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“Hardly necessary, sir, hardly necessary.” Ibelius rose from his seat and brushed plaster dust from his waistjacket. “I shall conceal myself outside, until required. The night air will be invigorating for the actions of the capillaries; it will quite restore the full flush of my balanced humors.”

When he had gone, Locke ran his fingers through his greasy hair and groaned. “Gods, I could do with a bath, but right now I’d take standing in the rain for half an hour. Jean, we need resources to take on Raza. The fucker took forty-five thousand crowns from us; here we sit with ten. I need to kick the Don Salvara game back into life, but I’m deathly afraid it’s in tatters, what with me being out of it for these past few days.”

“I doubt it,” said Jean. “I spent some coin the day before you woke up for a bit of stationery and some ink. I sent a note to the Salvaras by courier, from Graumann, stating that you’d be handling some very delicate business for a few days and might not be around.”

“You did?” Locke stared at him like a man who’d gone to the gallows only to have a pardon and a sack of gold coins handed to him at the last minute. “You did? Gods bless your heart, Jean. I could kiss you, but you’re as covered in muck as I am.”

Locke circled around the room furiously, or as close to furiously as he could manage, still jerking and stumbling as he was. Hiding in this damned hovel, suddenly torn away from the advantages he’d taken for granted for many years-no cellar, no vault full of coins, no Wardrobe, no Masque Box…no gang. Raza had taken everything.

Packed up with the coins from the vault had been a packet of papers and keys, wrapped in oilcloth. Those papers were documents of accounts at Meraggio’s countinghouse for Lukas Fehrwight, Evante Eccari, and all the other false identities the Gentlemen Bastards had planted over the years. There were hundreds of crowns in those accounts, but without the documents, they were beyond mortal reach. In that packet, as well, were the keys to the Bowsprit Suite at the Tumblehome Inn, where extra clothing suitable to Lukas Fehrwight was neatly set out in a cedar-lined closet…locked away behind a clockwork box that no lock-charmer with ten times the skill Locke had ever possessed could tease open.

“Damn,” said Locke. “We can’t get to anything. We need money, and we can get that from the Salvaras, but I can’t go to them like this. I need gentleman’s clothes, rose oil, trifles. Fehrwight has to look like Fehrwight, and I can’t conjure him for ten crowns.”

Indeed, the clothes and accessories he’d worn when dressed as the Vadran merchant had easily come to forty full crowns-not the sort of sum he could simply tease out of pockets on the street. Also, the few tailors that catered to appropriately rarefied tastes had shops like fortresses, in the better parts of the city, where the yellowjackets prowled not in squads but in battalions.

“Son of a bitch,” said Locke, “but I am displeased. It all comes down to clothes. Clothes, clothes, clothes. What a ridiculous thing to be restrained by.”

“You can have the ten crowns, for what it’s worth. We can eat off the silver for a long time.”

“Well,” said Locke, “that’s something.” He heaved himself back down on the sleeping pallet and sat with his chin resting on both of his hands. His eyebrows and his mouth were turned down, in the same expression of aggrieved concentration Jean remembered from their years as boys. After a few minutes, Locke sighed and looked up at Jean.

“If I’m fit to move, I suppose I’ll take seven or eight crowns and go out on the town tomorrow, then.”

“Out on the town? You have a plan?”

“No,” said Locke. “Not even a speck of one. Not the damnedest idea.” He grinned weakly. “But don’t all of my better schemes start like this? I’ll find an opening, somehow…and then I suppose I’ll be rash.”

INTERLUDE

The White Iron Conjurers

It is said in Camorr that the difference between honest and dishonest commerce is that when an honest man or woman of business ruins someone, they don’t have the courtesy to cut their throat to finish the affair.

This is, in some respects, a disservice to the traders, speculators, and money-lenders of Coin-Kisser’s Row, whose exertions over the centuries have helped to draw the Therin city-states (all of them, not merely Camorr) up out of the ashes of the collapse of the Therin Throne and into something resembling energetic prosperity…for certain fortunate segments of the Therin population.

The scale of operations on Coin-Kisser’s Row would set the minds of most small shopkeepers spinning. A merchant might move two stones on a counting-board in Camorr; sealed documents are then dispatched to Lashain, where four galleons crewed by three hundred souls take sail for the far northern port of Emberlain, their holds laden with goods that beggar description. Hundreds of merchant caravans are embarking and arriving across the continent on any given morning, on any given day, all of them underwritten and itemized by well-dressed men and women who weave webs of commerce across thousands of miles while sipping tea in the back rooms of countinghouses.

But there are also bandits, warned to be in places at certain times, to ensure that a caravan flying a certain merchant’s colors will vanish between destinations. There are whispered conversations, recorded in no formal minutes, and money that changes hands with no formal entry in any ledger. There are assassins, and black alchemy, and quiet arrangements made with gangs. There is usury and fraud and insider speculation; there are hundreds of financial practices so clever and so arcane that they do not yet have common names-manipulations of coin and paper that would have Bondsmagi bowing at the waist in recognition of their devious subtlety.

Trade is all of these things, and in Camorr, when one speaks of business practices fair or foul, when one speaks of commerce on the grandest scale, one name leaps to mind above and before all others-the Meraggio.

Giancana Meraggio is the seventh in his line; his family has owned and operated its countinghouse for nearly two and a half centuries. But in a sense the first name isn’t important; it is always simply the Meraggio at Meraggio’s. “The Meraggio” has become an office.

The Meraggio family made its original fortune from the sudden death of the popular Duke Stravoli of Camorr, who died of an ague while on a state visit to Tal Verrar. Nicola Meraggio, trader-captain of a relatively fast brig, outraced all other news of the duke’s death back to Camorr, where she expended every last half-copper at her command to purchase and control the city’s full stock of black mourning crepe. When this was resold at extortionate prices so the state funeral could take place in proper dignity, she sank some of the profits into a small coffeehouse on the canal-side avenue that would eventually be called (thanks largely to her family) Coin-Kisser’s Row.

As though it were an outward manifestation of the family’s ambitions, the building has never remained one size for very long. It expands suddenly at irregular intervals, consuming nearby structures, adding lodges and stories and galleries, spreading its walls like a baby bird slowly pushing its unhatched rivals from the nest.

The early Meraggios made their names as active traders and speculators; they were men and women who loudly proclaimed their ability to squeeze more profit from investors’ funds than any of their rivals could. The third Meraggio of note, Ostavo Meraggio, famously sent out a gaily decorated boat each morning to throw fifty gold tyrins into the deepest part of Camorr Bay; he did this every day without fail for a complete year. “I can do this and still have more fresh profit at the end of any given day than any one of my peers,” he boasted.