, penetrating gaze
of the Oriental.

"The message you have just received bears on the subject of our
conversation, does it not?" he inquired, but in the tone of one who
does not doubt what the answer will be.

With the caution which has become a habit with me, I read the cable
through carefully for the second time, and then placed it on the
fire, where it was instantly consumed.

The Japanese statesman smiled.

"You forget, I think, M. V----, that you have come here as the
emissary of a sovereign with whom we are at war, and that,
consequently, we cannot afford to respect your privacy.

"I have a copy in my pocket," he went on urbanely. "You have felt
some curiosity about a particular brand of cigarettes, and your
friends have just informed you that they are those supplied to the
German Emperor."

I looked at Mr. Katahashi with new respect.

"Your secret service is well managed, sir," I observed.

"Such a compliment from such a quarter is an ample reward for what
little pains I may have taken."

"Then it is you who are----?"

"The organizer of our secret service during the war?--I am."

"But you are a banker?" I turned my eyes to the card by which Mr.
Katahashi had announced his visit.

The Japanese gave another of his subtle smiles--those peculiar smiles
of the Oriental which make the keenest-witted man of the West feel
that he is little better than a blunderer.

"I came here prepared to take you into my confidence," he said
gravely. "I am well aware that it is the only safe course in dealing
with the Bismarck of underground diplomacy.

"I am equally well aware," the Privy Councillor added, "that a secret
confided to Monsieur V---- is as safe as if it had been told in
confidence to a priest of Buddha, for whom the penalty of betrayal is
to be flayed alive."

CHAPTER XII

THE SECRET SERVICE OF JAPAN

"Three years ago," Mr. Katahashi proceeded, "when we first recognized
that Japan would be obliged to fight Russia for her existence as a
free and independent country, his imperial majesty the Mikado
appointed me head of the intelligence department.

"I perceived that it would be necessary for me to establish centers
in the chief European capitals, and to have at my command a corps of
agents whose comings and goings would not attract the attention that
is usually given to the movements of persons connected with the staff
of an embassy.

"In our case precautions were necessary which would no