In the next room Val was saying to Holly:

“Had a chap I knew at college to see me today. Wanted me to lend him money. I once did, when I was jolly hard up myself, and never got it back. He used to impress me frightfully—such an awfully good-looking, languid beggar. I thought him top notch as a ‘blood.’ You should see him now!”

“I did. I was coming in as he was going out; I wondered who he was. I never saw a more bitterly contemptuous expression on a face. Did you lend him money?”

“Only a fiver.”

“Well, don’t lend him any more.”

“Hardly. D’you know what he’s done? Gone off with that Louis Quinze snuffbox of Mother’s that’s worth about two hundred. There’s been nobody else in that room.”

“Good heavens!”

“Yes, it’s pretty thick. He had the reputation of being the fastest man up at the ‘Varsity in my time—in with the gambling set. Since I went out to the Boer war I’ve never heard of him.”

“Isn’t your mother very annoyed, Val?”

“She wants to prosecute—it belonged to my granddad. But how can we—a college pal!… Besides, we shouldn’t get the box back.”

Holly ceased to brush her hair.

“It’s rather a comfort to me—this,” she said.

“What is?”

“Why, everybody says the standard of honesty’s gone down. It’s nice to find someone belonging to our generation that had it even less.”

“Rum comfort!”

“Human nature doesn’t alter, Val. I believe in the young generation. We don’t understand them—brought up in too settled times.”

“That may be. My own dad wasn’t too particular. But what am I to do about this?”

“Do you know his address?”

“He said the Brummell Club would find him—pretty queer haunt, if I remember. To come to sneaking things like that! It’s upset me fright-fully.”

Holly looked at him lying on his back in bed. Catching her eyes on him, he said:

“But for you, old girl, I might have gone a holy mucker myself.”

“Oh, no, Val! You’re too open-air. It’s the indoor people who go really wrong.”

Val grinned.

“Something in that—the only exercise I ever saw that fellow take was in a punt. He used to bet like anything, but he didn’t know a horse from a hedge-hog. Well, Mother must put up with it, I can’t do anything.”

Holly came up to his bed.

“Turn over, and I’ll tuck you up.”

Getting into bed herself, she lay awake, thinking of the man who had gone a holy mucker, and the contempt on his face—lined, dark, well-featured, with prematurely greying hair, and prematurely faded rings round the irises of the eyes; of his clothes, too, so preternaturally preserved, and the worn, careful school tie. She felt she knew him. No moral sense, and ingrained contempt for those who had. Poor Val! HE hadn’t so much moral sense that he need be despised for it! And yet—! With a good many risky male instincts, Val had been a loyal comrade all these years. If in philosophic reach or aesthetic taste he was not advanced, if he knew more of horses than of poetry, was he any the worse? She sometimes thought he was the better. The horse didn’t change shape or colour every five years and start reviling its predecessor. The horse was a constant, kept you from going too fast, and had a nose to stroke—more than you could say of a poet. They had, indeed, only one thing in common—a liking for sugar. Since the publication of her novel Holly had become member of the 1930 Club. Fleur had put her up, and whenever she came to town, she studied modernity there. Modernity was nothing but speed! People who blamed it might as well blame telephone, wireless, flying machine, and quick lunch counter. Beneath that top-dressing of speed, modernity was old. Women had worn fewer clothes when Jane Austen began to write. Drawers—the historians said—were only nineteenth-century productions. And take modern talk! After South Africa the speed of it certainly took one’s wind away; but the thoughts expressed were much her own thoughts as a girl, cut into breathless lengths, by car and telephone bell. Take modern courtships! They resulted in the same thing as under George the Second, but took longer to reach it, owing to the motor-cycle and the standing lunch. Take modern philosophy! People had no less real philosophy than Martin Tupper or Izaak Walton; only, unlike those celebrated ancients, they had no time to formulate it. As to a future life—modernity lived in hope, and not too much of that, as everyone had, from immemorial time. In fact, as a novelist naturally would, Holly jumped to conclusions. Scratch—she thought—the best of modern youth, and you would find Charles James Fox and Perdita in golf sweaters! A steady sound retrieved her thoughts. Val was asleep. How long and dark his eyelashes still were, but his mouth was open!

“Val,” she said, very softly; “Val! Don’t snore, dear!”

A snuffbox may be precious, not so much for its enamel, its period, and its little brilliants, as because it has belonged to one’s father. Winifred, though her sense of property had been well proved by her retention of Montague Dartie ‘for poorer,’ throughout so many years, did not possess her brother Soames’ collecting instinct, nor, indeed, his taste in objects which George Forsyte had been the first to call ‘of bigotry and virtue.’ But the further Time removed her father James—a quarter of a century by now—the more she revered his memory. As some ancient general or philosopher, secured by age from competition, is acclaimed year by year a greater genius, so with James! His objection to change, his perfect domesticity, his power of saving money for his children, and his dread of not being told anything, were haloed for her more and more with every year that he spent underground. Her fashionable aspirations waning with the increase of adipose, the past waxed and became a very constellation of shining memories. The removal of this snuffbox—so tangible a reminder of James and Emily—tried her considerable equanimity more than anything that had happened to her for years. The thought that she had succumbed to the distinction of a voice on the telephone, caused her positive discomfort. With all her experience of distinction, she ought to have known better! She was, however, one of those women who, when a thing is done, admit the fact with a view to having it undone as soon as possible; and, having failed with Val, who merely said, “Awfully sorry, Mother, but there it is—jolly bad luck!” she summoned her brother.

Soames was little less than appalled. He remembered seeing James buy the box at Jobson’s for hardly more than one-tenth of what it would fetch now. Everything seemed futile if, in such a way, one could lose what had been nursed for forty years into so really magnificent a state of unearned increment. And the fellow who had taken it was of quite good family, or so his nephew said! Whether the honesty of the old Forsytes, in the atmosphere of which he had been brought up and turned out into the world, had been inherited or acquired—derived from their blood or their Banks—he had never considered. It had been in their systems just as the proverb “Honesty is the best policy” was in that of the private banking which then obtained. A slight reverie on banking was no uncommon affection of the mind in one who could recall the repercussion of “Understart and Darnett’s” failure, and the disappearance one by one of all the little, old Banks with legendary names. These great modern affairs were good for credit and bad for novelists—run on a Bank—there had been no better reading! Such monster concerns couldn’t ‘go broke,’ no matter what their clients did; but whether they made for honesty in the individual, Soames couldn’t tell. The snuffbox was gone, however; and if Winifred didn’t take care, she wouldn’t get it back. How, precisely, she was to take care he could not at present see; but he should advise her to put it into the hands of somebody at once.