"We have wondered not a little at your readiness to invest such a fortune in our securities."

"Well, there you have it. Investment, that's all. Your credit is sound, and your resources unquestioned, your bonds gilt-edge. I am glad of the opportunity to take a few dollars out of Wall Street uncertainties and put 'em into something absolutely certain. Groo—Gras—er—Groostock bonds are pretty safe things to have lying in a safety vault in these times of financial unrest. They create a pretty solid fortune for my family,—that is to say, for my daughter and her children. A sensible business man,—and I claim to be one,—looks ahead, my lords. Railroads are all right as long as you are alive and can run them yourself. It's after you are dead that they fail to do what is expected of them. New fingers get into the pie, and you never can tell what they'll pull out in their greediness. I cannot imagine anything safer in the shape of an investment than the bonds of a nation that has a debt of less than fifty million dollars. As a citizen of a republic whose national debt is nearly a billion, I confess that I can't see how you've managed so well."

"We are so infinitesimal, Mr. Blithers, that I daresay we could be lost in the smallest of your states," said Baron Romano, with a smile.

"Rhode Island is pretty small," Mr. Blithers informed him, without a smile.

"It is most gratifying to Graustark to know that you value our securities so highly as a legacy," said Count Lazzar, suavely. "May I venture the hope, however, that your life may be prolonged beyond the term of their existence? They expire in a very few years—a dozen, in fact."

"Oh, I think I can hang on that long," said Mr. Blithers, a little more at ease. He was saying to himself that these fellows were not so bad, after all. "Still one never knows. I may be dead in a year. My daughter—but, of course, you will pardon me if I don't go into my private affairs. I fear I have already said too much."

"On the contrary, sir, we are all only too willing to be edified. The workings of an intelligence such as jours cannot fail to be of interest to us who are so lacking in the power to cope with great undertakings. I confess to a selfish motive in asking you about your methods of—er—investment," said the Minister of Finance. Mr. Blithers failed to see that he was shrewdly being led up to a matter that was of more importance to Graustark just then than anything along financial lines.

"I am only too willing, my lords, to give you the benefit of my experience. Any questions that you may care to ask, I'll be glad to answer to the best of my ability. It is only natural that I should take a great personal interest in Graustock from now on. I want to see the country on the boom. I want to see it taking advantage of all the opportunities that—er—come its way. There may be a few pointers that William W. Blithers can give you in respect to your railways and mines—and your general policy, perhaps. I hope you won't hesitate about asking."

The Prime Minister tapped reflectively upon the table-top with his fingers for a moment or two.

"Thank you," he said. "We are at this very moment in something of a quandary in respect to the renewal of a treaty with one of our neighbours. For the past twenty years we have been in alliance with our next door neighbours, Axphain on the north and Dawsbergen on the south and east. The triple alliance will end this year unless renewed. Up to the present our relations have been most amiable. Axphain stands ready to extend our mutual protective agreement for another term of years, but Dawsbergen is lukewarm and inclined to withdraw. When you become better acquainted with the politics of our country you will understand how regrettable such an action on the part of a hitherto friendly government will be."