"These," he said, comfortably, "are the moments in life to which we look back with that wistful pleasure. What of my boyhood at Eton? Do I remember with the keenest joy the brain-tourneys in the old form-room, and the bally rot which used to take place on the Fourth of June? No. Burned deeply into my memory is a certain hot bath I took after one of the foulest cross-country runs that ever occurred outside Dante's Inferno. So with the present moment. This peaceful scene, Comrade Jackson, will remain with me when I have forgotten that such a person as Comrade Repetto ever existed. These are the real _Cosy Moments_. And while on that subject you will be glad to hear that the little sheet is going strong. The man Wilberfloss is a marvel in his way. He appears to have gathered in the majority of the old subscribers again. Hopping mad but a brief while ago, they now eat out of his hand. You've really no notion what a feeling of quiet pride it gives you owning a paper. I try not to show it, but I seem to myself to be looking down on the world from some lofty peak. Yesterday night, when I was looking down from the peak without a cap and gown, a proctor slid up. To-day I had to dig down into my jeans for a matter of two plunks. But what of it? Life must inevitably be dotted with these minor tragedies. I do not repine. The whisper goes round, 'Psmith bites the bullet, and wears a brave smile.' Comrade Jackson--" A snore came from the chair. Psmith sighed. But he did not repine. He bit the bullet. His eyes closed. Five minutes later a slight snore came from the sofa, too. The man behind _Cosy Moments_ slept.