"What stipulations do you lay down?" he asked.

"One only," answered Dacres. "That I am not called upon to assist in committing any acts prejudicial to the interests of King and country."

"That I can safely agree to. But before I give you any details as to the nature of my masterpiece I ought to explain the reasons why I have undertaken a definite mission."

"Quite so," assented Dacres.

"You are not too tired? Would you rather turn in?"

"Not in the least. Fire away; I am all attention."

"You've heard, of course, of Valderia?" began Whittinghame abruptly.

"Yes, that rotten tin-pot South American republic that owes its very existence to the jealousy between Chili and Peru."

"That's the average Englishman's idea of Valderia. You can take it from me that that republic is greatly under-rated. The inhabitants, of course, are of the usual South American type: the better class are Creoles and the lower class are a mixture of Spanish, Negro, and Indian blood. You may remember President Santobar? He was assassinated about two years ago—in March, 1917, to be correct. He was a most able ruler as far as order and progress went. Under his presidency Valderia became prosperous. Gold was found there, and also, although not generally known, platinum. That pair of horns, for example, is overlaid with thin platinum from the San Bonetta mines. At current London prices that metal is worth at least eight thousand pounds.

"My brother Gerald had a mining concession at San Bonetta, which is less than thirty miles from the capital, Naocuanha. He was held in great esteem by President Santobar, who often asked his advice on matters concerning internal transport.