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When the deft and dapper Caillaux crossed the ocean to settle for France, his business-like demeanor promised success. With the reign of common sense here prevailing, it almost seemed as if France's Phoenix were feigning America's go-get-it-iveness the better to suit its sovereign power. But after each side had laid a corner-stone, one at the North Pole and the other at the South, the structure collapsed at the Equator and floated blithely away to the Gold Coast.

It was then that Mrs. O'Leary's cow abdicated. For rumor has whispered to the London Chronicle that the President booted the lantern. He said to the smiling Phoenix. "And how is my friend Clemenceau?" The Phoenix blanched, almost returned to ashes, remembering how the Tiger had quenched him in the exile from which he has lately risen.

Such is the evil of volubility. For offended fairies wave their wands only to vanish. To the motto, "silence is golden", there might well be added "Speak not until you are spoken to" Speechlessness is still a Sphinx's greatest asset.

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