The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-11-05
BANK OFFICERS AND DIRECTORS.

Tho report or Mr. Milton q. ltandnll, mn ey-
pert appointed 70 examine and report upon
tho condition of tho Louisiana Savings Bank,
Ia ono of the most exhaustive and, nj the
Same time. startling documents We have seen
for very long tlmo. 1t contains u rovoIa-
tion. or. at Toast, nh accusation OF fraud and
acknowledgements md corruption which we be-
love to be without u parallel III tho his
tory Of financial explosions This ro-
port was published In full In Tues
day ,..otning's DEMOCRAT. and leaves
practically nothing to be- sad In tho way Of
comment ~ illustration II shows that the
bnnll hns boon fraudulent concern from be-
ginning 10 end. that II has boon running upon
false returns. false statements. mierepreaen-
tatona, and that every dollar which deposit
tors have lost hns boon u dollar emhezzled
Nothing could ba clearor than this conctl-
sion, at which Mr.. Randall arrives after II
nhptious inquiry into tho iaGts, md which he
presents through tho medium Of statoment
40 logical, 40 compact, ~ eloquent. 50 unatl-
swcrabe. bighting, Tint every ono who rnada
must dismiss tho last lingering doubt which.
from whatever cause. he may have cherished.
II Ii beyond question Tint the public hive
been leluIed into d0positing their money In
thi. bunk Nv the NEST deliberate and ayatem-
attic Justification, by holding out to them the
bnlt Ut Il directory composed OF eminent
and substantial citizens. by showing to them
everything which th0 bunk WINS not and con
ceallng from them everything which The bank
really was. And this II tho story which NJ T..
Randall tolls us with force and emphasis
almost cruel, and which hn illustrates Ivy owl
tlence past all doubt. Certainly. there has
boon np more shameful exposure none which
calls more loudly for roparation.
We 500 that. concurrently with this expo
sure, come the institution OF civil suits
against tsle president and directors Of tho
bunk amounting 70 Sl00,oOO, distributed
among The individuals, and IL further suit for
$4,000 against them all IN solido. This is
IA IL should hn. Tho least that could have
been done after such developments WAS to
Institute civil suits against the parties who
are, specifically, responsible In the prem
Uses. A great and burning wrong has been
committed, not only against morals and the
law but against scores OF Innocent and tie
fenssIess people, and It Is tho duty as we'll az
prosecute their Injury TO conclusion These
Suits then, will answer the double purpose oi
vindicatng the community from the suspi-
cion Of condonlng such oifenses aud OF locat-
ing and defining the otfnnses themselves
There was never a more appropriate time
There has never bsen q case where this inter
ference OF the law was more mperatively de-
manded. So far as tho public can see, with
the lights before them, this wrong was us
barren Of excuse or proyocation as 1t was re-
morseless and unsparing In It's operation
UnQuestioDably, II The truth be as 1t seems,
there should be some Interpolation on behalf
or the plundered public and of the outraged
law.
There is q terrible accumulation of wrath
and condemnation In the popular mind. The
circumstances OF this case have aroused pub
Lie sentiment to degree unparalleled In any