The Confusion

As to the gold you lost: since I cannot satisfy you where this is concerned, I have resolved to compensate you, inasmuch as that is possible, by other means. I am well aware that the gold taken off Bonanza possesses special properties, the loss of which no amount of mundane silver and gold can make good. But until such time as the thieves are tracked down, there is nothing I can do but try to make up your losses in the only way I know how. I lost all of my personal assets shortly after Johann was born, and so have no money of my own that I could send you. The property of my new family, the Lavardacs, is not at my disposal. I can dwell in the family residences, but not sell them. I can eat off the family plate, but not melt it down. However, my position does afford me a matchless vantage-point on the workings of French government finance. I frequently become aware of opportunities in this field from which a man in your position could reap considerable gains with little effort or risk. As a sort of down-payment or, if you will, interest on the lost gold of Bonanza-which I have every intention of repaying in full when it becomes possible-I present you, now, with such an opportunity-the first in what I hope will grow into a long series of profitable liaisons.

Your agent in Lyon, Gerhard Mann, will presently be able to tell you more concerning this, but here it is in a nutshell: The French government needs to transfer silver to England to pay the French and Irish troops who will invade that country from around Cherbourg in late May. They were going to ship the silver over directly, but recently I have convinced them that it will be more efficient to make use of the existing commercial channels, viz. a Bill issued in Lyon against the credit of M. Castan (backed, it goes without saying, by France) and payable in silver coin in London. The Bill would need to be issued early in May and payable in late May or early June, and it would have to be transferable, since the identity of the French payee in London might not be known until later, and in any case, for obvious reasons, would need to be kept secret.

Because this is being arranged at the last minute, during wartime, you could probably demand a very high fee, as these things go.

Moreover, the transaction would involve relatively little risk for you. You may laugh at this, for it must sound absurd to claim that shipping silver to England in wartime is not risky; but it is true, for the reason that the invasion probably will never happen. And if it does, it will fail. The entire plan is predicated on the assumption that the common people of England will welcome an invasion by French and Irish troops come to place a Catholic on the throne. Nothing more absurd can be imagined. You may easily verify this through your own excellent sources. So by far the most likely outcome is that the Bills you issue in Lyon will never reach England, and never be presented for payment; the transaction will be cancelled, and you shall get to keep the fee and the float on the funds transferred in Lyon. The worst possible outcome, then, is that the Bills are presented and accepted; but this would be nothing more than a routine, albeit large, transaction for the House of Hacklheber.

I have done all in my power to predispose M. le comte de Pontchartrain, M. Bernard, and M. Castan to select the House of Hacklheber as its bank for this transaction. They show signs of favoring the idea; yet as you know, there is much competition in Lyon, and I do not have the power to compel them to deal with you. I shall continue to work discreetly on your behalf unless you write back requesting that I desist.

In return I ask nothing, save that you might show me more favor than in the past, and consider allowing me to pay a brief visit (chaperoned if you wish) to little Johann, if I can find some way of getting to Leipzig.

I am, mein Herr, your humble and obedient servant

Eliza, duchesse d’Arcachon, comtesse de la Zeur

Eliza to King William III of England 12 APRIL 1692

Majesty,