The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1855-12-19
From tho DetIoi, Daily Advertiser.
FINANCIERING.

iiUbl tho OcIol DAly tiuhtFlIheI@ r,
FINANCIERING.
Finance has language of its own. Its
thieves are not thieves, but defaulters. It's
refusal TO pay is iucus non tacendo, call
ed liquidation. Having more notes afoat
than means to pay them is being short oteur.
rency the world calls it poverty and insu-
yency. pawning is hypothecation, shining
and borrowing is financiering. Swindlns IS
oyer-operation; taking mems and women's
money to keep safely, and squandering |. or
losing it in speculation is suspending. Loan
ing out other peoples money is accommola-
ton. Paying out doubtful issues in redeem.
ing their own IS retiring circulation. EM-
bezzlement is extending liabilities. Steal
ing State and Government bonds is oyer-ls-
sue, and managing bank well is coRuiying
to make somebody not interested iurrisa
the means to bank upon. Finance has a
smooth business name for almost every sct
relating to money, its safe keeping. dsbarsc-
ment, and prompt payment; the reverse ct
which in private individual is called by
harsh Saxon names, such as are found in b.ls
of Indictment and penal statutes. The 30
taries Of finance never steal they oyer,liag.
They are eneyerpoor, though often very close
They never refuse TO pay honest debts they
suspend. The commercial history OF thls
country for the past twenty-five years is alis-
tory of fnanciering, not only or chiefly by
bankers, nor even by brokers, but by a class
of adyenturcrs who have seized upon these
capacities 10 shroud designs of plunder un-
der technical names.
! The members Of the London banking hoasc
Of Paul, Strahan s Bates have been senten-
ced to fourteen years transportation 10 Gil
braltar. After fair and impartial trial,
which occupied several days, the jury brought
in verdict Of guilty, and the Judge passed
sentence in the following words
William Strahan, and John Dean Paul,
and Robert Maxim Bates, the jury have now
found YOU guilty of the offence charged upon
You in this inlictment-the offence OF dis
posing Of securities which were entrusted nv
your customers TO YOU as bankers for the
purpose Of being kept safe for their use, and
which you appropriated, under circumstances
Of temptation, to your own. greater and
more serious offence can hardly be imagined
in great commercial city like this. Ii tends
TO shake confidence in all persons in the po-
sitioa you occupied, and thas shaken the pub.
lie confidence in establishments like tia, you
, for long period honurably conducted. do
very, very much regret that il falls on my
lot 10 pass any sentence on persons in your
situation; but yet the public interests ard
public justice require it, and il is not for ME
to shrink from the discharge Of any daiv,
however painful, which properly belongs to
my office. should have been glad lf il had
pleased God that some one else now had "a
discharge that duty. ! have seen Continued
the learned Judge, with deep emotion) at
; least one Of you under very different cir
cumstances, sitting at my side in high Of
flee, instead Of being where YOU now are, and
I could scarcely then have, fancied TO myself
that il would ever come TO me TO pass sen.
tence on YOU. But SO il is and this is I.
proof, therefore, that we all ought to pray
not 10 be led into temptation. You have been
well educated, and held a high position III
life, and the punishment which must fail on
you will consequently be the more seriously
!. severely felt by you, and will also great,
affect those connected with you, who vii
, most senstively feel the disgrace Of your pc.
sition. All that have 10 say is. that ! can,
!. not conceive any worse case of the sprt
: arising under the act Of Parliament applica.
! ble to you. offence. Therefore, as canno
conceive any worse case under the act, car
|. do nothing else but impose the sentrnc,
therein provided for the worst case, namely,
!, the most severe punishment, which is that
YOU be seyerally transported Tor lourtect
!, years"
: The prisoners, who seemed astonishrd b,
A their sentence, leant against the dock a. ]
! they expected their counsel to make some
observations TO the Court; but, after a shUrt
!. interval, they slowly retired ia custody.
Here was remarkable case, in which III
Y learned Judge oserrode the common lav
usage, which makes tie technical Language
d ui every trade part Of il. lie stripped d
IS the financial disguise and placed the 0acnc,
j. ii the prisoners before them in its naked hid
eous ueliness. Ten TO one, but for the lal.t
= .ysteu to which we have alluded, that ciicuct
i would never have taken place. Had one q
4 these partners said TO another, {" Shall ",
/. steal ,hcse bonds. shall We rob this widow
or this artizan, or this orphan Of what he o.
she has saved up aud entrusted to VI 10 keep
u and is willing 10 pay u for keeping = iii
reply would have been, "NOW "Thou shall
,y not steal" would have come up iprcibly DC
IL fore them a. they heard il from their mother
4. lips. in tie service Of the church, aud fror
the lips Of :hc sabbath school teacher, an
IL they would have breasted the storm az.
NJ vanld have not stolen but no such pfnpus
10 tons came - before them. The paestlc
vtiit1 iIet we're called to pass upsf wt.