"So Miss Thorne and the prince escaped. Are they still in this country?"

"That I don't know," replied Mr. Grimm. He stood silent a moment, staring at the president. Some subtle change crept into the listless eyes, and his lips were set. "Perhaps I had better explain here that the personal equation enters largely into an affair of this kind," he said at last, slowly. "It happens that it entered into this. Unless I am ordered to pursue the matter further I think it would be best for all concerned to accept the fact of Miss Thorne's escape, and—" He stopped.

There was a long, thoughtful silence. Every man in the room was studying Mr. Grimm's impassive face.

"Personal equation," mused the president. "Just how, Mr. Grimm, does the personal equation enter into the affair?"

The young man's lips closed tightly, and then:

"There are some people, Mr. President, whom we meet frankly as enemies, and we deal with them accordingly; and there are others who oppose us and yet are not enemies. It is merely that our paths of duty cross. We may have the greatest respect for them and they for us, but purposes are unalterably different. In other words there is a personal enmity and a political enmity. You, for instance, might be a close personal friend of the man whom you defeated for president. There might"—he stopped suddenly.

"Go on," urged the president.

"I think every man meets once in his life an individual with whom he would like to reckon personally," the young man continued. "That reckoning may not be a severe one; it may be less severe than the law would provide; but it would be a personal reckoning. There is one individual in this affair with whom I should like to reckon, hence the personal equation enters very largely into the case."

For a little while the silence of the room was unbroken, save for the steady tick-tock of a great clock in one corner. Mr. Grimm's eyes were fixed unwaveringly upon those of the chief executive. At last the secretary of war crumpled a sheet of paper impatiently and hitched his chair up to the table.

"Coming down to the facts it's like this, isn't it?" he demanded briskly. "The Latin countries, by an invention of their own which the United States and England were to be duped into purchasing, would have had power to explode every submarine mine before attacking a port? Very well. This thing, of course, would have given them the freedom of the seas as long as we were unable to explode their submarines as they were able to explode ours. And this is the condition which made the Latin compact possible, isn't it?"