Rheumaniscences in his netherlumbs
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- reminiscences: dwellings in one's memories
- Netherlands → the Flying Dutchman → the Norwegian Captain
- nether-limb: member; penis
- nether limbs means legs, not penis. People sometimes call the penis a "third leg"
- rheum: watery discharge
Commentary
The aleconner, ostensibly making a toast to the Norwegian Captain, is actually using it to deliver insults to HCE. His toast mocks HCE's aging (by virtue of his rheumatism) and lack of a sex life, since he has only the reminiscence of discharge from his penis (ejaculation or a venereal disease).
