"It doesn't apply to National Insurance payments," said William brightly, "if that's any help to you."

"It only goes on till the 4th of September," I reminded him, "and the bank rate was recently as high as ten per cent. and may easily go up again. You've got to pay interest on it, you know."

That was where I had him. "How will you take it?" he asked, thrusting a hand into his pocket.

"In new pound notes," said I.


DIES IRAE.

To the German Kaiser.

Amazing Monarch! who at various times,

Posing as Europe's self-appointed saviour,