New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-11-28
THE GREAT DEFILCI1ON.

Gratifying proofs of the stability of the Shoe
and Leather Rank have been abundantly fur
nshed since the news of Il very large dclaic'-
ton hy one Of It's employees startled the puoilc'
New light also is being constantly thrown upon
the lives of the two men who are To all appear
ancc Jointly guilty Of monsirous fraud Inc
bookkccpcr has confessed his crime ana dlSap-
peared 4 man positively and repeatedly iden'-
fed rs his accUmplicc * dead. probably ny MS
own act Testimony dscrcditing his character
in general way and seemingly establishing
numerous specific instances of wrongdong on
his port. is being supplied 10y his acquaniancc>
Those ncarcs; 10 him refuse. with natural ana
conmcndablc LOYALTY. To believe these acc,lsa-
lions at this stage in the inquiry. and they are
able 10 produce som" evidence IL t" his m~lo
of life his investments and expenditures. which
comulicl he the question as to how he succeeded
in consuming so great n sum OF money. All
thes. details of an extraordinary crime are not
only generally interesting. bui Of considerable
impor,auce To the bank which has been defraud-
cd and TO individuals who suppose that they
have. lost heavily because Of their confidence
in Il rascal.
But a matter Of wider concern l. th" facility
with which bank enploye in subordinate
station accomplished huge swindle ami
escaped not merely detection. hui suspicion for
many years His supcrors were certain that lie
was honest and found him diliscnt and useful.
1t Is now obv Ous that he possessed much hshcr
ability ~ Il certain sort than they Imagined;
but vet he probably did nothing Which hundreds
Of men in similar places are not mentally
capable Of doing with similar opportunities.
The managers OF the bank practically acknowl-
edge that their method Of bookkeeping was de-
fective for they have changed il; indeed II was
their preparation for the change which led TO
the dcfaultcrs confession. Undoubtedly the
facts discredit the bank examining system. II
not the bank examiners. Nor Is II by any
means the first time that one OF those officials
has been called in 10 certify 10 Il state Of affairs
which numerous periodical visits had fnlled It"
disclose Such an experience naturally dls-
uuies all whom betrayal Of trust In imam
cal establishment might injurc. and that 100 III
spite OF the confident assurance tiaI an over
whelming ma jority Of men In such places are
incorruptbc 1t will also cause renewal OF
discussion over various devices for reducing the
possibilities Of fraud 10 minimum and SO
perhaps tend toward the evolution OF Il more
perfect system than has yet been invented.
But in all human probability the time will
never come when character will not remain the
most important element in the management OF
such institutions. 1t is therefore incumbent
upon those who chiefly responsible for their
security to consider how they can best forufy
the integrity Of every man connected win 'hch'
We do not believe that the ways OF life ana
personal habits and associations are outside the
field Of legitimate scrutiny Nor do we believe
that meagre salaries are generally profitable In
the long run Rccompense ought TO be unlver-
sally in closer correspondence with RESPONSE
bilIty than ii frequently is, and 1t Is not true
that the time when man In place OF trust
is off duty Is his 10 employ as he may, and his
conduct exclusively his own business.