Spice & Wolf Read online

  Still—or perhaps because of that—Marheit covered his eyes in worry. Losing that opportunity would be like losing a child.

  This magical trading partner could bring them staggering gains.

  That partner was none other than the King of the Kingdom of Trenni.

  “The greatest gain that can be extracted from trenni silver is securing special privileges from the king. According to our research, the finances of the royal family are in decline. In other words, if this deal succeeds, we’ll have substantial favor with the royal family. Abandoning that...”

  “Abandoning it for my companion makes no sense at all,” said Lawrence.

  “Are you suggesting that they purchase it from us?”

  Lawrence nodded. He had heard of deals on this scale before but had never been involved with one. He had no assurances that it could actually be

  done, but his long experience as a merchant suggested that it could.

  “If it comes down to a choice between destroying the Milone Company or obtaining special privileges from the king, perhaps we could simply have them pay the equivalent value.”

  Lawrence was speaking off the top of his head, but it seemed plausible.

  The idea that you could make money from a depreciating currency by collecting as much of it as possible was predicated on the presupposition that the same Kingdom of Trenni that minted the coins would be willing to buy up the currency.

  They would do so because after recalling the currency, they could melt it down. They would then mint more coins with a lower silver content, resulting in more physical currency. If ten coins became thirteen coins, that meant a gain of three coins.

  This was the best way to increase immediately available funds, but it hurt the nation’s credibility, which would result in a loss over the long term. For the royal family to be willing to do this implied that it was in dire financial straits. What was worse, if they didn’t have enough of the crucial coin, diluting it wouldn’t create the extra funds the nation needed for breathing room.

  The Medio Company was trying to assemble a large amount of trenni silver to exploit this opportunity. Depending on the circumstances, they might attempt to collect all of the trenni silver circulating in the marketplace.

  Then they would go to the king, and say something like “If you will agree to the price we set and give us certain considerations, we will sell you the currency.”

  With a few exceptions, a king was a king only because his fortune or lands were greater than those of other nobility—and because he had garnered the support of the population who did not question his legitimacy. But simply being the monarch did not guarantee perfect control over the lands of the kingdom. The royal family could not simply control assets administered by other nobility.

  Thus, the assets of royalty were not appreciably more significant than those of the various nobles. What made them special were the assorted duties that fell under royal prerogative: authority over mines, mints, tariffs, market administration, and so on. While such authority didn’t bring with it automatic gains, if one knew how to manipulate the authority, it was like shaking money out of a tree.

  In all likelihood, the Medio Company wanted control over one of these domains. Precisely which one was unclear, but if whatever they were planning was successful, they stood to gain a major advantage for their business.

  What Lawrence brought to the Milone Company was a proposal to snatch this opportunity away. They aimed to collect more trenni silver than the Medio Company and negotiate with the king first.

  From the king’s perspective, dealing with two companies competing for the same privileges would be troublesome. Thus, if he were to deal with anyone, it would be with a sole company

  If the Milone Company could conclude the negotiations first, it would be impossible for the Medio Company to secure any privileges.

  Those privileges were entirely unique.

  For the Medio Company’s part, if said privileges were something that could be simply purchased, they would pay any price. The Milone Company was no different, but held by the scruff of the neck as they now were, they would have to be content with moderate compensation.

  “Still...if they play their card, it won’t just destroy this branch—we’ll be burned at the stake. Will they deal with us?”

  Now was the time for nerve. Lawrence leaned forward and murmured, “Surely the king would be troubled to learn that the company with which he was dealing was to be burned as heretics.”

  Marheit gasped at the realization. The Church’s authority surpassed even national borders. Its power was significant even within mighty empires, to say nothing of small kingdoms like Trenni.

  And in any case, the king of Trenni was having financial difficulties. The last thing he would want was trouble with the Church.

  “If we can sign a contract with the king, the Medio Company won’t be able to touch us. Even if they try to turn us over to the Church, the king will not be pleased with the company that brought such trouble down upon him.”

  “I see. Still, they won’t just stay silent. They might just try to bring us down with them.”

  “True.”

  “So in addition to the price for the privileges we’ll hand over, we’ll be demanding your companion.”

  “Yes.”

  Marheit stroked his chin, his face expressing admiration. He looked down at the table. Lawrence knew what Marheit was going to say next. He took a deep breath and gathered his wits in anticipation of his answer. This unique plan could break the deadlock and bring both Lawrence and the

  Milone Company great profit.

  But it had its difficulties.

  If Lawrence couldn’t overcome those difficulties, he would either have to cut Holo loose or be burned alongside her by the Church.

  The former would not happen—not ever.

  Marheit looked up.

  “Hypothetically, it’s a sound strategy. But I’m sure you realize it will be nearly impossible to execute.”

  “You’re talking about how we’ll surpass the Medio Company, yes?”

  Marheit put his hand to his chin and nodded.

  Lawrence was prepared for this. “As far as I can tell, the Medio Company has not yet collected a significant amount of silver.”

  “And your basis for saying so is...?”

  “My basis is that they didn’t immediately turn Holo over to the Church upon capturing her. If they already had enough silver, they would’ve gone directly to the Church in order to destroy us. Instead, they’re trying to prevent us from moving, probably because they’re concerned that in the time it would take for the Church to conclude our trial and sentencing, we would reach an agreement with the king. To put it another way, they think you’ve already collected enough silver to begin negotiations. It shows they have no confidence in their own position.”

  Marheit listened with eyes closed. Lawrence took a breath and continued.

  “Also, I don’t think the Medio Company wants anyone to know they are collecting trenni silver—this helps them take advantage of the king’s weak position. From the standpoint of a nobleman dealing with the king, it shows consideration for the king’s position and their relationship in the future to say that he just happened to have a large amount of silver on hand, no matter how transparent the lie. But to have people like Zheren target traveling merchants and suck us into the deal, I think their aim is to begin by having merchants gather the silver for them, then buy it up at the opportune moment. Even if they suspect Zheren’s motives, if someone’s willing to buy the currency, they’ll be happy to sell. This is all speculation on my part, but I don’t think I’m wrong. If the Medio Company started buying trenni silver in bulk, every company in the area would notice the strange trend in the coin, and we’d be far from their only problem.”

  Marheit nodded slowly. “Given all that, this may be possible,” he murmured reluctantly, his eyes still closed.

  The speculation was plausible, but it was still mere speculat
ion. Perhaps they hadn’t turned in Holo because they didn’t wish to provoke the main branch of the Milone Company.

  For whatever reason, the Medio Company was hesitating.

  Given that hesitation, Lawrence and his partners had no choice but to take advantage.

  “All right, we’ll assume the Medio Company is not prepared to move. Based on that assumption, what action do you suggest, Mr. Lawrence?”

  Lawrence took those words at face value. He couldn’t afford to show any weakness.

  He took a deep breath and spoke. “I will find Holo, rescue her, and we’ll run until the negotiations are finished.”

  Marheit s breath caught. “You can’t be serious.”

  “Escape may be impossible, but we’ll buy you some time. Use it to gather as much silver as you can and conclude the negotiation.”

  “It’s not possible.”

  “So you’re going to turn Holo in, then? I’ll be forced to publicly denounce the Milone Company.”

  It was an unmistakable threat.

  Marheit’s mouth gaped at Lawrence’s near-betrayal, stunned. The fact remained, though, that even if they chose to sacrifice Holo, the Milone Company had a contract with her and Lawrence. If it came to a Church trial, the company had perhaps a four-in-ten chance to be judged blameless, and even then, heavy fines would be levied. It went without saying that Lawrence would testify against the Milone Company Marheit agonized.

  Lawrence took the opportunity to push.

  “With the Milone Company’s help, we should be able to escape for a day or two. She is a wolf spirit, after all. If she sets her strength to escape, none will be able to catch her.”

  Lawrence had no idea if that was true, of course, but it sounded convincing.

  “Mm...hm...”

  “Holo was caught because she acted as a decoy. If we hadn’t had a destination and sought only escape, that would’ve been easy. Might I ask how long your company will need to assemble sufficient coin to command the king’s attention?”

  “...How much time, you say?”

  Though Marheit appeared overwhelmed by Lawrence’s bravado, his mind was racing at the possibilities. His gaze flicked around the room, and it was clear he was deep in thought. Lawrence thought that if he could rescue Holo cleanly and the Milone Company was willing to help, he’d be able to stay on the run for an even two days.

  Pazzio was an old city. There were many buildings, and the roads and alleyways were complex. If one wanted to hide, there were innumerable places to do so.

  Assuming he was running from only the Medio Company, Lawrence believed he could stay hidden.

  Marheit opened his eyes. “If we send a rider to Trenni now, he’ll make it there by sunset if all goes well. Assuming we can commence negotiation immediately, he’ll return here by dawn tomorrow. Longer negotiation will lengthen his stay.”

  “Can you send a rider immediately? You haven’t confirmed the amount of silver you have.”

  “There’s a limit to how much coin we can house, so we can place a rough estimate on how much we’ll be able to collect. As long as we have that much by the day of the actual transaction, we’ll be fine.”

  Even if they negotiated optimistically, there would be no problem as long as the currency was assembled by the day of the settlement.

  The idea was sound enough in theory, but it took a big merchant to actually accomplish such reckless dealing. Additionally, they had to be able to offer enough capital that the king would think he couldn’t afford to depend solely on his own resources. Using a mere approximation of available monies to carry out such negotiations was the height of recklessness, but the very fact that Marheit was proposing the idea lent it credence, Lawrence thought.

  “We wanted to negotiate only after we discovered who was backing the Medio Company, which would reveal their funding. Then we’d be able to both preempt their deal and estimate our own. But we’ve neither time to think nor to look for more information.”

  Though he knew it was impossible, Lawrence worked the problem around in his head and came up with nothing. He sighed as if to voice his powerlessness.

  He had to keep looking ahead. He straightened himself and regarded Marheit.

  “Can you reach a fast settlement with the king?”

  Lawrence would have to run whether or not negotiations were speedy. He was powerless to change the situation but would feel better knowing.

  “If the Milone Company wills it, negotiations will be brief.”

  Lawrence couldn’t help chuckling bitterly, but Marheit certainly sounded reliable.

  He reached out with his right hand. “I imagine you know where Holo is, then?” he asked, as though inquiring about the weather.

  “We are the Milone Company.”

  Lawrence shook Marheit’s hand, glad to have chosen the right company to deal with.

  “Assassination of our employees and arson of our facilities are facts of daily life for us. That’s why we make it a point to know the city better than anyone. We have contingencies for any emergency. Even if a legion of knights should storm the city walls, we’ll survive. But we do have a rival.”

  “The Church?”

  “Indeed. The Church, like us, has a far-reaching presence. Their front-line missionaries are especially like us in this regard, exceeding even our abilities. You’re aware of this, no doubt.”

  “They are ubiquitous and elusive, yes.”

  “Should the Church launch a search in earnest, you must not run before thinking—stay hidden in one place. Of course we hope to have the deal concluded by then. The password will be ‘Pireon, numai.’ ”

  “Two great gold coins, then?”

  “It seemed auspicious. I shall pray for your success.”

  “I understand. Your hopes will be well met.”

  Lawrence shook Marheits hand again, then climbed into the cart. The cart was completely unremarkable, the kind you’d see anywhere, but it had a roof that made it impossible to see who was riding within. This was not, however, to help Holo escape, but rather to deliver Lawrence to Holo. In fact, it was less about delivering Lawrence than it was about hiding his whereabouts.

  Agents of the Milone Company had caught wind of the commotion the previous day and had followed the thugs without knowing at the time what was going on. Just as they’d learned where Holo was being held, they assumed that the Medio Company had people watching them as well. There was no such thing as too much caution.

  Merchants would try to deceive each other just as soon as look at one another—all the more so when they weren’t looking.

  Together with another Milone employee that was riding along, Lawrence dismantled the floorboards of the carriage and looked down at the slowly passing cobblestones.

  “Once I’ve descended, I should touch the right-hand wall and go forward, right?”

  “Your destination is at the end. If all goes well, a hatch will open above you. Should you hear the word ‘racche,’ please wait for the escort to arrive. If you hear ‘peroso,’ though, make your escape with Holo along the planned route immediately.”

  “The good outcome and the bad, eh?” said Lawrence.

  “Easy to understand, isn’t it?”

  Lawrence gave a wry grin and nodded his comprehension. “We’ll be there soon.”

  Immediately after the Milone employee spoke, the horseman on the driver’s seat knocked on the wall. It was the stop signal.

  The carriage braked to the sound of neighing horses as the driver shouted angrily at someone. Lawrence jumped down through the hole left by the missing floorboards and pushed aside a large stone at his feet. Beneath the stone was a dark hole. Lawrence jumped into it immediately and landed on his feet with a splash. Having confirmed their passengers safe drop-off, his companions above slid the stone back into place, returning the passage to total darkness.

  A few moments later, the carriage resumed its advance as though nothing had happened.

  “I’m surprised they’re so prepared,”
said Lawrence, half shocked as he put his hand to the wall on his right and walked slowly forward.

  The tunnel had once been used to carry water, but since water pipes now connected the marketplace, it was no longer used. That’s as much as Lawrence knew about it, but the Milone Company’s knowledge of the system was complete, and they had dug unauthorized extensions to the tunnels to connect various buildings.

  The Church also excelled at such subterfuge. It was said they would use the digging of graves as a pretense to construct secret underground passageways to be used for spying on heretics and evading taxation. The Church was powerful, which meant it had many enemies. Escape routes were always useful.

  Large towns that housed main branches of the Church or companies like Milone were so riddled with passageways that they were scarcely different from fell catacombs where demons lived. It was like making your living on a spider’s web, a merchant had once said to Lawrence.

  Lawrence now understood the terrifying truth of that statement.

  The tunnel was dark and clammy but still better than some of the alleys he’d walked down, which meant it was well-maintained.

  This reassured Lawrence. The Milone Company was powerful.

  “Ah, here it is.”

  Lawrence heard the echoes of his splashing footfalls and realized he’d reached the end. He reached out and soon felt the wall.

  A traveling merchant was used to being attacked by wild dogs on moonless roads. Lawrence was confident that if the worst happened and he had to run down this tunnel, he’d be able to find the wall.

  Above and to the right, there was supposedly the warehouse of a general store with connections to the Medio Company. This was where Holo was being held. Directly above Lawrence was their temporary base of operations, and apparently they’d secretly constructed a path between the two.

  The degree of preparation was chilling, but it might also have been built to facilitate the company’s expansion into other lands, Lawrence reminded himself.

  A distant bell sounded from somewhere. It was the signal to open the marketplace. It was also the signal to begin the plan, so undoubtedly all hell was breaking loose above him. If they couldn’t free Holo in the time between now and the bell that signaled the beginning of work, they would be in real trouble—the general goods merchant would return to his warehouse.