“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. I would do nothing so foolish. And now, gentlemen, I have one or two little interviews this evening, and it is a long drive to Hampstead.” He stepped forward, took up his coat, laid his hand on his revolver, and turned to the door. I picked up a chair, but Holmes shook his head, and I laid it down again. With a bow, a smile, and a twinkle, Milverton was out of the room, and a few moments after we heard the slam of the carriage door and the rattle of the wheels as he drove away.