The Monte Carlo is basically a Manhattan that replaces the Manhattan's sweet vermouth with Bénédictine. Bénédictine* is a spiced herbal liqueur with additional flavor notes of honey and licorice. It's the big daddy to the more familiar B&B, a drier version mixed with brandy.
I usually make this with Rittenhouse 100. The nice thing about these classic whiskey cocktails is they can be easily tailored to personal tastes without sacrificing balanced flavor. I happen to enjoy a little spice in my cocktails and the spice notes of the Rittenhouse emphasize the spices of the Bénédictine.
2 Oz. Rye Whiskey
1/2 Oz. Bénédictine
Dash Angostura Bitters
Dash Peychaud's Bitters
Add the ingredients to an Old Fashioned glass filled with ice.