much as that," Guy admitted.

"This movement," the Duke said, "has been looked upon with growing
distaste and disfavor in Russia. Russia is the traditional and
inevitable enemy of your country. Russia had, I may go so far as to say,
made up her mind for war with England very soon after her first reverses
at the hands of Japan. I am telling you now what is a matter of common
knowledge amongst diplomatists when I tell you that it was the attitude
of my country--of France--which alone has stayed her hand."

"This is very interesting," Guy said, "even to me, who have never taken
any interest in politics, but----"

"Wait! Russia, as I say, found us indisposed to back her in any quarrel
with England. She turned then, of course, to Germany. We became aware,
through our secret service, that something was on foot between the two
countries. With our utmost vigilance we were unable to obtain any
particulars. It is you, Monsieur Poynton, who have brought us the first
information of a definite character."

Guy looked his amazement, but he said nothing.

"To you," the Duke continued, "a secret meeting between these two
monarchs may not seem at all an astonishing thing. To us it is of the
gravest political importance. Some sort of an understanding was arrived
at between them. What was it? That sheet of paper which was once in your
possession might very possibly contain the clue. Now you can appreciate
its importance to us."

"What an ass I was not to take more care of it!" Guy muttered.

"There are other things to be considered," the Duke continued. "For the
last month every dockyard in Germany has been working night and day, and
we have authentic information as to a huge mobilization scheme which is
already on foot. We might have wondered against whom these preparations
were intended but for you. As it is, the English Government has been
fully apprised of everything. Your magnificent fleet, under the pretext
of seeing the Baltic Squadron safely on its way, has been gradually
concentrated. From despatches to the German Ambassador which we have
managed to intercept in England, we know that it is intended to raise a
_casus belli_ during the presence of the squadron in British waters.
Quite unexpectedly, as it was hoped, Germany was to range herself on
Russia's side and strike against England. We, Russia's nominal ally,
have had no intimation of this whatever. We are apparently left to
ourselves--ignored. Our friendship with your