told him that at the place indicated on it—that is, under the mountain known as the Sugarloaf—there was an immense treasure buried, consisting principally of gold and silver plate and ornaments, the plunder of Peruvian churches which certain pirates had concealed there in the year 1821. Much of this plate, he said, came from the cathedral of Lima, having been carried away from there during the war of independence when the Spaniards were escaping the country, and that among other riches there were several massive golden candlesticks.

'He further stated that he was the only survivor of the pirates, as all the others had been captured by the Spaniards and executed in Cuba some years before, and consequently it was probable that no one but himself knew of this secret. He then gave Captain P—— instructions as to the exact position of the treasure in the bay under the Sugarloaf, and enjoined him to go there and search for it, as it was almost certain that it had not been removed. The quartermaster died shortly afterwards.'

Now this story, so far, bears a strong family resemblance to many other stories of pirate treasure, mythical or otherwise, and, though there can be no doubt that great stores of valuable plunder are still lying hidden away in this fashion on many a West Indian cay and desert ocean island, the dying quartermaster's deposition was hardly enough by itself to warrant the expense of fitting out an expedition for Trinidad. But on making researches it was found that his story was corroborated in many remarkable ways.

In the first place the archives of Cuba were inspected, and a record was discovered which showed that a gang of pirates who had plundered Spanish vessels sailing from Lima had been hanged at Havannah at the time mentioned.

The probability of the story is further strengthened by the actual history of Peru during the war of independence. It appears that the Spanish population of Lima entertained a wholesome dread of the liberators of their country, and deposited large sums of money and a vast amount of plate in the forts for security. Lima was then a city extremely rich in gold and silver plate, and the value of the property lying in the fortress alone was estimated by Lord Dundonald as at least six millions sterling.

Lord Dundonald, who was at the time in command of the Chilian fleet which had been sent to the assistance of the liberators of Peru, endeavoured to obtain possession of this fortress by negotiations, and offered the Spanish governor to permit his free departure with two-thirds of this treasure on condition of the remainder, together with the fortress, being given up to the Chilian squadron. The admiral hoped by means of this one-third to abate the mutinous spirit of his men, who had received no pay for a long period, and who were, moreover, in a state of actual destitution. But, to Lord Dundonald's disgust, the Peruvian Protector, San Martin, for purposes of his own, allowed the garrison to evacuate the fortress, carrying away with them the whole of these riches. Later on, however, Lord Dundonald took the responsibility on himself of seizing the Protector's yacht at Ancon, and discovered that it was entirely ballasted with silver coin and uncoined gold. With this he paid his sailors some of their arrears of pay and prize-money.

During the first few years of their liberty the unhappy Limenos must have occasionally regretted the old Spanish misrule, bad as it was; for their liberators plundered them in the most shameless fashion, and most of the wealthy citizens of Lima were reduced to a state of abject poverty. The tyrannical Protector inflicted great hardships on the Spanish inhabitants, and among other of his decrees one was passed confiscating to the public treasury one-half of all their property. When some of these unhappy people, driven to desperation, took to sea and endeavoured to escape with the remaining half of their possessions, the Republican officers boarded their vessels and, wholly regardless of the decree, appropriated this half also.

The wealth of Lima, the richest city of Spanish America, was soon scattered far and wide, and disappeared for ever; but it is probable that only a small proportion of it fell into the hands of the liberators; for the executive was not sufficiently well organised to carry out fully the decrees of confiscation. I do not think that the property to the value of six millions sterling which was carried away by the Spanish garrison has been all traced, but the records of the day show that the Spaniards took every opportunity of escaping to sea in any sort of vessel they could procure, carrying with them all the property they could collect, in the hope of reaching the mother country or some neutral port.

It must have been a glorious time for adventurous persons not overburdened with scruples; for it seems that all the gold and precious stones of Peru were travelling about recklessly by sea and land without any proper protection. The pirates who then swarmed in those seas were not slow to avail themselves of this rare opportunity, and carried on a flourishing business until such time as they were caught and hanged by that terrible English admiral.

Numbers of piratical craft hovered around the Peruvian ports, and the badly equipped vessels of the Spanish fugitives fell an easy prey to them. But Lord Dundonald, on the other hand, was ever pursuing the pirates with great energy. He captured many of them, and, later on, he was able to boast that he had swept the West Coast clean of these scourges of the sea.

It is known, however, that several of these vessels escaped his vigilance, and that enormous quantities of cathedral plate and specie were never recovered from their hands.

The pirate vessel that succeeded in reaching the islet of Trinidad is supposed to have been one of these.

Captain P——, on leaving Bombay after the death of his quartermaster, had intended to land on Trinidad and examine the spot indicated on the pirate's plan; but as he had a rather unruly crew, and was himself crippled with a broken arm, he thought it prudent not to make the attempt then, and so passed the islet and sailed home.

On his return to England he told the pirate's story to many people, but of course preserved the secret of the exact position of the hiding-place. Nothing, however, seems to have been done towards recovering the treasure until 1880, when Captain P—— persuaded a shipping firm at Newcastle to allow one of their vessels trading to the Brazils to visit the island. It was arranged that the barquentine 'John' should call at Trinidad on her way from Santos to Bull River, and that Captain P——'s son should go with the vessel so as to identify the spot and act on his father's behalf.

The 'John' reached the islet, but, after beating about off it for a week, no landing-place could be found, and the captain decided to give up the attempt. But young P—— was very disinclined to return without having effected a landing, and persuaded the captain to allow him to swim ashore from a boat. The ship's longboat was therefore put out, and was pulled as close to the long roll of furious breakers as was considered safe. Then young P—— plunged into the sea, and contrived, after a narrow escape from drowning, to reach the land. The surf became more furious while he was on shore, so that it was impossible for him to swim off again that day. He had, consequently, to pass the night on the sands without either clothes or provisions, and was, moreover, in danger of being eaten alive by the land-crabs.

On the following morning the captain succeeded in casting the end of a line on shore, and the young man was dragged through the surf to the longboat, and carried on board the vessel. He reported to the captain that he had discovered the spot described by the pirate; but that a great landslip of red débris had fallen on the treasure, which could not be removed without great labour. He said the place tallied exactly with the description furnished by his father, and that he firmly