Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1881-11-02
A MELANCHOLY FALL.

1 n HhAAAAAANOAAOAfA y hAAhAe
The failure Of the Mechanics Ma
tional Bank, of Newark, N. j., reveals
some strange and unexplainable
phases Of human nature. The board
Of Directors was composed of leading
business men, in whom the public had
the utmost confidence. The cashier,
Oscar L. Baldwin, had grown up to a
position of high trust in sight Of the
directors. They trusted him i'm
plicitly. The institution was con-
sidered one of the safest in the
country. Everything seems to have
been left to Baldwin's care. If the
board had meeting it was to ratify
Baldwin's action and accept his sug-
gestions. He was on a fine salary,
and the directors acted as though they
thought he was paid to think for
them, as well as do his own mental
and physical work. When the failure
was announced the surprise was
boundlesS, and the sleepy directors
awoke from a Rip Van Wrinkle sleep.
They had trusted too much
to their cashier, and thus
placed temptations in his way. No
real rigid investigations..were made, or
false entries would have been discov-
cred years ago. 1t was case of blind
faith in Singleman. When the direc.
tors met and offered to subscribe
$500, 900 to enable the bank to carry on
business, Baldwin plainly told them
that 100000 would not doit. Then
they awOke with as little faith in
Baldwin as Bob Acres had of ccur-
arage in his fingers end when
he went on the field Of honor.
Baldwin has taken his bed. 1t was
about the last thing he could take,
except the safe in the bank, and he
had DO use for that after the funds
were gone. Baldwin is married, and
the father of four children. The wife
and the children, the oldest only six
teen years old, stood at his bedside all
day. 1t was sad wake over the live
body Of Ia man morally and financially
dead. He was for years a leader in
social circles and regarded not only
as an able fnaucier but as the pink of
perfection, When such men, morally
rotten to the core, gain the full con-
fdence Of their fellow men there is
no telling what immeasuratle harm
they may do before finally exposed
Baldwin says he is guilty and willing
to go to the penitentiary. What
atonement is this to his disgraced
wife and children and to a wronged
community? He denies that he
speculated in stocks or derived any
profit from his enormous defalca-
tions. His story is that he
began to mako advances to Nugert &
Oo., wealthy firm of morocco manu-
facturers,in 1873 He went on from year
to year, increasing INSTRUMENTATION
upon his own responsibility, and skill
fully covering it up by false entries
until the whole assets of the bank
were absorbed, There was not only
nothing left but the bank was largely
in debt, The statement that he
derived no benefit from the part he
played will be received with doubt.
lie may have squandered his
share of the plunder, but he
certainly would not be at the trouble
to steal two millions Of dollars from
his employers without charginga bust.
ness like commission. The shock that
society feels at such a disclosure has
its lesson. 1t teaches that human
nature at best is weak and liable to
yield under pressure of great tempta.
ton. 1t is the little sins which
open the way for larger ones.
This man never started out to steal
2, 10000, if anything at all. A sense
of vanity, rather than the lust begot-
ten OF mercenary motives, doubtless
led him to make the first false step
1t was something to be able, in his
individual. capacity, to dispense favors
to a wealthy, purse-proud firm. 1t
increased his own sense of importance
immensely to advance Nugent & Co.
$4,000 at a time, without collateral
or security. 1t is true they gave
him check on a New York bank,
which he entered as so much cash,
but it represented nothing and was
passed only for appearance sake. 1t
is not best to trust any man, or even
ourselves, too far. In the Lords
prayer we say, Lead us not into
temptation, which if more literally
translated would read, LET us not be
lead into temptation" prayer which
seems about as appropriate for
the present case as when
first uttered over eighteen hundred
years ago. Society has its safeguards,
and when these are let down or left
open through any false sentimentality
or blind confidence in human nature
its enemies are sure to stalk in. 1t is
easier to prevent crime than to correct
it.