ss the details of the treaty."

"I think that first, perhaps, I should look at your credentials," Vard
suggested.

"That is just," and Pachmann, getting out his pocket-book, took from it
the envelope sealed with the black seal, and handed it to Vard.

Vard took it, glanced at the seal, and hesitated, just as the captain of
the _Ottilie_ had done.

"I am to open it?" he asked.

Pachmann nodded.

"It contains my credentials," he said.

A careful inspection of the seal would have disclosed the fact that the
envelope had already been opened once--perhaps more than once--but Vard
made no such inspection. Instead, he broke the seal with nervous
fingers, and drew out the stiff sheet blazing with the Royal insignia.
This is the English of what he read:

"Herewith do I grant to the bearer of this paper, Admiral H.
Pachmann, power extraordinary as my representative, to enter
into agreements, to make treaties, and to sign the same; and
I do further declare that I shall consider myself bound by
such agreements and signatures as though I myself had made
them; and, finally, I command all members of my family, all
officers of my army and navy, all members of my diplomatic
corps, and all good Germans generally, to yield to him the
same obedience they would yield to me; all this for the good
of my Empire.

"Signed,

"WILLIAM, R. I.
WILHELMSHOeHE, September 21, 1911."

Vard re-read this extraordinary paper, then replaced it in its envelope
and silently returned it to its owner. Again that ironical smile flashed
across Pachmann's lips, as he restored it to his pocket-book.

"You find it ample, do you not?" he asked.

Vard nodded, and glanced curiously at the Prince, wondering if that
young man was aware of the exact wording of this remarkable document,
especially of the clause, "all members of my family."

"And now," proceeded Pachmann, adjusting himself to an easier posture,
"we shall be glad to hear the further details of your proposal."

Vard paused for a moment to collect his thoughts.

"There is one thing I would understand first," he said. "From that
paper, I infer that the Emperor alone is concerned in this--that his
cabinet is not aware of it."

"No member of the cabinet except one--whom I will not name," assented
Pachmann. "I will not conceal from you that the Emperor is desirous of
reaping for himself the full glory of this achie