"I venture to intrude on your Excellency, in consequence of a
letter from my directors. They inform me that, to use their words,
'disquieting rumors' are afloat on the exchanges in regard to the
Aureataland loan, and they direct me to submit to your Excellency the
expediency of giving some public notification relative to the payment
of the interest falling due next month. It appears from their
communication that it is apprehended that some difficulty may occur in
the matter."

"Would not this application, if necessary at all, have been, more
properly made to the Ministry of Finance in the first instance?" said
the President. "These details hardly fall within my province."

"I can only follow my instructions, your Excellency," I replied.

"Have you any objection, Mr. Martin," said the President, "to allowing
myself and my advisers to see this letter?"

"I am empowered to submit it only to your Excellency's own eye."

"Oh, only to my eye," said he, with an amused expression. "That was
why the interview was to be private?"

"Exactly, sir," I replied. "I intend no disrespect to the Minister of
Finance or to your secretary, sir, but I am bound by my orders."

"You are an exemplary servant, Mr. Martin. But I don't think I need
trouble you about it further. Is it a cable?"

He smiled so wickedly at this question that I saw he had penetrated my