The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-10-11

next accounts from there Will De looked IOr
with great interest
WHAT WE Do WITH Our DErAULTERs.-There
has been a vast deal written and great guam
tity of surplus morality expended in idle talk
upon the subject of defalcations by the en-
ployss of corporations, banks, railroads, &C.,
in this country. The latest case, that Of young
Lane, has formed the subject of severe COM
ments from the press and the pulpit, but has
already almost passed out of the public mind,
and in q few days will be forgotten alto
gether, the distinguished inancier descending
to oblivion with many others who have hereto
fore enjoyed momentary celebrity in the
same line of business. And there will be the
end Of all.
Now, what we wish to suggest is, why are
not these fnanciers, who are so severely talked
at and preached about, punished like other
rogues? What has become of half dozen or
more bank clerks who have robbed their en-
ployers? We can remember only one who is
where they all ought to be-in Sing Sing.
Huntington, who was an outside operator, hid
let the Wall street bankers in for good sum,
was convicted, but, as the lawyers say, through
blunder in the management of his defence.
There are several others who have never been
brought to trial. Every one remembers the
operations Of the celebrated Chemung Smith,
who conveyed" handsome allowance out of
the city treasury. Was he ever punished! The
last we heard of Chemung, the indictments
against him were all quashed by the Recorder;
and the truth is that all these fellows, though
often indicted, generally manage to slip
through the fingers of Justice, who seems to be
growing partial in her old age. This is partially
the fault of the compliments against de-
faulters. The banks generally try to hush such
matters up, make the thief disgorge as much
as possible, and then quietly slide of to Cali
fornia or to Australia. In the city government
there is more or less fraud in nearly every de-
partment. The case of Chemung Smith might
have developed the whole theory and practice
of Cooperation thieving, and exposed other en-
ployes of the city. 1t may have been for that
reason that the trial was not pressed. There are
some secrets which are too valuable to be ex-
posed to the public view at any price, and the
maodus operandi of swindling the city is one of
them.
One thing, however, strikes us as being pain
fully Inconsistent If a poor man, Irish, Ger
man, American or hungry Frenchman steals a
loaf of bread, or pair of boots, or an old
overcoat, he is straightway sent to Blackwells
Island for the winter There are no flaws in
the indictments, no motions to discharge, with
elaborate arguments, no demurrers, no fire.
quent postponements, no hair splittings of the
law, no quips, quirks or bubbles for the poor
wretch who stands trembling before the awful
majesty of four police Justices sitting in banco
at petty sessions. Down he goes. He has no
money nor friends. The Justices are doing
him service by sending him to the Island.
Quite different is the case of the well dressed,
carefully educated, often prayed over youth,
who has stolen matter Of fifty thousand dol
lars, who has been attired in purple and fine
linen, has Jared sumptuously every day, driven
the feetest coursers, maintained his yacht, and
enjoyed other expensive affairs, which may or
may not be luxuries, according to ones taste
or want of it. This scamp is, before the law, as
it stands in the books, on the same footing with
that poor devil that went to the Island, but for
some mysterious reason, between the Code and
the leading counsel, and the influence of
friends, and the malleability of juries, and the
amiability of the Judges, the thief who steals
by the tens Of thousands escapes, and the pet
ty scamp's sentence ismade the heavier through
computations of the judicial conscience.
We submit, in view of all these things, that it
is utter nonsense to expect common honesty on
the part of Corporation employees until default
ers are properly punished and a more strict
method of doing business obtains. If the law
will not answer as it stands let us have spe-
cial act as in England and France.
nu1,,I osr Wrrn,s DANCE --Thurlnyu Weed nj.