in their presence, as is the custom among the Brethren of the Coast.”

“I know nothing of filibuster customs.” The gentleman was disdainful.

“But you are learning quickly.”

“What do you mean, you rogue? I am a leader of armies, not of plundering thieves.”

“Oh, but of course!” Blood’s irony laughed in his eyes. “Yet, whatever you may be, I warn you that unless you yield to a demand that I consider just and therefore uphold, you may look for trouble, and it would not surprise me if you never leave Cartagena at all, nor convey a single gold piece home to France.”

“Ah, pardieu! Am I to understand that you are threatening me?”

“Come, come, M. le Baron! I warn you of the trouble that a little prudence may avert. You do not know on what a volcano you are sitting. You do not know the ways of buccaneers. If you persist, Cartagena will be drenched in blood, and whatever the outcome the King of France will not have been well served.”

That shifted the basis of the argument to less hostile ground. Awhile yet it continued, to be concluded at last by an ungracious undertaking from M. de Rivarol to submit to the demands of the buccaneers. He gave it with an extreme ill-grace, and only because Blood made him realize at last that to withhold it longer would be dangerous. In an engagement, he might conceivably defeat Blood’s followers. But conceivably he might not. And even if he succeeded, the effort would be so costly to him in men that he might not thereafter find himself in sufficient strength to maintain his hold of what he had seized.

The end of it all was that he gave a promise at once to make the necessary preparations, and if Captain Blood and his officers would wait upon him on board the Victorieuse tomorrow morning, the treasure should be produced, weighed in their presence, and their fifth share surrendered there and then into their own keeping.

Among the buccaneers that night there was hilarity over the sudden abatement of M. de Rivarol’s monstrous pride. But when the next dawn broke over Cartagena, they had the explanation of it. The only ships to be seen in the harbour were the Arabella and the Elizabeth riding at anchor, and the Atropos and the Lachesis careened on the beach for repair of the damage sustained in the bombardment. The French ships were gone. They had been quietly and secretly warped out of the harbour under cover of night, and three sails, faint and small, on the horizon to westward was all that remained to be seen of them. The absconding M. de Rivarol had gone off with the

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