his unhappy victims should be amply avenged in due
time. Alas! even then I did not know the full measure of the villain's
infamy, or I should have cast prudence to the winds, and dared
everything for immediate freedom of action. They went below for a few
minutes, and then returned to the deck to watch the trans-shipment of
the gold, standing close to the gangway, and execrating in unmeasured
terms the incapacity of the drunken mob who were performing the
operation. For my own purpose I also assumed the demeanour of semi-
intoxication, and accordingly came in for my full share of abuse. The
gold, as it was hoisted on deck, was passed down into the cabin, and
when it had all been got safely aboard the schooner, the pinnace was
passed astern and made fast to the rest of the Spanish boats, when, to
my astonishment, we filled and made sail with the _Santa Theresa's_
boats in tow!

For some time I was puzzled to divine what could possibly be Renouf's
motive in taking away the Spanish boats, for they could be of no use or
value whatever to us. There was no room for them on deck or at the
schooner's davits, and I could hardly imagine that a man like Renouf
would seriously contemplate the idea of attempting to tow them across
the Atlantic. It was while I was marvelling at this extraordinary
eccentricity, as I considered it, that I happened to allow my gaze to
rest abstractedly on the Spaniard that still remained hove-to, and as I
gazed it dawned upon me that a subtle change was taking place in the
appearance of the vessel. At first I could not satisfy myself at all as
to the nature of the change, although I was convinced of its reality,
but suddenly I understood it all. The craft was deeper in the water
than before; she was gradually, almost imperceptibly, settling down, and
already the rise and fall of her upon the swell was becoming
characterised by that heavy sluggishness of movement that marks a water-
logged ship. The scoundrels had scuttled her--I could understand it all
now--and were taking away the boats in order that the miserable
passengers and crew might by no possibility escape to tell the tale of
Renouf's piratical behaviour. With this conviction strong upon me, I
made my way below, and at length found Dumaresq, sitting upon a chest,
with his face buried in his hands, and wearing every appearance of the
most abject melancholy.

"Dumaresq," exclaimed I, in a fierce whisper, grasping him by the
shoulder an