'You would of course write for it,' she said.

'Marian, why shouldn't I edit it? Why shouldn't it be your property?',

She checked a laugh. There came into her mind a more disagreeable suspicion than she had ever entertained of her father. Was this the meaning of his softened behaviour? Was he capable of calculated hypocrisy? That did not seem consistent with his character, as she knew it.

'Let us talk it over,' said Yule. He was in visible agitation and his voice shook. 'The idea may well startle you at first. It will seem to you that I propose to make away with your property before you have even come into possession of it.' He laughed. 'But, in fact, what I have in mind is merely an investment for your capital, and that an admirable one. Five thousand pounds at three per cent.--one doesn't care to reckon on more--represents a hundred and fifty a year. Now, there can be very little doubt that, if it were invested in literary property such as I have in mind, it would bring you five times that interest, and before long perhaps much more. Of course I am now speaking in the roughest outline. I should have to get trustworthy advice; complete and detailed estimates would be submitted to you. At present I merely suggest to you this form of investment.'

He watched her face eagerly, greedily. When Marian's eyes rose to his he looked away.

'Then, of course,' she said, 'you don't expect me to give any decided answer.'

'Of course not--of course not. I merely put before you the chief advantages of such an investment. As I am a selfish old fellow, I'll talk about the benefit to myself first of all. I should be editor of the new review; I should draw a stipend sufficient to all my needs--quite content, at first, to take far less than another man would ask, and to progress with the advance of the periodical. This position would enable me to have done with mere drudgery; I should only write when I felt called to do so--when the spirit moved me.' Again he laughed, as though desirous of keeping his listener in good humour. 'My eyes would be greatly spared henceforth.'

He dwelt on that point, waiting its effect on Marian. As she said nothing he proceeded: