It was a somewhat frigid gathering until Nasmyth rose. We had all dined with our respective hosts, and then repaired to this business in cold blood. Many were lukewarm about it in their hearts; there was a certain amount of mild prejudice, and a greater amount of animal indifference, to be overcome in the opening speech. It is not for me to say whether this was successfully accomplished. I only know how the temperature of that meeting rose with Nipper Nasmyth. And I dare say, in all the circumstances of the case, his really was a rather vulgar speech. But it was certainly impassioned, and probably as purely instinctive as his denunciation of all the causes which appeal to the gullible many without imposing upon the cantankerous few. His arguments, it is true, were merely an elaboration of those with which he had favored some of us already; but they were pointed by a concise exposition of the several definite principles they represented, and barbed with a caustic rhetoric quite admirable in itself. In a word, the manner was worthy of the very foundation it sought to shake, or we had never swallowed such matter without a murmur. As it was, there was a demonstration in the wilderness when the voice ceased crying. But we sat in the deeper silence when Raffles rose to reply. I leaned forward not to lose a word. I knew my Raffles so well that I felt almost capable of reporting his speech before I heard it. Never was I more mistaken, even in him! So far from a gibe for a gibe and a taunt for a taunt, there never was softer answer than that which A. J. Raffles returned to Nipper Nasmyth before the staring eyes and startled ears of all assembled. He courteously but firmly refused to believe a word his old friend Nasmyth had said--about himself. He had known Nasmyth for twenty years, and never had he met a dog who barked so loud and bit so little. The fact was that he had far too kind a heart to bite at all. Nasmyth might get up and protest as loud as he liked: the speaker declared he knew him better than Nasmyth knew himself. He had the necessary defects of his great qualities. He was only too good a sportsman. He had a perfect passion for the weaker side. That alone led Nasmyth into such excesses of language as we had all heard from his lips that night. As for Raffles, he concluded his far too genial remarks by predicting that, whatever Nasmyth might say or think of the new fund, he would subscribe to it as handsomely as any of us, like "the generous good chap" that we all knew him to be.