Within two hours from the reception of this challenge, the beautiful bracelet, inclosed in an elegant case, on whose lid the initials of Lady R., surrounded by her crest, were engraved in letters of gold, had passed from the jeweller's show-rooms to the boudoir of Madame de N., who thenceforth, by means of an espionage that followed every movement of her rival, kept her constantly in view. At length the tournament, to be followed by the balloon-ascension (held a week or two ago in the Champ de Mars), was announced to the great delight of the spectacle-loving public; and having learned that the fair Englishwoman was to be present in an open carriage, Madame de N. determined to avail herself of this occasion to execute her scheme. Accordingly on the appointed day, the bracelet, in its elegant case, being placed in the carriage beside her, and the coachman duly instructed in the part he was to play, Madame de N., holding in her hand her _bonbonniere_, supplied with fresh crumbs of the most delicate _brioche_, followed, at short distance, the carriage of her rival to the Champ de Mars, and took her stand just in the rear of her ladyship's phaeton. Lady R. was in excellent spirits, receiving the homage of a crowd of attendant cavaliers; Sylphide, to the unspeakable joy of Madame de N., being seated on the front seat nearest her carriage. Madame de N. waited patiently through the various evolutions of the gorgeous scene; and, at its close, when the great balloon of M. Poitevin rose majestically from the field, surrounded by its graceful band of nymphs that seemed to float, self-sustained, in the air, their silver wands and wreaths of flowers shining in the light of the setting sun, when all eyes followed the aeronauts, and deafening acclamations rent the air, in less time than we take in recounting the movement, the carriage of Madame de N. advanced to the side of Lady R.'s; Sylphide, attracted by the well-known _bonbonniere_, leapt lightly into the outstretched arms of her friend; and Madame de N. depositing the morocco case on the very spot Sylphide had quitted, bowed gracefully to her rival, and drove rapidly away, before Lady R. had had time to comprehend what was passing. Great was her ladyship's amazement, as may well be supposed; and great, for the first few moments, was also her indignation; but the mystery was soon explained; for, in opening the case, which occupied Sylphide's vacant place, and which was unmistakably intended for her, she perceived the rich bracelet she had so much wished for, and beside it, the card of Madame de N., on which was written, in pencil, these words, which contained the key of the enigma, "_Exchange is no robbery_." A hearty laugh, which she tried in vain to repress, broke from the lips of the fair lady; much to the astonishment of the gentlemen who had witnessed the scene, and to whom, notwithstanding their eager inquiries, Lady R. very naturally declined giving any explanation of the affair.