Verlac, a double agent operating within a London anarchist cell, faces catastrophic consequences when a state-sanctioned plot to bomb the Greenwich Observatory fails. Tasked by his Russian handlers to provoke a crackdown on radical groups, Verlac navigates a web of deceit that threatens his domestic stability and his own survival. The narrative employs a detached, ironic perspective to examine the intersection of political extremism, bureaucratic indifference, and personal betrayal. Set against the backdrop of late 19th-century London, the story unfolds through a non-linear structure that emphasizes the absurdity of the characters' motivations and the inevitable collapse of their schemes.

Readers and critics frequently highlight the novel's biting irony and its cynical portrayal of political movements. Discussion often centers on the psychological depth of the characters, particularly how their mundane lives intersect with high-stakes espionage. Many observers note the effectiveness of the atmospheric setting, which transforms London into a character that mirrors the moral decay of the plot. The pacing is often described as deliberate, favoring character development and thematic exploration over rapid action sequences. Ultimately, the work is recognized for its enduring relevance in its critique of the mechanisms of power and the human cost of ideological conflict.