I burst out laughing. “Delightful, munificent Sir Gregory! It's a charming idea.”

“So Miss Anvoy thinks.”

“Has she a candidate for the Fund?”

“Not that I know of; and she's perfectly reasonable about it. But Lady Coxon has put the matter before her, and we've naturally had a lot of talk.”

“Talk that, as you've so interestingly intimated, has landed you in a disagreement.”

“She considers there's something in it,” Gravener said.

“And you consider there's nothing?”

“It seems to me a puerility fraught with consequences inevitably grotesque and possibly immoral. To begin with, fancy the idea of constituting an endowment without establishing a tribunal—a bench of competent people, of judges.”

“The sole tribunal is Lady Coxon?”

“And any one she chooses to invite.”