This precinct was called the most important police district in the world, by A. E. Costello in his
1885 history of the force, Our Police Protectors. He explained: Treachery on the part of [the]
patrolmen for a couple of hours would enable criminals to possess themselves of booty amounting to
millions. ? At the time the precinct was established here in 1884, its officers watched over the assets
of thirty-two banks, the Custom House, the Federal Subtreasury, and the New York Stock Exchange.
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All of these institutions, and others that have since joined them, have their own security departments
today, and the precinct was moved to TriBeCa in 1973. The building housed the Landmarks
Commission until 2001, whereafter it became the home of the Police Museum.