Turning on the Light: A Dispassionate Survey of President Buchanan’s Administration, From 1860 to its Close, by Horatio King
    

“The transfers in specie have attracted attention and produced a good deal of unpleasant speculation.”—Horatio King, Postmaster General at the end of the Buchanan Administration

(Confidential.)

New York, Jan. 8,1861.

My Dear Sir,–Why is money to very large amounts being transferred to Washington? It may be all right, but it is unusual. Nearly a million of dollars has been sent on in specie within the last week. I write you in confidence. Are these transfers made by order of the President? Is he aware of them? These questions have suggested themselves to me. There is a good deal of uneasiness in regard to the Treasury Department. The Secretary and his assistant are known to be secessionists, and our capitalists, who furnish the Government with money, naturally feel a solicitude in regard to the disposition made of it. The transfers in specie have attracted attention and produced a good deal of unpleasant speculation. The Assistant Treasury Office is in Wall Street, and any considerable quantity of gold cannot be moved without being known. I met, a few days ago, a large number of boxes going out, and on inquiry I found $400,000 were going to Washington.

In haste, very truly yours,

John A. Dix.

Hon. Horatio King.

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