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`Indeed! That really is a bad business. It is quite shocking that an immigrant race should become the masters. Surely the French Government will give your people some form of protection?

'No. I have pleaded with them to give us a new Constitution, similar to that which the British are about to institute in Fiji, but they have remained deaf to my appeals.'

`What sort of Constitution are the British giving the Fijians?'

`They have been faced with the same problem as my people… The Indians there already outnumber the natives. But in future, however the population may vary, the Indians and the Fijians will have the same number of representatives in the Assembly. In addition, half a dozen or so representatives are to be elected by the British and members of other races living in the islands, and that small block will hold the balance of power; so, however much the numbers of the Fijian natives decline, their rights will always be protected.'

Gregory nodded. `That seems very sound. But, tell me: should you succeed in raising a fortune from the galleon, how would that enable you to prevent the Indians from exploiting your people?'

`I would use the money to modernise our native industries,' Ratu James replied eagerly. `There are good markets in Australia, New Zealand and America for many of our products. But at present most of them are still made by hand. Given money, I could buy machinery which would greatly increase the quantity that could be turned out. That would lead to a greater demand for raw materials and so provide employment at a fair wage for natives who would otherwise be exploited by the Indians. I would also like to build a fruit canning factory and a refrigeration plant for the export of prawns and other shellfish with which our coasts abound.'

Regarding the handsome young man with admiration, Gregory said, `I think your ideas laudable and your plans for carrying them out excellent if only that treasure can be raised. Perhaps you would care to tell me now about the man you have come to Rio to see, in the hope that he will finance you.'

`Why not? He is Valentim Maua de Carvalho. His second name comes from his mother a descendant of the great industrialist and associate of the Rothschild’s, who flourished in Dom Pedro II's reign. The Emperor made him a Viscount and the whole family in still extremely rich. Senhor Valentim owns many properties and he likes the South Seas, so he keeps a fine yacht at Fiji in Suva harbour. From time to time he cruises among the islands. A few months ago he visited the Nakapoa Group and I entertained him and his wife in Revika, the capital of Tujoa, our largest island.' Ratu James paused to raise his eyes and give a sigh. `The Senhora de Carvalho is a most lovely girl or perhaps I should say woman although she is not much older than myself.'

Much amused, Gregory asked, `And how old are you?'

`I am twenty three. But to continue. Some weeks ago, this idea came to me of helping my people by salvaging the gold. I searched my mind for a means to raise capital, but could not think of one. Then the wealth of de Carvalho recurred to me and I wrote to him. He replied that I should come to Rio, and we would discuss the matter. I came. He was greatly interested, and we have had several talks. The last was three days before the beginning of the flood. He said then that those of his financial associates whom he had approached had not proved enthusiastic, but he would think the matter over. He was shortly leaving Rio on a business trip to Guatemala, but he will be back at his country estate, up at Vassouras, by now. He and his charming wife live there for most of the hot season and he invited me to spend Saturday night up there with them. By then, he said, he would be able to give me a definite answer.'

I see,' said Gregory thoughtfully. `Then, if his pals are reluctant to come in with him, he might welcome the idea of taking me as a partner.'

The young Ratu leaned forward eagerly. `Exactly. The thought came to me immediately you said that you might be prepared to put up some of the money. Your offer might even make the difference between his turning me down or agreeing to back me. You see, he was very keen to start with, and has only become doubtful because others have poured cold water on the idea.'

`How far from Rio is Vassouras?'

`About sixty miles, I think.'

`One could drive that distance in two or three hours, so it might be an idea if I hired a car and went up with you. I'm not suggesting foisting myself on the de Carvalho’s for the night. I would drive back the same day. But I'd like to meet de Carvalho and my personal word that I was prepared to help finance you would carry more weight than your just telling him that you had found someone willing to do that. What do you think?'

`It is an excellent idea. At the height of the flood, most of the telephone lines were out of action, but by now many of them will have been repaired. I will try to get through to him this evening and ask if I may bring you with me.'

When they parted, Gregory felt that he had received a real tonic from the youthful enthusiasm of his young guest, and James was filled with admiration for the knowledge and savoir faire of his much travelled host. This mutual attraction led to their taking leave of each other as though they were old friends.

That evening James rang up to say that he had succeeded in getting through to de Carvalho and that the financier would be pleased for Gregory also to spend the Saturday night at his fazenda. Gregory then insisted that he should hire the car to take them, and it was agreed that they should set off from the Copacabana Palace at nine o'clock on the Saturday morning.

The call had come through while Gregory was dining with Manon in the restaurant. When he returned to their table he told her only that on Saturday he was going up country on a business matter, so would be away that night end most of Sunday.

At that she pouted. But, with a laugh, he reminded her that she had lunched with friends and for the next few days had accepted several other invitations. Swiftly she decided that she would be wise to reverse her policy and remain with him as much as possible, so minimising the risk of his becoming interested in anyone else.

The Wellesleys had rung Gregory up several times to enquire about his injured ankle and, now that the floods had subsided, they were to lunch with him the following day. Manon made a fourth, and once more they enjoyed the brilliant sunshine on the terrace round the swimming pool, making a jolly party.

During the meal Hugo said that he had failed to trace Gregory's rescuer, to which Gregory replied, `Please don't bother further.' But when the girls left them to powder their noses he told Hugo briefly about the Ratu James and the project of salvaging the gold from the Spanish galleon. Then he went on:

`Do you happen to know this chap Main de Carvalho, or anything about him?'

`I've met him at functions a few times,' the Colonel answered, `but that is all. It is quite true that he is very rich and dabbles in all sorts of ventures. But I suggest that if you do go into partnership with him you should employ the Embassy lawyer to draw up the contract. The Brazilians are most likeable people, and the great majority of the businessmen I know are entirely honest. But, as in every other country, some of the big financiers here pull a fast one at times, and in a speculation to retrieve sunken treasure you can't be too careful.'