William coughed and drew a painful breath.

“What does my uncle desire of the States?” he asked quietly.

“I have the heads of His Majesty’s demands in my mind, Highness,” answered Arlington. “Firstly, the right of the flag, and a yearly rent for the herring fisheries, £100,000 a year or less; secondly, the expenses of the war, fixed at £500,000, to be paid in next October; thirdly, three or four towns as hostages—Flushing, Sluys, the Brill, or such.”

“The States will never agree to those terms, nor could I in conscience advise them to,” answered William firmly.

Arlington was suave.

“They might be moderated——”

Buckingham interrupted—

“Why, by God?… Is France to get all and England nothing?”

The Prince bit his lip with the effort to keep back a violent answer.