The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1865-08-25
The Ketchuna FOrOeries.

startling series of financial frauds. simply
because it seems to us to afford the most
accurate and instructive illustration of the
whole, and of the cause underlying the
whole. How many lectures have been
addressed to the poor young clerk TO be on
his guard against vicious companions and
the little dishonesties which ripen into
great crimes. How have employers been
warned against doing out to their depend
ents the starvation wages which lead TO
supplementary thieving, All good and
proper admonitionS, but superseded Just at
this time by more urgent and universal
causes of misconduct Here was young
Ketchum, in the midst of atiluence. with
thousands at his command, with an envi-
able rank and reputation already won in
financial circles, not at all 4 fast man
in his habits, happily married, with an
array of pure-minded, warm-hearied
friends around him. and with a. bright a
future as any young man could desire
and vet he is the pcrpetrator of enormou.
frauds to the amount of four or five mill
ions of dollars, bringing unutterable shame
upon an honored family. and making HIM
self an outcast upon The face of the earth.
But he is only the shining mark for
the arrow that has stricken down many
Others, and is vet continuing lis ravages
all about us. The defilcation and suicide
of A. I. Stone, Collector of Internal
Revenue in Ohio. the dedication OF East
man, the frauds of the PheniX Bank
clerks, the failure of Mumiord. and other
lesser transactions of the same nature
which have come TO light. are all owiny 10
the same eau>e-YscuLction; speculation
So widely difiiI>ed, so rooted in the iinan-
cial operations OF the day aS 10 have be-
come mama with some. and exertcd n
more or less demoralizing effect upon all
who tampcr with it. 1t is. if we may 80
speak, in the very air of the business
community, and lis influence l. seen not
only in the actual frauds we have referred
to, but in a general dis>olying of the old
Salutary rules and methods OF business
life. The Phenix Bank frauds were cong
on for two or three wears: Mmmtord MAS
allowed 10 ovcr,iraw III the most careless
manner: ketchum's forgcrie- were -
clumsy that they ourlt 10 have been de-
tected long before they were, iiut the
men who ought TO have been on their
guard were very likely al that time, to
quote their slang. wholly enercsS,-d In ..bie
things' OF their own-e,hlying in the same
vortex of speculation which engulie,i these
more unfortunate but perhaps not more
guilty victims.
The cause oi this unhealthy ami I'LL
dangerous stale of things l. OF a cnmple y
nature. >prin"ing from the "rcat national
crisis which We have u>t passed through.
Its most obvious feature l. an Initiated eur
rencv, which has not only impaired a iic-
ticious value Ia everything. hut ha> made
prices undulv sensitive ami subject /" cX-
IRENE fluctuations. al first cvcrlhu,l,
made money by the rise of The property or
ence. Is compared with the usual profits
of business Then the fluctuations q. Ia,
gold and stock markets showed how thou.
!, sands could To- made i'll II L,y--->howH bc
made SAID the ca@cr throng. quick ID
: comprehend the new situation ami thu:
the tioodyateS of speculation were opened
, But when the inevitable Losses came. how
, hard ii WAS 10 rclinqui-h the "ame t>llcl
IL wa>) when Others. perhaps III spite q
: such rcvcr>eS. We're al length carving OF
the brilliant prizes No. more none,
. they must havc-with thai Ia win >lrcc>
; and then retire. If the money WIS pas
. ing through their hands in the WAY OF bu-
f incS>. they would merely u>,' it Tor the i.l0
l mcni and repay ii out of their gains
But that is the downward road that Leads
to ruin. a. if by the irresistible force -
/ ~ravitation Young ketchum shot alon:
. lis fearful dcclivitv. and there are to,
, many even now following in hi> footsteps
Boston .J0u,ndl
| TIE ASSAULT ON GIN. GRANT-Dur
ing Gen. Grants travels. if reports ar
true. ii has been tavoritc trick OF som,
person or persons TO Sieze him bv III,
hand and attempt 70 twist hi> arm. O
when he came upon the platform of TIN
cars. try 10 Jerk him off. Some fellow
tried to do this last thing at EIsin. Ill,
last week. according TO the western papers
While the train stopped in that city an,
, the general was receiving the Salutaticn
, of the people. standing on the rear plat
, form OF the car, a ruilian approached hin
. in the garb of Il farmer. seized him VIC
lently by the hand. and attempted 10 icrl
, him Oft the platform. Col. Babcock. VIII,
was standing on the lower step of the plat
, form TO protect the general. SAW the move
ment and struck the ruiiian 4 blow will
his cane, and ut the same time seized hin
f by the throat and compelled him TO loo>'
his yisc-ELo urinp II l. ~ nifty the hlou