The Coffee Trader

Miguel runs into Daniel and Parido, who say they have been looking for him. Daniel references Miguel’s correspondence with “that heretic, Alferonda” (83), but Parido assures Miguel that he is not here to discuss Miguel’s association with Alferonda. Miguel doubts Parido’s friendly overtures due to the longstanding tension between them.

The falling out occurred two years ago, when Miguel was engaged to Parido’s daughter Antonia. Miguel was caught in an affair with Antonia’s maid, who later claimed to be pregnant. Parido brought Miguel before the Ma’amad for justice, but the council’s investigators determined that Parido, not Miguel, was the father of the unborn child. However, the maid’s story about her pregnancy was a lie; Miguel had convinced her to persuade the Ma’amad that the baby was Parido’s. Now Miguel is concerned that “if Parido were ever to learn of Miguel’s treachery, he would show no mercy” (87).

Parido tells Miguel that the price of his brandy futures will remain low and advises him to quickly sell them to a French buyer he knows. Just then, Miguel receives a letter from Geertruid urging him to enter into the coffee trade with her. Parido takes Miguel to meet the French buyer, who offers 600 guilders for the brandy futures, more than Miguel had expected. Miguel is torn, as he is suspicious of Parido’s motives. Still, he wants to make a profit, so, recalling Charming Pieter, he makes the trade, because Pieter “never foreclosed an opportunity, and it was better to make a man who intended trickery believe that he had succeeded than to expose him to his face” (93).

In his “Factual and Revealing Memoirs,” Alferonda explains what it means for a Portuguese Jew to be excommunicated: “We were Jews, and the power of the Ma’amad to take away a man’s identity, his sense of self and belonging, was truly terrifying” (94). Alferonda intends to move far away and begin a new life under a new name, but not until he exacts revenge on Parido.

Hannah discovers Miguel’s stash of coffee berries and takes some, thinking they are for eating. By the third berry, the “flavor seemed to her less bitter, even slightly satisfying” (97).

Annetje and Hannah head to the oldest part of the city. Hannah removes her veil and scarf, which she is required by the Ma’amad to wear, and replaces them with a white cap. The women climb to the fourth floor of a building, where a room has been “hollowed out and turned into a holy place” (99). The place is used for Catholic worship. Some time ago Annetje convinced Hannah to attend church with her on a regular basis. Now Hannah wonders if it was a mistake to agree, but she fears that if she refuses to go, Annetje will tell Daniel and the Ma’amad what she has been doing. While she prays, Hannah thinks about her baby, which she believes to be a girl.

On the street after church, Hannah asks Annetje for her scarf and veil, but Annetje laughs and runs away with them. Hannah is terrified that someone will see her, alone on the street and uncovered. She chases Annetje, and suddenly she sees Geertruid talking with two men in front of the Weigh House. The widow looks at Hannah and recognizes her. From her expressions, Hannah can see Geertruid knows she is “on a secret errand—and Hannah, though she could not say how, understood that the widow was on a secret errand of her own” (103).

Geertruid puts her finger to her lips “in a gesture of silence, absolute and unambiguous” (103). Hannah heads back to the church, where she finds Annetje, who gives her back her clothing.

On Monday morning, Miguel makes several bowls of coffee and drinks them before going to the exchange. He sees Alferonda, who tells Miguel that Parido will be manipulating the whale oil market today. He advises Miguel to quickly purchase some whale oil and sell it by day’s end for a profit. Alferonda warns that Parido likely had some scheme in mind when he helped Miguel get rid of the brandy futures. He urges Miguel to “believe no pretended gestures of friendship” (107).

In the whale oil corner of the market, Miguel buys 50 quarters of whale oil then sells it to a Jewish broker named Ricardo. Miguel is elated, believing his luck has finally changed, and calls out a thank you to the Holy One. At that moment, “as though in answer, the idea descended upon him all at once” (110). Miguel figures out a plan that will make his coffee trade a success.

Miguel sees Nunes. Knowing that Nunes has contacts with the Dutch East India Company, Miguel asks him if he would join his business arrangement by importing the coffee berries secretly. Nunes agrees, and the two men shake hands.

Miguel learns that he actually lost money by selling his brandy futures, as the price had risen at the last minute. However, he doesn’t mind, since “in a year’s time he should be one of the richest men among the Portuguese in Amsterdam” (115).

In his “Factual and Revealing Memoirs,” Alferonda describes how he became a moneylender after his excommunication, though he resolved only to lend to Dutchmen “of the most unsavory variety: thieves and bandits, outlaws and renegades” (117). Though Alferonda is not a violent man, he spread rumors implying that he would do physical harm to those who didn’t pay their debts, and “it was not long before the thieves of Amsterdam trembled at my countenance” (117).

Miguel goes to a tavern to meet Geertruid, who is sitting with Hendrick. Before leaving the table, Hendrick whispers to Miguel that an acquaintance of his has asked for Hendrick’s help. Miguel wonders if he is speaking of Parido.

Miguel tells Geertruid his plan for the coffee trade. He will bring in a large shipment of coffee while purchasing large amounts of puts, or guarantees for a set sales price in the future. When the price drops due to the large amount of product, Miguel will profit from his puts.

Next, Miguel will send out agents all across Europe to buy all the available coffee at the low market price. The sales will occur simultaneously, and Miguel will acquire a monopoly on the coffee market.

Geertruid is impressed with his plan, saying, “I am in awe of you” (126). Miguel tells her he will need 3,000 guilders to make this plan occur. Geertruid says she can get it in a few weeks by selling off some of her holdings and then depositing the money in his account at the exchange.

Lying in bed that night, Miguel realizes that he forgot to meet with Joachim that evening as planned, but he feels “only the slightest twinge of regret” (128).

In his “Factual and Revealing Memoirs,” Alferonda admits that he had secrets pertaining to the coffee trade that he refrained from telling Miguel, but not because he wanted Miguel to fail. Rather, “I wanted him to succeed, and I had every reason to believe that this new coffee venture could be just the thing I needed” (131).