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yet," he said, "I embody in my person one of those signs. You can hardly deny that, Sir Harris. Certainly I would never have had, shall I call it the distinction, of being admitted to this club had it not been for the democratic leaven working through the war. You remember, of course? An officer and a gentleman! We of England were certainly consistent in that respect. While one was an officer one was a gentleman. The clubs were all pretty generally thrown open to officers during the war. Some of them came from the Lord knows where. T.G.'s they were called, you remember—Temporary Gentlemen. Afterward—but of course that's another story so far as most of them were concerned. Take my own case. I enlisted in the ranks, and toward the latter end of the war I obtained my commission—I became a T.G. And as such I enjoyed the privileges of this club. I was eventually, however, one of the fortunate ones. At the close of the war the club took me on its permanent strength and, ergo, I became a—Permanent Gentleman. Democracy! Private Francis Newcombe—Captain Francis Newcombe—Francis Newcombe, Esquire."

      "A rather thin case!" smiled the baronet. "What I was about to say when you interrupted me was that, so far as I can see, all that the world has been made safe for by the war is the active expression of the predatory instinct in man. I refer to the big interests, the trusts; to the radical outcroppings of certain labour elements; to—yes!"—he tapped the newspaper that lay on the table beside him—"the Simon-pure criminal such as this mysterious gang of desperadoes that has London at its wits' ends, and those of us who have anything to lose in a state of constant apoplexy."

      Captain Francis Newcombe shook his head.

      "I think you're wrong, sir," he said judicially. "It isn't the aftermath of the war, or the result of the war. It is the war, of which the recent struggle was only a phase. It's been going on since the days of the cave man. You've only to reduce the nation to the terms of the individual, and you have it. A nation lusts after something which does not belong to it. It proceeds to take it by force. If it fails it is punished. That is war. The criminal lusts after something. He flings down his challenge. If he is caught he is punished. That is war. What is the difference?"

      The baronet sipped at his Scotch and soda.

      "H'm! Which brings us?" he suggested.

      "Nowhere!" said Captain Francis Newcombe promptly. "It's been going on for ages; it'll go on for all time. Always the individual predatory; inevitably in cycles, the cumulative individual running amuck as a nation. Why, you, sir, yourself, a little while ago when somebody here in the room made a remark to the effect that he believed this particular series of crimes was directly attributable to the war because it would seem that some one of ourselves, some one who has the entrée everywhere, who, through being contaminated by the filth out there, had lost poise and was probably the guilty one, meaning, I take it, that the chap finding himself in a hole wasn't so nice or particular in his choice of the way out of it as he would have been but for the war—you, Sir Harris, denied this quite emphatically. It—er—wouldn't you say, rather bears me out?"

      The old baronet smiled grimly.

      "Quite possibly!" he said. "But if so, I must confess that my conclusion was based on a very different premise from yours. In fact, for the moment, I was denying the theory that the criminal in question was one of ourselves, quite apart from any bearing the war might have had upon the matter."

      The ex-captain of territorials selected a cigarette with care from his case.

      "Yes?" he inquired politely.

      The old baronet cleared his throat. He glanced a little whimsically at his companion.

      "It's been a hobby, of course, purely a hobby; but in an amateurish sort of way as a criminologist I have spent a great deal of time and money in—"

      "By Jove! Really!" exclaimed Captain Newcombe. "I didn't know, Sir Harris, that you—" He paused suddenly in confusion. "That's anything but a compliment to your reputation though, I'm afraid, isn't it? A bit raw of me! I—I'm sorry, sir."

      "Not at all!" said the old baronet pleasantly; and then, with a wry smile: "You need not feel badly. In certain quarters much more intimate with the subject than you could be supposed to be, I am equally unrecognised."

      "It's very good of you to let me down so easily," said the ex-captain of territorials contritely. "Will you go on, sir? You were saying that you did not believe these crimes were being perpetrated by one in the same sphere of life as those who were being victimised. Why is that, sir? The theory seemed rather logical."

      "Because," said the old baronet quietly, "I believe I know the man who is guilty."

      The ex-captain of territorials stared.

      "Good Lord, sir!" he gasped out. "You—you can't mean that?"

      "Just that!" A grim brusqueness had crept into the old baronet's voice. "And one of these days I propose to prove it!"

      "But, sir"—the ex-captain of territorials in his amazement was still apparently groping out for his bearings—"in that case, the authorities—surely you—"

      "They were very polite at Scotland Yard—very!" The old baronet smiled drily again. "That was the quarter to which I referred. Socially and criminologically—if I may be permitted the word—I fear that the Yard regards me from widely divergent angles. But damme, sir"—he became suddenly irascible—"they're too self-sufficient! I am a doddering and interfering old idiot! But nevertheless I am firmly convinced that I am right, and they haven't heard the end of the matter—if I have to devote every penny I've got to substantiating my theory and bringing the guilty man to justice!"

      Captain Francis Newcombe coughed in an embarrassed way.

      The old baronet reached for his tumbler, and drank generously. It appeared to soothe his feelings.

      "Tut, tut!" he said self-chidingly. "I mean every word of that—that is, as to my determination to pursue my own investigations to the end; but perhaps I have not been wholly fair to the Yard. So far, I lack proof; I have only theory. And the Yard too has its theory. It is a very common disease. The theory of the Yard is that the man I believe to be guilty of these crimes of to-day died somewhere around the middle stages of the war."

      "By Jove!" Captain Francis Newcombe leaned sharply forward on the arms of his chair. "You don't say!"

      The old baronet wrinkled his brows, and was silent for a moment.

      "It's quite extraordinary!" he said at last, with a puzzled smile. "I can't for the life of me understand how I got on this subject, for I think we were discussing democracy—but you appear to be interested."

      "That is expressing it mildly," said the ex-captain of territorials earnestly. "You can't in common decency refuse me the rest of the story now, Sir Harris."

      "There is no reason that I know of why I should," said the old baronet. "Did you ever hear of a man called Shadow Varne?"

      Captain Francis Newcombe shook his head.

      "No," he said.

      "Possibly, then," said the old baronet, "you may remember the robbery at Lord Seeton's place? It was during the war."

      "No," said the other thoughtfully. "I can't say I do. I don't think I ever heard of it."

      "Well, perhaps you wouldn't," nodded the old baronet. "It happened at a time when, from what you've said, I would imagine you were in the ranks, and—however, it doesn't matter. The point is that the robbery at Lord Seeton's is amazingly like, I could almost say, each and every one of this series of robberies that is taking place to-day. The same exact foreknowledge, the hidden wall safe, or hiding place, or repository, or whatever it might be, that was supposedly known only to the family; the utter absence of any clue; the complete disappearance of—shall we call it?—the loot itself. There is only one difference. In the case of Lord Seeton, the jewels—it was principally a jewel robbery—were eventually recovered. They were found in Paris in the possession of Shadow Varne. But"—the old baronet smiled a little grimly again—"the police were not to blame for that."

      Sir

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