the city of spires and dreams, and she was very silent, looking almost shyly at the brother who was part of this wonderful place. After lunch she wandered, examining his household gods with intense curiosity. Jolly's sitting-room was panelled, and Art represented by a set of Bartolozzi prints which had belonged to old Jolyon, and by college photographs—of young men, live young men, a little heroic, and to be compared with her memories of Val. Jolyon also scrutinised with care that evidence of his boy's character and tastes.
Jolly was anxious that they should see him rowing, so they set forth to the river. Holly, between her brother and her father, felt elated when heads were turned and eyes rested on her. That they might see him to the best advantage they left him at the Barge and crossed the river to the towing-path. Slight in build—for of all the Forsytes only old Swithin and George were beefy—Jolly was rowing 'Two' in a trial eight. He looked very earnest and strenuous. With pride Jolyon thought him the best-looking boy of the lot; Holly, as became a sister, was more struck by one or two of the others, but would not have said so for the world. The river was bright that afternoon, the meadows lush, the trees still beautiful with colour. Distinguished peace clung around the old city; Jolyon promised himself a day's sketching if the weather held. The Eight passed a second time, spurting home along the Barges—Jolly's face was very set, so as not to show that he was blown. They returned across the river and waited for him.
"Oh!" said Jolly in the Christ Church meadows, "I had to ask that chap Val Dartie to dine with us to-night. He wanted to give you lunch and show you B.N.C., so I thought I'd better; then you needn't go. I don't like him much."
Holly's rather sallow face had become suffused with pink.
"Why not?"
"Oh! I don't know. He seems to me rather showy and bad form. What are his people like, Dad? He's only a second cousin, isn't he?"
Jolyon took refuge in a smile.
"Ask Holly," he said; "she saw his uncle."
"I liked Val," Holly answered, staring at the ground before her; "his uncle looked—awfully different." She stole a glance at Jolly from under her lashes.
"Did you ever," said Jolyon with whimsical intention, "hear our family history, my dears? It's quite a fairy tale. The first Jolyon Forsyte—at all events the first we know anything of, and that would be your great-great-grandfather—dwelt in the land of Dorset on the edge of the sea, being by profession an 'agriculturalist,' as your great-aunt put it, and the son of an agriculturist—farmers, in fact; your grandfather used to call them, 'Very small beer.'" He looked at Jolly to see how his lordliness was standing it, and with the other eye noted Holly's malicious pleasure in the slight drop of her brother's face.
"We may suppose him thick and sturdy, standing for England as it was before the Industrial Era began. The second Jolyon Forsyte—your great-grandfather, Jolly; better known as Superior Dosset Forsyte—built houses, so the chronicle runs, begat ten children, and migrated to London town. It is known that he drank sherry. We may suppose him representing the England of Napoleon's wars, and general unrest. The eldest of his six sons was the third Jolyon, your grandfather, my dears—tea merchant and chairman of companies, one of the soundest Englishmen who ever lived—and to me the dearest." Jolyon's voice had lost its irony, and his son and daughter gazed at him solemnly, "He was just and tenacious, tender and young at heart. You remember him, and I remember him. Pass to the others! Your great-uncle James, that's young Val's grandfather, had a son called Soames—whereby hangs a tale of no love lost, and I don't think I'll tell it you. James and the other eight children of 'Superior Dosset,' of whom there are still five alive, may be said to have represented Victorian England, with its principles of trade and individualism at five per cent. and your money back—if you know what that means. At all events they've turned thirty thousand pounds into a cool million between them in the course of their long lives. They never did a wild thing—unless it was your great-uncle Swithin, who I believe was once swindled at thimble-rig, and was called 'Four-in-hand Forsyte' because he drove a pair. Their day is passing, and their type, not altogether for the advantage of the country. They were pedestrian, but they too were sound. I am the fourth Jolyon Forsyte—a poor holder of the name—"
"No, Dad," said Jolly, and Holly squeezed his hand.
"Yes," repeated Jolyon, "a poor specimen, representing, I'm afraid, nothing but the end of the century, unearned income, amateurism, and individual liberty—a different thing from individualism, Jolly. You are the fifth Jolyon Forsyte, old man, and you open the ball of the new century."
As he spoke they turned in through the college gates, and Holly said: "It's fascinating, Dad."
None of them quite knew what she meant. Jolly was grave.
The Rainbow, distinguished, as only an Oxford hostel can be, for lack of modernity, provided one small oak-panelled private sitting-room, in which Holly sat to receive, white-frocked, shy, and alone, when the only guest arrived. Rather as one would touch a moth, Val took her hand. And wouldn't she wear this 'measly flower'? It would look ripping in her hair. He removed a gardenia from his coat.
"Oh! No, thank you—I couldn't!" But she took it and pinned it at her neck, having suddenly remembered that word 'showy'! Val's buttonhole would give offence; and she so much wanted Jolly to like him. Did she realise that Val was at his best and quietest in her presence, and was that, perhaps, half the secret of his attraction for her?
"I never said anything about our ride, Val."
"Rather not! It's just between us."
By the uneasiness of his hands and the fidgeting of his feet he was giving her a sense of power very delicious; a soft feeling too—the wish to make him happy.
"Do tell me about Oxford. It must be ever so lovely."
Val admitted that it was frightfully decent to do what you liked; the lectures were nothing; and there were some very good chaps. "Only," he added, "of course I wish I was in town, and could come down and see you."
Holly moved one hand shyly on her knee, and her glance dropped.
"You haven't forgotten," he said, suddenly gathering courage, "that we're going mad-rabbiting together?"
Holly smiled.
"Oh! That was only make-believe. One can't do that sort of thing after one's grown up, you know."
"Dash it! cousins can," said Val. "Next Long Vac.—it begins in June, you know, and goes on for ever—we'll watch our chance."
But, though the thrill of conspiracy ran through her veins, Holly shook her head. "It won't come off," she murmured.
"Won't it!" said Val fervently; "who's going to stop it? Not your father or your brother."
At this moment Jolyon and Jolly came in; and romance fled into Val's patent leather and Holly's white satin toes, where it itched and tingled during an evening not conspicuous for open-heartedness.
Sensitive to atmosphere, Jolyon soon felt the latent antagonism between the boys, and was puzzled by Holly; so he became unconsciously ironical, which is fatal to the expansiveness of youth. A letter, handed to him after dinner, reduced him to a silence hardly broken till Jolly and Val rose to go. He went out with them, smoking his cigar, and walked with his son to the gates of Christ Church. Turning back, he took out the letter and read it again beneath a lamp.
"DEAR JOLYON,
"Soames came again to-night—my thirty-seventh birthday. You were right, I mustn't stay here. I'm going
