Mr. Dance and Jim arrive to Dr. Livesey’s house, where Squire Trelawney, a tall, rough-faced man, is also sitting by the fire. Mr. Dance tells the story, and Jim pulls out the oilskin packet.
Livesey and Trelawney are more stable authority figures than the captain, though they too are fascinated by the contents of the bag.
First, though, they eat dinner, and the squire talks about Captain Flint, the most violent and bloodthirsty pirate of all time. Dr. Livesey asks if Flint had money: the squire exclaims that his treasure is well-known. The three then open the bundle. On the first page there are only a few scrawled lines; the next few pages include latitude and longitude and some accounts of debts. The squire exclaims that this must be Billy Bones’ account book, including the ships sunk and towns plundered.
The captain (Billy Bones) had mentioned Captain Flint to Jim: now Jim learns the importance of Flint’s name, as well as the connotations it has with treasure. The bundle, though, seems at first only to yield day-to-day, humdrum pirate operations—even if these operations include great acts of destruction and violence.
The final page is folded and sealed. When Dr. Livesey pries open the seal, a detailed map of an island falls out. There’s a hill in the center marked “the Spy-glass” and a careful mark signaling where treasure is located, along with directions written on the back.
Jim isn’t sure what all the fuss is about, but the squire and doctor are thrilled. Squire Trelawney cries that they’ll draw up a crew, bring Jim on as a cabin-boy, and set out on the next ship available. The doctor, however, is a little concerned, realizing that the other pirates know about the existence of this map too—the three of them must not breathe a word to anyone, and must never be alone until they set sail from Bristol.
For Jim, it’s unclear why a simple map causes such glee: he’s still processing the wild tales of treasure, shipwreck, and intrigue related to Captain Flint and Billy Bones. Already, it is clear that the treasure hunt will be an intense competition between competing parties.