Now, then, why did not Jonathan Small get the treasure himself?
The answer is obvious.
The chart is dated at a time when Morstan was brought into close association with convicts.

Jonathan Small did not get the treasure because he and his associates were themselves convicts and could not get away." "But that is mere speculation," said I.
"It is more than that.

It is the only hypothesis which covers the facts.

Let us see how it fits in with the sequel.

Major Sholto remains at peace for some years, happy in the possession of his treasure.