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 Rh is a banker and interested in government bonds—“is this the end of it?”

“No,” said the Authority, “it’s not the end of Rumania, but it is the end of Rumanian Irridentismus.”

That settled Nelles.

“What about the Turks?” asked Rapley.

“The Turks, or rather, I suppose it would be more proper to say, the Osmanli, as that is no doubt what you mean?” Rapley nodded. “Well, speaking personally, I should say that there’s no difficulty in a permanent settlement in that quarter. If I were drawing up the terms of a treaty of peace meant to be really lasting I should lay down three absolute bases; the rest needn’t matter”—the Authority paused a moment and then proceeded to count off the three conditions of peace on his fingers—“These would be, first, the evacuation of the Sandjak; second, an international guarantee for the Capitulations; and third, for internal matters, an arrangement along the lines of the original firman of Midhat Pasha.”

A murmur of complete satisfaction went round the group.

“I don’t say,” continued the Eminent Authority, “that there wouldn’t be other minor matters to adjust; but they would be a mere detail. You ask me, for instance, for