The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1842-06-16

Correspondence Of the Madisonian.
New YoRK, June 18th, 1912.

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New YoRK, June 18th, 1912.
The occurrences of the present week In this
city are Ofsome interest, inasmuch as there have
been some developments of fraud and defalca-
ton of an astounding character. Monday was
day of peculiar interest. We heard OF the
defalcaon of Schermerhorn, Secretary OF the
Ocean Insurance Company, in the sum OF $780,
600, being more than one-third Of the capital
stock of the Company. 1t appears, from his
own confession, that he had in 1882 operated
IN stocks ON which he lost large sum of money:
he again tried his luck, and, instead Of repairing
his losses, he has increased them, until he found
himself or rather the Company, minus the sum
above mentioned. He is represented as being
very circumspect and economical in his mode
Of living, and is about the last man in Wall
street who would have been suspected of fraud
in any of his transactions. A man who would
av old temptation, let him eschew all Wall street
operations
On the same day, the porter of the Long
Island Bank at Brooklyn on his way to this city,
was robbed of bills and checks amounting to
discovered
| In the course Of the day there was consider
able commotion in the Custom House, occasion
ed by the detection ofseveral frauds on the reve-
nue., committed by Mr.. Frosch. A large
amount of goods deposited in his store was
seized by the Collector, and Mr.. f. held to bail
in the sum of $4,000. 1t is said that he has
been carrying on this game for long time, and
in most ingenious manner. Mr.. Curtis, the
Collector, will no doubt ferret out these rascal
ties, and if the public will sustain him, have
no doubt he will pursue this matter so as to pro-
tect the Government and the honest importer
Mr.. Hoyt detected some Of this class of men,
but he was so unpopular with the merchants
that he could scarcely get averdict against them,
even when their frauds were as palpabe as the
sun at MONDAY. hope and trust that Mr.. Cur
tis will be better sustained in bringing the works
Of darkness to light. Few persons can conceive
of the enormous violations of the revenue laws
committed principally BY foreigners, who appear
to consider it, as in their own countries, clear
gain when they can cheat the Government
They do not, or will not, understand that every
dollar they cheat the customs is so much taken
from the People themselves, whose property it
is. Acting on this principle, or rather want of
principle, this class of persons devise every
means in their power to defraud the revenue,
and it requires the greatest vigilance on the
part of the Collector and his officers to detect
them.
The Secretary of State and the Postmaster
General have left this city for Washington, and,
ere this, are again at their posts. Mr. Wick
life, who has never before been in New Eng
land, appears to have been well received through
out the whole of his journey. His plain, easy,
frank and straightforward demeanor, could not
but please the Yankees, who, in him, have a
fine specimen of whole-souled Kentuckian.
The trial of Monroe Edwards is now in pro-
gress, and if, Sin the multitude of counseors,
there is safetv," then Monroe is safe enough
He has several distinguished lawyers of this city
to defend him, besides some from Philadelphia
and two from Kentucky. The opinions as to
the result of his trial are various. Some think he
will be acquitted, others believe he will be found
guilty, while third say the jury will not agree.
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there is great deal of money at stake; second
ly, because there will be hard swearing, and,
thirdly, such an array Of talent will stagger any
jury Every one almost, whom have heard
speak on the subject, believe him guilty, and
yet, strange as it may appear, do not believe
that the jury will agree to bring in verdict of
guilty.
The appointment of Mr. Mangum as Pres-
dent pro fempore of the Senate has excited
great surprise first, account of his un6tness
for the station, and, secondly, because of his
known and malignant hostility to the President
see the reckless and Clay -colared correspon
dent of the Courier g. Enquirer chuckes might
ly over this exploit, and even looks forward with
pleasing anticipation TO the death of the Presi
dent :. This he supposes will place Mr.. blank
Mangum in the Presidential chair and then the
friends of Mr.. Tyler may look out for squalls.
But does not this writer know that there will,
after the 4th of March next, be some changes
in the Senate, when another President pro tenn
will be chosen I; and then, even if Mr.. blank
Mangum should vote for himself, he will not be
able 10 secure his own reelection.