e transmitted to Berlin. The Bank officers themselves,
although they knew very well that these notes belonged to the United
States, were not less alarmed because they feared that I would
withdraw the money to send it to New York, which they knew would make
trouble in the London Exchange. Money, which for a short time before
had been at the high rate of interest, for this place, of five per
cent, had become abundant, and the people were demanding of the Bank
a reduction in the rate; but so timid were they about these post
notes that they did not change the rate until I took measures to
allay their fears. This I did because I thought it would be injurious
and prejudicial to the Funded Loan to have a panic in London, in which
the market price of the new loan would drop considerably below par
just at a time when its price and popularity were gradually rising,
and just as it was coming into great favor with a new class of
investors in England, the immensely rich but timid conservatives.

I determined to open a deposit account with the Bank of England, and in
doing so experienced the difficulties which I anticipated. I assured
the officers that the money was Government (U. S.) money, which I did
not intend, and was not instructed to take home with me; but which I
should use in London in redeeming bonds and coupons, and should leave
in the bank on deposit unless by the peculiarity of their rules, I
should be obliged to withdraw it. They objected to taking the money
as a Government deposit, or as an official deposit in my name, having
some vague idea that if they took it and opened an official Government
account they should be liable for the appropriation of the money unless
documents from the United States were filed with them taking away
that liability, but they could not tell me exactly what documents
they wanted nor from whom they must come. They did, however, agree to
open an account with me, and that was the best I could do. In signing
my name to their book, I added my official title, and when, some time
after, I came to drawing checks, I signed in the same way. This
brought from the officers a letter which I annex hereto, saying that
my deposit would be regarded as a private and personal one.

What I was most anxious to provide for was the power in some United
States officer to draw the money in case of my death (knowing the
uncertainty of life), without the delay, expense, and trouble which
must necessarily ari