escape all risk. He had plans of his own, involving partnership with the British government itself through the Hopes and Barings of Amsterdam and London; he proposed to draw some five million dollars from Mexico by giving to the United States government drafts on South America in settlement of the Spanish spoliations, besides getting no less than ten million dollars from the United States government for the Floridas.
The unnamed negotiator who came to Armstrong in September, 1805, with Talleyrand's autograph instructions was an agent of Marbois and Ouvrard, whose errand was doubtless known to the Emperor. Meanwhile the Treasury, the Bank, and the "Négociants réunis" supported each other by loans, discounts, and indorsements, largely resting on Spanish bonds, and made face as well as they could against commercial embarrassments and Napoleon's arbitrary calls for great sums of coin; but the Treasury, being in truth the only solvent member of the partnership, must ultimately be responsible for the entire loss whenever matters should come to liquidation.
This was the state of the finances when, Jan. 27, 1806, Napoleon called Marbois and Ouvrard before him. No one charged criminality on any of the parties to the affair. In truth one person alone was to blame, and that person was the Emperor himself; but men who served such masters were always in the wrong,—and in fact Marbois, Ouvrard, Desprez, and Vanlerberghe accepted their fate. Marbois was disgraced;
