Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1877-09-12
The Trust Breakers.

The appalling fact that twenty-eight life
insurance companies have been done TO
death " in the city of New York alone dur
ing the last few years, with corresponding
number of institutions for savings leads the
New York Times to utter some earnest and
truthful words upon the subject. 1t says
This evil of crime is especially dangerous,
and the consideration our laws and courts
have always shown to what is tenderly
known as breach of trust " is both I'M
just and dangerous. Trust is necessity in
society. We can employ improved safes
and Geographic alarms against the burglar,
but against the treacherous and trusted
employe what can we use ? Hence the
/" breach of trust is breach made in the
foundations of society, and the defaulter
and violator of trust is far worse enemy
than the burglar. English law, with clear
perception, even with harshness, emphasized
this by hanging the forger, but we lock up
the man who breaks in from the outside in
the night and letoff the trusted one who robs
from the inside in the daylight. The injuri-
GUS effects of these corporation robberies are
especially great in two directions When
savings banks are ruined a direct discourage
ment is given to habits of thrift and an en-
couragement to idleness and vice. The saw
ings bank is the natural foe of the dram
shop and its influences, and blow at saw
ing is therefore a blow at society itself.
When life insurance company is ruined
the effect is similar. People are deferred
from taking out policies and are induced to
sacrifice those they already have. There is
no company but has suffered from these
frauds, and their tendency is directly to I'M
dermine the fabric of insurance. Their
demoralizing effect is worse yet. We have
all become so far used to these betrayals of
trust that we have actually coined round,
oily word for them; the defaulter no longer
steals-he is guilty of financial "irregu-
larity." Taking another view of the matter,
what claim to exemption have evil-doers of
this sort We virtuously send to prison
the habitual criminal, born of the slums,
with hereditary criminal tendencies, who
known any except evil influences we let go
free the educated man of high social posi-
ton who has been church pillar and mem
Der of many boards of trustees, but has
somehow-under extraordinary temptation,
of course-been guilty of an irregularity.
Does he not "fee his position keenly," and
could we shut him in prison with "crim-
inals I" In the just view the greater the
light and the less the necessity, the greater
the crime. At all events, the man who COM
mits irregularities is the dangerous Grim
inal, and the one against whom it is hardest
to set up an effectual barrier there is sort
of respect possible to be felt for the burglar
who comes TO match skill and strength
against skill and watchfulness, taking his
own risks without pretending to be what he
is not but why should not the Anglo Saxon
hatred of treachery assert itself in con-
temptuously Furnishing the man who con-
ducts his operations from within Nothing
can be worse than to bring into contempt
the laws and the courts, and establish the
rule that nobody is to be punished except
the poor and friendless. Decidedly it is
time for society to rally for its own defense
and begin to punish, without further respect
ing elegant persons.