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ing fact that the despised journal was the property of Mr。 Benjamin White； and that he had no right whatever to tinker with it without that gentleman's approval； may have occurred to him； but； if it did； it occurred so momentarily that he did not notice it。 In these crises one cannot think of everything。
〃I'm on；〃 he said； briefly。
Psmith smiled approvingly。
〃That；〃 he said； 〃is the right spirit。 You will； I fancy； have little cause to regret your decision。 Fortunately； if I may say so； I happen to have a certain amount of leisure just now。 It is at your disposal。 I have had little experience of journalistic work； but I foresee that I shall be a quick learner。 I will bee your sub…editor； without salary。〃
〃Bully for you；〃 said Billy Windsor。
〃rade Jackson；〃 continued Psmith； 〃is unhappily more fettered。 The exigencies of his cricket tour will pel him constantly to be gadding about； now to Philadelphia； now to Saskatchewan； anon to Onehorseville； Ga。 His services； therefore； cannot be relied upon continuously。 From him； accordingly； we shall expect little but moral support。 An occasional congratulatory telegram。 Now and then a bright smile of approval。 The bulk of the work will devolve upon our two selves。〃
〃Let it devolve；〃 said Billy Windsor； enthusiastically。
〃Assuredly；〃 said Psmith。 〃And now to decide upon our main scheme。 You； of course； are the editor； and my suggestions are merely suggestions； subject to your approval。 But； briefly； my idea is that Cosy Moments should bee red…hot stuff。 I could wish its tone to be such that the public will wonder why we do not print it on asbestos。 We must chronicle all the live events of the day； murders； fires； and the like in a manner which will make our readers' spines thrill。 Above all； we must be the guardians of the People's rights。 We must be a search…light； showing up the dark spot in the souls of those who would endeavour in any way to do the PEOPLE in the eye。 We must detect the wrong…doer； and deliver him such a series of resentful buffs that he will abandon his little games and bee a model citizen。 The details of the campaign we must think out after； but I fancy that； if we follow those main lines； we shall produce a bright； readable little sheet which will in a measure make this city sit up and take notice。 Are you with me； rade Windsor？〃
〃Surest thing you know；〃 said Billy with fervour。
CHAPTER VI
THE TENEMENTS
To alter the scheme of a weekly from cover to cover is not a task that is pleted without work。 The dismissal of Cosy Moments' entire staff of contributors left a gap in the paper which had to be filled； and owing to the nearness of press day there was no time to fill it before the issue of the next number。 The editorial staff had to be satisfied with heading every page with the words 〃Look out！ Look out！！ Look out！！！ See foot of page！！！！〃 printing in the space at the bottom the legend； 〃Next Week！ See Editorial！〃 and piling in conjunction a snappy editorial； setting forth the proposed changes。 This was largely the work of Psmith。
〃rade Jackson；〃 he said to Mike； as they set forth one evening in search of their new flat； 〃I fancy I have found my metier。 merce； many considered； was the line I should take； and doubtless； had I stuck to that walk in life； I should soon have bee a financial magnate。 But something seemed to whisper to me； even in the midst of my triumphs in the New Asiatic Bank； that there were other fields。 For the moment it seems to me that I have found the job for which nature specially designed me。 At last I have Scope。 And without Scope； where are we？ Wedged tightly in among the ribstons。 There are some very fine passages in that editorial。 The last paragraph； beginning 'Cosy Moments cannot be muzzled；' in particular。 I like it。 It strikes the right note。 It should stir the blood of a free and independent people till they sit in platoons on the doorstep of our office； waiting for the next number to appear。〃
〃How about that next number？〃 asked Mike。 〃Are you and Windsor going to fill the whole paper yourselves？〃
〃By no means。 It seems that rade Windsor knows certain stout fellows； reporters on other papers； who will be delighted to weigh in with stuff for a moderate fee。〃
〃How about Luella What's…her…name and the others？ How have they taken it？〃
〃Up to the present we have no means of ascertaining。 The letters giving them the miss…in…baulk in no uncertain voice were only despatched yesterday。 But it cannot affect us how they writhe beneath the blow。 There is no reprieve。〃
Mike roared with laughter。
〃It's the rummiest business I ever struck；〃 he said。 〃I'm jolly glad it's not my paper。 It's pretty lucky for you two lunatics that the proprietor's in Europe。〃
Psmith regarded him with pained surprise。
〃I do not understand you； rade Jackson。 Do you insinuate that we are not acting in the proprietor's best interests？ When he sees the receipts； after we have handled the paper for a while； he will go singing about his hotel。 His beaming smile will be a by…word in Carlsbad。 Visitors will be shown it as one of the sights。 His only doubt will be whether to send his money to the bank or keep it in tubs and roll in it。 We are on to a big thing； rade Jackson。 Wait till you see our first number。〃
〃And how about the editor？ I should think that first number would bring him back foaming at the mouth。〃
〃I have ascertained from rade Windsor that there is nothing to fear from that quarter。 By a singular stroke of good fortune rade Wilberflosshis name is Wilberflosshas been ordered plete rest during his holiday。 The kindly medico； realising the fearful strain inflicted by reading Cosy Moments in its old form； specifically mentioned that the paper was to be withheld from him until he returned。〃
〃And when he does return； what are you going to do？〃
〃By that time； doubtless； the paper will be in so flourishing a state that he will confess how wrong his own methods were and adopt ours without a murmur。 In the meantime； rade Jackson； I would call your attention to the fact that we seem to have lost our way。 In the exhilaration of this little chat； our footsteps have wandered。 Where we are； goodness only knows。 I can only say that I shouldn't care to have to live here。〃
〃There's a name up on the other side of that lamp…post。〃
〃Let us wend in that direction。 Ah； Pleasant Street？ I fancy that the master…mind who chose that name must have had the rudiments of a sense of humour。〃
It was indeed a repellent neighbourhood in which they had arrived。 The New York slum stands in a class of its own。 It is unique。 The height of the houses and the narrowness of the streets seem to condense its unpleasantness。 All the smells and noises； which are many and varied； are penned up in a sort of canyon； and gain in vehemence from the fact。 The masses of dirty clothes hanging from the fire…escapes increase the depression。 Nowhere in the city does one realise so fully the disadvantages of a lack of space。 New York； being an island； has had no room to spread。 It is a town of human sardines。 In the poorer quarters the congestion is unbelievable。
Psmith and Mike picked their way through the groups of ragged children w