Gary's Note: Now for something a little different. David Liss has written a wonderful historical fiction called The Whiskey Rebels. I thought an excerpt would make for some nice reading as you enjoyed a leisurely Friday-after-Thanksgiving. Here Joan Maycott, her husband and their neighbors on the Pennsylvania frontier in late 1789 enjoy dinner together when one of them relates some troubling news. Send all questions and comments to gary@whiskeyandgunpowder.com. Whiskey & Gunpowder
One night we sat with Mr. Richmond and Mr. Dalton, this time joined by Mr. Skye, the five of us enjoying some precious tea and sweet corn bread following a meal. Skye happened to glance over to a little round table next to our rocker upon which sat my copy of Postlethwayt. This interested him at once, and after rising to inspect its edition and condition, he inquired of Andrew what he did with such a book. "'Tis not mine," he said. "In truth, it's too dull for me." "You, madam?" asked Skye. "You have an interest in finance and economical matters?" "I do," I said, feeling myself redden. I was not quite ready to reveal myself to be a budding authoress. ~~~~~~~~~~~~~~Special~~~~~~~~~~~~~~ Closed to New Investors for the Last 6 Years — Now Open Again... In 2002, the same royalty "paycheck program" that paid out $50 for every $1 invested...decided to shut the door to new "members." In 2008, that door is open again...and it just got easier than ever to "make money while you sleep"... But there's no telling when it could close again, so check it out before it's too late… ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ It was fortunate that he spared me a request for further explication. "Then perhaps you have some thoughts upon the latest news, just arrived in a mule train from the East this very day?" His gray eyebrows raised in amusement, or perhaps anticipation. "I spent the afternoon reading through the newspapers, and I cannot credit what I have discovered." "Then tell us," said Andrew. He smiled, clearly pleased to be the one to relate it, yet I could see it troubled him too. "The new treasury minister, Alexander Hamilton, has appointed an immediate assistant, the second most powerful man at the Treasury. With the influence that department is gaining over George Washington and the federal government as a whole, it makes him well near one of the most powerful men in the entire country. Can you guess of whom I speak, for he is known to us all?" Dalton snorted. "We have no idea, so out with it, man." Andrew smiled. "I have no idea, but look at Joan. I think she knows." I had opened my mouth, but I had not yet spoken. It seemed to me Skye had outlined, and I could not, at first, bring myself to say his name out loud. "No," I managed at last. "Not William Duer?" Skye nodded. "How ever did you guess it?" "She didn't guess it," said Andrew. "She merely drew the only logical conclusion. I did not myself, but now I see how she did so. He is, after all, the only man known to us all, and he did speak of his close ties to Hamilton when we met him." Dalton actually snarled in disgust. "It makes me ill to think that a man like Duer, who has made his living by cozening patriots, should be rewarded with such power and influence." ~~~~~~~~~~~~~~Special~~~~~~~~~~~~~~ The Deficit Time Bomb Well, Election Day has come and gone…and our deficits are still there…and growing… Those deficits are going to wreak more havoc on the economy and individual savings than can be properly imagined. We're still offering solutions in our "Personal Bailout Bundle" and it's still exclusive till Dec 21. Don't miss out. Just click here to read more. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ "He shall do well for himself," said Skye. "It seems that his good friend Hamilton has convinced Congress to pay in full the states' debts from the war. All our promissory notes that Duer got in exchange for land are now to be paid at full face value." "He knew!" I cried. "He and Hamilton must have plotted it out all along. They would trick patriots into surrendering their debt, and when they had enough they would get the American people, through their taxes, to pay off that debt, enriching themselves. It is the most monstrous abuse of power imaginable." "That is how things are done in England," said Dalton, "but it is not how they are supposed to happen here." "No, but it is the way of things," said Skye. "It hardly matters what principles are foremost in men's minds. Those men are still men, and they will either be too idealistic to maintain power or too corruptible not to seize it." "You judge human nature too harshly," said Andrew. "For what did we fight if this country is doomed to be no better than the one from which we won our independence?" Dalton regarded him with the greatest seriousness. It seemed his orange whiskers stiffened, like the ears of a cat going back. "You do not submit to a harsh master because the next master may, for all you know, be no better. You fight, and that is what we did. We fought for the chance, lad." "And do we fight now?" I asked, looking up from my needlework. "Is the fighting all done? We fight against England for oppressing us, but when we do it to ourselves, when our own government places men like Hamilton and Duer in a position to destroy the soul of the nation, do we take our ease and do nothing?" "There is nothing to do," said Skye. ~~~~~~~~~~~~~~Special~~~~~~~~~~~~~~ You Can Still Recover… Even in This Market We're offering our loyal readers an exclusive opportunity to get in on the second installment of our Emergency Retirement Recovery webinar, featuring our own Chris Mayer. No fee… No obligation… Just the crucial information you need. Sign up here. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ I was not so certain. I could not think what we might to do to push back against the interests of greed and cruelty that had so clearly gained ground, but that did not mean I could do nothing. I thought of my book once more and considered that perhaps this novel, this first American novel — could I but write it — might be an instrument of change, or at least part of a movement for change, a movement of sincere citizens hoping to keep their government free of corruption. If this news about Duer so troubled me, it would trouble others. All over the country, honest men and women must be looking on with horror as corruption wound its way into the hearts of the political men in Philadelphia. Alexander Hamilton, once Washington's trusted aide, had turned the nation in the direction of British-style corruption. I knew I must find my voice, and soon. Sincerely, Parting Shot: David Liss is the author of A Spectacle of Corruption, The Coffee Trader, and A Conspiracy of Paper, winner of the 2000 Edgar Award for Best First Novel, as well as The Ethical Assassin. Learn more at www.davidliss.com. I had a fantastic time reading The Whiskey Rebels and I'm keeping a copy on the Whiskey Bar. You can get your own copy here. I've received my first batch of correspondence for my first missive. Your responses have been warm and supportive. You have my deep thanks and regards. There were a couple of dissenters, however… "I don't have time to rebut your paper point-by-point, but in summary, I can't see how anyone today can believe that he has a better idea of what the Constitution means than the man who chaired the convention that wrote it. I think history shows that [Washington] did the right thing in putting down the mob." I don't doubt that Washington had a better idea of what the Constitution meant than anyone living today. Like many others who are familiar with that document, he just chose to ignore or re-interpret its intent when it became convenient to do so. The assumption of the war debt by the federal government was going to profit east coast speculators who had bought up that debt. The federal government's promise to pay that nationalized obligation by taxing the improved goods and commoditized money of people struggling on the frontier represented a transfer of the fruits of individual productive activity into the hands of specialized interests via — stop me if you've heard this one — the brute force of the state. This is different from a mugging only in scope, not substance. With Hamilton egging him on Washington rode west to shake down the settlers. As to the second part about putting down the mob… I conditionally concede… Let us recall the old admonition: "Violence begets violence." Let us also recall a pernicious phrase that keeps popping up in the recounts of every armed conflict: "Atrocities were committed on both sides." I don't celebrate the excesses of either group, not even the one with which I side. Make no mistake; the mobs were not uniform in their sentiments or particularly noble in some of their reactions…but they smelled a rat. My sympathies, like my ideals, lean toward the insurrectionists. I'd remind anyone who'd care to listen that the same people putting down this rebellion had started their own insurrection just a couple decades before…something about unfair and undue taxation…sometime in the mid-1770s…the exact details escape me just now… If anyone can remember the name and particulars of that little adventure, drop me a line: gary@whiskeyandgunpowder.com. I'd also remind all you Whiskey Shooters that we're still offering a bit of protection from current government pilferage and inanity. Take a look here to find out more. Regards, |
Whiskey & Gunpowder Special Reports New "Backlash" Set to Rocket Oil Past $150...and Send Gas Soaring to Over $6 per Gallon The 10 Shocking Reasons for China's Pollution Problem Geothermal Energy: Investment in the Future Here's One Coal Stock That's Set to Skyrocket Investing in Exchange Traded Funds The Real Story Behind the True Gold Bull Market If someone forwarded you this copy, please look here to start your own subscription. Wanna let us know what you thought of today's issue? Now you can... click on this link. Whiskey & Gunpowder is a free e-mail service brought to you by a team of rebellious brigands. If you have not already done so, please click here to confirm your subscription. This will help us ensure you get every Whiskey & Gunpowder without interruption. Are you having trouble receiving your Whiskey & Gunpowder? You can ensure its arrival in your mailbox here. Please note: we sent this e-mail to finan4@finanmart.com because you subscribed to this service. To end your Whiskey & Gunpowder e-mail subscription, click here. Nothing in this e-mail should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investment advice.We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication or 72 hours after the mailing of a printed-only publication prior to following an initial recommendation. Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. © 2008 Agora Financial, LLC. All Rights Reserved. Protected by copyright laws of the United States and international treaties. This newsletter may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the World Wide Web), in whole or in part, is strictly prohibited without the express written permission of Agora Financial, LLC. 808 Saint Paul Street, Baltimore MD 21202. |
