"Immigration statistics of the last ten years prove to any sane man that the natives are returning to their fatherland in unprecedented numbers. Read for yourself." The pause that followed, broken only by the rustling of papers, was evidently devoted to a perusal of documents. Then Langdon's voice again took up the theme.

"All right, Billy, but what do you expect to prove by the fact that eighty thousand men came here from Krovitch in the last ten years and sixty thousand return this year?"

"By the fact that it is men that are going back—not women or children; that Krovitzers don't love Russia well enough to return as volunteers against Japan; by the fact that ten thousand are trained soldiers."

"How do you know the last?"

"Private information." Billy's tone was significant. "War Department; don't repeat. Their enlistment up with Uncle Sam, these men have asked for their discharges. All first-class soldiers and non coms."

"Hm," Langdon commented, partially convinced; then, as a new objection struck him, his tone was once more argumentative. "They can't fight without a backer," he continued. "Banking houses to-day control peace and war as immutably as Christianity should. I don't believe that any one would back them."

"Here comes Jackson, he'll know," Saunderson said as the door opened to admit another man who instantly joined them.

"What's that you are leaving up to me, Billy? Do I hold the stakes?" Carter recognized the voice as that of one of his bitterest opponents in the stock battle.

"Saunderson says that there will be real fighting in Krovitch," said Langdon. "What does the money mart say?" Appealed to unexpectedly on this topic, Jackson laughed a trifle consciously.

"Well, in strict confidence," he replied, "I'll tell you that I am in a pool to finance things over there. That coup of Carter's pretty nearly dumped me on it, too."