This money, with a part of the funds which my solicitor had sent me, amounted to two millions of francs. With this sum I went to a well-known and trustworthy stockbroker, and instructed him to speculate with the whole amount in French Government bonds for a fall.

"Do you intend to throw this money in the gutter?" said the man, eyeing me critically.

"That is my own business, I presume," said I, calmly.

"Have you ever speculated on the Exchange before? Are you versed in these manipulations?"

"No! Never!"

"Do you know the situation of the Money Market at present?"

"No."

"Then grant me leave to inform you by giving you a few data. All French securities are rising in value. Paris is enthusiastic for the war. The money-chests of the financial ring are open to the Government. The French military force is fully equipped, ready to begin hostilities, and stationed at the Rhone, whereas the Prussians are caught unprepared. Bavaria will remain neutral, and the Danes are preparing to break into Schleswig-Holstein. The sequel of the war can be foretold with such certainty that a Paris financier offers, to any one who will accept it, a wager of two hundred thousand francs against one hundred thousand that on August 15 the French will march into Berlin."

"Well, you may take up that wager, also, for me."

The agent shrugged his shoulders, and accepted my offer for a bear speculation. We agreed that from time to time we should communicate with each other in cipher. Telegrams were to be forwarded through H——'s Bank.