The sun was setting over Rainbow Valley. The pond was wearing a wonderful tissue of purple and gold and green and crimson. A faint blue haze rested on the eastern hill, over which a great, pale, round moon was just floating up like a silver bubble.

They were all there, squatted in the little open glade--Faith and Una, Jerry and Carl, Jem and Walter, Nan and Di, and Mary Vance. They had been having a special celebration, for it would be Jem's last evening in Rainbow Valley. On the morrow he would leave for Charlottetown to attend Queen's Academy. Their charmed circle would be broken; and, in spite of the jollity of their little festival, there was a hint of sorrow in every gay young heart.

"See--there is a great golden palace over there in the sunset," said Walter, pointing. "Look at the shining tower--and the crimson banners streaming from them. Perhaps a conqueror is riding home from battle--and they are hanging them out to do honour to him."

"Oh, I wish we had the old days back again," exclaimed Jem. "I'd love to be a soldier--a great, triumphant general. I'd give EVERYTHING to see a big battle."