THE KING—I trust this may indeed be the end of your journey. I think I may say that Marma is a model kingdom. As you doubtless know, the capital city is Grenoble, with a population of 145,000, according to the last census. We have modern waterworks, a library with more than 10,000 volumes, an art museum, a tannery, three cathedrals, two opera houses and numerous moving picture theaters. The principal industries, as you may recall, are salt fish, woolen blankets, pottery, dried raisins and shrapnel.

THE TAILOR—Your majesty will pardon me if I say that I don't give a fig for your raisins or your dried fish or the cathedrals, or even the library with the 10,000 volumes. What I am seeking is a man with eyes to see.

THE KING—No one has better eyes than myself, I'm sure. I have shot as many as a hundred pheasants in an afternoon, and, if you will pardon the allegorical allusion, I can see loyalty and virtue though they reside in the breast of the most distant and humble subject in my kingdom.

THE TAILOR—Perhaps, then, you can see my cloth. It is a marvelous cloth. It was one of the gifts the wise men brought to the Child. It lay across his feet in the manger. But in order that its richness should not attract the attention of Herod, the wise men decreed that the cloth should be invisible to every one who was not worthy of his station in the world. See, your majesty, and judge for yourself. (He puts his hand into the bag and brings it forth, apparently empty, although he seems to be holding up something for the King and the courtiers to admire.) Is it not a brave and gallant robe, gentlemen?

(All look intently at the hand of the tailor. There is a long silence, in which many sly glances are cast from one to another to ascertain if it is possible that somebody else sees this thing which is invisible to him. The King looks slowly to the right and slowly to the left to scan the faces of his subjects, and then he gazes straight at the Tailor in high perplexity. Of a sudden the Leading Republican pulls himself together and speaks in an assured and certain tone.)

THE LEADING REPUBLICAN—It is a magnificent robe. It is a robe for a King. It is so fine a robe that no king should wear it but our beloved monarch, Timothy the Third.

THE LEADING DEMOCRAT (very hastily)—Oh, I say, that is nice. So shiny and bright, and good serviceable stuff, too. That would make a mighty good raincoat. (Briskly) Say, now, Mr. Tailor, how would you like to form the Wonder Cloth Limited Company? You'd be president, of course, and hold thirty-three and one-third per cent of the stock, the same amount for the King, and the rest to be divided equally among my friends of the opposition here and myself.

THE TAILOR—There will never be any more of the cloth. Only a little is left. Much has been lost. It lies in lonely places, in forests, at the bottom of the sea, in city streets. I have searched the world for this cloth, and I have found no more than I could carry in this bag, a robe for the King (he holds his hand up), this square piece you see, and this long twisted piece that might be a rope. Yes, it might be a rope, for it is stronger than hemp.

THE LEADING DEMOCRAT—That robe there, as near as I can judge, should be pretty much of a fit for his majesty. He might wear it for his regular afternoon walk through the city to-day.

THE KING—Oh, I don't think I'll take my exercise to-day. There's rather a nasty bite to the air.