A beautiful day, quite warm; and, taking his umbrella as an assurance against change, he set out for the station.

In the carriage going up they were talking about the Ruhr. Averse from discussion in public, Soames listened from behind his paper. The general sentiment was surprisingly like his own. In so far as it was unpleasant for the Huns—all right; in so far as it was unpleasant for British trade—all wrong; in so far as love of British trade was active and hate of Huns now passive—more wrong than right. A Francophil remark that the French were justified in making themselves safe at all costs, was coldly received. At Maidenhead a man got in whom Soames connected automatically with disturbance. He had much grey hair, a sanguine face, lively eyes, twisting eyebrows, and within five minutes had asked in a breezy voice whether anyone had heard of the League of Nations. Confirmed in his estimate, Soames looked round the corner of his paper. Yes, that chap would get off on some hobby-horse or other! And there he went! The question—said the newcomer—was not whether the Germans should get one in the eye, the British one in the pocket, or the French one in the heart, but whether the world should get peace and goodwill. Soames lowered his paper. If—this fellow said—they wanted peace, they must sink their individual interests, and think in terms of collective interest. The good of all was the good of one! Soames saw the flaw at once. That might be, but the good of one was not the good of all. He felt that if he did not take care he would be pointing this out. The man was a perfect stranger to him, and no good ever came of argument. Unfortunately his silence amid the general opinion that the League of Nations was ‘no earthly,’ seemed to cause the newcomer to regard him as a sympathiser; the fellow kept on throwing his eyebrows at him! To put up his paper again seemed too pointed, and his position was getting more and more false when the train ran in at Paddington. He hastened to a cab. A voice behind him said:

“Hopeless lot, sir, eh! Glad to see YOU saw my point.”

“Quite!” said Soames. “Taxi!”

“Unless the League of Nations functions, we’re all for Gehenna.”

Soames turned the handle of the cab door.

“Quite!” he said again. “Poultry!” and got in. He was not going to be drawn. The fellow was clearly a firebrand!

In the cab the measure of his disturbance was revealed. He had said ‘Poultry,’ an address that ‘Forsyte, Bustard and Forsyte’ had abandoned two-and-twenty years ago when, merged with ‘Cuthcott, Holliday and Kingson,’ they became ‘Cuthcott, Kingson and Forsyte.’ Rectifying the error, he sat forward, brooding. Fall of the mark! The country was sound about it, yes—but when they failed to pay the next dividend, could they rely on resentment against the French instead of against the directors? Doubtful! The directors ought to have seen it coming! That might be said of the other directors, but not of himself—here was a policy that he personally never would have touched. If only he could discuss the whole thing with some one—but old Gradman would be out of his depth in a matter of this sort. And, on arrival at his office, he gazed with a certain impatience at that changeless old fellow, sitting in his swivel chair.

“Ah! Mr. Soames, I was hopin’ you might come in this morning. There’s a young man been round to see you from the P. P. R. S. Wouldn’t give his business, said he wanted to see you privately. Left his number on the ‘phone.”

“Oh!” said Soames.

“Quite a young feller—in the office.”

“What did he look like?”

“Nice, clean young man. I was quite favourably impressed—name of Butterfield.”

“Well, ring him up, and let him know I’m here.” And going over to the window, he stood looking out on to a perfectly blank wall.

Suited to a sleeping partner, his room was at the back, free from disturbance. Young man! The call was somewhat singular! And he said over his shoulder: “Don’t go when he comes, Gradman, I know nothing of him.”

The world changed, people died off, the mark fell, but Gradman was there—embodiment, faithful and grey, of service and integrity—an anchor.

Gradman’s voice, grating, ingratiating, rose.

“This French news—it’s not nice, Mr. Soames. They’re a hasty lot. I remember your father, Mr. James, coming into the office the morning the Franco–Prussian war was declared—quite in his prime then, hardly more than sixty, I should say. Why, I recall his very words: ‘There,’ he said, ‘I told them so.’ And here they are—at it still. The fact is, they’re cat and dog.”

Soames, who had half turned, resumed his contemplation of a void. Poor old Gradman dated! What would he say when he heard that they had been insuring foreign business? Stimulated by the old-time quality of Gradman’s presence, his mind ranged with sudden freedom. He himself had another twenty years, perhaps. What would he see in that time? Where would old England be at the end of it? ‘In spite of the papers, we’re not such fools as we look,’ he thought. ‘If only we can steer clear of flibberty-gibberting, and pay our way!’

“Mr. Butterfield, sir.” H’m! The young man had been very spry. Covered by Gradman’s bluff and greasy greeting, he “took a lunar,” as his Uncle Roger used to call it. The young fellow, in a neat suit, a turndown collar, with his hat in his hand, was a medium modest-looking chap. Soames nodded.

“You want to see me?”

“Alone, if I might, sir.”

“Mr. Gradman here is my right-hand man.”

Gradman’s voice purred gratingly: “You can state your business. Nothing goes outside these walls, young man.”

“I’m in the office of the P.P.R.S., sir. The fact is, accident has just put some information in my hands, and I’m not easy in my mind. Knowing you to be a solicitor, sir, I preferred to come to you, rather than go to the chairman. As a lawyer, would you tell me: Is my first duty to the Society, being in their employ?”

“Certainly,” said Soames.

“I don’t like this job, sir, and I hope you’ll understand that I’m not here for any personal motive—it’s just because I feel I ought to.”

Soames regarded him steadily. Though large and rather swimming, the young man’s eyes impressed him by their resemblance to a dog’s. “What’s it all about?” he said.

The young man moistened his lips.

“The insurance of our German business, sir.”

Soames pricked his ears, already slightly pointed by Nature.

“It’s a very serious matter,” the young man went on, “and I don’t know how it’ll affect me, but the fact is, this morning I overheard a private conversation.”

“Oh!” said Soames.

“Yes, sir. I quite understand your tone, but the very first words did it. I simply couldn’t make myself known after hearing them. I think you’ll agree, sir.”

“Who were the speakers?”

“The manager, and a man called Smith—I fancy by his accent his name’s a bit more foreign—who’s done most of the agenting for the German business.”

“What were the words?” said Soames.

“Well, sir, the manager was speaking, and then this Smith said: ‘Quite so, Mr. Elderson, but we haven’t paid you a commission on all this business for nothing; if the mark goes absolutely phut, you will have to see that your Society makes it good for us!’”

The intense longing, which at that moment came on Soames to emit a whistle, was checked by sight of Gradman’s face. The old fellow’s mouth had opened in the nest of his grizzly short beard; his eyes stared puglike, he uttered a prolonged: “A-ow!”

“Yes,” said the young man, “it was a knock-out!”

“Where were you?” asked Soames, sharply.

“In the lobby between the manager’s room and the board room. I’d just come from sorting some papers in the boardroom, and the manager’s door was open an inch or so. Of course I know the voices well.”

“What after?”

“I heard Mr. Elderson say, ‘H’ssh! Don’t talk like that!’ and I slipped back into the board room. I’d had more than enough, sir, I assure you.”