With a proud movement the count imposed silence.

He drew from his pocket several bills of exchange.

"You see," he said, turning them over, "the forged bills are in my hands, a prison will be your destination if I give these into the hands of a magistrate."

Every trace of self-confidence had disappeared from Herr Balzer's common-looking face. "With bewildered fear he looked at the count without speaking a word.

"You are a lost man," he said coldly, "and if you have a spark of honour left, you will prefer death to the future before you."

Herr Balzer raised his hands in speechless agony, as if imploring the count for mercy.

He looked at him severely and proceeded:

"I will not, however, destroy you, I will give you the opportunity of beginning a new life."

A ray of joy shone in the exchange-agent's eyes; he did not yet understand, but he began to hope.

"Count," he cried, "command----"