The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-10-31
THE REASON WHEY.

and population, has rs large number of
in the Union, and there is room for more
The national banks have something over
twenty millions of dollars in circulation
that is money issued to them by the comp
trollcr of the treasury and deposits, while
there is on deposit in the savings banks
of some five millions of dollars more.
This is a rough estimate, and. in it, no ac-
count has been taken of interest or profits,
or of bank notes not issued by the banks.
But taking the amount rs approximate, here
is twenty-five millions of dollars Of trust
funds placed in the hands of the officers of
the several banks of the state. II we turn
10 the last report of the state treasurer, we
will find that he had received and paid out
including cash on hand, nearly Il million of
dollars for the year ending August 1st,
1872 These sums will be found, upon cX-
animation, to be proportlonatcly as large as
those of other states, when the extent of
territory, population, business and enter
we rarely or never hear of embezzlements
and defalcatons in this state ? Such an
event is entirely unheard of in the history
of our banks, and but one instance was
ever known in the state treasury. Human
nature is the same every where, and there
ought to be, by general rules, the same
liability to have dishonest officials connect
ed with our financial institutions as in other
states. We know that it is claimed that
those residing in the country are more hon
est than the denizens of the city but this
has hardly any force, because the majority
of those occupying fiduciary financial po-
sitions in the city, originated in the coun-
try many of them not changing their resi-
dencc until they had become of mature
years, with their habits and character fully
formed Neither are these dcfalcations
confined to the cities alonc-as we gener
ally understand the term city-but are of
as frequent occurrence in towns or small
cities, remote from the larger ccnters of
population, as in the crowded marts of com
merce, proportionately, of course, to the
amount OF population, wealth, business,
etc. We might go a step further and say
that nine out of ten Of these Gefaulters are
not more wicked and corrupt in their hearts
and intentions than nine out of ten of the
whole community. They violate their
trust, to be sure, and, in the end, defraud
their employers and shake public confidence
become amenable to the laws, and are pun
ished as crimnals-beciuse the safety of
society, as well as the security of financial
institutions, demand that they should be so
punished.
1t is more than probable that not one out
OF hundred of these dcfalcations would
ever occur, if the idea should enter the
mind of the individual, thus unlawfully
and wrongfully abstractng money, that
there could ever be, under any circum-
stances whatever, the least possible loss to
the institution with which he was CON
ncctcd. This, it is true, does not change
the nature of the act, so far as RESPONSE
bility to the law is concerned. A crime is
actually committed all the same whether
an actual less ensucs or not. There NAV,
however, be difference Of moral RESPONSE
bllily, il the intention is the essence of
right or wrong, as we are sometimes told
that ii is. II is one of the attributes of the
human heart to deceive itself, and the same
Kind of heart is in everyone, whether he re-
sides in city or country. The intention to
do right exists among bank officers, treas
urers, and treasurcr's clerks everywhere to
the same extent, but the opportunity to do
wrong docs not, and herein is where our
safety in Vermont has been assured.
There is, andalways has been, feeling OF
personal responsibility on the part of state
officials, bank presidents, directors and
cashiers, and they have overlooked the af-
lars OF the several institutions placed in
their charge, and not left them entirely &c
the care of subordinates. The state treas
urcr has, also, considered 1t his bounden
duty to have a personal supervision over
the money of the state, and has not left il
to the unmolested manipulation of depu.
ties, clerks and bookkecpers. The treas
urer and comptroller of the state of New
YORK each receive an annual salary OF
twenty-five hundred dollars but they seem
to have considered their duty wholly dis,
charged by drawing their salary, and oc.
casionally dropping into the Office. Indeed,
Raines, the treasurer stated, Wednesday
that he never thought of being at the
office when his deputy was there. The
whole financial affairs of the great state OF
New York; the receiving and dsbursing OF
millions of dollars, was left to q clerk il