There was suspicion, probably justified, that Texas' sovereign gold was being used by the New Yok Fed to control the gold price.
Publius wrote:
“
The Republic of Texas sent its gold to various federal depositories upon annexation. It was finally repatriated to Texas at the time of the creation of the depository.
There was suspicion, probably justified, that Texas’ sovereign gold was being used by the New Yok Fed to control the gold price.
“
Article about the setup of the repository:
This article talks about whether the gold got repatriated - it didn’t: