Wheatland, October 21, 1861.

My Dear James:—

I have mislaid your last letter, and have not answered it sooner, awaiting information that my account had been settled and the balance struck in the Chemical Bank. I think there would be no risk, and if so, no danger in sending a bank book or the certificate of loan by mail. I believe that New York Loan is registered, and without coupons—but there is no hurry in either case.

I am determined to sell all my seceded State bonds this fall for what they will bring. North Carolinas will probably command $60, and I would sell at that price to-morrow, but dislike to send the certificates by mail. These loans may rise or sink in the market, as the Bulls or the Bears may prevail; but after the war is over, let it terminate as it may, these States will be so exhausted as not to be able to pay, be they never so willing. As you sometimes deal in stocks, I give you this confidentially as my opinion.

We have never heard a word from or of our good friend Schell since he left us. How is he? or what has become of him?

I think it is now time that I should not merely defend but triumphantly vindicate myself, or cause myself to be vindicated before the public, though my friends still urge me to wait.

I believe it is universally believed that Floyd stole guns and sent them to the South. There is not a word of truth in it, as is proved by a report of the Committee on Military Affairs to the House of Representatives on the 18th February last, Mr. Stanton, a Black Republican, being chairman. It is true that at a late period of the administration, Floyd made the attempt to send a considerable number of columbiads and thirty-two pounders to Ship Island and Galveston, but I arrested the order, through the Secretary of War, before a single gun was sent.

We are expecting Mrs. Roosevelt, and I shall be delighted to see her, though we shall not be able to entertain her as I could desire. I have never at any period since I commenced housekeeping, been able to get a good cook, or even a tolerably good one, except at Washington, and we now have one of the worst. We shall, however, give her a hearty welcome.

Yours affectionately,

James Buchanan.