There, indeed, is the prize for the treasure seeker of to-day who dreams of doubloons and pieces of eight. Nor could pirate hoard have a more blood-stained, adventurous history than these millions upon millions, lapped by the tides of Vigo Bay, which were won by the sword and lost in battle. During these last two hundred years many efforts have been made to recover the freightage of this fleet, but the bulk of the treasure is still untouched, and it awaits the man with the cash and the ingenuity to evolve the right salvage equipment. At work now in Vigo Bay is the latest of these explorers, an Italian, Pino by name, inventor of a submarine boat, a system of raising wreck, and a wonderful machine called a hydroscope for seeing and working at the bottom of the sea. With Pino it is a business affair operated by means of a concession from the Spanish government, but he is something more than an inventor. He is a poet, he has the artistic temperament, and when he talks of his plans it is in words like these: "I have found means to disclose to human eyes the things hidden in the being of the furious waves of the infinite ocean, and how to recover them. Mine is the simple key with which to open to man the mysterious virgin temples of the nymphs and sirens who, by their sweet singing, draw men to see and to take their endless treasures." This interesting Pino is no dreamer, however, and he has enlisted ample capital with which to build costly machinery and charter yachts and steamers. With him is associated Carlo L. Iberti, and there is an ideal pattern of a treasure seeker for you, a man of immense enthusiasm, of indefatigable industry, dreaming, thinking, living in the story of the galleons of Vigo Bay. It was he who secured the concession from Madrid, it was he who as he says, "was flying from province to province, from country to country, from archives to archives, from library to library, ever studying, copying, and acquiring all documents relating to Vigo. I had made up my mind to find out all that was to be known about the treasure. And I believe I have succeeded." Never was there such a prospectus as Iberti wrote to awaken the interest of investors in the undertaking of Pino. It was a historical work bristling with data, authorities, references, from French, Spanish, and English sources. It was convincing, final, positively superb. One blinked at reading it, as if dazzled by the sight of mountains of gold, and moreover every word of it was true. As a text for this narrative, his summary, the peroration, so to speak, fairly hits one between the eyes: