The Hamilton Affair by Elizabeth Cobbs

Author:Elizabeth Cobbs
Language: eng
Format: epub
Publisher: Arcade Publishing
Published: 2016-06-14T04:00:00+00:00

CHAPTER TWENTY-FIVE

June 1790

New York City

“After we were disbanded, I returned to my old master at Woodbury, with whom I lived one year, my services in the American war having emancipated me from further slavery and from being bartered or sold…. I enjoyed the pleasures of a freeman; my food was sweet, my labor pleasure: … life seemed to shine upon me.”

Memoirs of Boyrereau Brinch, 1810

ALEXANDER SLID THE SHEAF OF TREASURY stationery into his valise. The printer to whom Ajax Manly was apprenticed gave the government a good price and Alexander an excuse to visit his old friend.

Ajax wiped his hands on a rag stained with black ink. “I’m going to take the longer payout.”

“Are you sure? It’ll be awhile before you get your money.”

Like most veterans, Ajax still hadn’t collected his earnings from the war that ended seven years earlier. He was one of thousands to whom America was literally indebted. Alexander himself wasn’t in that category since he had renounced years of back pay to show Congress he would gain nothing personally if his proposals were accepted. The Treasury Department had devised a plan to compensate veterans with land or long-term bonds. On land, Ajax could build a home or farm. If he chose the bonds, he would get new bonds in exchange for the old, delinquent ones. They wouldn’t mature for several more years.

Ajax passed the rag over the counter, pausing at a greasy smudge that he cleaned with a few hard strokes. The print shop, in which summer’s heat had been building since daybreak, was closed for the night.

“I don’t want Western land. Who knows what it’s like?”

“Land will go up in value. People are moving west.”

“My old bonds have already accreted in value,” Ajax said.

Ajax was volunteering at the African Free School started by the New York Manumission Society, and Alexander assumed he was borrowing books while teaching others to read. That would be like him. Someone must have donated a book on finance for the school library.

“I’m glad you didn’t sell early,” Alexander said.

“You might have warned me not to.”

“I did.”

“Back when. After Yorktown. You could’ve warned me again when I had stockjobbers coming in off the streets to sweet-talk me out of them.”

Ajax didn’t sound angry, but Alexander knew his friend expected more from his old artillery captain. Alexander spent the better part of most days fielding grievances from old acquaintances and new ones. But he didn’t have time for complaints right now. Not if he wanted to be on time for the showdown with Jefferson and Madison.

Alexander shook off a feeling of weariness. “I’d be rightly accused of corruption if I tipped you off. I couldn’t even tell my father-in-law what we were planning. General Schuyler was so frightened about losing his investments that his hair stood on end. Eliza was worried sick.”

Ajax shrugged and swiped at another grease spot. “If you say so.”

The Treasury’s unexpected proposal that Congress repay its old war debts at face value had flushed speculators from every crevice.

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