To serve in this role of intermediary, several candidates come to mind, for Cherbourg is crowded just now with notable personages. But all of them are busy and distracted. I, meanwhile, have nothing to do save gaze out the window of my cabin in the sterncastle of this jacht, and watch the preparations. As odd as it might sound, I may be the safest person to choose for this role, since there is obviously no likelihood whatever of my crossing the Channel and falling into the hands of enemy interrogators; this alone should be a great comfort to the agents whose names I shall write across the backs of those bills before they set forth on their perilous missions. So, unless you object very strongly, simply endorse the Bills to me and send them to me at Cherbourg.

I don’t know how Lothar is sending the avisas to London, but presumably his channels are swifter than ours, and his payers in England will be ready and waiting for our payees whensoever they arrive.

Eliza

P.S. I look forward to continuing our conversation about St.-Malo. The merchants of the Compagnie des Indes, who on a normal day swagger about that town as if they owned it, have been displaced, and quite out-classed, by the captains and admirals of our invasion fleet. As a result they are almost pathetically eager to talk to anyone about anything-including the state of our commerce with India. My head is full of more information than it can hold, and all of it useless to me. After the invasion, we must meet again at the Cafe Esphahan, and I’ll tell you all that I know.

Samuel Bernard to Eliza

23 MAY 1692

Madame la comtesse,

Five Bills should be enclosed, each in the amount of one hundred thousand livres tournoises and each endorsed, for the time being, to you. These are drawn ultimately on the credit of the French treasury as personified by M. le comte de Pontchartrain. If you see him, perhaps you could think of a polite way of reminding him that the chain of credit passes through yours truly; my friend Monsieur Castan; and diverse members of the Depot of Lyon.

It is a good thing that I went to Lyon, for in the end it was necessary for me to involve myself in the negotiations with Lothar (he was obviously present in Lyon, but we were never in the same room together; his factor Gerhard Mann mediated all of our discussions).

Monsieur Castan is cunning and assiduous, but when presented with something outside his scope he does not respond well, and is apt to become flustered and then irritable. This happened very early in our talks with the House of Hacklheber. It took some time for me to understand why: Lothar believes that the invasion will never actually happen; or that if it does, it will be snuffed out within a few hours. In consequence, our negotiations over the terms of these Bills were strangely duplicitous. The nominal purpose was to pay troops in England, and so we had to settle terms in such a way that we-meaning France-could get silver coin in England, while allowing Lothar to realize some profit. In that sense I got what we wanted, viz. wholly legitimate, negotiable Bills which you now have in your hand. But Lothar’s true purpose, as I eventually came to understand, was to reap a large windfall at very little risk by expressing a willingness to forward silver for an invasion that would never materialize. In effect he was selling us insurance against the contingency that our invasion fails to fail. It was this subtext that M. Castan had not understood, with the result that he was bewildered by what he saw as erratic demands made by the House of Hacklheber.