Tired and in need of refreshment, we took ourselves at once to Fraunces Tavern and proceeded to secure our room. After washing, I went down to the taproom, a spacious and well-lit affair, where I called for a plate of boiled ham and bread and two bottles of their most agreeable wine.
Once we had completed our meal, I told Leonidas that we might do well to begin our work. “We’ll go see Duer,” I said. “He has ever been at the center of all of this. Perhaps he can tell us where to find Pearson.”
“What makes you think he will tell you anything?”
I shrugged. “I will ask politely.”
We then hired a coach and traveled to a more northern location on the island of Manhattan, a village called Greenwich, where Duer’s palatial home stood with all the regal bearing of an old-world manor house. I understood that our trip might be for naught, for a man of Mr. Duer’s prominence could well be abroad attending to business or social concerns, but we were fortunate and he was at home. The servant appeared reluctant to admit us, but I used the name of Hamilton, which proved a shibboleth not to be denied, particularly when Duer’s own wife was cousin to Hamilton ’s lady. With Leonidas taken to the kitchens to learn what he could, I was shown to a commodious room identified as a study and offered refreshment.
At last the door opened, and I recognized the prim and slender form of Mr. Duer from our brief encounters at Philadelphia. There was no sign of the mysterious Mr. Reynolds, but now he was accompanied by a very tall creature, a man with large eyes of a sunken appearance, a hooked nose, and thin lips seemingly devoid of blood. His hair, the color of dirt, thinned considerably in the front, but hung loose and stringy in the back. He was, as I say, tall, though of a narrow and stooping frame, with hunched and rounded shoulders, and he appeared, for all the world, to be panting.
“Ah, Captain Saunders,” Duer said. “I am so sorry I could not keep our appointment in Philadelphia, but it is good of you to call upon me here, though it’s rather an extravagant gesture. A letter would do, perhaps?”
“My particular interests favor a visit.” I kept my voice agreeable, but I met his eye with a determined stare.
“Yes, yes. But where are my manners?” he shouted to the universe. “Wherever are they? I must present to you my associate,” he said, gesturing to the man I found increasingly troll-like, lurking still near the door, “Mr. Isaac Whippo. Whippo is something of a factotum in my service. I have found him to be indispensable in my work.”
I expected the factotum to bow or acknowledge the kindness of his master. Instead, he picked at a piece of lint on his not-overclean sleeve as though I were not worth his interest.
Duer gestured for me to sit, and I did so, though Whippo remained standing, at first lurking near the door and then standing near the window, gazing out into the darkness like a pampered pet who wishes the freedom to relieve himself.
Duer steepled his fingers and gazed at me through the window of digits. “Yes, well, it is all a bit redundant. I suppose I must answer questions, but I don’t see that I must do it twice.”
“Twice?”
“Yes. That little Jewish man, Lavien, has already been here today. Now must I speak to you as well?”
“Lavien? How did he get here before I did? I took the first express after I last saw him.”
“He rode,” said Duer. “Upon horseback, I believe. Much faster than the express.”
“And did you have a pleasant conversation with Mr. Lavien?”
“No, I did not. I don’t like the fellow.”
“Then you may have a pleasant conversation with me. Unlike Mr. Lavien, I do not work for the government or for Hamilton. I am here upon my own business. Lavien, I presume, was anxious to learn about information surrounding the bank.”
I had intended to refer to the Bank of the United States, but Duer misunderstood me. “Yes, I told him I have no connection to any new banks. I would not invest in the Million Bank, and I pity anyone who does. It is doomed to fail.”
“I have heard that you are intimately involved in the Million Bank,” I said.
“It’s a damnable lie,” he said. “Someone makes free with my name. It happens frequently, I am sad to say. It is an unfortunate consequence of reputation that when my name is attached to a project it is often viewed as a sign of inevitable success. Thus there are men who will cast it about that I have smiled upon their undertaking to generate interest among the general populace. I fear it may be so in this case. Anyone who invests in the Million Bank is certain to lose his money.”
“And what of the Bank of the United States? Did Mr. Lavien ask you about that?”
“What is there to ask?” He continued to peer at me through his fingers, which made it difficult to measure his face as I would like.
“Some sort of danger to the bank, perhaps?”
“Don’t be absurd. The bank is already a monolith. Nothing can harm it.”
“Not even the Million Bank?”
“It would be like a mouse assaulting a lion.”
I decided I would set out my concerns directly and see what happened next. “Am I to presume from what you say that you have no designs yourself against the national bank, no effort in seeing it stumble or even fail?”
“What an absurd notion. Why should I wish to see it fail? The bank could not be more dear to me.”
“Dear to you precisely how?” I asked. “The bank and government securities are quite closely bound together, and I have discovered your agents are selling government securities short. You are gambling upon the price of the stock going down, are you not? Your situation, as I understand it, would suffer considerably if the price should go up. It sounds to me that what is dear to you is the depression of our economy.”
At last he moved his hands, that he might flick his fingers dismissively. “You have many excellent talents, I don’t doubt, but you do not know a great deal about finance. Whippo, does Captain Saunders strike you as a financial man?”
Whippo slowly rotated his cadaverous head toward me. “’Tis not how he strikes me.”
“Truly, you must not think of this as a play, sir, with a hero and a villain. An agent in my employ may or may not sell short, for he is my agent, not my servant. He may engage in any number of transactions separate from, or even contrary to, my own wishes. That he does so does not mean he acts according to my orders. I am an important man and very influential. I would not have you saying in public that I sell securities short.”
“Nevertheless,” I said, “on the express from Philadelphia, I heard a group of speculators saying just that.”
Duer snickered and turned to Whippo. “He heard a group of speculators, quotha.” Then, to me: “You cannot be serious that you come to me in order to relate idle gossip heard on a coach. That is not your business, is it?”
To my surprise, the speculator had taken control of the conversation with the tenacity of a terrier and did not mean to let go.
“Now, as to the reality of the matter,” Duer continued, “I do not say what my agents buy or sell when they are about their own affairs. It is not for me to know. As for what I do, I prefer to keep that to myself, and I ask that you keep your suppositions to yourself as well. Any rumors you might spread could be very detrimental to my finances and, by extension, to America itself.”
“You have been attempting to drive down prices,” I said. “How can you say you do so for the good of America?”
“I am afraid this confusion originates from your own poor understanding of the markets. Let us say I do gamble upon the value of securities declining. Does that make me an enemy of the government? I think not. Prices are in endless shift, and if I am to wager they shall be down this moment, it does not mean I wish them to be down or expect them to remain down forever. It is but the natural ebb and flow of the market, and it is no more than what Hamilton expects-indeed, what Hamilton desires. Why else has his bank made credit so cheap, but that we might buy and sell and attempt to guess the end result? To say I abuse the markets by attempting to predict them is like saying a ship abuses the ocean by riding upon it.”