emained, he said to Caesar:

"And you have played in Paris, too, probably."

"Yes."

"On a fall?"

"Certainly."

"You are a bandit."

"This game, my dear Ignacio, based solely on events, is not a
speculator's game, but is, simply, a hold-up. The other day I told you:
'I am at Sinigaglia.' Did you read the history of Caesar Borgia?"

"Yes."

"Well, what he did at Sinigaglia to the _condottieri_, to Vittellozzo,
Oliverotto da Fermo, and his other two captain-adventurers, I have done
to the Minister of Finance, to Don Calixto, Amparito's father, and many
others." And Caesar explained his game. Alzugaray was amazed.

"How much have you made?"

"From what these telegrams say, I think I shall go over half a million
francs. From those beginners, Don Calixto and Amparito's father, I think
I have made forty thousand pesetas."

"What an atrocious person! If the Minister should find out about your
game."

"Let him find out. I am not worried. The famous financier, in addition
to being an idiot, is an honourable rogue. He plays the market with
the object of enriching himself and leaving a fortune to his repugnant
children. I, on the other hand, play it with a patriotic object."

The matter didn't rest there: Puchol, carried away by an easily
comprehensible desire for lucre, and thinking it brought the same amount
to the famous financier whether he played through Recquillart or through
Muller, had made the last bid for the Minister through the new broker.

The Minister's winnings diminished considerably and Caesar's gained in
proportion. The illustrious financier, on learning what had happened,
shrieked to heaven; but he said nothing, because of the secret
transaction they had had together. Puchol was dismissed by Recquillart,
and with the thirty thousand francs he collected from Caesar he set up
for himself.

The Minister, a little later, went to Biarritz, to collect his share.
On his return he sent Caesar a note, unsigned and written on the
type-writer. It read:

"I did not think you had enough ability for cheating. Another time I
will be more careful."

Caesar replied in the same manner, as follows:

"When it's a question of a man who, besides being an idiot, is a poor
creature and a cheat like you, I have no scruple in robbing him first
and despising him afterwards."

Some days later Caesar published an article attacking the retiring
Minister of Finance and disclosing a lot of data and figures.

The Mi