Rule 5, ‘That no money be borrowed during the first two weeks of term, and that no member who has failed to make repayment within eight weeks may avail himself of the privileges of membership until such repayment be made.’ Rule 6, ‘That in the event of all funds being exhausted before the last week of term, the Treasurer--who shall be elected terminally--shall call a meeting to announce the fact.’ Rule 7, ‘That any money left over--’ ‘We can dispense with that rule,’ remarked Squiff, ‘there never will be any money left over.’ ‘That’s all I’ve got down,’ said Reggie, ‘discussion may now commence.’ ‘Supposing,’ remarked the Pilot, who is always ready with an objection, ‘supposing that the Treasurer himself borrows all the available funds at the beginning of the third week, or that he goes away leaving the money locked up, what is to happen?’ ‘I propose rule seven,’ said Squiff. ‘The Treasurer to be unable to borrow without consulting two members, and in case of absence to appoint a deputy.’ ‘Of course he must keep accounts,’ said Freddy; ‘and is responsible for collecting repayments and subscriptions.’ ‘It’s a good idea,’ I said; ‘but will it work?’ ‘We can but try,’ replied Reggie. ‘It saves incessant borrowing and is simple; both of which are great points in its favour. Are we all agreed on these seven Rules?’ ‘Oughtn’t we to limit the borrowing powers of each member?’ asked Freddy. ‘That wouldn’t be any use,’ said Reggie; ‘but we can frame rule eight. That each member only borrow sufficient for his urgent need, and give to the Treasurer a statement of his reason for borrowing. That ought to be sufficient.’ ‘I think so,’ agreed Freddy; ‘but we ought to exclude betting from the Urgent Circumstances.’ ‘Right!’ said the Pilot, ‘and now for the members. There are five of us, Accrington will be six, von Graussman seven, and Fatty eight: that gives us forty pounds, which will do to start on. Suppose we appoint Fatty treasurer, he has a good head for figures.’ This proposal was unanimously carried, as Fatty was not present to decline the honour, and the meeting adjourned till the following evening in Fatty’s rooms. In the meanwhile the objects of the Club were explained to the other three in moving terms, and they promised their adherence. Von Graussman, whose father is a great Austrian financier, had grave doubts about the scheme, and wrote to his people for advice; meanwhile however, we collared his subscription, and he became, however unwillingly, a member. A proposal by Fatty, who does not play cards, to exclude Bridge from the list of Urgent Circumstances was negatived by seven to one. The Pilot also was as usual full of objections, but these were overruled, and the Cecil’s Mutual Help Society started on its brief, but bright, career.