The true Democrat., 1854-12-27
A Year of Financial Peculations

ne year 1894 will stand out in broad relief upon the page of history as one of unexampled financial rascality and swindling. A series of bold, rascally, wholesale robberies of the public have been perpetrated, of the most unparallel- ed character. The sums of money of which the people have been swindled by railroad presidents, bankers, public and private. mer- chants, and others, who have controlling inter- est Tn monetary matters, amounts to many millions ofdollars. The ball opened with the dis covery ot the robberies of SCHUYLER, the Presi- dent Of the New York and New Haven railroad In the over-issue of stock belonging to that corporation, and was followed by the disclosure of other frauds and peculations of similar na- ture in New England. The country was star tied by these developments of rascalitv occur ring in high and aristocratic circles. supposed to be governed by notions of morality and re- hgaOn. and new term not hitherto found in the English language, was brought into use to ex press the public sentiment in regard to them viz: 7" Stuylerism."
 Before the commercial and monetary circles had revived in the least their confidence from the shock which they had received from ''Schuylerism' in the East, there came upon them the news of the rotten failures of banking institutions in the West, and the losses by them to the masses of the people of hundreds of thousands of dollars. Simultaneous with the financial developments in this quarter, there has occurred upon the Pacific coast, in Califor- nia monetary fraud and swindling moro gigant ic even than the robberies of SCHUYLER and his compeers in the Eastern cities. MEIGs the Alderman of San Francisco, has far surpassed SCHUYLER in the magnitude of the sums which he has heeced from the public and stolen from theirconfdence. Close upon his heels is CLARK. the clerk to the Mayor of San Francisco, who has shown himself an adept in "SHUYLER, fnanciering to the extent of several hundred thousand dollars. In the meantime banks of every description are " cavng in" collapsing. with scarcely any assets, but any amount of lia- bilities
 The public journals have hardly room to chronicle the names of the various banking in- stitutions which have broken, and whose notes are now as worthless as the paper upon which they are printed. That one half of these bank failures are honest is not an idea to be entertain ed for moment, and we doubt not that set clement of their affairs, and exposure of their management in black and white, will make beautiful exhibit of financial villainv. InA ad- dtion to this, our exchanges come to us laden with accounts of " embezzlements'' upon the part of clerks and employees and forgeres in unprecedented numbers From their principals the leaven of dishonesty has thoroughly imbued the subordinates. These developments show such a shocking low state of honesty, such a dim appreciation of that moral commodity throughout the land, that a general want of pe- cuniary confidence in every body cannot fill to be the result.
 The most of these financial rascalties have occurred in quarters where they were little look ed for, the persons guilty of them occupying, previously good position in society. Never have the masses of the people suffered more severely. Hundreds, nay thousands of persons have been reduced by them to penury and want To them their losses have not been felt less acutely and severely, because in many cases they have been robbed of their hard earn ings legally, under cover of law, and can obtain no redress It is indeed painful reflection, that the MEIGs, SCHUYLERs, and others of that ilk of " financiers," have not been brought to the bar of justice to answer for their gigantic swindles. How much less injurious and perni- cious to the peace of society, in every point of view, are the common robbers and swindlers whose offenses come daily under the cognizance of the courts! and how suggestive are they of comparison, by no means fattering, of the par tlal manner in which justice is administered in this country! The williams who have robbed the people of millions, instead of doing penance in striped suit, at some penal institution, are luxuriating upon the fruits of their larcenies in foreign land.-Csncanmoti Enquirer