are many and varied, are penned up in a sort of canyon, and gain in vehemence from the fact. The masses of dirty clothes hanging from the fire-escapes increase the depression. Nowhere in the city does one realise so fully the disadvantages of a lack of space. New York, being an island, has had no room to spread. It is a town of human sardines. In the poorer quarters the congestion is unbelievable. Psmith and Mike picked their way through the groups of ragged children who covered the roadway. There seemed to be thousands of them. "Poor kids!" said Mike. "It must be awful living in a hole like this." Psmith said nothing. He was looking thoughtful. He glanced up at the grimy buildings on each side. On the lower floors one could see into dark, bare rooms. These were the star apartments of the tenement-houses, for they opened on to the street, and so got a little light and air. The imagination jibbed at the thought of the back rooms. "I wonder who owns these places," said Psmith. "It seems to me that there's what you might call room for improvement. It wouldn't be a scaly idea to turn that Cosy Moments search-light we were talking about on to them." They walked on a few steps. "Look here," said Psmith, stopping. "This place makes me sick. I'm going in to have a look round. I expect some muscular householder will resent the intrusion and boot us out, but we'll risk it." Followed by Mike, he turned in at one of the doors. A group of men leaning against the opposite wall looked at them without curiosity. Probably they took them for reporters hunting for a story. Reporters were the only tolerably well-dressed visitors Pleasant Street ever entertained. It was almost pitch dark on the stairs. They had to feel their way up. Most of the doors were shut but one on the second floor was ajar. Through the opening they had a glimpse of a number of women sitting round on boxes. The floor was covered with little heaps of linen. All the women were sewing. Mike, stumbling in the darkness, almost fell against the door. None of the women looked up at the noise. Time was evidently money in Pleasant Street.