"It is the first of a series," Julien admitted.

"You know," Herr Freudenberg remarked, glancing at his finger-nails for a moment, "that it is most diabolically clever?"

"You flatter me," Julien murmured.

"Not at all. I have spoken the truth. I am here to know what price you will take to suppress the remainder of the series."

Julien considered.

"I will take," he replied, "the exact amount of the last war indemnity which was paid to you by France."

Herr Freudenberg smiled.

"A mere trifle to the war indemnity we shall be asking from England before very long."

"I am not avaricious," Julien declared. "Those are my terms."

Herr Freudenberg sighed.