New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-12-28
UEF.4LC4TiONS.

Reports Of bank dcfacations come thlckly.
only a few days ago the public was surprised
10 learn Of The longcontinued stealing OF tr'is'-
el emplove of the National Shoe and Leather
Rank Now follows the discovery OF prcuA-
zion bv a clerk in the Bank Of Commerce In
tho Inst two wears \ew-Iork banks have re
norted M least ten embellishments amounting
in the aggregate 10 over S1o0O0r. The Offend
ers are confined TO no one class or ag" Inc
mex, discovery may implicate the bank preSi-
dent or the youngest clerk. Why some OF 'h'n'
steal is a mystery They live quiet. orderly
lives. and have apparently no use Tor more
money than they legitimatcly earn. The excuse
made for Carriers peculationS that his salaIE
WAS not ADEQUATE 10 his needs. will not hold
good in view Of the statement ~ The president
If tbe Bank Of Commerce that he received
$1,000 year. He is apparently victim OF the
desire for wealth as an end in Itself Inc pre'a-
lent cry in the street about him. Get rich.
must have echoed in his ears until he took money
from the simple desire to possess II ana make
II n nucleus for independent acquisition.
The discovery OF a series Of bank irregularities
the moment one banks shortage stirs up the
vigilance Of other officers is so frequent as L"
suggest that the undiscovered crimes ar" even
more numerous than those found our. II also
MIGHT nroperly suggest 10 officials and exam
iners the proprcty Of keeping their visilah'c
in more constant use II il true that the al
ministration Of IA trust finally depends Oh the
honesty Of the trustees There il no machine
vet invented that will supply the lack OF moral
character in an individual or community. bn'
there is no reason why any one mans honesty
should be the only safeguard of any part OF Il
banks assets Less reason is there for system
which will allow stealing 10 60 on for Il series
Of years only 10 be discovered bv some accident.
1t is perfectly feasible for the affairs OF bank
10 be conducted under such an arrangement
OF checks and supervision that no irreSnlarty
can exist without the knowledge and connvance
Of AT least two persons. That lessons the danger
bv half and, If the two who are responsible
for every trust are properly watched by III"
higher bank officers and directors and subjected
to frequent and unexpected examination Of their
accounts the possibility of wrongdoing Will be
almost abolished. Only extraordinary ccvcrn"NS
or wholesale corruption can then max" inroids
on the funds.
The fact that bank defalca tons continue 10 be
discovered wear after year argues that many
are not discovered quite as strongly as the series
chance for theft. Otherwise II Is impossible 10
credit any bank thief with sanity. III the bank
bookkeeping systems are AZ perfect as the man
ayers would have us believe, the abstraction or
It's funds il impossible without discovery after
a limited period Of time at least No bank clerk
who believes that sure discovery awaits him IN
"A year. or even five years, is going To take the
first step in crime His beginning To steal
marks his belief IN the possibility OF success
ful stealing He money IN stock specula-
ton. He is familiar with finances. Il keen judge
Of values and a little Of the banks money VIII
make him rich and not harm the bank He may
fail and the shortage continue till exposure
wrecks his life. He may succeed. make up his
stealings and leave one the wiser. His hav-
ing a chance to do this Is the weakness Of bank
nagement. If he always failed, the race OF
clerks Specializing with bank money would soon
lac extinct