It was clear that poor Elise--who could never have had any head for business--was deceived as to the value of her securities. It might even be that with regard to all three of them she might have to cut her losses and estimate her income minus the dividends accruing from this source. But that only made it the more imperative that she should have at least a thousand pounds tucked snugly away in some safe investment. Nothing short of the addition of fifty pounds to her yearly income would enable Elise to pay her way. The dear woman's affairs ought to stand on a sound financial basis; and Mr. Waddington asked himself this question: Was he prepared to put them there? All that Elise could offer him, failing her depreciated securities, was the reversion of a legacy of five hundred pounds promised to her in her aunt's will. She had spoken very hopefully of this legacy. Was he prepared to fork out a whole five hundred pounds on the offchance of Elise's aunt dying within a reasonable time and making no alteration in her will? In a certain contingency he _was_ prepared. He was prepared to do all that and more for Elise. But it was not possible, it was not decent to state his conditions to Elise beforehand, and in any case Mr. Waddington did not state them openly as conditions to himself. He allowed his mind to be muzzy on this point. He had no doubt whatever about his passion, but he preferred to contemplate the possibility of its satisfaction through a decent veil of muzziness. When he said to himself that he would like to know where he stood before committing himself, it was as near as he could get to clarity and candour. And when he wrote to Elise that his promise was conditional he really did mean that the loan would depend on the value of the securities offered; a condition that his integrity could face, a condition that, as things stood, he had a perfect right to make. While, all the time, deep inside him was the knowledge that, if Elise gave herself to him, he would not ask for security--he would not make any conditions at all. He saw Elise, tender and yielding, in his arms; he saw himself, tender and powerful, stooping over her, and he thought, with a qualm of disgust: "I wouldn't touch her poor little legacy."