He had found the purse on the beach a little while before.

When he had told Tim of it, the reckless fellow, still the same person as before, notwithstanding his promises and his altered demeanor, had led him over to this retired spot in order to get possession of the purse.
"Nonsense! Nobody will suspect you," replied Tim, as he poured out the silver and gold in the other end of the purse.
"I never did such a thing in my life." "No matter; there must be a beginning to everything." "What would my mother say ?" "She will say you are a clever fellow if you don't get found out.

Eleven dollars and a quarter in specie! That makes seventy-one twenty-five--don't it ?" "Yes." "All right! We will just dig a little hole here, and put the purse into it," continued Tim, as he scooped out a hole in the sand, and dropped the ill-gotten treasure into it.
Filling up the hole, he placed a large flat stone upon the spot, which further secured the purse, and concealed the fact that the sand had been disturbed.
"I am sure we shall get found out," said Charles, trembling with apprehension.
"Nonsense! Keep a stiff upper lip; don't stop to think, and all will go well.

But, my hearty, if you peach on me, I give you my word, I will take your life before you are one month older--do you hear ?" And Tim's fierce looks gave force to his words.

"Now, we will go back to the rest on 'em before they miss us.