The System of the World

Southern England
LATE JANUARY 1714

TRUE TO HIS WORD, Mr. Threader-or, to be precise, Mr. Threader’s train of carts, coaches, spare horses, and blokes on horseback-collected Daniel from the Saracen’s Head on the morning of 16 January 1714, hours before even the most optimistic rooster would be moved to crow. Daniel was proffered with a courtly bow, and accepted with sincere reluctance, the distinction of riding with Mr. Threader himself in his personal coach.

As Daniel’s person had been deemed so worthy, his baggage (three sea-trunks, two of which sported bullet-holes) merited placement on the cart that followed right behind the coach. Getting it there was not to be achieved without a few minutes’ unpacking and rearranging.

Daniel stayed outside to observe this, not because he was worried (the luggage had survived worse) but because it gave him a last opportunity to stretch his legs, which was something he had to do frequently, to prevent his knees from congealing. He doddered round the Inn’s stable-yard trying to dodge manure-piles by moon-light. The porters had unpacked from the wagon a matched set of three wooden boxes whose deeply polished wood harvested that light and raked it together into a pattern of gleams. They were expertly dovetailed together at the corners, and furnished with pretty hardware: hinges, locks, and handles made to look like natural swirlings of acanthus-leaves and other flora beloved of ancient Roman interior decorators. Behind them on the cart was a row of peculiarly tiny strong-boxes, some no larger than tobacco-chests.

The three wooden cases put Daniel in mind of the ones commissioned by the more well-heeled Fellows of the Royal Society for storage and transportation of scientific prodigies. When Hooke had made the Rarefying Engine for Boyle, Boyle caused such a box to be made to carry it round in, to emphasize its great significance.

In his laboratory in the cupola of Bedlam, Hooke had used Comstock gunpowder to drive the piston of such an engine, and had shown it could do work-or in Hooke-language, that it could give service as an artificial muscle. That was because Hooke the cripple had wanted to fly, and knew that neither his muscles nor anyone else’s were strong enough. Hooke knew that there were certain vapors, issuing e.g. from mines, that would burn with great violence, and hoped to learn the art of generating them and of conducting them into a cylinder to drive a piston-which would be an improvement on the gunpowder. But Hooke had other concerns to distract him, and Daniel had distractions of his own that led him apart from Hooke, and if Hooke’s artificial muscles had ever been perfected, Daniel had never seen them, nor heard about them. Now Newcomen was finally doing it; but his machines were great brutish contraptions, reflecting the fact that Newcomen was a blacksmith to miners where Hooke had been a watchmaker to Kings.

That merely glimpsing three good wooden boxes on a baggage-wain could lead to such broodings made Daniel wonder that he could get out of bed in the morning. Once, he had feared that old age would bring senility; now, he was certain it would slowly paralyze him by encumbering each tiny thing with all sorts of significations. And to become involved, at this late date, with the Engine for Raising Water by Fire, hardly simplified matters! Perhaps he was being too hard on himself, though. He was of an age where it was never possible to pursue one errand at a time. He must do many at once. He guessed that people who had lived right and arranged things properly must have it all rigged so that all of their quests ran in parallel, and reinforced and supported one another just so. They gained reputations as conjurors. Others found their errands running at cross purposes and were never able to do anything; they ended up seeming mad, or else perceived the futility of what they were doing and gave up, or turned to drink. Daniel was not yet certain which category he was in, but he suspected he’d find out soon enough. So he tried to forget about Hooke-which was difficult, since Daniel was still carrying his bladder-stone around in one pocket, and Hooke’s watch in the other-and got into the coach with Mr. Threader.

Mr. Threader bid him good morning and then slid down the coach’s window and made some remarks to his entourage, the general import of which was that they ought all to begin moving in the direction of London. This command was received much too cheerfully, as if going to London were a sudden brilliant improvisation of Mr. Threader’s. Movement commenced; and so it came to pass that on the evening of the 16th they found themselves slightly less far away from London than they had been at the start, and on the evening of the 17th, slightly less distant still. They lost ground on the 18th. Progress on the 19th was debatable. Certain days (as when they wandered north to the suburbs of Bristol) they might have been vulnerable to the accusation that they were not making any progress whatsoever.

Daniel’s father, Drake Waterhouse, had once moved his person, two horses, a pistol, some bags of oats, a Geneva Bible, and a sack containing eleven hundred pounds sterling from York to London-a distance comparable to the one Daniel was attempting to cover with Mr. Threader-in a single day. And this at the height of the Civil War, when roads were so muddy, and canals so murky, as to erase the distinction. That ride, and others like it, had become proverbial among Puritan traders: examplars of Industry. Mr. Threader, by contrast, played the slothful tortoise to Drake’s enterprising hare. On the first day of the journey, they stopped no fewer than five times so that Mr. Threader could engage in lengthy conversations with gentlemen who surprised them along the way-in all cases, gentlemen who happened to have been in attendance at the Court of Stannary the day before.

Daniel had just begun to form the idea that Mr. Threader was not of sound mind, when, during the last of these conversations, his ears picked up the sounds of coins in collision.

Daniel had come well stocked with books, borrowed from Lostwithiel’s small but colorful library. He began reading his way through them, and gave little further thought to Mr. Threader’s activities for the next several days. But he saw and heard things, which was a grievous distraction for one who was suffering from the particular form of anti-senility troubling Daniel.

Just as the end of a Parishioner’s life was announced by the tolling of the church-bell, so the demise of a Threader-conversation was invariably signalled by the music of coins: never the shrill clashing of farthings and Spanish bits, but the thick, liquid clacking of English golden guineas hefted in Mr. Threader’s hand. This was a nervous habit of Mr. Threader’s. Or so Daniel guessed, since he obviously was not doing it to be tasteful. Once, Daniel actually caught him juggling a pair of guineas one-handed, with his eyes closed; when he opened his eyes, and realized Daniel was watching, he stuffed one coin into the left, and the other into the right, pocket of his coat.

By the time they had got past Salisbury Plain en route to the suburbs of Southampton, and thereby put all strange Druidic monuments behind them, Daniel had learned what to expect from a day on the road with Mr. Threader. They traveled generally on good roads through prosperous country-nothing remarkable in itself, save that Daniel had never in his life seen roads so excellent and country so thriving. England was now as different from the England of Drake, as Ile-de-France was from Muscovy. They never went into the cities. Sometimes they would graze a suburb, but only to call upon some stately manor-house that had formerly stood all by itself in the country (or had been made, in recent times, to look like such a house). In general, though, Mr. Threader hewed to the open country, and sniffed out the seats of gentle and noble families, where he was never expected but invariably welcome. He carried no goods and performed no obvious services. He dealt, rather, in conversation. Several hours of each day were devoted to talking. After each conversation he would retire, clinking pleasantly, to his carriage, and open up a great Book-not a ledger (which would be tasteless) but a simple Waste-Book of blank pages-and joggle down a few cryptical notations with a quill pen. He peered at his diary through tiny lenses, looking somewhat like a preacher who made up the scripture as he went along-an Evangelist of some gospel that was none the less pagan for being extremely genteel. This illusion, however, diminished as they drew (at length) closer to London, and he began to dress more brilliantly, and to bother with periwigs. These, which would have been ornaments on most humans, were impenetrable disguises on Mr. Threader. Daniel put this down to the man’s utter lack of features. On careful inspection one could discover a nose in the center of the fleshy oval that topped Mr. Threader’s neck, and working outwards from there, find the other bits that made up a face. But without such diligent observations, Mr. Threader was a meat tabula rasa, like the exposed cliff of a roast beef left by the carver’s knife. Daniel at first took Mr. Threader for a man of about three score years, though as the days went on, he began to suspect that Mr. Threader was older than that, and that age, like a monkey trying to scale a mirror, simply had not been able to find any toe-hold on that face.

Southampton was a great sea-port, and since Mr. Threader obviously had something to do with money, Daniel assumed they would go to it-just as he had assumed, a few days before, that they would go into Bristol. But instead of Bristol, they had traced a hyperbola around Bath, and instead of Southampton, they grazed Winchester. Mr. Threader, it seemed, felt more comfortable with cities that had actually been laid down by the Romans, and viewed the newfangled port-towns as little better than hovels thrown up by Pictish hunter-gatherers. Recoiling from salt water, they now set a course, not precisely for Oxford, but for a lot of tiny places between Winchester and Oxford that Daniel had never heard of.

Now, Daniel was not being held captive; Mr. Threader even tendered apologies to him more than once, and offered to put him on a hired coach to London. But this only made Daniel want to see it through with present company. (1) Partly it was class. To leap out of Mr. Threader’s excellent carriage and dash off to London in a grubby hack-coach would be to admit that he was in a hurry-which, in Mr. Threader’s crowd, was not done. (2) He had been worried, anyway, about his knees locking up if he were forced to sit for a long time; which would be true, axiomatically, in an efficient coach. The leisurely itinerary of Mr. Threader was just the one Daniel would have chosen, had he been afforded the power to choose. (3) He was not in a hurry anyway. According to what Enoch Root had confided to him in Boston, his summons from the Princess had been a single mote in a storm of activity that had broken in the Court of Hanover in the late spring and early summer of the year just concluded, after the signing of the Peace of Utrecht had brought the War of the Spanish Succession to an end, and got all the Princes and Parliaments of Europe thinking about what they were going to do with the rest of the Eighteenth Century. Caroline could be made the Princess of Wales, and Daniel’s errand could suddenly be imbued with all sorts of import and urgency, by two deaths-Queen Anne’s and Sophie’s. Perhaps Caroline had, at that time, had reasons to expect the former, and to fear the latter. Accordingly, she had begun to set her pieces out on the board, and dispatched her summons to Daniel. But both Anne and Sophie were still alive, as far as Daniel knew. So he was not even a pawn yet. ’Twere pointless, as well as self-important, to rush to London, so long as he was on the island, and able to reach the city on short notice. Better to take his time and to see that island, so that he would better understand how things were, and be a more competent pawn when the time came. Through the windows of Mr. Threader’s carriage he was viewing a country almost as strange to him as Japan. It was not only England’s unwonted peace and prosperity that made it strange to him. Too, it was that he was viewing places that Puritans and Professors did not get invited to. Since Daniel had never seen those places, he tended to forget they existed, and to discount the importance of the people who lived in them. But this was a mistake, which would make him a very poor and useless pawn indeed if he did not mend it; and weak pawns were liable to be sacrificed early in the game.

They had a surprising bit of warm weather then, for a day or two. Daniel took advantage of it by getting out of that coach whenever it stopped moving. When he tired of walking, he had his great raccoon-lined cape brought out-it filled a trunk by itself-and spread upon the wet grass. There was always grass, for they always stopped in places with lawns, and it was always short, for there were always sheep. On his square of American raccoon fur he would sit and read a book or eat an apple, or lie on his back in the sun and doze. These little picnics enabled him to make further observations of Mr. Threader’s business practices, if that is what they were. From time to time, through a manor-house window, across a Great Lawn, or between sparkling fountain-streams, he would catch sight of Mr. Threader passing a scrap of paper to a gentleman, or vice versa. They looked like perfectly ordinary scraps-not engraved, like Bank of England notes, and not encumbered with pendulous wax seals like legal documents. But their passing from hand to hand was always attended with much courtesy and gravitas.

If children were present, they would follow Mr. Threader about, and, whenever he stopped moving, form up around him and look expectant. He would pretend not to notice them at first. Then, suddenly, he would reach out and snatch a penny out of some child’s ear. “Were you looking for this? Do take it-it is yours!” he’d say, holding it out, but before the little hand could grasp it, the penny would vanish as mysteriously as it had appeared, and be discovered a moment later in a dog’s mouth or under a stone, only to disappear again, amp;c., amp;c. He would drive the little ones into a frenzy of delight before finally bestowing a silver penny on each of them. Daniel hated himself for being so fascinated by what he knew to be the cheap jugglery of a carnival mountebank, but he could not help watching. How, he wondered, could the wealthy parents of these children entrust money-as they apparently did-to a prestidigitator?

On one Lawn, while he dozed, sheep came up all around him, and the sound of them grazing became a sort of continuo-line to his dreams. He opened his eyes to see a set of blunt yellow sheep-teeth tearing at the grass, inches from his face. Those teeth, and the mass of winter wool that had turned the animal into a waddling, greasy bale, struck him as most remarkable. That solely by gnawing at the turf and lapping up water, an animal could generate matter like teeth and wool!

How many sheep in England? And not just in January 1714 but in all the millennia before? Why had the island not sunk into the sea under the weight of sheep-bones and sheep-teeth? Possibly because their wool was exported-mostly to Holland-which was in fact sinking into the sea! Q.E.D.

On the 27th of January they entered a forest. Daniel was astonished by its size. He thought they were somewhere near Oxford-it went without saying that they were avoiding the city itself. He saw a fragment of Royal heraldry, but old and ivy-grown. They must be on the estate that, in his day, had been known as the Royal Manor and Park of Woodstock. But Queen Anne had given it to the Duke of Marlborough in gratitude for his winning the Battle of Blenheim, and Saving the World, ten years ago. The Queen’s intention was that a magnificent Palace was to be thrown up there for Marlborough and his descendants to dwell in. If this had been France, and the Queen had been Louis XIV, it would have been done by now-but it was England, Parliament had its knobby fingers around the Monarch’s throat, and Whigs and Tories were joined in an eternal shin-kicking contest to determine which faction should have the honor of throttling her Majesty, and how hard. In the course of which, Marlborough, a quintessential Tory, and son of a Cavalier, had somehow been painted as a Whig. Queen Anne, who had decided, very late in life, that she much preferred Tories, had stripped him of military command, and in general made life so unrewarding for him in England that he and Sarah had gone away to Northern Europe (where he was considered the greatest thing since beer) to bask in the gratitude of Protestants until such time as the Queen stopped fogging mirrors at Kensington Palace.

Knowing all of this, and knowing what he knew of construction sites and of the English climate, Daniel expected to see a lifeless morass surrounded by a slum of underemployed workers huddling under tarpaulins and drinking gin. For the most part he was not disappointed. But Mr. Threader with his genius for skirting, and his abhorrence of the center, teased Daniel by taking unmarked tracks through the woods and across meadows, opening gates and even taking down fence-rails as if he owned the place, and sniffing out the cottages and lodges where the Duke’s tame gentlemen kept records and counted coins. In glimpses between the trunks of trees (where trees still stood) or piles of timbers (where they didn’t) Daniel collected vague impressions of the Palace’s foundations, and some half-completed walls.

This divagation to Woodstock finally broke the ice-which had been very thick-between Dr. Waterhouse and Mr. Threader. It was clear that Daniel was as mysterious to Mr. Threader as the other way round. Since Threader had not been present at Crockern Tor-he had lain in wait for the Stannary Court at the Saracen’s Head-he’d not had the benefit of hearing Will Comstock’s account of the Plague Year. All Mr. Threader knew was that Daniel was a Royal Society chap. He could infer that Daniel had got in solely on account of his brains, as he was manifestly lacking in the other tickets: wealth and class.

In the early going, out in Devon where distances between fine houses were greater, Mr. Threader had not been able to restrain himself from circling round Daniel and jabbing at his outer defenses. He had somehow got it in his head that Daniel was connected to the family of Will Comstock’s bride. And to him this would make sense. Will had married the daughter of a Plymouth merchant who had grown wealthy importing wine from Portugal. But her great-grandfather had been a cooper. Will, by contrast, had noble blood, but no money. Such complementary marriages were all the rage now. Daniel was no gentleman; ergo, he must be some friend of the cooper’s folk. And so Mr. Threader had made certain dry, deadpan utterances about Will Comstock, hoping that Daniel would put his book down and unburden himself of some lacerating comments about the folly of using steam to do work. In the first few days’ travel he had bobbled such bait before Daniel, but his angling had been in vain. Since then, Daniel had kept busy reading in his books and Mr. Threader writing in his. Both men were of an age when they were in no great hurry to make friends and share confidences. Starting friendships, like opening up new overseas trade routes, was a mad venture best left to the young.

Still, from time to time, Mr. Threader would lob dry conversation-starters in Daniel’s direction. Just to be a good sport, Daniel would do the same. But neither man could accept the loss of face that attended curiosity. Daniel could not bring himself to come out and ask what Mr. Threader did for a living, as he could see that among the set who kept big houses in the country, it was perfectly obvious, and that only an idiot, or a grubby Whig, would not know. Mr. Threader, for his part, wanted to know how Daniel was connected to the Earl of Lostwithiel. To him, it was monstrously strange that an aged Natural Philosopher should materialize all of a sudden in the middle of Dartmoor, in a coonskin wrapper, and croak out a few words that would cause every gentleman in a twenty-mile radius to liquidate other holdings, and buy stock in that commercial Lunatick Asylum, the Proprietors of the Engine for Raising Water by Fire.

Daniel had developed two alternative hypotheses: Mr. Threader was a betting agent who roamed about taking and settling wagers. Or, Mr. Threader was a Jesuit in disguise, visiting the homes of crypto-Catholic Jacobite Tories to hear confessions and to collect tithes. The polished wooden chests, according to this hypothesis, contained communion wafers, chalices, and other Popish gear.

All of these speculations collapsed in a few minutes when Daniel saw Blenheim Palace a-building; realized whose estate they were on; and, in his astonishment, forgot himself, and blurted, “Is he here?”

“Is who here, precisely? Dr. Waterhouse?” Mr. Threader asked delicately.

“Churchill.”

“Which Churchill?” Mr. Threader asked shrewdly. For new ones were being produced all the time.

“The Duke of Marlborough.” Then Daniel came to his senses. “No. I’m sorry. Stupid question. He’s in Antwerp.”

“Frankfort.”

“He has just moved to Antwerp,” Daniel insisted.

This occurred moments before Mr. Threader went into one of Marlborough’s out-houses to do whatever it was that he did. Meanwhile Daniel meditated on the foolishness of his little outburst. Obviously the Lord of the Manor was not in residence now. Men who owned such estates did not live upon them, at least, not in January. At this time of the year they were all in London. The most important occupants of the country estates were not men, but sheep, and the most important activity was conversion of grass into wool; for wool, exported, brought revenue, and revenue, farmed, enabled gentlefolk to pay rent, buy wine, and gamble in London, all winter long.

All clear enough in its general outlines. But as Daniel had got older he had developed a greater respect for details. Mr. Threader, he suspected, was a detail.

To a merchant, England was a necklace of sea-ports surrounding a howling impoverished waste. As with a burning log on a hearth, all the warmth, color and heat lay in the outer encrustation of ruby-red coals. The interior was cold, damp, dark, and dead. The sea served the same purpose for the commerce of England as the atmosphere did for combustion of a log. Any place that the sea could not reach was of no account, save in the vastly inferior sense that it sort of held everything together structurally.

And yet England did have an interior. Daniel had quite forgotten this until he had been awakened by the sheep-teeth right in front of his face. Unlike, say, the interior of New Spain, which produced its wealth in a few highly concentrated mines, England’s countryside made its treasure in the most diffuse way imaginable. There were no wool-mines. A given swath of grass produced infinitesimal revenue. In order to arrange it so that a Lord could wager a hundred guineas on a horse-race, some kind of frightfully tedious and complicated money-gathering process would have to take place, and it would have to take place all over England, all the time, without letup. Daniel’s eyes watered, to think of the number of separate transactions that must go on, all over a given hundred-mile-square patch of English turf, in order to yield a single pound sterling of free-and-

clear income, deliverable to a Fop in London.

But at any rate it happened somehow. The recipients of those pounds sterling gathered in London, all winter long, and engaged in Intercourse. That is, money changed hands among them. In the end, a great deal of that money must make its way back out into the countryside to pay for the building and upkeep of stately houses, amp;c., amp;c.

The stupidest imaginable way of handling it would have been to gather together all of the pennies in the countryside, from millions of tributary farmsteads, and physically transport them into London; let the wagon-trains feed and water while the gentlefolk carried out their Intercourse; and then load the coins back onto the wagons and haul them back out to the country again. And perhaps that was how they did it in some countries. But England had obstinately refused to mint coins of large denominations-which was to say, gold coins-in large enough quantities to be actually useful. Anyway, such coins were too enormous for small transactions on farms. Those that were minted, tended to be snapped up by London merchants, and used for overseas trade. The true coin of England, the one ordinary folk used, had always been the silver penny. But its low value-which was precisely what made it useful in market-town and countryside-made it miserably inconvenient for gentry who wanted to live in the city. The annual systole and diastole of wealth in and out of London would require movement of vast wagon-trains laden with coins.

One never saw such traffic on English roads, though. The very idea had a Robin Hood-esque, days-of-yore ring to it. And because what was out of sight was out of mind, Daniel had never thought about what was implied by the disappearance of money-chests from the highways of modern England.

Suppose one had gained the trust of many gentlefolk in London. One could then act as an intermediary, settling their transactions in the city with a word and a handshake, without the need for bags of silver to be lugged around and heaved into the doorways of posh town-houses.

Suppose one also had many contacts in the countryside-a network, as it were, of trusted associates on all of the estates and in all of the market-towns. Then one could almost dispense with the need for hauling stamped disks of silver to and from London on the highways-but only by replacing it with a torrential, two-way flow of information.

Winged-footed Mercury, messenger of the Gods, must have very little to do nowadays, as everyone in Europe seemed to be worshipping Jesus. If he could somehow be tracked down and put on retainer and put to work flitting back and forth from city to country and back, carrying information about who owed what to whom, and if one, furthermore, had rooms full of toiling Computers, or (engaging in a bit of Speculative Fiction here) a giant Arithmetickal Engine for balancing the accounts, then most transactions could be settled by moving a quill across a page, and movement of silver across England could be cut back to the minimum needed to settle the balance between city and country.

And forget silver. Convert it to gold, and the number of wagons required would be divided by thirteen.

And if one possessed a reservoir, a money-cistern somewhere, even those movements could be reduced-one could then do calculus on the curves, and integrate them over time-

“You were right,” Mr. Threader exclaimed, climbing back into the carriage. “His Grace has indeed moved to Antwerp.”

“When Queen Anne suffered her latest Onset of Symptoms,” Daniel said absent-mindedly, “George Louis in Hanover finally got it clear in his mind that he and his mum would be responsible for the United Kingdom any day now, and that they would need an apparatus-a Council of State, and a Commander in Chief.”

“Of course he would want Marlborough for that,” said Mr. Threader, sounding just a bit scandalized. As if there was something clearly improper about the next King of England choosing the most glorious and brilliant general of English history to take the reins of the Army.

“Therefore the Duke has gone to Antwerp to renew ties with our regiments in the Low Countries, and to be ready-”

“To pounce,” Mr. Threader said.

“Some would say, to be of service, when the new reign begins, and his exile comes to an end.”

“Self-imposed exile, let us not forget.”

“He is not a fool, nor a coward-he must have felt some strong compulsion to leave his country.”

“Oh, yes, he was to be prosecuted for duelling!”

“For issuing a challenge, I was informed, to Swallow Poulett, after Mr. Poulett said, to the Duke’s face, in Parliament, that the Duke had sent his officers off to be slaughtered in hopeless Engagements, so that the Duke could then profit from re-selling their commissions.”

“Scandalous!” said Mr. Threader ambiguously. “But that is in the past. The Duke’s pretensions as to his exile, however sturdy they may have appeared to some in the past, are now wholly undermined; for I have a bit of news concerning Marlborough that I’ll wager not even you have heard, Dr. Waterhouse!”

“I am cataleptic with anticipation, Mr. Threader.”

“My lord Oxford,” said Mr. Threader (referring to Robert Harley, Lord Treasurer of the Realm, the Queen’s chief minister, and leader of the Tory Juntilla which had thrown down the Whig Juncto four years earlier), “has granted the Duke of Marlborough a warrant of ten thousand pounds to resume construction of this Palace!”

Daniel picked up a London newspaper and rattled it. “What a very odd thing for him to do, when Harley’s own Spleen, the Examiner, is jetting bile at Marlborough.” This was Daniel’s delicate way of suggesting that Harley was only throwing money at Marlborough to create a distraction while he and his henchman Bolingbroke were up to something really reprehensible. Mr. Threader, however, took it at face value. “Mr. Jonathan Swift of the Examiner is a bull-terrier,” he proclaimed, and favored the newspaper with what, by Mr. Threader’s standards, was a warm look. “Once he got his canines sunk in my lord Marlborough’s leg it was several years’ labor for my lord Oxford to pry those foaming jaws apart; never mind; Harley’s deeds speak louder than Swift’s words; those Whigs who would claim Marlborough’s virtues for their own, must now explain the matter of those ten thousand pounds.”

Daniel was about to air the observation that ten thousand pounds was a very reasonable price for the Tories to pay to get Marlborough in their camp-especially since it was not actually their money-but he curbed his tongue, sensing that there was no point. He and Mr. Threader would never agree on a thing. There was no profit to be gained by further discussion anyway, for Mr. Threader’s fascination with those ten thousand pounds was the datum that enabled Daniel to solve the equation at last.

“I wonder if we might have met before, you and I,” Daniel mused. “Long ago.”

“It must have been very long ago indeed, sir. I never forget-”

“I have perceived that about you, Mr. Threader-that you allow certain things to slip decently into the past-which is practical-but you never forget, which is prudent. In this instance you have not forgot a thing; we were not formally introduced. In the summer of 1665, I left London and went out to find refuge at Epsom. As very little traffic was moving on the roads, for fear of the plague, I had to walk from Epsom town out to John Comstock’s estate. It was rather along walk, but in no way unpleasant. I recall being overtaken by a carriage that was on its way to the manor-house. Painted upon its door was a coat of arms not familiar to me. I saw it several more times during my stay there. For even though the rest of England was immobilized-embalmed-the man who went about in that carriage would not stop moving on any account. His comings and goings were evidence, to me, that the world had not come to an end, the Apocalypse had not occurred-the hoofbeats of his team on Comstock’s carriageway were like the faint pulse in a patient’s neck, which tells the Physician that the Patient still lives…”

“Who is that madman, coming and going in the midst of the Plague,” Daniel asked, “and why does John Comstock let him into his house? The poxy bastard’ll infect us all.”

“John Comstock could not exclude that fellow any more than he could ban air from his lungs,” Wilkins said. “That is his money-scrivener.”

Mr. Threader was getting teary-eyed now, though it was a toss-up whether this was because of Daniel’s mawkish Narration, or because at long last he understood the nature of Daniel’s feeble connection to the Silver Comstocks. Daniel brought the anecdote to a swift merciful conclusion: “Unless my memory is having me off, the same arms are painted on the door of the vehicle in which we are now sitting.”

“Dr. Waterhouse, I’ll not sit still while you disparage your faculty of recollection any more, for truly, you have the memory of an elephant, sir, and it is no wonder to me that you were gathered in by the Royal Society at a tender age! Your account is without flaw; my late father, may God have mercy on his soul, had the honor of being of service to the Earl of Epsom, just as you said, and my brothers and I, during our apprenticeships, as it were, did accompany him on several of his excursions to Epsom.”

HE HAD PROMISED that they would go into London the next day, but the matter of the ten thousand changed everything. Mr. Threader was now in the same predicament as a spider who has unexpectedly caught something huge in his web, which is to say, the news was good, but much frantic scurrying around was now demanded of him. So they were detained round Oxford on the 28th and 29th of January. Again, Daniel could have got to London easily but again he resolved to see the journey through with Mr. Threader. So he nipped into Oxford and renewed friendships or, as warranted, hostilities with scholars at the University, while Mr. Threader mended the strands of his local Web, so unused to such exertions.

On the 30th, which was a Saturday, they got a late start. Daniel first had to find a hackney-carriage to take him from Oxford back out to Woodstock. There was a lot of blundering about in the woods there trying to rendezvous with Mr. Threader’s train. When he spied it, drawn up before a cottage on the edge of the wood, he saw that he was too early after all, as the horses were all in their feed-bags. He had the hackney-driver unload his trunks on the spot, so that Mr. Threader’s men could get them packed on the right cart. But Daniel himself remained in the hackney-coach, and asked the driver to continue a mile down the road and drop him off, so that he could enjoy a stroll back through the woods. If they were going to attempt to make it all the way to London today, this would be his last opportunity to stretch his legs.

The woods were pleasant enough. Spring was trying to come early. Even though branches were bare, holly and ivy provided some greenery. But the road was a slough, with puddles that would have challenged an albatross. It seemed to be cutting round the base of a rise situate between him and the cottage, and so Daniel angled away from it first chance he got, taking what looked like a game trail up onto higher and firmer ground. Reaching the top of the rise he was faintly disappointed to discover the cottage just where he had expected to find it. Decades had passed since he had enjoyed the thrill of getting lost. So down he went, and approached the little compound from its back side, and thereby saw something through a window.

The three wooden chests from Mr. Threader’s baggage cart had been brought in and unlocked. They contained scales-exquisite scales made out of gold, so that cycles of tarnishing and polishing would not, over the years, throw off their balance. In front of each scale sat one of Mr. Threader’s assistants, weighing golden coins, one at a time. Another assistant was counting the coins out of a chest and distributing them, as needed, to the weighers, who stacked the weighed coins one at a time on embroidered green felt cloths that they had unrolled on the tabletop. Each weigher was maintaining three stacks of coins; the stack in the middle tended to be higher than the other two. When a stack grew precarious it would be carried off, counted, and deposited in one of Mr. Threader’s strong-boxes. Or that was the general impression Daniel collected peering through bubbly ancient window-panes with sixty-seven-year-old eyes.

Then he remembered the warning that Will had spoken to him at the Saracen’s Head. He knew instantly that, even though he had come this way with intentions wholly innocent, and stumbled upon this scene by chance, it would never be viewed that way. He began to feel actual guilt-pangs even though he was blameless. This was a miraculous prodigy of self-shaming that was taught to young Puritans by their elders, as Gypsies taught their children to swallow fire. He skulked back into the forest like a poacher who has stumbled upon the gamekeeper’s camp, and worked his way round to the road, and approached the carts from that side, just as the scales and strong-boxes were being loaded onto the carts for transport.

They began to work their way down the gantlet of thriving river ports that crowded the brinks of the Thames. It was market-day in several of the towns they passed through, which impeded their progress, and at the end of the day they had got no farther than Windsor. This suited Mr. Threader, who perceived opportunities for conversation and profit in that district, so lousy with Viscounts, Earls, amp;c. Daniel was of a mind to stroll up the road to the nearby town of Slough, which was full of inns, including one or two newish-looking ones where he thought he could find decent lodgings. Mr. Threader deemed the plan insane, and watched Daniel set out on the journey with extreme trepidation, and not before Daniel had, in the presence of several witnesses, released Mr. Threader from liability. But Daniel had scarcely got himself into a good walking-rhythm before he was recognized and hailed by a local petty noble who was a Fellow of the Royal Society, and who insisted that Daniel accompany him to his house near Eton and stay the night in his guest bedchamber. Daniel accepted gladly-to the fascination of Mr. Threader, who saw it play out in the carriageway, and found it extremely singular, verging on suspicious, that a chap such as Daniel should be thus recognized and plucked out of the crowd simply because of what went on in his brain.

The next day, Sunday, January 31st, 1714, Daniel did not get breakfast, because none was served. His host had given his kitchen staff the day off. Instead he was hustled off to a splendid church between Windsor and London. It was exactly the sort of church that Drake would have set fire to with extreme prejudice during the Civil War. As a matter of fact, the longer Daniel looked at it, the more certain he became that Drake had torched it, and that Daniel had watched. No matter; as Mr. Threader would say, that was in the past. The church was vaulted with a fair new roof now. Daniel’s bum, and the bums of the noble and gentle congregants, were kept up off the stony floor by most excellent carven pews, which were rented out to the occupants at annual rates that Daniel did not dare to even think about.

This seemed like the sort of High-Flyer church where the minister would wear glorious raiments. And maybe it was. But not today. He trudged up the aisle in burlap, his head hung low, pallid knuckles locked together below his chin, dolorous musick wheezing out of the organ, played upon reed stops that mocked the rumblings of the parishioners’ empty stomachs.

’Twas a scene of pre-Norman gloom. Daniel half expected to see Vikings crash through the stained glass windows and begin raping the ladies. He was quite certain that Queen Anne must have suffered another Setback, or the French unloaded a hundred regiments of Irishmen in the Thames Estuary. But when they had got through the obligatory stuff in the beginning of the service, and the Minister finally had an opportunity to stand up and share what was on his mind, it turned out that all of this fasting, humiliation, and wearing of rough garments was to bewail an event that Daniel had personally witnessed, from a convenient perch on his father’s shoulders, sixty-five years earlier.

“THOSE PEOPLE MIGHT AS WELL have been Hindoos to me!” he shouted as he was diving into Mr. Threader’s carriage three hours later-scant moments after the Recessional dirge had expired.

Then he looked at Mr. Threader, expecting to see the man’s periwig turned into a nimbus of crackling flames, and his spectacle-frames dripping, molten, from his ears, for Daniel’s humours got sorely out of balance when he was not fed, and he was quite certain that fire must be vomiting from his mouth, and sparks flying from his eyes. But Mr. Threader merely blinked in wonderment. Then his white eyebrows, which were not on fire at all, went up, which was what Mr. Threader did when overtaken by the urge to smile.

Daniel knew that Mr. Threader was feeling that urge for the following reason: that now, in the final hours of their two-week trek, starvation and a High Church sermon had succeeded where Mr. Threader had failed: the real Daniel Waterhouse had been unmasked.

“I see no Hindoos, Dr. Waterhouse, only a flock of good English parishioners, emerging not from a heathen temple but from a church-the Established Church of this Realm, in case you were misinformed.”

“Do you know what they were doing?”

“That I do, sir, for I was in the church too, though I must admit, in a less expensive pew…”

“ ‘Expiating the horrid Sin committed in the execrable Murder of the Royal Martyr! Remembrancing his rank Butchery at the Hands of the Mobb!’ ”

“This confirms that we did attend the same service.”

“I was there,” Daniel said-referring to the rank Butchery-“and to me it looked like a perfectly regular and well-ordered proceeding.” He had, by this time, had a few moments to compose himself, and did not feel that he was spewing flames any more. He uttered this last in a very mild conversational tone. Yet it affected Mr. Threader far more strongly than anything Daniel could have screamed or shouted at him. The conversation stopped as dramatically as it had begun. Little was said for an hour, and then another, as the carriage, and the train of wagons bringing up the rear, found its way along town streets to the Oxford Road, and turned towards the City, and made its way eastwards across a green, pond-scattered landscape. Mr. Threader, who was facing forward, stared out a side window and looked alarmed, then pensive, then sad. Daniel recognized this train of emotions all too well; it was a treatment meted out by evangelicals to Damnable Sinners. The sadness would soon give way to determination. Then Daniel could expect a fiery last-ditch conversion attempt.

Daniel was facing backwards, watching the road pass under the wheels of the baggage-cart. On that cart, he knew, was Mr. Threader’s strangely over-organized collection of strong-boxes. This put him in mind of a much-needed change of subject.

“Mr. Threader. How shall I compensate you?”

“Mm-Dr. Waterhouse? What?”

“You have not only transported me but boarded me, entertained me, and edified me, for two weeks, and I owe you money.”

“No. Not at all, actually. I am a very particular man, Mr. Waterhouse, in my dealings. Had I desired compensation, I’d have said as much before we set out from Tavistock, and I’d have held you to it. As I did not do so then I cannot accept a penny from you now.”

“I had in mind more than a penny-”

“Dr. Waterhouse, you have made a lengthy journey-an unimaginable journey, to me-and are far from home, it would be a sin to accept so much as a farthing from your purse.”

“My purse need not enter into it, Mr. Threader. I have not undertaken this journey without backing. My banker in the City will not hesitate to advance you an equitable sum, on the credit of the Person who has underwritten my travels.”

Now Mr. Threader was, at least, interested; he stopped looking out the window, and turned his attention to Daniel. “I’ll not take anyone’s money-yours, your banker’s, or your backer’s, sir. And I’ll not ask who your backer is, for it has gradually become obvious to me that your errand is-like a bat-dark, furtive, and delicate. But if you would be so good as to indulge my professional curiosity on one small matter, I should consider your account paid in full.”

“Name it.”

“Who is your banker?”

“Living as I do in Boston, I have no need of a bank in London-but I am fortunate enough to have a family connexion in that business, whom I can call upon as the occasion demands: my nephew, Mr. William Ham.”

“Mr. William Ham! Of Ham Brothers! The money-goldsmiths who went bankrupt!”

“You are thinking of his father. William was only a boy then.” Daniel began to explain young William’s career at the Bank of England but he bated, seeing a glassy look on Mr. Threader’s face.

“The money-goldsmiths!” Mr. Threader reiterated, “The money-goldsmiths.” Something in his tone put Daniel in mind of Hooke identifying a parasite under a microscope. “Well, you see then, it’s of no account anyway, Dr. Waterhouse, as I do not think that Mr. Ham’s money would have any utility for me.”

Daniel understood now that Mr. Threader had set a trap by asking for the name of his banker. Saying to Mr. Threader, a money-scrivener, My banker is a money-goldsmith, was like mentioning to an Archbishop I attend church in a barn: proof that he belonged to the Enemy. The trap had sprung on him now; and, whether by design or no, it happened at the moment they trundled through Tyburn Cross, where limbs of freshly quartered criminals were spiked to the scaffold, festooned with unraveled bowels. Mr. Threader proclaimed, “Coiners!” with the finality of a Norn.

“They’re drawing and quartering people for that now?”

“Sir Isaac is determined to root them out. He has brought the judicial Powers round to his view, which is that counterfeiting is not just a petty crime-it is high treason! High treason, Dr. Waterhouse. And every coiner that Sir Isaac catches, ends up thusly, torn by flies and ravens at Tyburn Cross.”

Then, as if it were the most natural Transition imaginable, Mr. Threader-who had leaned far forward and screwed his head around to contemplate, at greater length, the festering shreds of Sir Isaac’s latest kills-fell back into his repose with a contented sigh, and fastened the same sort of look on the tip of Daniel’s nose. “You were there when Charles the First was decapitated?”

“That is what I told you, Mr. Threader. And I was startled, to say the least, to enter a church three score and five years later, and be confronted with evidence that these High Church folk have not yet recovered from the event. Do you have any idea, Mr. Threader, how many Englishmen perished in the Civil War? In accordance with our norms, I shall not even mention Irishmen.”

“No, I’ve no idea…”

“Precisely! And so to make such a bother about one chap seems as bizarre, idolatrous, fetishistic, and beside the point to me, as Hindoos venerating Cows.”

“He lived in the neighborhood,” said Mr. Threader, meaning Windsor.

“A local connexion that was not even mentioned in the homily-not, I say, in the first, the second, or the third hour of it. Rather, I heard much talk that sounded to me like politics.”

“To you. Yes. But to me, Dr. Waterhouse, it sounded like church. Whereas, if we were to go there-” and Mr. Threader pointed at a barn in a field to the north side of Tyburn Road, surrounded by carriages, and emanating four-part harmony; i.e., a Meeting-House of some Gathered Church “-we would hear much that would sound like church to you, and politics to me.”

“To me it would sound like common sense,” Daniel demurred, “and I hope that in time you would come round to the same opinion-which would be an impossibility for me, in there-” Fortuitously, they had just crossed over some important new street that had not existed, or had been just a cow-path, in Daniel’s day; but never mind, as looking north he saw Oxford Chapel just where it had always been, and so he was able to thrust his finger at an Anglican church-steeple, which was all he wanted to illustrate his point. “-in that there is no sense to it whatever, only mindless ritual!”

“It is naturally the case that Mysteries of Faith do not lend themselves to commonsensical explanation.”

“You, sir, might as well be a Catholic, if that is what you believe.”

“And you, sir, might as well be an Atheist-unless, like so many of the Royal Society, you have, on your way to Atheism, chosen to pause for refreshment at the Spring of Arianism.”

Daniel was fascinated. “Is it widely known-or supposed, I should say-that the Royal Society is a nest of Arianism?”

“Only among those capable of recognizing the obvious, sir.”

“Those capable of recognizing the obvious might conclude from the service you and I have just been subjected to, that this country is ruled by Jacobites-and ruled, I say, thusly from the very top.”

“Your powers of perception put mine to shame, Dr. Waterhouse, if you know the Queen’s mind on this question. The Pretender may be a staunch Catholic, and he may be in France, but he is her brother! And at the end of a poor old lonely woman’s life, to expect that she’ll not be swayed by such considerations is inhumane.”

“Not nearly as inhumane as the welcome her brother would receive if he came to these shores styling himself King. Consider the example just cited, so tediously, in church.”

“Your candor is bracing. Among my circle, one does not allude so freely to Decapitation of Kings by a Mobb.”

“I am glad that you are braced, Mr. Threader. I am merely hungry.”

“To me you seem thirsty-”

“For blood?”

“For royal blood.”

“The blood of the Pretender is not royal, for he is no King, and never will be. I saw his father’s blood, streaming out of his nostrils in a gin-house at Sheerness, and I saw his uncle’s blood being let from his jugulars at Whitehall, and his grandfather’s plashing all round the scaffold at the Banqueting House, sixty-five years ago today, and none of it looked different from the blood of convicts that we put up in jars at the Royal Society. If spilling the Pretender’s blood prevents another Civil War, why spill it.”

“You really should moderate your language, sir. If the Pretender did come to the throne, the words you just spoke would be high treason, and you would be dragged on a sledge to the place we have just put behind us, where you would be half-hanged, drawn, and quartered.”

“I simply find it inconceivable that that man would ever be suffered to reign over England.”

“We call it the United Kingdom now. If you were fresh from New England, Dr. Waterhouse, which is a hot-bed of Dissidents, or if you had been dwelling too long in London, where Whigs and Parliament lord it over ordinary sensible Englishmen, then I should understand why you feel as you do. But during our journey I have showed you England as it is, not as Whigs phant’sy it to be. How can a man of your intelligence not perceive the wealth of this country-the wealth temporal of our commerce and the wealth spiritual of our Church? For I say to you that if you did comprehend that wealth you would certainly be a Tory, possibly even a Jacobite.”

“The spiritual side of the account is balanced, and perhaps o’er-balanced, by the congregations who gather together in Meeting-Houses, where one does not need to sign a lease, to sit on a pew. So we may leave Church-disputes out of the reckoning. Where money is concerned, I shall confess, that the prosperity of the countryside quite overtopped my expectations. But it comes to little when set against the wealth of the City.”

Timing once again favored Daniel, for they were now on Oxford Street. To the carriage’s left side, the Green Lane stretched northwards across open country, threading its way between parks, gardens and farms, darting into little vales and bounding over rises. To the right side it was all built-up: a development that had been only a gleam in Sterling’s* eye twenty years ago: Soho Square. Gesturing first this way, then that, Daniel continued: “For the country draws its revenue from a fixed stock: sheep eating grass. Whereas, the City draws its wealth from foreign trade, which is ever-increasing and, I say, inexhaustible.”

“Oh, Dr. Waterhouse, I am so pleased that Providence has given me the opportunity to set you right on that score, before you got to London and embarrassed yourself by holding views that stopped being true while you were gone. For look, we are come to Tottenham Court Road, the city begins in earnest.” Mr. Threader pounded on the roof and called out the window to the driver, “High Street is impassable for re-paving, jog left and take Great Russell round to High Holborn!”

“On the contrary, Mr. Threader. I know that the Tories have established their own Bank, as a rival and a counterpoise to the Bank of England. But the Bank of England is capitalized with East India shares. The equity of the Tories’ Land Bank is, simply, land. And East India trade grows from year to year. But of land there is a fixed quantity, unless you mean to emulate the Dutch, and manufacture your own.”

“This is where you need to be set to rights, Dr. Waterhouse. The Land Bank is an antiquarian folly, for just the reasons you have set forth. But this in no way signifies that the Bank of England holds a monopoly. On the contrary. With all due respect to the busy, but misguided men of the Juncto, their Bank’s health is as precarious as the Queen’s. The war we have just brought to an end was a Whig war, pressed upon a reluctant Queen by the importunities of a warlike Parliament, led by a Juncto intoxicated by dreams of adventures on foreign soil. They got the money by taxing the people of the country-and I know whereof I speak, for they are my friends!-and they got that money into the coffers of the Duke of Marlborough’s army by means of loans, brokered in the City, at great personal profit, by Whig bankers and money-goldsmiths. Oh, it was very lucrative for a time, Mr. Waterhouse, and if you were to believe the representations made by my lord Ravenscar, why, you might be forgiven for thinking it was all profitable to the Bank of England. There is his house, by the way,” Mr. Threader remarked, as he peered at a spreading Barock pile on the north side of Great Russell Street. “Unspeakably vulgar, quintessentially nouveau…”

“I was the architect,” Daniel said mildly.

“Of the first bit,” said Mr. Threader after only a moment’s break, “which was admirable, a jewel-box. Pity what has been inflicted on it since you left. You know both the Golden, and the Silver, Comstocks. Fascinating! Ravenscar is no longer in a position to afford the best, and so, as you can plainly see, he makes up in ostentation and volume what he cannot have in taste and quality. His mistress seems to find it pleasing.”

“Oh.”

“You do know who my lord Ravenscar’s mistress is?”

“I’ve no idea, Mr. Threader; when I knew him, he had a different whore every week, and sometimes three at once. Who is his whore presently?”

“The niece of Sir Isaac Newton.”

Daniel could not bear this and so he said the first thing that came into his head: “That is where we used to live.”

He nodded southwards across Waterhouse Square, and slipped far down in his seat so that he could get a look at the house that brother Raleigh had built on the rubble of the one where Drake had been blown up. This change of position brought him knee-to-knee with Mr. Threader, who seemed to know the story of Drake’s demise, and observed a respectful silence as they circumvented the square. Gazing, from his low-down position, over the skyline of the city, Daniel was shocked by a glimpse of an enormous dome: the new St. Paul’s. Then the carriage rounded a turn onto Holborn and he lost it.

“You were making some comment about banks, earlier?” Daniel inquired, in a desperate bid to purge his mind of the image of Roger Comstock putting his poxy yard into Isaac’s niece.

“It went poorly for the Whigs, very poorly indeed, in the last years of the war!” Mr. Threader answered, grateful to’ve been given the opportunity to recount the misfortunes of the Juncto. “Bankruptcy forced England to do what France could not: sue for peace, without having accomplished the chief goals of the war. No wonder Marlborough fled the country in disgrace, no wonder at all!”

“I cannot believe East India trade will be depressed for very long, though.”

Mr. Threader leaned forward, ready with an answer, but was tripped up by an interruption, of a professional nature, from the driver.

“Dr. Waterhouse, if you would be so good as to specify any destination in greater London, it would be my honor and privilege to convey you to it; but we are approaching Holborn Bridge, the gates and wall of the ancient City are within view, and you must decide now, unless you really want to accompany me all the way to Change Alley.”

“That is very kind of you, Mr. Threader. I shall lodge at the Royal Society to-night.”

“Right, guv’nor!” said the driver, who could overhear conversations when he needed to. He turned his attention to his horses, then, and addressed them in altogether different language.

“Bad luck that that the Royal Society has moved out of Gresham’s College,” Mr. Threader asserted.

“The delicacy of your discourse is a continual wonder to me, sir.” Daniel sighed, for in truth, the Royal Society had been thrown out of that mouldering pile after Hooke-who, for many years, had defended their lease with his usual vicious tenacity-had died in 1703. Without Hooke, they had only been able to delay the eviction. And they had delayed it superbly, but as of four years ago they were in new quarters off Fleet Street. “Those of us who sank our money into the bonds that paid for the new building, might employ stronger language than ‘bad luck.’ ”

“It is apropos, sir, that you should bring up the topic of investments. I had been about to mention that, should we have taken you to Gresham’s College, we should have passed by the front of a new edifice, at Threadneedle and Bishopsgate, that might fairly be called a new Wonder of the World.”

“What-your offices, Mr. Threader?”

Mr. Threader chuckled politely. Then he got a distracted look, for the carriage had slowed down, and tilted slightly, depressing him and elevating Daniel. They were climbing a gentle grade. Mr. Threader’s gaze bounced from the left window to the right, and stuck there, fixed on the sight of St. Andrew’s church-yard, a huddled mob of gray head-stones fading into the twilight of the absurdly truncated mid-winter day. Daniel, who even in daylight would have been at some difficulty to keep track of where they were in this new London, realized that they were still rattling eastwards down High Holborn; they had missed several turns, viz. Chancery Lane and Fetter Lane, that would have taken them down toward Fleet Street. As St. Andrew’s fell away aft, they missed yet another: Shoe Lane. They were climbing the approaches to the bridge where Holborn, like a country gentleman stepping over a turd-pile, crossed the Fleet Ditch.

Mr. Threader rapped on the roof. “The Royal Society is no longer at Gresham’s College!” he explained to the driver. “They have moved to a court off of Fleet Street-”

“Crane Court,” Daniel said. “Near Fetter Lane, or so I am informed.”

The driver now murmured something, as if he were ashamed to speak it aloud.

“Would you be offended, affrighted, sickened, or in any wise put out, if we were to go down the Fleet?”

“As long as we do not attempt it in a boat, Mr. Threader.”

Mr. Threader put the tips of his fingers to his mouth, lest the mere suggestion should cause him to throw up. Meanwhile with his other hand he made a coded rap on the ceiling. The driver immediately guided his team toward the right edge of the street. “The brink of our Cloaca Maxima has been shored up since you last, er-”

“Made a Deposit into a Vault?”

“As it were, Dr. Waterhouse. And it is still early enough that the nocturnal traffic shall not have built to the pitch of activity one would so desperately wish to avoid, later.”

Daniel could not see where they were going, but he could smell it now, and he could feel the carriage swerving away from the foot of the Holborn Bridge, and slowing to negotiate the turn southwards. He leaned forward and looked out the window down the length of the Fleet Ditch, a black and apparently bottomless slot in a long slab of unspeakably stained pavement, running due south to the Thames. The sky above the river shed a flinty twilight on this gap, from which the buildings of the city seemed to draw back in dismay. In defiance of Mr. Threader’s optimistic prediction, an ox-cart, consisting of a giant barrel on wheels, had backed up to the edge of the ditch and opened a large orifice in its rear to spew a chunky brown cataract into this, the least favored tributary of the Thames. The sounds coming up from the depths below, indicated that it was striking something other than clear running water. Making a quick scan of the length of the Ditch between them and the Fleet Bridge, about a quarter of a mile downstream-if “downstream” had any meaning here-Daniel saw two other such carts doing the same thing, or getting ready to. Other than the usual crew of idlers, vagrants, thieves, shake-rags, and disgraced preachers selling instant weddings, there was no traffic, other than a single sedan-chair, which was just emerging from an alley on the opposite bank of the ditch, and in the act of turning north towards Holborn. As Daniel caught sight of it, it faltered and stopped. The faces of the two men carrying it waxed like a pair of moons as they turned to look at Mr. Threader’s train. Then the carriage in which Daniel was riding executed its turn. The Ditch swung out of Daniel’s view, and was replaced by the first in a various row of cookeries and market-stalls, not all that bad here, close to Holborn, but bound to degenerate rapidly as they moved on. Daniel turned his head the other way to look out at the Ditch. A slablike wall rose from the opposite bank, ventilated by a few windows barred with heavy grids: the front of the Fleet Prison. His view was then blocked by the nostrils of an ox towing a vault-wagon. A whiff came in the window that paralyzed him for a few moments.

“Deposits must be down to-day, and vaults empty, as so many are fasting in remembrance of the Royal Martyr,” Daniel observed sourly, for he could tell that Mr. Threader wanted to continue talking about Financial Institutions.

“If I were coming to London a-fresh, Dr. Waterhouse, and wished to align my personal interests with a bank, I should pass the Bank of England by-pass it right by, I say! For your own sake! And keep right on going.”

“To the Royal Exchange, you mean…one or two doors down, on the opposite side…”

“No, no, no.”

“Ah, you are speaking of Change Alley, where the stock-jobbers swarm.”

“That is off Cornhill. Therefore, in a strictly cartographic sense, you are getting colder. But in another, you are getting warmer.”

“You are trying to interest me in some security that is traded in Change Alley. But it issues from an Eighth Wonder of the World that is on Threadneedle, near Gresham’s College. It is a most imposing riddle, Mr. Threader, and I am ill-equipped to answer it, as I’ve not frequented that busy, busy neighborhood for twenty years.”

Daniel now leaned to one side, planting his elbow on an arm-rest and supporting his chin on his hand. He did so, not because he was tired and weak from hunger (though he was), but so that he could see round Mr. Threader’s head out the rear window of the carriage. For he had glimpsed a peculiar apparition overtaking them. A rustic person would have guessed it to be a coffin levitating through the air. And considering the number of corpses that had been disposed of in Fleet Ditch over the centuries, there was no better place in London for a haunting. But Daniel knew it was a sedan chair, probably the same one that had emerged, a few moments ago, from the alley across the way. Looking across the Ditch Daniel could see directly into that alley, or one like it, and it seemed to him like the vertical equivalent of the Fleet Ditch itself, a black slot filled with who knew what sort of vileness. What had a sedan chair been doing in such a place? Perhaps taking a gentleman to an unspeakably perverse tryst. At any rate it was now gaining ground on them, coming up along one side. It got close enough that Daniel could sit up straight and view it directly out the carriage’s side window. The windows of the sedan chair-assuming it had windows-were screened with black stuff, like a confession-booth in a Papist church, and so Daniel could not see into it. He could not even be certain that anyone was inside, though the ponderous jouncing of the box on its poles, and the obvious strain on the two massive blokes who were carrying it, suggested that something was in there.

But after several moments these porters seemed to hear some command from inside the box, and then they gratefully slackened their pace and allowed Mr. Threader’s carriage to pull away from them.

Mr. Threader, meanwhile, had resorted to complicated hand-gestures, and was staring at a distant point above Daniel’s head.

“Proceed to the fork in the road, there, where Pig Street leads away from Threadneedle. Whether you go right, toward Bishopsgate, or left up Pig toward Gresham’s College, you will in a few moments come to the offices of the South Sea Company, which, though it is only three years old, already spans the interval between those two ways.”

“And what do you propose I should do there?”

“Invest! Open an account! Align your interests!”

“Is it just another Tory land bank?”

“Oh, on the contrary! You are not the only one to perceive the wisdom of investing in the future increase of foreign trade!”

“The South Sea Company, then, has such interests…where? South America?”

“In its original conception, yes. But, as of a few months ago, its true wealth lies in Africa.”

“Africa! That is very strange. It puts me in mind of the Duke of York’s Africa Company, fifty years ago, before London burned.”

“Think of it as the Royal Africa Company, risen from the ashes. Just as the capital stock of the Bank of England is the East India Company, that of the South Sea Company is the Asiento.”

“Even I know that this word Asiento is linked somehow to the Peace, but I’ve been terribly distracted-”

“We could not win the war-could not dislodge the grandson of Louis XIV from the Throne of Spain-but we did extract certain concessions from him. One of which was the entire right of shipping slaves from Africa to the New World. Mr. Harley, our Lord Treasurer, made arrangements for this Asiento to become an asset, as it were, of the South Sea Company.”

“How splendid.”

“As the commerce of America grows, so the demand for slaves from Africa will grow apace with it, and so there can be no sounder investment than the Asiento, no surer foundation for a bank, for a fortune-”

“Or for a political party,” Daniel said.

Mr. Threader raised his eyebrows. Then they passed by another vault-wagon, forcing them to keep their mouths, and even their eyes, closed for a few moments.

Mr. Threader recovered quicker, and said: “Steam, on the other hand, sir, I would hold in very low esteem, if you’ll indulge me in a spot of word-play.”

“It is lamentably late in this journey, and this conversation, sir, for you to be divulging this to me.”

“Divulging what, Dr. Waterhouse?”

“That you think the Earl of Lostwithiel is launching a mad enterprise, and that you believe your clients should put their money, rather, into the Asiento.”

“I shall put their money where they have directed me to put it. But I cannot help observing, that the nearly limitless coast of Africa is crowded with slaves, driven out from the interior by their more ferocious cousins, and virtually free for the picking. If I wish to pump water from a Cornish tin-mine, Dr. Waterhouse, I need not pay Mr. Newcomen to erect a frightful Engine; now that we have the Asiento, I need only send a ship southwards, and in a few weeks’ time I shall have all the slaves I need, to pump the water out by stepping on tread-mills, or, if I prefer, to suck it out through hollow straws and spit it into the sea.”

“Englishmen are not used to seeing their mines and pastures crowded with Blackamoors toiling under the lash,” Daniel remarked.

“Whereas, steam-engines are a familiar sight!?” asked Mr. Threader triumphantly.

Daniel was overcome with tiredness and hunger, and leaned his head back with a sough, feeling that only a miracle could get him out of this conversation whole. At the same moment, they arrived at the Fleet Bridge. They turned right and began back-tracking westwards, since the driver had over-shot their destination. Daniel, who, as always, had a view out the rear window of the vehicle, was confronted suddenly by the astonishing sight of a colossal stone egg rising up out of the street less than half a mile away, reigning over the low buildings of London like a Khan over a million serfs. This was by a wide margin the largest building Daniel had ever seen, and something about it replenished his energies.

“Nothing about the English landscape is forever fixed. Just as you have probably grown used to the presence of that Dome,” Daniel said, nodding down Fleet to St. Paul’s, and obliging Mr. Threader to turn around and rediscover it, “we might grow accustomed to multitudes of black slaves, or steam-engines, or both. I speculate that the character of England is more constant. And I flatter us by asserting, furthermore, that ingenuity is a more essential element of that character than cruelty. Steam-engines, being a product of the former virtue, are easier to reconcile with the English scene than slavery, which is a product of the latter vice. Accordingly, if I had money to bet, I’d bet it on steam-engines.”

“But slaves work and steam-engines don’t!”

“But slaves can stop working. Steam-engines, once Mr. Newcomen has got them going, can never stop, because unlike slaves, they do not have free will.”

“But how is an ordinary investor to match your level of confidence, Dr. Waterhouse?”

“By looking at that,” Daniel answered, nodding at St. Paul’s, “and noting that it does not fall down. Go and examine its arches, Mr. Threader, and you will see that they are in the shape of parabolas. Sir Christopher Wren made them thus, on the advice of Hooke; for Hooke shewed that it should be so.”

“You have quite wandered away from me. It is an excellent church. I see no connection to steam-engines.”

“Both church-domes and engines are subject to physical laws, which are, in turn, amenable to mathematickal calculations; and we know the laws,” Daniel announced. “It is at least as well-founded as what you do for a living.”

They had come to a halt before the mouse-hole in the north side of Fleet Street that led to Crane Court. The driver maneuvered his team into it, giving directions to the other drivers that the baggage-cart alone should follow; the remainder of the train, consisting by this point of two large carriages and a second baggage-wain, were to remain in Fleet Street, and to get themselves turned around and aimed in the direction of Ludgate.

Getting the horses, their tack, and the carriage to pass through that archway was a bit like funneling a model ship, rigging a-luff, through the neck of a jug. At one point they drew to a full stop and Daniel, glancing out a side-window, found himself within kissing range of a pedestrian-gawky, post-smallpox, perhaps thirty years of age-whose advance down Fleet Street had been barred by all of Mr. Threader’s maneuvers. This fellow, who affected a ratty horse-hair wig, and who carried a smoky lanthorn in one hand and a staff in the other, peered in on them with frank curiosity that Mr. Threader found unseemly. “Go to, go to, sirrah, we are no concern of the Watch!”

The carriage moved forward into the narrow cul-de-sac of Crane Court.

“One of the Royal Society’s new neighbors?” Daniel asked.

“That watchman? No, I should think not!”

“Each inhabitant is supposed to take his turn on the Watch,” Daniel said pedantically, “and so I assumed…”

“That was twenty years ago when the Act was passed,” Mr. Threader returned, sorrowful over Daniel’s naivete. “It has become the practice for householders to pool a bit of money and pay some fellow-usually some caitiff from Southwark-to do the chore in their stead. As you encountered him this evening, so shall you every evening, unless you have the good fortune to pass by while he is in Pub.”

Still they were making their way, tentatively, down Crane Court. Once they had squeezed through the entrance, it had broadened slightly, to the point where two oncoming carriages might scrape past each other.

“I rather thought we should be leaving you off at the home of some distinguished Fellow,” said the bemused Mr. Threader. “I say, you’re not on the outs with them, are you?” he jested, trying to terminate their journey on a jolly note.

I shall be soon enough. “I have several invitations in my pocket, and mean to spend them methodically-”

“Like a miser with his coins!” said Mr. Threader, still trying to haul Daniel up to the level of joviality that he considered suitable upon parting; perhaps this meant he wanted to see Daniel again.

“Or a soldier with his pouch of balls,” Daniel returned.

“You may add one more!”

“I beg your pardon?”

“Invitation! You must come and lodge with me for a few days, Dr. Waterhouse; I shall take it as an affront if you do not.”

Before Daniel could think of a polite way to beg off, the carriage came to a stop, and at the same moment the door was pulled open by a fellow Daniel assumed was a porter, albeit over-dressed for the job in his Sunday church-going togs. He was not a porter of the gorilla type, but rather tall, of reasonably normal proportions, perhaps forty-five years old, clean-shaven, almost gentlemanly.

“It is I,” Daniel volunteered, as this man could not seem to decide which of the two passengers was the honored guest.

“Welcome to Crane Court, Dr. Waterhouse,” said the porter, sincerely but coolly, speaking in a French accent. “I am Henry Arlanc, at your service.”

“A Huguenot,” muttered Mr. Threader as Henry Arlanc helped Daniel down onto the pavement.

Daniel glanced at the front of the house that formed the end of the court, but it looked just like the engravings, which was to say, very plain and simple. He turned to look back towards Fleet Street. His view was blocked by the baggage-cart, which had taken longer to negotiate the entrance, and was still fifty feet away, lumbering towards them. “Merci,” said Mr. Threader as Arlanc helped him out.

Daniel moved over to one side so that he could peer between the baggage-cart and the line of house-fronts running down to Fleet. His night vision was not what it had once been, but he thought he could see the glimmer of the inquisitive watchman’s lanthorn limning the arch, perhaps three hundred feet away. He was bothering someone else now, someone in a sedan chair.

The luggage wagon suddenly got much larger, as if a giant bladder had been inflated to fill the entire width of the court. Daniel had scarcely registered that impression, when it became a source of light. Then it seemed a radiant yellow fist was punching at Daniel through a curtain of iron-colored smoke. The punch was pulled long before it reached him, and collapsed and paled into an ashy cloud. But he had felt its heat on his face, and things had flown out of it and struck him. Crane Court was now enlivened by the music of f?ry-bells as golden coins sought out resting-places on the paving-stones, and fell in twirling parabolas onto the roof-tiles. Some of them must have been flung straight up in the air for great distances because they continued to land hard and to bounce high for several seconds after Daniel had found his own resting-place: on his arse in the street. The court had been blocked off by a wall of smoke which now advanced to surround him; he could not see his own feet. But he could smell the smoke; it was sulfurous, unmistakenly the product of the combustion of gunpowder. Mixed in with that was a sharper chymical scent that Daniel probably could have identified if he had sniffed it in a laboratory; as it was, he had distractions.

People were calling names, including his. “I am all right,” Daniel announced, but it sounded as if his fingers were in his ears. He got to his feet, spry as a twenty-year-old, and began working his way down the court in the direction of Fleet Street. The air was clearer nearer the ground, and he ended up walking bent nearly double, tracking his progress by the passage of sprayed coins and other detritus under his feet. There was a kind of snow fluttering through the smoke as well: raccoon fur.

“Watchman!” Daniel shouted, “can you hear me?”

“Yes, sir! The Marching Watch has been sent for!”

“I do not care about the Marching Watch, they are too late! I want that you should follow that sedan chair, and tell me where it goes!”

No answer came back.

Mr. Threader’s voice came out of the smoke, just a few yards away. “Watchman, follow that sedan chair and I shall give you a guinea!”

“Right you are, sir!” returned the watchman.

“…or a guinea’s equivalent value in other goods or services, at my discretion, provided that timely and useful information, which would not have been obtainable through other means, is brought to me, and me alone; and note that nothing in this offer shall be construed to create a condition of employment between you and me, particularly where assumption of liabilities, criminal or civil, is concerned. Did you hear all of that, Dr. Waterhouse?”

“Yes, Mr. Threader.”

“It is so witnessed this thirty-first day of January, Year of our Lord 1714.” Mr. Threader muttered very rapidly.

In the next breath, he began finally to answer the hails of his assistants, who had come running up from Fleet Street and were now tramping blindly through the smoke all round, hardly less dangerous than the terrified horses. Having found Mr. Threader and Daniel by nearly running them down, they began asking, repeatedly and redundantly, whether they were all right; which soon became annoying to Daniel, who suspected that they were only doing it to be noticed. He told them to instead go and find the driver of the baggage-cart, who had been airborne when Daniel had lost sight of him.

The smoke was finally beginning to clear; it seemed to be draining, rather than rising, from the court. Mr. Threader approached. “Did anything strike you, Dr. Waterhouse?”

“Not very hard.” For the first time it occurred to him to brush himself off. Wood-shards and raccoon-tufts showered from the folds of his clothing. His finger caught the edge of a coin, which had been made rough as a saw-blade by the violence of its recent career, and this fluttered to the ground and hit with a tinny slap. Daniel bent to examine it. It was not a coin at all. It was a miniature gear. He picked it up. All round him, Mr. Threader’s assistants were in similar postures, snatching guineas off the ashlars like a crew of gleaners. The driver of the baggage-cart was face down, moaning like a drunk as he was tended to by Henry Arlanc and a woman, possibly Arlanc’s wife. Someone had had the presence of mind to draw the other baggage-cart across the entrance of Crane Court so that the Marching Watch-when and if they arrived-would not simply march in watching for stray coins.

“At the risk of being one of those bores who will only venture to state facts after they have become perfectly obvious to all,” said Mr. Threader, “I guess that my baggage-cart has just been Blown Up.”

Daniel flipped the gear over in his palm several times, then put it in his pocket. “Without a doubt, your hypothesis passes the test that we call, Ockham’s Razor.”

Mr. Threader was strangely merry. For that matter, even Daniel, who had been in a sour mood all day from fasting, was feeling a bit giddy. He saw Henry Arlanc approaching, wiping traces of blood from his hands, his face blackened. “Mr. Arlanc, if you are all right, would you be so good as to fetch a broom, and sweep my things in-doors?”

This actually produced a guffaw from Mr. Threader. “Dr. Waterhouse! If I may speak frankly, I had been concerned that your coonskins would leave you open to ridicule from London’s a la mode. But in the end, the Garment in Question was not even suffered to pass the city gates.”

“It must have been done by someone very young,” Daniel guessed.

“Why do you suppose so, sir?”

“I have never seen you happier, Mr. Threader! Only a fellow who had lived through very little would imagine that a gentleman of your age and experience would find this sort of thing impressive.”

This hammered a bung into Mr. Threader’s barrel of chuckles, and straightened him right up for several moments. In time he worked his way back to merry, but only after perilous detours through confused, astonished, and outraged. “I was about to make a similar remark directed at you!” He was less shocked by the explosion than by Daniel’s imputation that it had anything to do with him. Another cycle of bewilderment and stifled anger swirled round his face. Daniel observed with some fascination; Mr. Threader had facial features after all, plenty of them.

In the end, all Mr. Threader could do was laugh. “I was going to express my outrage, Dr. Waterhouse, that you imagined this had anything to do with me; but I bated. I cannot throw stones, since I have been guilty, mutatis mutandis, of the identical sin.”

“You thought it was for me!? But no one knew I was coming,” Daniel said. But he said it weakly, for he had just remembered the pirates in Cape Cod Bay, and how Edward Teach, literally smouldering on the poop deck of Queen Anne’s Revenge, had asked for him by name.

“No one, save the entire crew of the ship that put you ashore at Plymouth-for she must have reached London by now.”

“But no one knew how I was coming to London.”

“No one, save the Court of Directors, and most of the Investors, of the Proprietors of the Engine for Raising Water by Fire! Not to mention your Backer.” Mr. Threader then got a bright look on his face and said, “Perhaps they were not trying to affright you, but simply to kill you!”

“Or you,” Daniel returned.

“Are you a wagering man, Dr. Waterhouse?”

“I was brought up to loathe it. But my return to London is proof that I am a fallen man.”

“Ten guineas.”

“On the identity of the intended victim?”

“Just so. What say you, Dr. Waterhouse?”

“As my life is already staked, ’twere false ?conomy to quibble over ten guineas. Done.”