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No sooner, in fact, had I sent it off than a curious reaction came over me. It seemed to me that I had given away my capacity for belief in the Willie Hughes theory of the Sonnets, that something had gone out of me, as it were, and that I was perfectly indifferent to the whole subject. What was it that had happened? It is difficult to say. Perhaps, by finding perfect expression for a passion, I had exhausted the passion itself. Emotional forces, like the forces of physical life, have their positive limitations. Perhaps the mere effort to convert any one to a theory involves some form of renunciation of the power of credence. Perhaps I was simply tired of the whole thing, and, my enthusiasm having burnt out, my reason was left to its own unimpassioned judgment. However it came about, and I cannot pretend to explain it, there was no doubt that Willie Hughes suddenly became to me a mere myth, an idle dream, the boyish fancy of a young man who, like most ardent spirits, was more anxious to convince others than to be himself convinced.

As I had said some very unjust and bitter things to Erskine in my letter, I determined to go and see him at once, and to make my apologies to him for my behaviour. Accordingly, the next morning I drove down to Birdcage Walk, and found Erskine sitting in his library, with the forged picture of Willie Hughes in front of him.

‘My dear Erskine!’ I cried, ‘I have come to apologise to you.’

‘To apologise to me?’ he said. ‘What for?’

‘For my letter,’ I answered.

‘You have nothing to regret in your letter,’ he said. ‘On the contrary, you have done me the greatest service in your power. You have shown me that Cyril Graham’s theory is perfectly sound.’

‘You don’t mean to say that you believe in Willie Hughes?’ I exclaimed.

‘Why not?’ he rejoined. ‘You have proved the thing to me. Do you think I cannot estimate the value of evidence?’

‘But there is no evidence at all,’ I groaned, sinking into a chair. ‘When I wrote to you I was under the influence of a perfectly silly enthusiasm. I had been touched by the story of Cyril Graham’s death, fascinated by his romantic theory, enthralled by the wonder and novelty of the whole idea. I see now that the theory is based on a delusion. The only evidence for the existence of Willie Hughes is that picture in front of you, and the picture is a forgery. Don’t be carried away by mere sentiment in this matter. Whatever romance may have to say about the Willie Hughes theory, reason is dead against it.’

‘I don’t understand you,’ said Erskine, looking at me in amazement. ‘Why, you yourself have convinced me by your letter that Willie Hughes is an absolute reality. Why have you changed your mind? Or is all that you have been saying to me merely a joke?’

‘I cannot explain it to you,’ I rejoined, ‘but I see now that there is really nothing to be said in favour of Cyril Graham’s interpretation. The Sonnets are addressed to Lord Pembroke. For heaven’s sake don’t waste your time in a foolish attempt to discover a young Elizabethan actor who never existed, and to make a phantom puppet the centre of the great cycle of Shakespeare’s Sonnets.’

‘I see that you don’t understand the theory,’ he replied.

‘My dear Erskine,’ I cried, ‘not understand it! Why, I feel as if I had invented it. Surely my letter shows you that I not merely went into the whole matter, but that I contributed proofs of every kind. The one flaw in the theory is that it presupposes the existence of the person whose existence is the subject of dispute. If we grant that there was in Shakespeare’s company a young actor of the name of Willie Hughes, it is not difficult to make him the object of the Sonnets. But as we know that there was no actor of this name in the company of the Globe Theatre, it is idle to pursue the investigation further.’