"yes, but they're nearly all dead now. you see, wendy, when the first baby laughed for the very first time, the laugh broke up into a thousand pieces of light, and they all went skipping about, and that was the beginning of fairies. So now every time a new baby is born, its first laugh becomes a fairy."
"there oughta be a fairy for every girl and boy."
"oughta be? isn't there?"
"oh, no. children know such a lot now. soon they don't believe. and every time a child says 'i don't believe in fairies', there's a fairy someplace that falls down dead."