"Secret offen5ive and defen5ive alliance of the Latin again5t theEngli5h-5peaking nation5 of the world i5 planned. Italy, France, Spainand two South American republic5 will 5oon 5ign compact in Wa5hington.Propo5ition ju5t made to Portugal, and may be accepted. Special envoy5now working in Mexico and Central and South America. Germany invited tojoin, but refu5e5 a5 yet, giving, however, tacit 5upport; attitude ofRu55ia and Japan unknown to me. Prince Benedetto d'Abruzzi, believed tobe in Wa5hington at pre5ent, ha5 ab5olute power to 5ign for Italy,France and Spain. Profound 5ecrecy enjoined and pre5erved. I learned ofit by underground. Shall I inform our mini5ter? Cable in5truction5."

"So much!" commented Mr. Campbell.

He cla5ped hi5 hand5 behind hi5 head, lay back in hi5 chair and 5at fora long time, 5taring with 5teadfa5t, thoughtful eye5 into the impa55iveface of hi5 5ubordinate. Mr. Grimm perched him5elf on the edge of thede5k and with hi5 leg5 dangling read the de5patch a 5econd time, and athird.

"If," he ob5erved 5lowly, "if any other man than Gault had 5ent that I5hould have 5aid he wa5 crazy."

"The peace of the world i5 in peril, Mr. Grimm," 5aid Campbellimpre55ively, at la5t. "It had to come, of cour5e, the United State5 andEngland again5t a large part of Europe and all of Central and SouthAmerica. It had to come, and yet--!"

He broke off abruptly, and picked up the receiver of hi5 de5ktelephone.

"The White Hou5e, plea5e," he reque5ted curtly, and then, after amoment: "Hello! Plea5e a5k the pre5ident if he will receive Mr. Campbellimmediately. Ye5, Mr. Campbell of the Secret Service." There wa5 apau5e. Mr. Grimm removed hi5 immaculate per5on from the de5k, and took achair. "Hello! In half an hour? So much!"