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the enjoyments that are offered to him and the lesser proportion to the cares, sacrifices, and sorrows. Had this young director been describing to his intimate friend the condition in which he found himself, he would have declared himself to be distracted by doubts, suspicions, and fears till his life was a burden to him. And yet they who were living with him at this time found him to be a very pleasant fellow, fond of amusement, and disposed to make the most of all the good things which came in his way. Under the auspices of Sir Felix Carbury he had become a member of the Beargarden, at which best of all possible clubs the mode of entrance was as irregular as its other proceedings. When any young man desired to come in who was thought to be unfit for its style of living, it was shown to him that it would take three years before his name could be brought up at the usual rate of vacancies; but in regard to desirable companions the committee had a power of putting them at the top of the list of candidates and bringing them in at once. Paul Montague had suddenly become credited with considerable commercial wealth and greater commercial influence. He sat at the same Board with Melmotte and Melmotteโ€™s men; and was on this account elected at the Beargarden without any of that harassing delay to which other less fortunate candidates are subjected.

Andโ โ€”let it be said with regret, for Paul Montague was at heart honest and well-conditionedโ โ€”he took to living a good deal at the Beargarden. A man must dine somewhere, and everybody knows that a man dines cheaper at his club than elsewhere. It was thus he reasoned with himself. But Paulโ€™s dinners at the Beargarden were not cheap. He saw a good deal of his brother directors, Sir Felix Carbury and Lord Nidderdale, entertained Lord Alfred more than once at the club, and had twice dined with his great chairman amidst all the magnificence of merchant-princely hospitality in Grosvenor Square. It had indeed been suggested to him by Mr. Fisker that he also ought to enter himself for the great Marie Melmotte plate. Lord Nidderdale had again declared his intention of running, owing to considerable pressure put upon him by certain interested tradesmen, and with this intention had become one of the directors of the Mexican Railway Company. At the time, however, of which we are now writing, Sir Felix was the favourite for the race among fashionable circles generally.

The middle of April had come, and Fisker was still in London. When millions of dollars are at stakeโ โ€”belonging perhaps to widows and orphans, as Fisker remarkedโ โ€”a man was forced to set his own convenience on one side. But this devotion was not left without reward, for Mr. Fisker had โ€œa good timeโ€ in London. He also was made free of the Beargarden, as an honorary member, and he also spent a good deal of money. But there is this comfort in great affairs, that whatever you spend on yourself can be no more than a trifle. Champagne and ginger-beer are all the same when you stand to win or lose thousandsโ โ€”with this only difference, that champagne may have deteriorating results which the more innocent beverage will not produce. The feeling that the greatness of these operations relieved them from the necessity of looking to small expenses operated in the champagne direction, both on Fisker and Montague, and the result was deleterious. The Beargarden, no doubt, was a more lively place than Carbury Manor, but Montague found that he could not wake up on these London mornings with thoughts as satisfactory as those which attended his pillow at the old Manor House.

On Saturday, the 19th of April, Fisker was to leave London on his return to New York, and on the 18th a farewell dinner was to be given to him at the club. Mr. Melmotte was asked to meet him, and on such an occasion all the resources of the club were to be brought forth. Lord Alfred Grendall was also to be a guest, and Mr. Cohenlupe, who went about a good deal with Melmotte. Nidderdale, Carbury, Montague, and Miles Grendall were members of the club, and gave the dinner. No expense was spared. Herr Vossner purveyed the viands and winesโ โ€”and paid for them. Lord Nidderdale took the chair, with Fisker on his right hand, and Melmotte on his left, and, for a fast-going young lord, was supposed to have done the thing well. There were only two toasts drunk, to the healths of Mr. Melmotte and Mr. Fisker, and two speeches were of course made by them. Mr. Melmotte may have been held to have clearly proved the genuineness of that English birth which he claimed by the awkwardness and incapacity which he showed on the occasion. He stood with his hands on the table and with his face turned to his plate blurted out his assurance that the floating of this railway company would be one of the greatest and most successful commercial operations ever conducted on either side of the Atlantic. It was a great thingโ โ€”a very great thing;โ โ€”he had no hesitation in saying that it was one of the greatest things out. He didnโ€™t believe a greater thing had ever come out. He was happy to give his humble assistance to the furtherance of so great a thingโ โ€”and so on. These assertions, not varying much one from the other, he jerked out like so many separate interjections, endeavouring to look his friends in the face at each, and then turning his countenance back to his plate as though seeking for inspiration for the next attempt. He was not eloquent; but the gentlemen who heard him remembered that he was the great Augustus Melmotte, that he might probably make them all rich men, and they cheered him to the echo. Lord Alfred had reconciled himself to be called by his Christian name, since he had been put in the

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