M. de Valorsay was anything but unsophisticated, and his natural shrewdness had been rendered much more acute by the difficulties with which he had recently been obliged to contend. M. Fortunat’s confusion had not escaped his keen glance; and this last suggestion aroused his suspicions at once. “What!” he said, slowly, and with an air of evident distrust. “YOU give me this advice, Master Twenty-per-cent. This is wonderful! How long is it since your opinions have undergone such a change?” “My opinions?” “Yes. Didn’t you say to me during our first interview; ‘The thing that will save you, is that you have never in your whole life borrowed a louis from a friend. An ordinary creditor only thinks of a large interest; and if that is paid him he holds his peace. A friend is never satisfied until everybody knows that he has generously obliged you. It is far better to apply to a usurer.’ I thought all that very sensible, and I quite agreed with you when you added: ‘So, Monsieur le Marquis, no borrowing of this kind until after your marriage—not on any pretext whatever. Go without eating rather than do it. Your credit is still good; but it is being slowly undermined—and the indiscretion of a friend who chanced to say: “I think Valorsay is hard up,” might fire the train, and then you’d explode.’” M. Fortunat’s embarrassment was really painful to witness. He was not usually wanting in courage, but the events of the evening had shaken his confidence and his composure. The hope of gain and the fear of loss had deprived him of his wonted clearness of mind. Feeling that he had just committed a terrible blunder, he racked his brain to find some way of repairing it, and finding none, his confusion increased. “Did you, or didn’t you, use that language?” insisted M. de Valorsay. “What have you to say in reply?” “Circumstances——” “What circumstances?” “Urgent need—necessity. There is no rule without its exceptions. I did not imagine you would be so rash. I have advanced you forty thousand francs in less than five months—it is outrageous. If I were in your place, I would be more reasonable—I would economize——” He paused! in fact,