misfortunes—the real days of Houghton’s Great Sales began. Houghton’s Great Bargain Events were really events. After some years of hanging on, he let go splendidly. He marked down his prints, his chintzes, his dimities and his veilings with a grand and lavish hand. Bang went his blue pencil through 3/11, and nobly he subscribed 1/0-3/4. Prices fell like nuts. A lofty one-and-eleven rolled down to six-three, 1/6 magically shrank into 4-3/4d, whilst good solid prints exposed themselves at 3-3/4d per yard. 

 Now this was really an opportunity. Moreover the goods, having become a little stale during their years of ineffectuality, were beginning to approximate to the public taste. And besides, good sound stuff it was, no matter what the pattern. And so the little Woodhouse girls went to school in petties and drawers made of material which James had destined for fair summer dresses: petties and drawers of which the little Woodhouse girls were ashamed, for all that. For if they should chance to turn up their little skirts, be sure they would raise a chorus among their companions: “Yah-h-h, yer’ve got Houghton’s threp’ny draws on!” 

 All this time James Houghton walked on air. He still saw the Fata Morgana snatching his fabrics round her lovely form, and pointing him to wealth untold. True, he became also Superintendent of the Sunday School. But whether this was an act of vanity, or whether it was an attempt to establish an Entente Cordiale with higher powers, who shall judge. 

 Meanwhile his wife became more and more an invalid; the little Alvina was a pretty, growing child. Woodhouse was really impressed by the sight of Mrs. Houghton, small, pale and withheld, taking a walk with her dainty little girl, so fresh in an ermine tippet and a muff. Mrs. Houghton in shiny black bear’s-fur, the child in the white and spotted ermine, passing silent and shadowy down the street, made an impression which the people did not forget. 

 But Mrs. Houghton had pains at her heart. If, during her walk, she saw two little boys having a scrimmage, she had to run to them with pence and entreaty, leaving them dumfounded, whilst she leaned blue at the lips against a wall. If she saw a carter crack his whip over the ears of the horse, as the horse laboured uphill, she had to cover her eyes and avert her face, and all her strength left her. 

 So she stayed more and more in her room, and the child was given to the charge of a governess. Miss Frost was a handsome, vigorous young woman of about thirty years of age, with grey-white hair and gold-rimmed spectacles. The white hair was not at 

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