"I do not believe that the Power whose intervention he relies so much upon is England. I do not believe that my country would risk so much to gain so little. We are on excellent terms with France as it is. Secret negotiations with Mr. de Valentin would be unpardonable chicanery on our part, and I do not think that our ministers would lend themselves to it."

Mr. Van Reinberg nodded.

"Whom do you believe he referred to then?" he asked.

"Germany," I told him. "That is where I believe that he has made a fatal mistake. He will never make a successful bid for the sympathies of the French people, if he presents himself before them backed by their historic enemy. Of course, you must understand," I added, "that this is pure speculation on my part. I may be altogether wrong. One can only surmise."

"On the whole, then," Mr. Van Reinberg asked anxiously, "you would not back his chances?"

"I should not," I admitted.

For a man who had just invested two million dollars in those chances, Mr.
Van Reinberg looked remarkably cheerful.

"I'm right down glad to hear you say that," he admitted. "I know nothing about things over in Europe myself, and my wife seemed so confident. It'll be a blow to her, I'm afraid, if it doesn't come off; but I fancy it'll be a bigger one to me if it does!"

"You do not fancy yourself, then, as Monsieur le Duc," I remarked smiling.

He looked at me in speechless scorn.