The two managers, as well as Gabriel and Mercier, were hidden in such a way that they did not lose sight of the envelope for a second during the performance and even afterward, for, as the envelope had not moved, those who watched it did not move either; and Mme.

Giry went away while the managers, Gabriel and Mercier were still there.

At last, they became tired of waiting and opened the envelope, after ascertaining that the seals had not been broken.
At first sight, Richard and Moncharmin thought that the notes were still there; but soon they perceived that they were not the same.

The twenty real notes were gone and had been replaced by twenty notes, of the "Bank of St.Farce"![1] The managers' rage and fright were unmistakable.

Moncharmin wanted to send for the commissary of police, but Richard objected.