W1l7ILLIAM PHIPS returned to London from his first treasure hunt in the early fall of i685.' But the astrologer's prophecy that he would find "a mighty treasure" was unfulfilled. A "coarse bar of silver," disclosed by a later accounting, proved that the venture to the Caymanas had not been altogether fruitless. Yet James II, whose royal brother had lent the Golden Rose for the project, had no reason to congratu-