Around 1850, Sewell T. Taylor sold his bar, The Merchants Exchange Coffee House, and went into the imported liquor business. He began to import a brand of cognac named Sazerac-de-Forge et Fils. At the same time, Aaron Bird took over the Merchants Exchange and changed its name to the Sazerac House and began serving the "Sazerac Cocktail", made with Taylor's Sazerac cognac and, legend has it, the bitters being made down the street by a local druggist, Antoine Amedie Peychaud.
Add all ingredients into a chilled rocks glass. Garnish with a lemon.