At those words of his the men interrogating him laughed in derision, declaring it to be a very elegant excuse.

"It is no excuse!" he cried fiercely, again rising from his chair. "When I have obtained permission to speak, messieurs, I will tell you the truth. Until then I shall remain silent."

"Eh, bien!" snapped Bézard. "And so we will pass to the next and final charge—that you prepared a statement in order to satisfy yourself regarding the profits of your dealings in these spurious notes."

"I have no knowledge of such a thing!" Paul replied instantly.

"And yet for several weeks past a mysterious friend of yours has been seen in the neighbourhood of your château. He has been staying in Commercy and in Longuyon. I gave orders for his arrest, but, with his usual cleverness, he escaped from Commercy."

"I prepared no statement."

"H'm!" grunted Bézard, looking straight into his flushed face. "You are quite certain of that?"

"I swear I did not."

"Then perhaps you will deny that this is in your hand?" the director asked slowly, with a grin, as he fixed his eyes upon Paul and handed him a sheet of his own note-paper bearing the address of the château embossed in green.

Paul took it in his trembling fingers, and as he did so his countenance fell.