, 1870-11-10
Senator 8prnEue,& De1cucc.

We apPeud herewith portion of Governor
SpraEue's letter IN anawsE to the charge Of
having been engaged in reasonable cotton
speculate na during the late civil var:
- The circumstances upon which any pos
eible impRtetioa can reat upon my conduct a.
foundation fo1 this gvoss and grouud1ess
charge is tair; and nothing more: Some time
in the car4H yests Of the wax, one Hoyt called
upon me with general letter Of Introduction
from tho late President Lincoln. This letter
warmly Ct tmmended Ho3t 10 tho sympathy
and aid Of loyAl persona, and WAS in itself
euf6cieut authority for my entertaining any
prop oetiou with respect which the bearer
might make. Ar. Hoyt'B plan WAS to furnish
relief to the loyalm in Texas who bad cotton
obtain funds, With which cotton Of Ibis class
t:Mrsons eo7ld BE- purchased, and, accord
lng 70 his statement, Facilities had been prom
1aed him by the government at this end. His
idea was, that in this Way profitable bnsiness
enterprise would bo attended BY substantial
benefit to suffering Union planters II the
South. heara bis statement and the details
Of his echeme, knd in view Of the credit which
the letter Of President Lincoln gave him,
had 60 reason to doubt the feanti1ity OF the
Flan, and had 40 reason TO entertaio the
think it possible, though have no recollection
Of the fact, that gave him letters to General
Butler and Admiral Fa1raEut, and parhaps
ethern. should not have done 70 lad he re-
quested IL.
After hearing Mr.. Horts statement. md.
perhaps, giving hin, tim letters referred to,
nv conn ctioD with the subject entirely
ceased. The pressure Of nv public duties i,
that time, - well Is for rnaLy montbs previ-
ously and afterxard, compelled me to leave
Ill details Of the business OF my nvm to my
~ousin. and then active partner, the late
Byron spraguo. hare no per=onL howl-
,dge whatever OF any business arrangements
in reference to the schame, which were made
~ my Iaxtner In connection with the other
ve1y respectable gentlemen il this comtnu~
Lily, whom Nr. Hoyt had, on like REPRESENTS
ions, - suppose, induced to associa.s
auy reason. however, to suppose that mE
partner. or any Of the other gentlemen. had
my suspicion that Hort Was coneoctitg plan
20 defEa I'd them Of their money. Or pursue
sheir cost. I need hardly aay that the invest
ment made by 4. / T. S. and the other gen.
tlernen vac wholly lost.
~ had dianiastd the whole subject from
my mind, except that remembered it IS bad
Investment. when in the summer Of 1865, Was
.urpnted to hear that Mr. Byron sprague and
Col #. Il. Reynolds we're arrested npon
military ordez from Gen Die. ME. Byron
S1rsgus ceased to have any business connec-
tion With me- afte1 April Lat, 1855. he having
previously retired from our ftn,. was ne
sesinst htm nd Gol Reynoids, and hsve
the best Teasou to believe. from tho letters
to Gen. Dir, that no charges were ever
formally made or attempted 70 30 proved.
Am no. at Ill surprised that in that day Of
.us1 icion and disurst it WIS deemed proper
BY Gtneral DIX to make : esoee inquiry into
tbs whole Transaction. General Di1 address-
ed letter TO ne upon the subject, calling for
information. 1t once gave him III the facts
within my knowledge, and requested that he
would appri.e ne Of any fars or e4rcurnstsnce
which might In the cour-o Of tia iuveetiGadou
require explanation, Ut the eAme time refer
ripe him to ny counting-rpon for such ds-
,aiie Of the business 4 he might deai1e to
know. nsves received any Communication
firm General D1x sfterwara upon the sub
ject, nor did any other officer Of the govetn-
ment ever make any inquiry Of me 10 refer
full investigation, both Colonel Reynolds and
Mr.. Byron SpzaEue weEe honotably dis
eharxed -