# E9 - Sweet Honey and Bitter Armor
Source: [Crunchyroll](https://www.crunchyroll.com/watch/G31UX449N/sweet-honey-and-bitter-armor)
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(Please feel free to edit the speaker names if incomplete or inaccurate. Names are handled on a best-effort basis depending on the info on the source file. Dialogue is left as is.)
**[00:04] Jacob**
So, why'd you visit at a time like this?
**[00:08] Lawrence**
I wanted to get a certificate showing that
I'm a member of this association.
**[00:11] Jacob**
I wish you'd hurry and become a merchant
**[00:13] Jacob**
that can make others flinch at your name alone.
**[00:18] Jacob**
Otherwise...
**[00:21] Youth**
You go!
**[00:22] Jacob**
That girl will leave you at the drop of a hat.
**[00:23] Youth**
No, you go!
**[00:25] Lawrence**
She's an investment of sorts.
**[00:28] Jacob**
What's the point of investing in a town girl?
**[00:31] Lawrence**
I wouldn't invest if there
wasn't something in it for me.
**[00:35] Jacob**
Big words!
**[00:37] Lawrence**
That's right. Do any merchants
want to go to Lamtra?
**[00:42] Jacob**
If you're thinking about
the shepherd girl, don't.
**[00:44] Lawrence**
Huh?
**[00:45] Jacob**
There were a lot of people
with the same idea as you.
**[00:49] Jacob**
But no one wanted to hire
that girl as a bodyguard.
**[00:53] Jacob**
Do you know why?
**[00:57] Lawrence**
The Church?
**[01:00] Jacob**
She's the only one able to wander around
that area without getting hurt.
**[01:04] Jacob**
There's no need for me to tell you
how the Church feels about it, is there?
**[01:08] Jacob**
If you get involved with her, you'll go through
a complicated damn mess with the Church.
**[01:14] Jacob**
Though, I know a lovely fairy
like Nora is your type of girl.
**[01:24] Jacob**
So, is this certificate addressed
to a certain trading company?
**[01:28] Lawrence**
Yes, the Remerio Trading Company.
**[01:30] Jacob**
Remerio, huh?
**[01:32] Lawrence**
Is there a problem?
**[01:33] Jacob**
Yeah, well, you'll see when you get there.
**[01:39] Jacob**
Here.
**[01:40] Lawrence**
Thank you very much.
**[01:43] Jacob**
The Rowen Merchant Association is
under the protection of Saint Lambardos.
**[01:48] Jacob**
I wish you the best of luck.
**[01:50] Lawrence**
Once I finish up this deal,
I'll buy you some good alcohol.
**[01:55] Jacob**
Shoo. Shoo.
***SIGN*** Spice and Wolf
***SIGN*** Spice and Wolf
***SIGN*** Spice and Wolf
***SIGN*** Episode 9
Sweet Honey and Bitter Armor
**[03:35] Youth**
Let's go...
**[03:35] Youth**
Yeah...
**[03:38] Holo**
How cute.
**[03:40] Holo**
They said I was as pretty as a rose.
**[03:43] Lawrence**
Don't humor them too much.
**[03:45] Lawrence**
Craftsmen apprentices are like starving dogs.
They'll end up snatching you away.
**[03:51] Holo**
If they do, will you come save me again?
**[03:54] Lawrence**
Yeah, I'll save you again.
**[03:56] Holo**
Well, in the end,
I was the one doing the saving.
**[04:04] Holo**
I do not know what kind of return
you are expecting,
**[04:07] Holo**
but I will have you invest in me for now.
**[04:09] Lawrence**
You overheard?
**[04:11] Holo**
My cute ears heard every word!
**[04:16] Holo**
It seems you have taken
quite a liking to that shepherd.
**[04:20] Holo**
Was it her meager appearance?
**[04:22] Holo**
Or the fact that she has a hard life?
**[04:26] Holo**
I, on the other hand, am a mere investment...
**[04:29] Lawrence**
Hold on a second!
**[04:31] Lawrence**
The things Jacob says
is his way of greeting people!
**[04:34] Lawrence**
It's not like...
**[04:35] Holo**
Not like what?
**[04:36] Lawrence**
I-It's true that I think Nora is a good girl,
**[04:40] Lawrence**
and I didn't dislike my conversations with her.
**[04:43] Lawrence**
But that doesn't mean that I like you
any less or anything like that!
**[04:52] Holo**
I was just teasing you a bit...
**[04:55] Holo**
I did not think you would
respond so sincerely.
**[04:58] Holo**
That makes me so happy!
**[05:02] Holo**
However...
**[05:05] Holo**
Males are all the same.
**[05:08] Holo**
They say whatever they want.
**[05:10] Holo**
So, how about showing me instead?
**[05:13] Holo**
Knights leave their shields and swords in
the hands of others to show their sincerity.
**[05:19] Holo**
Since you are a merchant,
how will you show your sincerity?
**[05:26] Lawrence**
Fine...
**[05:30] Lawrence**
Those honey-pickled peaches...
**[05:33] Holo**
What will you buy for me?
**[05:36] Lawrence**
H-Hey!
**[05:37] Lawrence**
You know better than to do that!
**[05:40] Holo**
You told me to ask for it cutely.
**[05:43] Lawrence**
I told you to ask honestly!
**[05:45] Lawrence**
I didn't tell you to use underhanded tricks!
**[05:48] Holo**
But was I not cute?
**[05:52] Holo**
Though, you were cuter.
**[05:56] Lawrence**
Wha?!
**[06:00] Holo**
Hey, do not be so angry.
**[06:04] Holo**
Your words really did make me happy.
**[06:07] Holo**
Are you angry with me even so?
**[06:13] Lawrence**
Fine.
**[06:14] Lawrence**
I'm not angry.
**[06:15] Lawrence**
Are you happy now?
**[06:17] Holo**
It would not be good to get separated.
**[06:20] Holo**
May I hold your hand?
**[06:24] Lawrence**
Yeah. It'd be troublesome if we got separated.
**[06:40] Nora**
Um, Father!
**[06:44] Priest**
What is the matter?
**[06:45] Nora**
Um...
**[06:48] Nora**
I would like to take the sheep...
**[06:53] Holo**
to graze in a slightly safer area.
**[06:58] Priest**
You will be fine.
**[07:00] Nora**
Huh?
**[07:01] Priest**
God has graced you with the power
to keep wolves at bay.
**[07:05] Priest**
Do you not trust in Him?
**[07:09] Priest**
Your work was also given to you by Him.
**[07:14] Priest**
Please continue to work hard.
**[07:18] Nora**
Y-Yes...
**[07:25] Holo**
You seem to be in a good mood.
**[07:28] Lawrence**
Any merchant would be excited
when there are profits on the horizon.
**[07:32] Holo**
However, the hunter is most vulnerable
when it is captivated by its prey.
**[07:38] Lawrence**
Merchant trading isn't the same
as hunting prey.
**[07:43] Holo**
Buying on credit, was it?
**[07:46] Holo**
That means you are currently
in debt, are you not?
**[07:49] Lawrence**
If you know something will sell,
shouldn't you buy it even if you go into debt?
**[07:53] Lawrence**
If I did the same thing with apples,
**[07:55] Lawrence**
someone would eat them
until I fell into the red.
**[07:57] Holo**
Fool.
**[07:59] Holo**
Either way, being in debt
does not suit my nature.
**[08:04] Lawrence**
Even though you're currently buried in debt?
**[08:06] Holo**
If you wish for me to pay you back,
you should ensure my happiness.
**[08:11] Lawrence**
Sure, sure. I will work hard.
**[08:17] Lawrence**
We just need to sell the goods we purchased
to the trading company here.
**[08:23] Lawrence**
There's nothing to worry about.
**[08:30] Holo**
It is lively everywhere you look.
**[08:34] Lawrence**
It's the busy season, after all.
**[08:40] Holo**
I do not smell any honey-pickled peaches.
**[08:43] Lawrence**
I told you it's a rare item.
**[08:54] Holo**
Does a monk manage this place?
**[08:57] Lawrence**
If so, we'd at least hear some praying.
**[09:04] Lawrence**
Though, the crunch of eating
that pie is so loud,
**[09:06] Lawrence**
your amazing ears may have missed it.
**[09:10] Holo**
What skillful sarcasm.
**[09:15] Holo**
However, I can at least hear
the sound of the people inside.
**[09:18] Lawrence**
There are people inside?
**[09:20] Holo**
Yes.
**[09:21] Holo**
However, the atmosphere seems quite unpleasant.
**[09:24] Lawrence**
Well, nothing will happen if I stand out here.
**[09:27] Lawrence**
I won't make any money
if I don't sell the product.
**[09:30] Holo**
Just as I will not gain nourishment
if I do not eat this meat pie.
**[09:34] Lawrence**
That was supposed to be for my nourishment.
**[09:37] Holo**
Oh? Did you wish to eat it?
**[09:41] Holo**
Here you go.
**[10:06] Lawrence**
It is not yet the day of rest.
What is going on here?
**[10:11] Servant A**
Well, it's just...
**[10:15] Servant A**
Did you just arrive in town today?
**[10:17] Lawrence**
No, I arrived a few days ago.
**[10:20] Lawrence**
Well, I'm not in any particular rush.
**[10:23] Lawrence**
I will visit another day.
**[10:33] Servant A**
Are you Mr. Lawrence?
**[10:37] Servant A**
You must be.
**[10:38] Servant A**
You were planning to sell armor that you
bought from Latparron Trading, correct?
**[10:43] Lawrence**
How did you know that?
**[10:44] Servant A**
The Latparron Trading Company
came by yesterday evening
**[10:46] Servant A**
to tell us your debt was transferred to us.
**[10:53] Holo**
What is going on?
**[10:55] Servant A**
It seems you are unaware of the recent
drastic drop of prices in armor.
**[11:00] Servant A**
Now that the northern expedition
has been canceled,
**[11:03] Servant A**
armor has become practically worthless.
**[11:06] Servant A**
In other words,
**[11:08] Servant A**
your companion now owes
our trading company a lot of money.
**[11:13] Servant A**
To put it simply, he's gone bankrupt.
**[11:17] Holo**
What did you say?!
**[11:19] Lawrence**
I've been set up!
**[11:36] Remerio**
We both live based on such arrangements.
**[11:39] Remerio**
You understand, don't you?
**[11:41] Lawrence**
Of course, Mr. Remerio.
**[11:43] Lawrence**
I am also a merchant.
**[11:45] Remerio**
Mr. Lawrence, you were loaned forty-seven
and three-fourths Lumione coins
**[11:49] Remerio**
with a payment deadline when making your
purchase at the Latparron Trading Company.
**[11:55] Remerio**
This is what we wish for you to pay.
**[11:57] Remerio**
If not,
**[11:59] Remerio**
we will ask the Rowen Merchant Association
to assume the debt on your behalf.
**[12:04] Lawrence**
Yes.
**[12:07] Remerio**
Well, the deadline is the day after tomorrow,
**[12:11] Remerio**
so we can wait the full two days.
**[12:13] Remerio**
What do you want to do with the armor you have?
**[12:18] Remerio**
It won't be worth much
no matter where you go...
**[12:20] Lawrence**
No, I'll be sure to sell it at a high price.
**[12:22] Lawrence**
We will settle the debt in two days.
**[12:24] Lawrence**
Is that acceptable?
**[12:26] Remerio**
Yes, we'll be waiting for you.
**[12:34] Lawrence**
Sorry for making you wait.
**[12:39] Lawrence**
Let's go.
**[12:49] Holo**
S-So, what has happened?
**[12:58] Lawrence**
The goods in our carriage have become trash.
**[13:01] Holo**
I see.
**[13:04] Holo**
Will you run?
**[13:05] Lawrence**
No, the information network of merchants
is practically the same as the eyes of God.
**[13:10] Lawrence**
No matter where we go,
**[13:11] Lawrence**
we'll be found immediately
if we do any kind of business.
**[13:13] Lawrence**
I wouldn't be able to live
as a merchant after that.
**[13:16] Holo**
However, everyone knows that an injured
animal will be eaten to the bone.
**[13:22] Holo**
Will you let that happen?
**[13:24] Lawrence**
Of course not!
**[13:26] Lawrence**
I just need to make enough money
in two days to pay the debt!
**[13:28] Lawrence**
It's possible to make a fresh start.
**[13:31] Holo**
I am the Wise Wolf Holo. I am sure
to be of some help to you.
**[13:36] Lawrence**
Yeah, just saving on your food costs
would help me out a lot!
**[13:40] Holo**
I told you I will earn what I eat.
**[13:43] Lawrence**
I'm kidding.
**[13:45] Holo**
Your expression has improved.
**[13:49] Holo**
If necessary, on my honor,
I will make sure you escape.
**[13:53] Holo**
Even if I must use the power of this wheat.
**[13:56] Holo**
You promised me that you would
take me to the northern forests.
**[14:01] Holo**
I cannot have you falter here.
**[14:04] Lawrence**
Yeah, I'll be sure to keep my promise.
**[14:06] Lawrence**
And...
**[14:10] Lawrence**
If it really comes to that,
I might ask you to save me.
**[14:13] Holo**
Leave it to me.
**[14:16] Holo**
So, what will you do now?
**[14:19] Lawrence**
For now, I'm going back
to the Rowen Merchant Association.
**[14:21] Holo**
Yes, your fellow countrymen
may be of help to you.
**[14:25] Lawrence**
That's why you should wait at the inn...
**[14:28] Holo**
Do you see me as the type of wolf
**[14:32] Holo**
that can groom herself quietly in an inn
while her traveling companion is in trouble?
**[14:36] Lawrence**
No, but...
**[14:37] Holo**
Do you?
**[14:40] Lawrence**
No, but that's not the issue here.
**[14:42] Holo**
Then, what is the issue?
**[14:44] Lawrence**
The merchant association
is a merchant's hometown.
**[14:48] Lawrence**
You understand what it means
to take a woman there, don't you?
**[14:51] Holo**
Just explain it to them.
**[14:52] Lawrence**
How am I supposed to explain?
**[14:55] Holo**
Just tell them that we are lovers!
**[15:01] Lawrence**
Fine, please come with me.
**[15:04] Holo**
Of course.
**[15:07] Lawrence**
I will tell them you are my business partner.
**[15:11] Lawrence**
Don't say anything unnecessary.
**[15:13] Holo**
Yes.
**[15:19] Jacob**
So, what should I ask about first?
**[15:23] Jacob**
First and foremost,
who is this beautiful woman with you?
**[15:29] Lawrence**
Due to some dealings,
we've become business partners.
**[15:33] Jacob**
Business?
**[15:35] Lawrence**
At the Pazzio branch
of the Milone Trading Company,
**[15:38] Lawrence**
she was able to sell the furs assessed at
140 Trenni silver for 210 Trenni silver.
**[15:46] Lawrence**
I told you I'd never invest if there
wasn't something in it for me.
**[15:52] Jacob**
If you were husband and wife,
**[15:54] Jacob**
I was thinking of convincing
the two of you to get a divorce.
**[15:59] Jacob**
But there are guys like you
every once in a while.
**[16:03] Lawrence**
Huh?
**[16:04] Jacob**
One day, they have an unimaginable beauty
with them and seem to... get along.
**[16:09] Jacob**
Yet, they never talk about the woman,
and I never ask about them.
**[16:15] Jacob**
Well, the scriptures say it isn't good
to carelessly open a mysterious box.
**[16:21] Holo**
A wise decision.
**[16:27] Jacob**
Now, let's get straight to the point.
**[16:32] Jacob**
Let me get this right.
**[16:34] Jacob**
You bought armor at Latparron Trading.
**[16:37] Jacob**
You were loaned forty-seven and
three-fourth Lumione coins in the process
**[16:42] Jacob**
and that debt was transferred
to Remerio Trading.
**[16:48] Jacob**
Is that right?
**[16:51] Jacob**
Even though it looks like Latparron
Trading pulled the rug from under you,
**[16:55] Jacob**
I won't show you any pity.
**[16:57] Jacob**
You got greedy and made a mistake. Am I right?
**[17:01] Lawrence**
It's exactly as you say...
**[17:03] Jacob**
Robbery. Sickness. Injury.
**[17:07] Jacob**
The merchant association doesn't mind
**[17:10] Jacob**
doing everything in their power to
help you in those kinds of situations.
**[17:14] Jacob**
But that's not the case here.
**[17:18] Jacob**
In other words, you have to return
what you owe yourself.
**[17:23] Lawrence**
Yes...
**[17:28] Jacob**
Unfortunately, I can't play favorites with you.
**[17:33] Jacob**
Rather, keeping a firm attitude is
precisely the reason I am in this position.
**[17:38] Lawrence**
Of course.
**[17:40] Lawrence**
I would also be angry if you had
treated someone differently from the others.
**[17:44] Jacob**
On top of that, members in the association
may not lend money to another member.
**[17:49] Jacob**
Of course, the association itself
can't lend you any either.
**[17:53] Jacob**
It wouldn't be a good example for the others.
**[17:56] Lawrence**
I know.
**[17:57] Jacob**
The deadline is two days from now.
**[17:59] Jacob**
Remerio Trading is feeling the pressure after
failing in their own investment in armor,
**[18:04] Jacob**
so I'm sure they'll want
to collect it as soon as possible.
**[18:07] Jacob**
In other words, your failure
will become public
**[18:10] Jacob**
the day after tomorrow,
and I'll have to detain you.
**[18:13] Jacob**
Do you know what happens after that?
**[18:16] Lawrence**
If I don't prepare the forty-seven Lumione
coins and pay them back in two days,
**[18:22] Lawrence**
I will not have a tomorrow.
**[18:24] Jacob**
No.
**[18:26] Jacob**
You *will* have a tomorrow.
**[18:29] Jacob**
It'll just be dark, painful, and heavy.
**[18:35] Jacob**
You'd be able to pay back forty-seven Lumione
**[18:37] Jacob**
by rowing a long-distance boat for ten years.
**[18:41] Jacob**
You could also dig holes in a mine.
**[18:44] Jacob**
But to do so without injury or sickness...
**[18:48] Jacob**
It's not that I want you to die.
**[18:52] Jacob**
Please understand that.
**[18:55] Jacob**
Sins must be punished.
I'm just carrying out common practice.
**[19:03] Lawrence**
Yes...
**[19:05] Jacob**
If there is something
I can help you with, I will.
**[19:10] Jacob**
I trust you, so I won't detain you immediately.
**[19:13] Jacob**
Do whatever you can until then.
**[19:16] Lawrence**
Thank you very much for your consideration.
**[19:18] Jacob**
Businesses always have surprising loopholes.
**[19:21] Jacob**
Sometimes you can only see them
when you're in a pinch.
**[19:24] Jacob**
Go and fight until the very end.
**[19:29] Lawrence**
I'll make sure to pay back the money.
**[19:40] Holo**
What will you do now?
**[19:42] Lawrence**
I've gotten two days’ worth of freedom.
**[19:46] Lawrence**
There's something I'd like to try first.
**[19:50] Lawrence**
Paying a debt with another debt.
**[19:52] Random Merchant**
Oh, it's been a while, Mr. Lawrence.
**[19:55] Random Merchant**
Do you have some new ways to make money today?
**[19:58] Lawrence**
I'm embarrassed to ask,
but I'd like to borrow some money.
**[20:02] Random Merchant**
Oh, is that the case?
**[20:05] Random Merchant**
I'm sorry to say that money
has been pretty tight lately...
**[20:09] Lawrence**
I see.
**[20:11] Lawrence**
I'm sorry for asking so much.
**[20:19] Lawrence**
There are still others.
**[20:40] Holo**
How was it?
**[20:44] Lawrence**
There are others.
**[20:54] Lawrence**
Maybe over there...
**[21:16] Lawrence**
Shit.
**[21:26] ---**
Here you go.
**[21:29] Lawrence**
Next.
**[21:34] Holo**
H-Hey...
**[21:37] Lawrence**
What is it?!
**[21:41] Holo**
I am sorry, I cannot walk
as I like in this form.
**[21:47] Lawrence**
No.
**[21:48] Lawrence**
I'm sorry.
**[21:52] Lawrence**
Excuse me.
**[21:55] Master**
Oh, it's been a while, Mr. Lawrence.
**[21:58] Lawrence**
It has been a while.
**[22:00] Lawrence**
I'm sorry for bothering you
after the market has closed...
**[22:02] Master**
I heard from others...
**[22:05] Master**
You've been asking for loans
all over the place.
**[22:08] Master**
A very large loan at that. Was it because
of the crash in the armor market?
**[22:12] Lawrence**
Yes, I lacked proper vision...
**[22:16] Master**
Only God could predict
a market collapse.
**[22:20] Master**
It would be harsh to blame someone for that.
**[22:25] Master**
I live according to His word
**[22:28] Master**
and believe in showing others
the same sincerity I was shown.
**[22:34] Master**
I wanted to be of some help
to you, Mr. Lawrence.
**[22:40] Master**
However, you're walking
around with a woman
**[22:43] Master**
while depending on the mercy
of others for money?!
**[22:46] Master**
How dare you mock others like this?!
**[22:57] Holo**
Hey.
**[23:06] Holo**
Are you all right?
**[23:08] Holo**
You face is so pale! Let us go to the inn...
**[23:12] Lawrence**
If it weren't for you!
**[23:20] Lawrence**
I-I'm sorry...
**[23:27] Holo**
I will return to the inn.
**[23:35] Lawrence**
Damn...
**[23:37] Lawrence**
Damn.
***SIGN*** Episode 10
***SIGN*** Wisdom of a Wolf and
Smooth Talk of a Merchant
**[23:45] Holo**
Next Episode: Wisdom of a Wolf
and Smooth Talk of a Merchant