It is certain that his manner changed, and during the rest of the walk she listened demurely when he talked about Wall Street, with casual references to the powers that be.  It was evident that Mr. Howard Spence was one who had his fingers on the pulse of affairs.  Ambition leaped in him.

They reached the house in advance of Mrs. Holt and the Vicomte, and Honora went to her room.

At dinner, save for a little matter of a casual remark when Mr. Holt had assumed the curved attitude in which he asked grace, Mr. Spence had a veritable triumph.  Self-confidence was a quality which Honora admired.  He was undaunted by Mrs. Holt, and advised Mrs. Robert, if she had any pin-money, to buy New York Central; and he predicted an era of prosperity which would be unexampled in the annals of the country.  Among other powers, he quoted the father of Honora’s schoolmate, Mr. James Wing, as authority for this prophecy.  He sat next to Susan, who maintained her usual maidenly silence, but Honora, from time to time, and as though by accident, caught his eye.  Even Mr. Holt, when not munching his dried bread, was tempted to make some inquiries about the market.

“So far as I am concerned,” Mrs. Holt announced suddenly, “nothing can convince me that it is not gambling.”

“My dear Elvira!” protested Mr. Holt.

“I can’t help it,” said that lady, stoutly; “I’m old-fashioned, I suppose.  But it seems to me like legalized gambling.”

Mr. Spence took this somewhat severe arraignment of his career in admirable good nature.  And if these be such a thing as an implied wink, Honora received one as he proceeded to explain what he was pleased to call the bona-fide nature of the transactions of Dallam and Spence.

A discussion ensued in which, to her surprise, even the ordinarily taciturn Joshua took a part, and maintained that the buying and selling of blooded stock was equally gambling.  To this his father laughingly agreed.  The Vicomte, who sat on Mrs. Holt’s right, and who apparently was determined not to suffer a total eclipse without a struggle, gallantly and unexpectedly came to his hostess’ rescue, though she treated him as a doubtful ally.  This was because he declared with engaging frankness that in France the young men of his monde had a jeunesse:  he, who spoke to them, had gambled; everybody gambled in France, where it was regarded as an innocent amusement.  He had friends on the Bourse, and he could see no difference in principle between betting on the red at Monte Carlo and the rise and fall of the shares of la Compagnie des Metaux, for example.  After completing his argument, he glanced triumphantly about the table, until his restless black eyes encountered Honora’s, seemingly seeking a verdict.  She smiled impartially.

The subject of finance lasted through the dinner, and the Vicomte proclaimed himself amazed with the evidences of wealth which confronted him on every side in this marvellous country.  And once, when he was at a loss for a word, Honora astonished and enchanted him by supplying it.