St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-01
FIsH,s PUNISHMENT.

The sentence of JAMES ID. FISH is an
impressive event. Notwithstanding the
universal judgment that his conviction was
proper and his punishment just, the
sight of the old man tOttering along i'm his
prison garb must arouse feeling of pity
in the hardest heart. Mr.. FISH is Go years
of age and up to few months ago held a
high position in the business community of
New York. In little more than years
time he falls from the high and responsible
position of president of a prominent ma
tiOnal bank. in which great financial trusts
were in his keeping, and goes down to a
felon's cell on what at his age is likely to
prove a sentence for life. And vet the Jury
that convicted him and the court which SEN
fenced him only performed a plain duty
when they fixed the penalty which he de-
served. The evidence in the trial of his
case revealed most remarkable series of
transactions with the firm of GRANT
IL WARD, based upon astounding
frauds, in which the funds of
the Marine bank had been used not
merely with the consent of President FISH.
but through his active participation in the
fraudulent transactions. Commenting on
the fate which has overtaken the eminent
banker the New York Times says that Mr..
FISH. as president of the Marine bank,
Ibid not simply favor the firm with which
he was himself connected; he did not sim
ply permit the funds of the bank to be used
in large transactions, the legitimacy of
which he had reason to suspect; he did not
simply make loans on insufficient security.
or no security at all, in the belief that they
would be repaid; but i'm the guise of loans
he made a direct misrepresentation of mon
eys intrusted to his keeping to the use of
Mr.. WARD. No matter what his knowl-
edge or belief may have been i'm regard 10
the character of WARDS operations. his
own act was fraud upon the bank and
criminal misrepresentation OF its funds. He
certainly knew the character of the notes
which he accepted, and he deliberately
directed the credits to be made which rep
resented no value, and thereby most fla
GRAVITY violated the law which was intended
to protect the bank. He was false to his
trust, and there is no eXtenuation of the
specific offense of which he was convicted.
1t ought to be no cause for congratula-
ton, but mere matter of course. that his
former responsibility and high position and
the wealth which he had commanded did
not interfere with the reasonably prompt
execution of justice in his case. and vet it
does afford a degree of satisfaction that
could only come from a well-grounded dis
trust of the stern and unimpeded admins
tration of the law in such cases. The lesson
of this case and its consequences ought to
be of value to community in which there
has been too much laXnesS in the enforce
ment of high standard of financial honor
and too little sternneSs in eXacting the
penalty for violated trusts. 1t viii be
seriously impaired if it is not followed by
an equally rigid exaction of the proper
penalties for the Infamous misdoings of
FERDINAND WARD, whose monstrous
frauds in the obtaining OF money ought to
insure his sequestration from the company
of honest men for a term only limited bv
the duration of his natural life"