The Coffee Trader, Liss’s second historical novel about early capitalism, is much more about trade than about coffee. It includes a few interesting tales about the introduction of coffee into Europe in the 1600s (is there really a highly prized coffee made from the turds of monkeys that eat coffee beans?) and the side story of a neglected Jewish wife who finds a much-needed personality change in coffee, but it focuses on the trader of the title, Miguel Lienzo, and his machinations in the Amsterdam stock exchange in the 1650s. He stumbles on coffee by chance. Not yet widely known, it is mostly consumed by the small Turkish population of the city. Lienzo believes he has found the lifetime dream of a trader, a commodity on the verge of huge popularity, for he sees coffee as the future drink of commerce, bringing alertness and energy where the ever-present wine of the time dulls the senses and impairs judgement. Amsterdam is a vibrant financial center, and everyone has an eye out for a deal, so Lienzo embarks on a murky scheme to gain control of the European coffee market.
Lienzo is a Jew from Portugal, one of the Conversos who were forced to convert to Catholicism. They practice Judaism in secret, afraid even of other Conversos who could expose them to the Inquisition. Lienzo has learned subterfuge and secret dealings in his hidden life in Portugal, skills which turn out to be highly useful in the burgeoning Amsterdam stock market. Amsterdam became a financial center in the 1600s and was the source of many early capitalist innovations including the joint stock company and the shady world of futures: “a new form of commerce… that of buying and selling what no one owned and, indeed, what no one ever intended to own.” The Amsterdam traders learned to manipulate rumor as adroitly as stocks, and deceit and betrayal became their everyday tools. This corrupting influence of capitalism is the main theme of The Coffee Trader. It is full of details about the alienating life of money traders, who have no natural solidarity with their colleagues and are often driven to a kind of insanity by their love of money unconnected to human labor. While the book provides a rare and vivid view of early capitalism, it is sometimes hard to like, for all its characters are sinking into webs of deception. No one can truly be trusted in this world; even families are broken by betrayals. Lienzo is drawn deeper and deeper into shabby deals, floating of loans, and forgery of documents to keep his scheme afloat. He argues, apparently correctly, that these are the everyday tools of finance capital.
As in Conspiracy of Paper, Liss is at his best writing about the European Jews. Touched by the pervading corruption, the Jewish population of Amsterdam is unsettled and split. It is ruled by the Ma’amad, a dictatorial council that controls the Jewish Nation on points of faith but also, increasingly, on rules of commerce. The Council invokes cherem, ex-communication, on citizens whose main crime seems to be challenging Council members in trade. Lienzo is deeply grateful to be able to practice his religion openly, and wishes to think well of the Council, but becomes increasingly fearful of the Ma’amad when its leading member, Parido, uses the power of the Council to try to thwart Lienzo’s coffee scheme.
Conflicts arising from the oppression of Jews fill this book. Wealthy Jewish traders are fearful of the taint of bitterly poor East European Jews, using the power of the Council to ban charity and commerce with them. The Council forbids Jews from trading on the stock market for Gentiles, yet most Jewish traders must do so to live, forcing them into duplicity and secrecy they hoped to leave behind in free Amsterdam. One of the most interesting characters in the book is Hannah, from a Jewish Converso family in Portugal who feared “the loose tongues of women” and raised her entirely as a Catholic, with no knowledge of Judaism. When the family emigrates to Amsterdam, she is suddenly told she is a Jew and that she must follow Jewish practices to the letter. She now practices Catholicism in secret, a crime to her Jewish husband who has learned little tolerance in his own secret practice of religion. Her slow awakening to a sense of self worth, courtesy of the kick in coffee, is the only story of growth that the book offers.
It is not generally pleasant to watch a character sinking into corruption. The book is somewhat hard to read while Lienzo struggles to keep his coffee scheme afloat, sinking deeper into debt, spending money that isn’t his, and becoming increasingly suspicious of his colleagues. It pulls to a close with a surprisingly exciting duel over coffee prices on the Amsterdam exchange, but, by the time it is over, Lienzo, moderately wealthy from his success, has alienated himself permanently from his brother and looks forward only to further corrupt dealings. While the book is always intriguing in its details about trade and early capitalism, it is not entirely enjoyable. Someone untouched by the prevailing climate would have been a welcome relief.