"Then did we ever know who Mr. Aram Balencourt really was? An agent of the 'Forty'? Well, perhaps so, but I can't help thinking that there was always a bigger man behind him. The same conclusion would apply to the case of that poor wretch Grenelli in the affair of the Russia and the box of dynamite. Some one with brains pulled the strings to make all these marionettes dance. "Finally, there was your own adventure with the amiable Dr. Gonzales. Did he ever remind you, even indefinitely, of some one else whom you had known? Think carefully. Well, it doesn't matter. I was deceived myself, and when I afterwards went to the Bellevue insane pavilion to make some inquiries I found that he had long since been discharged as cured. "There was just one hypothesis--the existence somewhere of a strong and alert personality; a genius along mechanical and scientific lines; a creature of abnormally developed mentality and correspondingly defective ethical nature; an intelligence absolutely passionless and ruthless, playing the game entirely for its own sake, and equally indifferent to the end and to the means used to attain it--in other words, a monster. Quite an elaborate theory, you observe; but the difficulty was to fit it to the individual. Looking back on the problem, I accuse myself of being rather slow-witted. Right under my eyes and yet only an accident opened them. "Well, you recall the night at the Utinam when we met Mr. Chivers and I accepted his very liberal proposition to become an adjuster of averages. Of course, it was a trap, but what connoisseur of the adventure grotesque could refuse such a bait? All I wanted to know was with whom I was expected to match wits. "Of course, the thousand-dollar bills were counterfeits--stage money? Not at all; every one was as good as the gold it called for at the sub-treasury. Bribery? From whom and for what? Doubtless I should know later. As it happened, I found out a little ahead of time. "You remember the incident of the honest cabman and the hieroglyphic letter which he turned over to me? Here it is, addressed, as you observe, to Mr. Chivers." Indiman drew from a locked drawer in the big centre-table the long strip of bluish paper covered with its incomprehensible dashes. "One of the oldest of devices for secret writing," he remarked. "This slip of paper was originally wrapped about a cylinder of a certain diameter and the message traced upon it, and it can only be deciphered by rerolling it upon another cylinder of the same diameter. Easy enough to find the right one by the empiric method--I mean experiment. Once you recognize the fundamental character of the cryptogram the rest follows with ridiculous certainty. Behold!" Indiman took a long, round, slender stick from the mantel-piece and proceeded to wrap the ribbon of bluish paper about it, touching both ends with paste to keep the slip in place. It read in part: