we ourselves have a spy system that is so perfect, that they cannot hope to compete with it."
"I don't know but you are right, Mr. Carter."
"I know that I am right, sir. It is the only course that will convince them, finally."
"Then, by all means, try it."
"I shall do so, sir; and I shall begin at once."
"Then I think I may consider it as accomplished, Mr. Carter," smiled the President.
"I hope that you do not give me credit for too great talents, sir."
CHAPTER II
NICK CARTER INVITES ASSASSINATION.
"Will you need any help from Mr. Wilkie, or from the secret service, Mr. Carter?" asked the President.
"I cannot answer that question now, sir; I do not know."
"Shall I give Mr. Wilkie my instructions about it?"
"No, sir; if you please, no. If I find that I require their assistance, I will not hesitate to ask for it, and it will be accorded me personally without a moment of hesitation."
"I have no doubt of it."
"I am on very pleasant relations with the men there, and I think it is better if you keep your own personality out of the matter, entirely."
"So do I."
"I do not think you care to have me even report to you, do you, sir?"
"No; not unless you deem it necessary."
"That is not likely to be the case. However------"
"Well?"
"I should like to know that if I do wish to see you in private for a moment, that I can get to you at any time."
"Good. I will arrange it. Let me see. Oh, I have it."
"Well, Mr. President?"
"We will use the word, 'gemis,' for a countersign. It is not a word that is likely to be made use of by another. Do you understand?"
"Yes."
"You have only to send one of the attendants, or in any way you choose. I will see you at once, no matter how I am engaged."
"Thank you."
"And when you have made use of it once we will change the word to another."
"Very good, sir. Now, a few questions, if you please."
"Any that you care to ask, Mr. Carter."
"You have reason to believe that Mustushimi is now in Washington?
"Yes."
"Why do you think so?"
"I believe that I have seen him."
"And I suppose you are still spied upon?"
"Undoubtedly; all the time."
"For any specific reason?"
"No. That other one -- the one that existed when you caught Mustushimi, and I permitted him to go, has been abandoned, for the present at least. But there are other irons in their fire, although I have no definite knowledge of what they are."
"Still, from your remarks, I take it that you have made a shrewd guess."
"I have made a guess. I don't know whether it is shrewd or not."
"Will you tell me what it is?"
"I had not intended to do so."
"I am sorry for that, Mr. President."
"You see, Mr. Carter, I may be entirely in the air about it. I may be all wrong. It is a pure and simple guess; but all the same I have thought of it as a possibility."
"I wish you would tell me exactly what you mean, sir."
"Do you remember that in that other case, the spies often picked up information which was of no direct value to them, or to their employers, and that when they did so, the news was given out so that it would be made public?"
"Yes."
"That was done, in that case, for the purpose of mystifying us, and, if possible, to frighten us."
"Yes."
"Well, it has occurred to me that they have thought of another outlet for their superfluous information; one that is possibly remunerative."
"I don't think I understand you, quite."
"Just now the railroad legislation is creating considerable agitation, as you know."
"Yes."
"And the big operators are more or less frightened by what may be done to curb them. You understand all that, do you not?"
"Yes."
"Well, let us suppose a case, then."
"Yes, sir."
"Suppose that Mustushimi is working this affair, as I think he is; suppose he has decided to shield his activities behind some local employment-or the appearance of one."
"Great, Mr. President!"
"What is more natural than that he should apply to one of the big railroad men and should say to him something like this: 'I am in a position to get you all the information you require. I am in a position to tell you, beforehand, all that the government intends to try to do in regard to railroad legislation. I will give you that information for a price, and you need not pay me until the goods are delivered. Do you think that there is one of the railroads that would not jump at the opportunity?"
"No."
"Well, Mr. Carter, that is the guess I have made which I hesitated to confide in you, only because it is nothing more than a guess. But my own opinion is that the activities of Japan, through Baron Mustushimi, are as
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