to America, an application which had been refused. There was nothing extraordinary, then, in de Berenger's visit. His lordship, again, claimed that de Berenger's call on him, instead of going straight to the Stock Exchange to commence operations, indicated that he had weakened in his plot, and did not see how to carry it through. "Had I been his confederate," says Lord Cochrane in his affidavit, "it is not within the bounds of credibility that he would have come in the first instance to my house, and waited two hours for my return home, in place of carrying out the plot he had undertaken, or that I should have been occupied in perfecting my lamp invention for the use of the convoy, of which I was in a few days to take charge, instead of being on _the only spot_ where any advantage to be derived from the Stock Exchange hoax could be realised, had I been a participator in it. Such advantage must have been immediate, before the truth came out; and to have reaped it, had I been guilty, it was necessary that I should not lose a moment. It is still more improbable that being aware of the hoax, I should not have speculated largely for the special risk of that day." [Illustration: _De Berenger._-- (_From Cruikshank's Etching._)] We may take Lord Cochrane's word, as an officer and a gentleman, that he had no guilty knowledge of de Berenger's scheme; but here again the luck was against him, for it came out in evidence that his brokers had sold stock for him on the day of the fraud. Yet the operation was not an isolated one made on that occasion only. Lord Cochrane declared that he had for some time past anticipated a favourable conclusion to the war. "I had held shares for the rise," he said, "and had made money by sales. The stock I held on the day of the fraud was less than [Illustration: "GAMBLING IN THE STOCKS." (_From Cruikshank's Etching._)] I usually had, and it was sold under an old order given to my brokers to sell at a certain price. It had necessarily to be sold." It was clear to Lord Cochrane's friends--who, indeed, and rightly, held him to be incapable of stooping to fraud--that had he contemplated it he would have been a larger holder of stock on the day in question, when he actually held less than usual. On these grounds alone they were of opinion that he should have been absolved from the charge. [Illustration: LORD COCHRANE AS HE APPEARED IN COURT. (_From Cruikshank's Etching._)]