Nicholas Hubbard, an Englishman working for a …

Years: 1797 - 1797
October
Nicholas Hubbard, an Englishman working for a Dutch bank used by the Americans (and who will come to be identified as "W" in the published papers), notifies Pinckney on October 17, that Baron Jean-Conrad Hottinguer, whom Hubbard describes only as a man of honor, wishes to meet with him.

Pinckney agrees, and the two men meet the next evening.

Hottinguer (who will later be identified as "X") relays a series of French demands, which include a large loan to the French government and the payment of a fifty thousand pound bribe to Talleyrand.

Pinckney relays these demands to the other commissioners, and Hottinguer repeats them to the entire commission, which curtly refuses the demands, even though it is widely known that diplomats from other nations had paid bribes to deal with Talleyrand.

Hottinguer now introduces the commission to Pierre Bellamy ("Y"), whom he represents as being a member of Talleyrand's inner circle.

Bellamy expounds in detail on Talleyrand's demands, including the expectation that "you must pay a great deal of money."

He even proposes a series of purchases (at inflated prices) of currency as a means by which such money could be clandestinely exchanged.

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