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Pritchard came in and said: “Mr. Winston Churchill.”

Churchill was forty, exactly ten years younger than Walden. He was a short, slender man who dressed in a way Walden thought was a shade too elegant to be quite gentlemanly. His hair was receding rapidly, leaving a peak at the forehead and two curls at the temples which, together with his short nose and the permanent sardonic twinkle in his eye, gave him a mischievous look. It was easy to see why the cartoonists regularly portrayed him as a malign cherub.

Churchill shook hands and said cheerfully: “Good afternoon, Lord Walden.” He bowed to Lydia. “Lady Walden, how do you do?”

Walden thought: What is it about him that grates so on my nerves?

Lydia offered him tea and Walden told him to sit down. Walden would not make small talk: he was impatient to know what all the fuss was about.

Churchill began: “First of all my apologies, together with the King’s, for imposing myself on you.”

Walden nodded. He was not going to say it was perfectly all right.

Churchill said: “I might add that I should not have done so, other than for the most compelling reasons.”

“You’d better tell me what they are.”

“Do you know what has been happening in the money market?”

“Yes. The discount rate has gone up.”

“From one and three quarters to just under three percent. It’s an enormous rise, and it has come about in a few weeks.”

“I presume you know why.”

Churchill nodded. “German companies have been factoring debts on a vast scale, collecting cash and buying gold. A few more weeks of this and Germany will have got in everything owing to her from other countries, while leaving her debts to them outstanding-and her gold reserves will be higher than they have ever been before.”

“They are preparing for war.”

“In this and other ways. They have raised a levy of one billion marks, over and above normal taxation, to improve an army that is already the strongest in Europe. You will remember that in 1909, when Lloyd George increased British taxation by fifteen million pounds sterling, there was almost a revolution. Well, a billion marks is equivalent to fifty million pounds. It’s the biggest levy in European history-”

“Yes, indeed,” Walden interrupted. Churchill was threatening to become histrionic: Walden did not want him making speeches. “We Conservatives have been worried about German militarism for some time. Now, at the eleventh hour, you’re telling me that we were right.”

Churchill was unperturbed. “ Germany will attack France, almost certainly. The question is, will we come to the aid of France?”

“No,” Walden said in surprise. “The Foreign Secretary has assured us that we have no obligations to France -”

“Sir Edward is sincere, of course,” Churchill said. “But he is mistaken. Our understanding with France is such that we could not possibly stand aside and watch her be defeated by Germany.”

Walden was shocked. The Liberals had convinced everyone, him included, that they would not lead England into war; and now one of their leading ministers was saying the opposite. The duplicity of the politicians was infuriating, but Walden forgot that as he began to contemplate the consequences of war. He thought of the young men he knew who would have to fight: the patient gardeners in his park, the cheeky footmen, the brown-faced farm boys, the hell-raising undergraduates, the languid idlers in the clubs of St. James’s… Then that thought was overtaken by another, much more chilling, and he said: “But can we win?”

Churchill looked grave. “I think not.”

Walden stared at him. “Dear God, what have you people done?”

Churchill became defensive. “Our policy has been to avoid war, and you can’t do that and arm yourself to the teeth at the same time.”

“But you have failed to avoid war.”

“We’re still trying.”

“But you think you will fail.”

Churchill looked belligerent for a moment, then swallowed his pride. “Yes.”

“So what will happen?”

“If England and France together cannot defeat Germany, then we must have another ally, a third country on our side: Russia. If Germany is divided, fighting on two fronts, we can win. The Russian army is incompetent and corrupt, of course-like everything else in that country-but it doesn’t matter so long as they draw off part of Germany ’s strength.”

Churchill knew perfectly well that Lydia was Russian, and it was characteristically tactless of him to disparage her country in her presence, but Walden let it pass, for he was highly intrigued by what Churchill was saying. “ Russia already has an alliance with France,” he said.

“It’s not enough,” Churchill said. “ Russia is obliged to fight if France is the victim of aggression. It is left to Russia to decide whether France is the victim or the aggressor in a particular case. When war breaks out, both sides always claim to be the victim. Therefore the alliance obliges Russia to do no more than fight if she wants to. We need Russia to be freshly and firmly committed to our side.”

“I can’t imagine you chaps joining hands with the Czar.”

“Then you misjudge us. To save England, we’ll deal with the devil.”

“Your supporters won’t like it.”

“They won’t know.”

Walden could see where all this was leading, and the prospect was exciting. “What have you in mind? A secret treaty? Or an unwritten understanding?”

“Both.”

Walden looked at Churchill through narrowed eyes. This young demagogue might have a brain, he thought, and that brain might not be working in my interest. So the Liberals want to do a secret deal with the Czar, despite the hatred which the English people have for the brutal Russian regime-but why tell me? They want to rope me in somehow, that much is clear. For what purpose? So that if it all goes wrong they will have a Conservative on whom to put the blame? It will take a plotter more subtle than Churchill to lead me into such a trap.

Walden said: “Go on.”

“I have initiated naval talks with the Russians, along the lines of our military talks with the French. They’ve been going on for a while at a rather low level, and now they are about to get serious. A young Russian admiral is coming to London. His name is Prince Aleksey Andreyevich Orlov.”

Lydia said: “Aleks!”

Churchill looked at her. “I believe he is related to you, Lady Walden.”

“Yes,” Lydia said, and for some reason Walden could not even guess at, she looked uneasy. “He is the son of my elder sister, which makes him my… cousin?”

“Nephew,” Walden said.

“I didn’t know he had become an admiral,” Lydia added. “It must be a recent promotion.” She was her usual, perfectly composed self, and Walden decided he had imagined that moment of unease. He was pleased that Aleks would be coming to London: he was very fond of the lad. Lydia said: “He is young to have so much authority.”

“He’s thirty,” Churchill said to Lydia, and Walden recalled that Churchill, at forty, was very young to be in charge of the entire Royal Navy. Churchill’s expression seemed to say: The world belongs to brilliant young men like me and Orlov.

But you need me for something, Walden thought.

“In addition,” Churchill went on, “Orlov is nephew to the Czar, through his father, the late Prince, and-more importantly-he is one of the few people other than Rasputin whom the Czar likes and trusts. If anyone in the Russian naval establishment can swing the Czar on to our side, Orlov can.”

Walden asked the question that was on his mind. “And my part in all this?”

“I want you to represent England in these talks-and I want you to bring me Russia on a plate.”

The fellow could never resist the temptation to be melodramatic, Walden thought. “You want Aleks and me to negotiate an Anglo-Russian military alliance?”

“Yes.”

Walden saw immediately how difficult, challenging and rewarding the task would be. He concealed his excitement and resisted the temptation to get up and pace about.