“What can be the aim of this fellow Impey?” Captain Rodgers said quietly after he had admonished the lads in his severe stern official voice. “Who will benefit by a war between us and Japan?” Captain Rodgers sat silent, thinking deeply while the midshipmen, assisted by the grateful Sago, finished their toilet. “There’s a European country mixed up in this somewhere,” he said half to himself. “That country has a railroad in Manchuria, and is building a new road toward the valuable mining districts of Shensi Province in China.” Phil and Sydney had stopped in their dressing, and were listening eagerly. “When the Chinese prince was in America, our bankers closed a loan to the Chinese government of many millions of dollars; for this an American syndicate received a concession from Peking to build a railroad from Amay through Shensi Province. This road will be an outlet for the richest coal, iron, copper and silver mines in China.” Captain Rodgers again stopped and tapped the floor with his foot, a favorite habit when he was thinking deeply. “A war between the United States and Japan, if Japan were victorious on the sea, would make void this concession. This European country is building without a concession from China, in violation of China’s right to say who shall exploit her resources. Japan victorious, America could not build the railroad; the vast riches of Shensi Province would pass over the railroad of this European country.” “What country?” Phil asked, unable to control his curiosity longer. Captain Rodgers smiled knowingly and shrugged his epauletted shoulders. “If the United States were victorious,” he continued, without answering Phil’s question, “then there would be another part of China which Japan would be forced to evacuate, and this European country would be equally well off. Yes,” the captain added, as though convinced, “that must be the correct diagnosis.” The midshipmen had drunk in every word of their captain’s able summing up, and now gazed at him eager to hear more. “Then who is Impey?” they asked almost in a breath. “He must be that country’s agent,” Captain Rodgers replied quickly, “and probably agent also for the shipbuilding firms who built the Chinese navy and are now wondering where they will get their money, for China is in the throes of internal strife. If these ships are bought by Japan or the United States a very fancy figure would of necessity be paid. “Sago,” Captain Rodgers added, and the steward bowed low in answer, “remember the United States wishes to be Japan’s friend. Her interests and Japan’s are not really in conflict. It is these interested third parties who are forcing us to be unfriendly and maybe to fight.” Sago bowed again and drew in his breath sharply in sign of agreement. “Will you tell me just what was in that letter?” the captain asked.