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caricatures of his Uncle's head on an official pad of paper. He looked up at his visitor.

"Where's Johnny Atwood?" inquired the sunburned young man, in a business tone.

"Gone," said Keogh, working carefully at Uncle Sam's necktie.

"That's just like him," remarked the nut-brown one, leaning against the table. "He always was a fellow to gallivant around instead of 'tending to business. Will he be in soon?"

"Don't think so," said Keogh, after a fair amount of deliberation.

"I s'pose he's out at some of his tomfoolery," conjectured the visitor, in a tone of virtuous conviction. "Johnny never would stick to anything long enough to succeed. I wonder how he manages to run his business here, and never be 'round to look after it." "I'm looking after the business just now," admitted the pro tem. consul.

"Are you

then, say!-where's the factory?" "What factory?" asked Keogh, with a mildly polite interest.

"Why, the factory where they use them cockleburrs. Lord knows what they use 'em for, anyway! I've got the basements of both them ships out there loaded with 'em. I'll give you a bargain in this lot.

I've had every man, woman and child around Dalesburg that wasn't busy pickin' 'em for a month. I

hired these ships to bring 'em over. Everybody thought I was crazy. Now, you can have this lot for fifteen cents a pound, delivered on land. And if you want more I guess old Alabam' can come up to the demand. Johnny told me when he left home that if he struck anything down here that there was any money in he'd let me in on it. Shall I drive the ships in and hitch?"

A look of supreme, almost incredulous, delight dawned in Keogh's ruddy countenance. He dropped his pencil. His eyes turned upon the sunburned young man with joy in them mingled with fear lest his ecstasy should prove a dream.

"For God's sake, tell me," said Keogh, earnestly, "are you Dink Pawson?"

"My name is Pinkney Dawson," said the cornerer of the cockleburr market.

Billy Keogh slid rapturously and gently from his chair to his favourite strip of matting on the floor.

There were not many sounds in Coralio on that sultry afternoon. Among those that were may be mentioned a noise of enraptured and unrighteous laughter from a prostrate Irish-American, while a sunburned young man, with a shrewd eye, looked on

him with wonder and amazement. Also the "tramp, tramp, tramp" of many well-shod feet in the streets. outside. Also the lonesome wash of the waves that beat along the historic shores of the Spanish Main.

XIV

MASTERS OF ARTS

A TWO-INCH stub of a blue pencil was the wand with which Keogh performed the preliminary acts of his magic. So, with this he covered paper with diagrams and figures while he waited for the United States of America to send down to Coralio a successor to Atwood, resigned.

The new scheme that his mind had conceived, his stout heart indorsed, and his blue pencil corroborated, was laid around the characteristics and human frailties of the new president of Anchuria. These characteristics, and the situation out of which Keogh hoped to wrest a golden tribute, deserve chronicling contributive to the clear order of events.

President Losada - many called him Dictator — was a man whose genius would have made him conspicuous even among Anglo-Saxons, had not that genius been intermixed with other traits that were petty and subversive. He had some of the lofty patriotism of Washington (the man he most admired),

the force of Napoleon, and much of the wisdom of the sages. These characteristics might have justified him in the assumption of the title of "The Illustrious Liberator," had they not been accompanied by a stupendous and amazing vanity that kept him in the less worthy ranks of the dictators.

Yet he did his country great service. With a mighty grasp he shook it nearly free from the shackles of ignorance and sloth and the vermin that fed upon it, and all but made it a power in the council of nations. He established schools and hospitals, built roads, bridges, railroads and palaces, and bestowed generous subsidies upon the arts and sciences. He was the absolute despot and the idol of his people. The wealth of the country poured into his hands. Other presidents had been rapacious without reason. Losada amassed enormous wealth, but his people had their share of the benefits.

The joint in his armour was his insatiate passion for monuments and tokens commemorating his glory. In every town he caused to be erected statues of himself bearing legends in praise of his greatness. In the walls of every public edifice, tablets were fixed reciting his splendour and the gratitude of his subjects. His statuettes and portraits were scattered throughout the land in every house and hut. One

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