The Mifkets uttered cries of rage as they observed the escape of their intended victims, and rushed forward to follow them. But immediately a great flood of water began falling just at the place where the children and John had entered, and as the Mifkets recoiled from this new danger our friends heard a soft voice say, with a little laugh: "They will not dare to follow you now. Come with me, and be careful not to slip." John looked down, and saw a handsome beaver standing beside him. His fur was the color of silver, and upon his head was a tiny golden crown set with jewels so bright and sparkling that the rays lighted the dim place like so many sunbeams. The Beaver King's face was calm and dignified, and his eyes kindly and intelligent. Without further speech he led the way far under the roaring waterfall; and the space between the dark wall of the dam and the sheet of water was so narrow that the air was filled with a fine spray, which moistened John's gingerbread in a way that caused him great uneasiness. But, lighted by the radiance of the King Beaver's crown, they soon came to a place directly under the center of the fall, and here their conductor halted and tapped three times upon the surface of the wall. It opened instantly, disclosing a broad passage, and through this the King led them, the wall closing just behind them as they entered. The noise of the waterfall now sounded but dimly in their ears, and presently they emerged into a large vaulted room, which was so beautiful that the little Princess clasped her hands with a long-drawn sigh of delight, Chick laughed, and John removed from his head the crumpled and soiled silk hat that he had clung to ever since he had left the bakery. He had seen beautiful rooms in the Island of Romance, but nothing there could compare with the magnificence and grandeur of this hall of the Fairy Beaver's palace. The walls were set thick with brilliant jewels, arranged in a way that formed exquisite pictures, all of these borrowing color from the natural tints of the gems. The ceiling was clustered with tiny glass globes, in each of which was a captured sunbeam; and these lent a charming radiance to the splendid room. Many cushions were strewn upon the floor, and the floor itself was of gold, richly engraved with scenes depicting the lives and adventures of beavers. While our friends admired the loveliness of the Hall of the Beavers, the silver-furred King spoke again, in his soft voice: "You are now underneath the deep water formed by our dam, which was built by the beavers who were our forefathers many years ago, and which has endured until now. But in all the years of its existence the little Princess and the Incubator Baby are the first human beings to be admitted to our fairy palace. Your companion, my dears, is merely gingerbread, and lives by means of fairy powers that make him a fit comrade for fairies the world over." "It was very good of you to save us from the Mifkets, and we are grateful," said the girl. "You're all right!" added Chick, emphatically. "I am glad to be of service to one so sweet and beautiful," returned the King, with a dignified bow toward the Princess, "and to one so merry and frank," he continued, turning to Chick. "And now, if you will kindly follow me, I will show you the rooms of my palace, and introduce you to my people. You must be content to remain my guests until I can find means to restore you to the freedom of the upper world in which you are accustomed to exist." He led them through the gorgeous hall and along delightful passages into various rooms. Some were large and some were small, but all were extremely beautiful, and Chick wondered greatly at the extent of this under-water palace, the existence of which no one could suspect who stood in the forest above, beside the dam of the beavers. "Are all beavers' homes like this?" asked the child. "No, indeed!" answered the King, laughing softly. "They are usually houses composed of mud, mixed with bits of wood and the leaves and branches of trees. But I am King of the Beaver Fairies, who watch over the fortunes of all ordinary beavers and take care of them. We are invisible, even to beavers; and the eyes of mankind can never see us unless, as in your case, we permit them to do so. These rooms seem to you deserted, but I assure you they are filled with many beaver fairies, who are even now watching you with much curiosity." Both the children started at hearing this, and glanced hastily around; but nothing but the walls of the palace met their gaze, and the King smiled upon them indulgently. "At our banquet, this evening," said he, "I will permit you to see my people.