The Whiskey Rebel

“Not that I’ve seen,” said Burr.

I glanced at Leonidas. He said, “Good.”

N ot long after that, Mr. Burr excused himself. Leonidas and I entertained a few more speculators in search of good claret and dropped a few more hints about the Million Bank, but I kept my eye on the froggy Mr. Freneau. At near eight o’clock, he left the Merchants’, and Leonidas and I followed him. There could be no guarantee that his path would provide an opportunity for us, but as it turned out, the streets were quiet and poorly lit, and it was no difficult task to find our moment.

We approached him quietly from behind, and Leonidas turned his shoulder outward and slammed hard into Mr. Freneau’s back. Leonidas then stepped back-men are more indignant if they know they are knocked down by a Negro-and I moved forward to take his place. “I do beg your pardon,” I said, picking up Mr. Freneau’s leather bag, which he had dropped as an inevitable result of Leonidas’s expertly placed blow. It was dark and thus easy for my fingers to explore inside, extract a thick package of folded papers, and slip them into my own coat. “Your bag, sir,” I said, holding it out.

He snatched the bag with great irritation. “You did that purposefully.”

“For what reason,” I demanded, “would I knock down a stranger on purpose?”

“Come, Saunders. You must know by now I’ve been keeping my eye on you.”

I gasped. “Can it be?”

“You may choose to play games,” said Freneau, “but I think it time we dealt openly.”

Being in possession of Freneau’s documents, I could not help but think the advantage was mine, so I invited him to join me in the taproom of Fraunces Tavern. I was happy to escape the cold, and we made ourselves comfortable near the fire. Before I could call for refreshment, the publican came forth to inform me that Duer had made the same arrangement with him as with the owner of the Merchants’. I therefore asked him to send me two of his best bottles of wine. I did not want them for myself, only to make Duer pay and to make him believe I depended more on his generosity than I did.

“Now, then,” I said to Freneau, “perhaps you will tell me what you wish of me.”

“You know what I wish. I wish to know what Duer and Hamilton are up to.”

“They are not up to anything together.”

“Together, separate, it hardly matters. You will find it is all of a piece. Now, out with it. There has been something brewing for some time. I’ve long felt it. This is an election year, you know, and my readers must have the truth.”

“Perhaps you should first tell us what you know, since I too must have the truth. You say what you know, and then I will add what I can.”

Freneau pressed his lips together in satisfaction, which made him look all the more froggish. “I know Duer plans to gain ownership of the Million Bank. He puts it about that he thinks the scheme will fail, but it is only so he and his agents can obtain more shares themselves.”

“What is the harm in that? Many predict the bank won’t survive, but if Duer wants to invest in it may he not do so?”

“Duer lies. He warns everyone away from the Million Bank launch, and then he plans to move in with his agents to gain a controlling share. What happens then? It’s a new bank. It is regarded with interest and enthusiasm. The value of its shares rise, and, inevitably, the value of the shares of other banks falls. It may be temporary, but it happens. But if a man controls enough of one bank he can then use the artificial value of the inflated price of shares to buy up a controlling interest in another bank. In this case, Duer thinks he can use the Million Bank to take over the Bank of the United States. When he is done, the most venal man in America will hold in his hands the nation’s finances, and Hamilton will have all but handed his bank over to him.”

“It is a fantasy of Hamilton-haters,” I said. “Why should Hamilton wish to sacrifice the bank, the thing of which he is most proud, by surrendering it to Duer?”

“ Hamilton wishes to erase the difference between the government and the moneyed interests,” said Freneau. “He wants to out-British the British, to build a corrupt nation, run by the rich, who use land and people as a factory for their greed.”

“It must be pleasant to believe one’s own lies,” I said.

“I have proof enough.” He patted his bag. “I can demonstrate what sort of a monster Duer is. His agents in Philadelphia and Baltimore and Charleston short government issues, and the word spreads, so the price declines. His agents in New York and Boston then buy them at a reduced price.”

“But how does that aid him?” I asked. “One set of agents loses money, the other set gains. Does that not eliminate, or at least reduce, his profits?”

“It would,” said Freneau, “if the agents shorting were using Duer’s money. No, these are more like partners, convinced that they are sharing risks and rewards with the great man. They don’t know it, but Duer sacrifices them in order to gain what he imagines to be ultimate wealth.”

“Is Jacob Pearson such a man?” I asked.

“He is,” Freneau said. “Duer has quite devastated Pearson’s holdings, but the man is too big a fool to see it. What remains of Pearson’s wealth will be put into the Million Bank, and then Duer will offer to help with Pearson’s new debt in exchange for his Million Bank shares.”

“That can’t be the only means by which Duer aims to get control of the bank.”

“No,” said Freneau. “He has other agents, men who will, in fact, use Duer’s money, to buy on the day of the launch.”

“Do you know who they are?”

“I have that information,” he said, patting his bag again. “But it is time for you to give me something.”

“I’ve heard a rumor that Pearson is in New York. Do you know if that’s true?”

“I have heard he is, but I have also heard he does not wish his whereabouts known.”

“So you can tell me nothing of it?” I pressed.

“Nothing,” said Freneau, “but one never knows when new information may be acquired. Make me your friend, sir, and I shall keep your questions in mind.”

I was distracted, thinking of Pearson, of his hitting Cynthia, of his fist striking her face. I thought of him threatening to harm his own children. I had thought Freneau could tell me, but he knew nothing. If he deceived me about anything, I believed, it was about the likelihood he might yet discover the information I wanted. “Very well,” I muttered.

“Tell me about Kyler Lavien,” said Freneau.

That brought me back to the conversation. I did not know how much Freneau and the Jeffersonians knew about Lavien, but anything was too much.

I looked at him and did my best to appear puzzled. “Who?”

“Don’t attempt to make me into a fool,” he said.

“How could I attempt myself what nature hath wrought to perfection?”

Freneau sat straight. “Do you break your word in order to protect a scoundrel like Hamilton?”

“I’ve grown somewhat fond of Hamilton,” I said. “I discover he is a decent man, and I’ll not help a bloodthirsty jackal like you libel his name because you refuse to recognize that he and Duer, however much they may once have been friends, are now set against each other. Can you not advance the cause of your democratical republicanism with the truth? If you can’t, perhaps it is not worth advancing.”

Freneau chose to act as though I’d said nothing. “I asked you to tell me about Lavien.”

“I ca

Freneau, unflatteringly, allowed his eyes to bulge. “I’m sorry I told you anything. I wish I could take back my words.”

“And I wish all children of the world might be given the gift of beautiful flowers. Now be gone, you tedious man, and trouble me no longer.”