Interests of your client that these letters should be placed in

the hands of the Earl, then you would indeed be foolish to pay

so large a sum of money to regain them." He rose and seized his

astrakhan coat.

Holmes was gray with anger and mortification.

"Wait a little," he said. "You go too fast. We should certainly

make every effort to avoid scandal in so delicate a matter."

Milverton relapsed into his chair.

"I was sure that you would see it in that light," he purred.

"At the same time," Holmes continued, "Lady Eva is not a wealthy

woman. I assure you that two thousand pounds would be a drain

upon her resources, and that the sum you name is utterly beyond

her power. I beg, therefore, that you will moderate your

demands, and that you will return the letters at the price I

Indicate, which is, I assure you, the highest that you can get."

Milverton's smile broadened and his eyes twinkled humorously.

"I am aware that what you say is true about the lady's

resources," said he. "At the same time you must admit that the

occasion of a lady's marriage is a very suitable time for her

friends and relatives to make some little effort upon her

behalf. They may hesitate as to an acceptable wedding present.

Let me assure them that this little bundle of letters would give

more joy than all the candelabra and butter-dishes in London."

"It is impossible," said Holmes.

"Dear me, dear me, how unfortunate!" cried Milverton, taking out

a bulky pocketbook. "I cannot help thinking that ladies are

ill-advised in not making an effort. Look at this!" He held up

a little note with a coat-of-arms upon the envelope. "That

belongs to--well, perhaps it is hardly fair to tell the name

until to-morrow morning. But at that time it will be in the

hands of the lady's husband. And all because she will not find

a beggarly sum which she could get by turning her diamonds into

paste. It IS such a pity! Now, you remember the sudden end of

the engagement between the Honourable Miss Miles and Colonel

Dorking? Only two days before the wedding, there was a paragraph

in the MORNING POST to say that it was all off. And why? It is

almost incredible, but the absurd sum of twelve hundred pounds

would have settled the whole question. Is it not pitiful? And

here I find you, a man of sense, boggling about terms, when your

client's future and honour are at stake. You surprise me, Mr. Holmes."

"What I say is true," Holmes answered. "The money cannot be

found. Surely it is better for you to take the substantial sum

which I offer than to ruin this woman's career, which can profit

you in no way?"

"There you make a mistake, Mr. Holmes. An exposure would profit

me indirectly to a considerable extent. I have eight or ten

similar cases maturing. If it was circulated among them that I

had made a severe example of the Lady Eva, I should find all of

them much more open to reason. You see my point?"

Holmes sprang from his chair.

"Get behind him, Watson! Don't let him out! Now, sir, let us see

the contents of that notebook."

Milverton had glided as quick as a rat to the side of the room

and stood with his back against the wall.

"Mr. Holmes, Mr. Holmes," he said, turning the front of his coat

and exhibiting the butt of a large revolver, which projected

from the inside pocket. "I have been expecting you to do

something original. This has been done so often, and what good

has ever come from it? I assure you that I am armed to the

teeth, and I am perfectly prepared to use my weapons, knowing

that the law will support me. Besides, your supposition that I

would bring the letters here in a notebook is entirely mistaken.