Experience convinced Paul that the tales of vast treasure in the Indies were more fabled than real; still, strange to say, old Balbo firmly believed in them.

Every time the water closed over Paul's copper helmet, his sanguine nature firmly expected that untold wealth was about to be opened up to them.

During this cruise Paul had neglected no opportunity to secure rare specimens of shells and other marine novelties.

In a letter he received from his father during his last visit to Nassau, he was informed that his share of the goods shipped had covered the cost of the submarine armour, dredging apparatus, etc., and that he had placed eight hundred and sixty dollars to his credit in a New York bank.

This letter he showed to Balbo who to use his own expression, was "thrown on his beam ends" with astonishment.