"I plunge at once," he said, "into the middle of things. There is always the fear that we may be disturbed."

Nikasti inclined his head.

"It is best," he agreed.

"You are aware," Von Schwerin continued, "that the Imperial Government of Germany has already made formal overtures, through a third party, to the Emperor of Japan with reference to an alteration in our relations?"

"There was talk of this in Tokio," Nikasti observed softly. "Japan, however, is under obligations—treaty obligations. Her honour demands that these should be kept."

"The honour of a country," Baron von Schwerin acknowledged, "is, without doubt, a sacred charge upon her rulers, but above all things in heaven or on earth, the interests of her people must be their first consideration. If a time should come when the two might seem to clash, then it is the task of the statesman to recognise this fact."

Nikasti bowed.

"It is spoken," he confessed, "like a great man."

"Your country," Von Schwerin continued, "is at war with mine because it seemed to her rulers that her interests lay with the Allies rather than with Germany. I will admit that my country was at fault. We did not recognise to its full extent the value of friendship with Japan. We did not bid high enough for your favours. Asia concerned us very little. We looked upon the destruction of our interests there in the same spirit as that with which we contemplated the loss of our colonies. All that might happen would be temporary. Our influence in Asia, our colonies, will remain with us or perish, according to the result of the war in Europe. But our statesmen overlooked one thing."

"Our factories," Nikasti murmured.