"For that," he declared, "we may be thankful to those responsible for the destruction of militarism. Industrial triumphs were never possible under its shadow. An era of prosperity will also be an era of peace." "For how long, I wonder?" the Princess whispered "Human nature has shown remarkably little change through all the ages. Don't you think that some day soon one person will have what another covets, and the world will rock again to the clash of arms?" "We are all selfish," Josephine murmured. "Life closes in around us, and we are mostly concerned with what may happen in our own time. I think that for as long as we live, peace is assured." "I am sure I hope so," Sarah declared. "I should hate Jimmy to have to go and fight again." "What sort of a husband does he make?" Wingate enquired. "Wonderful!" Sarah acknowledged with emphasis. "He has developed gifts of which I had not the slightest apprehension. Of course, Josephine would scratch me if I ventured upon such a thing as comparison,-so I'll be content with saying that I think we are both very happy women." Josephine laughed gaily. The almost peachlike bloom of girlhood had come back to her cheeks. She wore a rope of pearls, her husband's wedding gift, which had belonged to an Empress, and her white gown was the _chef d'oeuvre_ of a great French artiste's most wonderful season. She looked across the table. How was it, she wondered, with a little glad thrill, that the eyes for which she sought seemed always waiting for hers. "We are very lucky women," she said simply. Phipps bit the end off his cigar a little savagely. He had been casting longing glances towards the table in the centre of the room, with its brilliant company. "So that is the end of my duel with Wingate," he muttered. "I wonder whether it would be worth while." "Whether what would be worth while?" his nephew asked. Phipps made no direct reply. He rose instead to his feet. "I am going back to my room at the hotel for a moment, Stanley, to fetch something," he confided. "Order some more of the Napoleon brandy. I shall perhaps need it when I come back." The young man nodded, and Peter Phipps started on his way to the door. He had to pass the table at which Wingate was presiding, and it chanced that Josephine, looking up, met his eyes. There was a moment's hesitation in her mind. Women are always merciful when happy. Josephine was very happy, and Peter Phipps showed signs in his bearing and in the lines upon his face that he was not the man of six months ago. She smiled very slightly and bowed, a greeting which Phipps returned with a smile which was almost of gratitude. The Cabinet Minister, who had met Phipps and remembered little of his history, followed Josephine's lead; also the American, who had known him in New York. Phipps was holding his head a little higher as he went out. In ten minutes he returned. He carried a small packet in his hand, which he laid down before his nephew. "Try one," he invited.