Smyrna times., 1886-10-20
Heber Newton on Frauds,
LUXURIOUS LIVING AND BUSINESS
HONOR-HIGH THINKING.

"Our Recent Epidemic Of Frauds'
was the subject of the Rev. DR.. r.
Heber Newton's discourse at All Saints
Church Sunday morning. In opening
his sermon, DIR. Newton said that the
present season was notable for its
physical earthquakes. A succession of
defalcatiOns among men of exceptional
character had startled the country.
On the list were the names of such
men as Gray of Boston, Gould of Port
land, Bartholomew of Hartford. and
even staid old Pittsneld, among its
solid hills, felt the social tremOr. The
men who had fallen had been apparent
ly beyond the reach of temptation,
with every safeguard Of social position
to keep them upright. The first inAu-
ence of such Il series of shameful falls
was to despair society.
Who then is to be trusted There
is, however, no need Of n social manic.
There Is no dry rot in socity. We hear
of few who fail, hut no paper chrOni-
cies the taithfulness of the vast host
whose stcadincss to duty keeps society
together. The fact that no sensational
sheet wires from Chicago. "The pre-
~
still at his post" signs to over pessi-
mists the truth that the failures in
taithtuiness are the exception, not the
rule. Our city will transact affairs
tomorrow III many millions in which
you here will depend on the fidelity of
thousands of men all over the world,
and there will be scarcely a disappoint-
ment in the trust placed in total
strangers. Neither are we worse than
other people. We can anticipate the
virtuOus Indignation of England upon
the outcome Of our Republican institu-
tiOns. Are your cousins wholly free
from suspicion?
Did you follow the Plimsoil investi-
cation? If So you have learned a trick
cutter than the smaTtest Yankee notion.
We load a stanch ship with valuable
cargo and make a quick run as possible
to Liverpool, but our good cousins
load dummy cargOes on crazy hulks
and cOnsign it to the bottom Of the
seas, recovering a heavy insurance
Herbert Spencer says that the English
run to petty vices in trade while we
| develop colossal frauds. Nor is trade
worse than Of old. We shall search in
vain for the good old days when there
were no tricks of trade and no bank
ruptics in character In the heroic
days of the revolution there were shOd-
| dy contractors for our Continental
army. Edward III. had to pass laws
against corners i'll food. Even the
chosen people abounded in such deal
! ings, and we see them denounced by
tho prophets. The fact is there has
been a steady growth upon the whole
modern history in the character of bus
| mess; certain virtues have been edu-
Gated to point never before known as
notable truthfulnes. We have still
need Of much greater illumination OF
! conscience.
We can best further an Improvement
in business morality by altering the
conditions our boards of directors must
in some way direct. In nearly all late
instances of defalcations the boards
were as much astOnished as the public
If men are too busy to give some eye
to the management OF their institutions
they should not let their names foat
them into ruin. We must trust largely
the ncn at the head OF affairs, but we
must in some way watch them, too. II
is wrong to trust any one in fiduciary
affairs absolutely. Our great CONNER.
cial and trade associations can do much
towards fortifying honor We may
learn a lesson from the old times guilds
which resolutely set themselves to the
task of fostering craft pride and trade
honor, and as reSolutely saw to punish
ing bad men and tricky ways. Sucf
action as the Stock Exchange has taker
in several instances of late would
mighty brace up business honor
Action is urgently needed to restrain
our wild speculation action which the
state is pOwerless to take, but which
our exchanges could take safely anC
successfully. We all may lend hanC
in the checking of our present tenden
cies to luxury, whereby the feverisl
haste to be rich is fed in every circle
Contrast New York home of to-day
with that of a generation ago, and {
tale will be told bearing directly on tn,
question before us.-Ne,U York Star.