The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-03-09
How TO Mnke Bank Officers Honest.

How to Make Bank Officers Honest.
IT is sound wisdom to profit by the experience
of others, and it is natural for young people,
with new institutions, new wants, and vague
ideas in regard to their qualification, to turn to
the precedents of older nations and see how
they manage their affairs. 1t is not servile
imitation when we draw literally on the policy
of Great Britain. 1t is only acting like wise
statesmen, and availing ourselves of the
opinions and lessons of others. 1t was this
spirit which led the founders of our Govern
ment to take so many of the British notions
into our new political structure; and sound
discretion should induce us to use the lessons
o. he past of the mother country whenever
". can. She has had long experience i'll the
conduct of banking system, and has been, for
century and half, perfecting the best plan
of securing honest officials. We then turn to
the rules in vogue in the Bank of England
to-day, and recommend the adoption of a like
series in our own National Banks. That some
reform is needed we suppose all will agree.
Within the past week no less than six associa-
tons, started under the National Banking act
have exploded because of the dishonesty of
their officers. In one, President commences
a series of immense speculations, and involves
the bank. In another, Cashier does like
wise. And in yet another, a confidential Clerk
ditto, and so ON to all the Directors and en-
ployes. These cases have come to light; how
many more may be hereafter revealed can be
known to none.
Ia = oil 10 nply yyr1,yy . N1,,tA q,
funds are so exposed, and why, with such GER
tainty of detection staring them in the face,
men will throw away their good name with
such recklessness. The cause is not found in
the fact that they have not funds sufficient to
meet their immediate wants, for their salaries
are enough to keep them from want and to
meet all necessary expenses. We think that
these defalcatiOns were occasioned by a desire
to secure a competency for their old age, and
to remove the future of want away from the
prospect of their active life. Their needs made
them spend all they received each year, in
order that they might keep up proper ap-
pearance. They had no surplus to lay aside
and accumulate, to provide for the day when
age would no longer let them work. To gain
this sum they risked in dozen ventures and
lost. To cover up this one defalcation an ad-
ditional series of similar dishonesties was
necessary, so that, after years of crime, they
are discovered, and have eventually no more
money than when they first began the career
of guilt.
How, then, is this to be remediedl We
answer, by removing the fundamentally
placing such a sum in prospect as will dispe
all fears of future want. This is tn,
plan which has been acted upon in the Banl
OF England for years. Every cashier or clerl
who has served the institution faithfully for
certain number of years, is, when he arrive
at, old age, placed upon half-pay, and thi
gives enough to support him. By this plal
an inducement is held out to continues
honesty for, if any misdemeanor is com
mitted, he may be discharged before the tim
of receiving his retiring pay arrives; while
if he does his duty for that time, he is SAT
from all fear of all future want. At the sam
time no sense of degradation is caused by thi
pecuniary aid, for it is not charity but
payment for services rendered, as the half-pa
official still does certain duties which ear
his pay. The army or naval officer feels 4