worth to repair her. Or she might
become a total wreck. All such possibilities would have to be provided
against by insurance, and, as a business man, I should expect to hold
the policy. Would you be willing that I should do that?"

"Certainly," I replied. "Of course, in the event of your deciding to
lend me the money I require, I presume that a proper agreement would be
drawn up, specifying the amount, terms, and duration of the loan, the
mode of repayment, and so on--an agreement, in short, which would
equally protect both our interests; and if that were done there could be
no objection whatever to your holding the policy; indeed, I should most
probably ask you to do so, apart from any stipulation to that effect, as
it would be much safer with you than with me."

"That is very true," assented the old gentleman. "The _chief_ question,
however, is whether you are practically convinced that you would be
acting wisely in entering upon this undertaking. Do you honestly
believe that there is a reasonable prospect of your being able to make
_it pay_? I am asking this question on your own behalf, not mine, my
dear boy. _I_ shall be quite safe, for, as a business man, I shall take
care to make myself so; but failure would be simply disastrous for
_you_. Now, tell me, honestly, have you any doubt at all as to the
success of the enterprise?"

"None whatever," I answered confidently. "There is, doubtless, plenty
of hard work and anxiety in store for me, but not failure. I am master
of my profession, and I have a certain modicum of business ability, as
well as common sense. Never fear for me, my dear sir; I shall come out
all right."

"Upon my word, I believe you will, Jack," the old gentleman replied.
"You are a plucky young fellow, and that is half the battle in these
days. However, do not decide upon anything hastily; take a little more
time to think the matter over; and if, after doing so, you finally
determine upon hazarding the experiment, do not go to a stranger to
borrow money; come to me, and you shall be dealt fairly with."

As I wended my way homeward, on that glorious summer afternoon, I once
more turned the whole matter over in my mind, with the result that
before I reached "The Spaniards" I had fully come to the determination
to take the risk, such as it was, and be my own master. There was no
blinking the fact that I should have to do _something_; and to purchase
a ship and sail in my own employ s