"Now take the first group of figures, which is 2227. Divided into two groups of two figures each, and added to one another, as we intend to proceed, this makes 49. Now what letter corresponds to the number 49? We find that the letter I does. Take the next group, which is 1819. This resolves itself into 37, and H is the letter belonging to that figure. From 1919 we get 38, and the letter I; and from 2622 comes 48, and the letter S. Now you see, Harry, that by this method we have already got the English word `This'; and from that it would seem that we are at last on the right track for translating the cryptogram. From the next two groups we get the word `is', and from the following three the word `the'. I think now, Harry, that we may begin and write down the translation as we go along; for I feel sure that we are right at last. It would be more than mere coincidence if the words `This is the' were not part of a connected and intelligible whole. So just hand me that knife, Harry, boy, and I will produce the necessary ink." Harry did as he was requested; and, taking the weapon, Roger made a small but sufficiently deep incision in his left arm to produce the necessary amount of blood for their "ink". Dipping the improvised pen in his own blood, Roger began to write under the groups of figures the letters which corresponded to them; and, prompted by Harry, it was not long ere he had the whole translation written down. And when this was completed he wiped the blood off his arm, and hid the pen in the lining of his jerkin. Then with much satisfaction he read out the true meaning of the cryptogram which he had held for so long a time in his possession, and which Alvarez would have sold his soul to secure. It ran as follows:-- 1581. This is the key to the Treasure of me, Jose Leirya. This Treasure which is--"`of' is here understood, I suppose," put in Roger--great worth is of jewels most part of much price, taken by me in the South Seas. Many emeralds I took from a Prince of Mejico. Much gold also, buried deep hole under stone. Iron ring cave lonely inlet 75 degrees west. 20 degrees north. North-East end island Cuba. Stone 14 paces mouth 5 paces right wall entering. "There!" said Roger in tones of exultation; "what do you say to my method now, Harry? We now have the treasure in our power, or rather when we get free once more." "Yes," agreed Harry, "always providing that someone else has not got there before us."