During Tom Walker's first meeting with Old Scratch, the Devil proceeds to tell Tom that all the pirate's buried treasure is under his command and protected by his power. Old Scratch also informs Tom Walker that he could attain some of the treasure if he agrees to certain conditions. Irving does not go into specifics, but it is implied that the Devil offers to make Tom Walker an extremely wealthy man in exchange for his soul. Old Scratch then gives Tom his signature as proof of his offer by pressing his finger to Tom's forehead before he leaves the swamp.
After Tom's wife hears about his meeting with the Devil, she tries to make a deal with Old Scratch but disappears, never to be seen again. Tom then visits the Devil for a second time, and the two begin to haggle over the terms and conditions of their agreement. The Devil insists that the money found through his means must be employed in his service. Initially, the Devil suggests that Tom use the money to participate in the slave trade, which is an idea that Tom finds repulsive and adamantly refuses to do.
However, Tom ends up agreeing to use the money he acquires from the Devil to become an unscrupulous, greedy usurer. Tom also agrees to open a broker's shop in Boston the following month and extort bonds, foreclose mortgages, and "drive the merchants to bankruptcy." Overall, the Devil agrees to make Tom Walker a wealthy man in exchange for his soul, under the condition that Tom uses his newfound wealth to drive hard bargains as a greedy, immoral usurer.