THE BANK OF ENGLAND The Lord Justices who formed the Council of Regency were, with the exception of my Lord of Canterbury, waiting, on this momentous 15th of August, in the long gallery leading out of the Council Chamber in Whitehall. Several other great men were there also; Sunderland, Romney, Wharton, the Duke of Leeds—still, by the King’s clemency, nominally Lord President, though he had, since his disgrace over the East India scandal, none of the honours or powers of that position, and was indeed no more than a cipher where he had once been all-powerful—Marlborough—who, since the Queen’s death, vigorously supported Government, while he waited with serene patience for the death of William and the accession of the Princess his mistress—Admiral Russell, and Portland, all filled by that anxiety that so nearly touched every one of them—would the Bank of England raise the money to carry on the government until Parliament met on the King’s return? There were two women present—Lady Sunderland, who was talking to Lord Romney, and Elizabeth Villiers, now Lady Orkney, conversing with much animation with Lord Sunderland. Portland observed her with very strong dislike. Though she was his first wife’s sister he had never been in the least intimate with her; he could not forgive her the influence she had gained and exerted over William, who had taken her advice and consulted her opinion often enough when she had first come with Mary to The Hague. The usual tale-bearing, back-biting, mischief-making, and scandal had stopped this friendship, but not before her wit and intelligence had proved of great service to the Stadtholder, who, as Portland knew, had continued to employ her in delicate negotiations, even after he became King; and though she and William had scarcely seen each other for many years, Portland believed that she still used an oblique influence through Sunderland, with whom she had formed a close friendship, which Portland considered very typical of Elizabeth Villiers. He suspected her of being in some deep intrigue to supplant him by Joost van Keppel, towards whom his feelings were now near hatred. He knew that she had never liked him, and she was quite well aware that he had again and again told the King it was undignified to employ a woman in his affairs, and had even opposed the title and estates given to her husband on her marriage. Portland heard the tales this gave rise to if the King did not; Portland was vexed by the revival of old scandals if Lady Villiers was not; he loathed the woman and resented her presence here to-day. As he continued to stare at her across the splendid gallery, she suddenly looked round at him, gave Sunderland a quick sentence, and to Portland’s equal surprise and vexation crossed over to him. "It is a long time since we have met," she said, and gave one of her straight smiles.