The coast of Bombay was in plain sight, the province, or state, whose capital has the same name. Groves of cocoanut, date, and other palm-trees bordered it; and far back of it was a range of mountains, the Western Ghats, a chain extending for hundreds of miles along the shore, though from twenty to fifty miles from it.

The fishing-boats were Oriental, and nothing new to the tourists; but the men in them were swarthy-looking fellows, not abundantly provided with clothing. The greater portion of India has a warm climate, and the dress of the people is adapted to it. For the most part, the natives are bundled up in loose white cotton cloth, or what was originally white, which they twist about their bodies with a skill acquired by practice. But these boatmen were almost in a primitive condition.

The distinguished guests on board of the Guardian-Mother were perfectly familiar with Bombay and its surroundings, as they were with all of the country, and their services were just now in demand. The Woolridges had attached themselves to Lord Tremlyn; Louis Belgrave was very likely to be in their company most of the time, and the viscount had manifested no little interest in the young millionaire. He was pointing out the country, and describing it, to this group of four.

Dr. Ferrolan was not so much of a ladies' man as his two younger companions, and was rendering similar service to his professional brother, Uncle Moses, and Professor Giroud. They formed a quartet of educated men, and were more in touch with each other than they might otherwise have been. Sir Modava Rao had attracted to his side Mrs. Belgrave; Mrs. Blossom was usually her shadow; and of course Captain Ringgold, when not employed in his duties in the navigation of the steamer, gravitated, not materially but sentimentally, to this group; for wherever Mrs. Belgrave was, the commander was not far off.

Felix divided himself up among the three parties; and, as he was a lively boy, he afforded no little amusement to all of them. The entire company, including the captain and the third officer, who were to take part in the business of sight-seeing, consisted of sixteen persons, which was just the complement for four carriages, if they were large enough to seat four.

The pilot came on board, and was inducted into the pilot-house. He spoke English, and seemed to be a bright fellow so far as his occupation was concerned. The pilots are said to "pool their issues," and divide their fees. They take their own time, therefore, and are very independent. But this one, when informed that the Guardian-Mother was a yacht conveying a young millionaire all-over-the-world, was very respectful and deferential.

"I have heard of this vessel before, and they say here that the young rajah is worth millions of pounds," said he, when he had laid the course of the steamer.

"I suppose he is as well off as some of your Grand Moguls; but I think you had better call it dollars instead of pounds," replied Mr. Boulong, laughing at the absurdity of the story; but the pilot knew nothing about dollars, and perhaps the reports had been swelled by changing the unit of American currency into that of the British Empire.

"Now you can see the islands more distinctly," said Lord Tremlyn to his group.

"I don't see any islands," replied Miss Blanche.

"They are too near together to be distinguished separately. The Bombay to which we are going is an island eleven and a half miles long. The town has an abundant territory; but large as it is, portions of it are very densely peopled, averaging twenty-one inmates to a house," continued the viscount. "Next to Calcutta it is the largest city in India, and comes within 40,000 of that.

"Bombay has had its vicissitudes. Of course you know that your Civil War produced a cotton famine in Europe; but it raised this city to the pinnacle of prosperity. A reign of speculation came here, and it was believed that Bombay would be the leading cotton mart of the world. Companies were organized to develop the resources of the country in the textile plant; and the fever raged as high as it did when the South Sea Bubble was blown up, or as it has sometimes in New York and other cities of your country.

"New banks were started; merchants plunged recklessly into the vortex of speculation. Then came the news of the surrender of General Lee, and the end of the war in America. The bubble burst, even before it was fully inflated, and the business prosperity of Bombay collapsed. The certificates of shares in companies and banks were not worth the paper on which they were written. Even the Bank of Bombay, believed to be as solid as the 'Old Lady' of Threadneedle Street, had to suspend, and the commercial distress was frightful.

"But it left its lesson behind it; and since that time Bombay has patiently and painfully regained its former solid prosperity. It has recovered what it lost, and is now steadily increasing in population and wealth."

"I never heard of the South Sea Bubble of which you speak," said Louis.

"That is not strange, as it was an affair of one hundred and eighty-one years ago," replied Lord Tremlyn. "I have not time now to describe it in full. The floating debt of England at that time was £10,000,000; and the Earl of Oxford concocted a scheme to pay it off, and formed a company of merchants for that purpose. The riches of the South Sea Islands, including South America, were most extravagantly estimated at that time, and the monopoly of the trade was secured by the company formed. The 'South Sea Company' was bolstered up by the pledge of the duties on the imports from these far-off regions, and the shares sold like wild-fire, increasing in price in the most extraordinary manner. Shares at a par of £100 were quoted at £550 in May, and £890 in June.

"The failure of the Mississippi Scheme, projected in France by John Law to develop the resources of the American State of Louisiana, alarmed the shareholders; but the managers declared that they had avoided the errors of Law in their finances, and the enterprise still prospered. A mania for stock-gambling spread over England, and the people seemed to have lost their wits. The most tremendous excitement prevailed. The crisis came, and it was realized that the scheme was a fraudulent one. Some of the biggest operators sold out their stock, and a panic ensued. Consternation came upon the bubble capitalists, and financial ruin stared them and their dupes full in the face.

"The country was stirred to its very foundations. Parliament was called together, and the books of the company were examined. The 'Bubble' had burst, as it did in Bombay. The private property of the directors............