The Lexington intelligencer. [volume] (Lexington, Mo.) 1901-1949, 1905-07-08
The SALMON FAILURE.

Every effort is being made to max
political capital out Of the Salmo.
bank failure at Clinton, The owner
and cashier Of the bank have beel
variOusly abused and yariously de
Tended, the motive in both case
being chiefly political. The trutl
seems to be, so far as truth can bt
CLEANED from the reports, that the
SalmOns after nearly fifty years il
the banking business grew tired OF
the business and careless Of the affairs
OF the bank. One Of them lived
nearly all the time 10 ST. Louis and
the other rarely ever went within the
railing Of the bank. The cashier.
who vas a highly esteemed and
trusted citizen, seems to have had
entire control Of the banks affairs.
He was a son OF a great fine stock
plunger and was singularly devoted to
his father and singularly devoted to
his fathers business reputation. He
lent his father vast sums Of money
out Of all proportion to the credit
due by any small bank to any custo-
mer. When his father failed and
died, it seems entirely probable that
he guarded the secret OF his fathers
business failure and Of the banks
enormous losses. The bank should
have closed its doors at that time,
but Mr.. Casey, possibly with, but
more probably without, the full
knowledge Of the Salmons deter
mined to make up the deficit out Of
the profits Of the business.
This is believed to be the truth OF
the case, but such an explanation does
not relieve any Of the people connect.
ed with the bank from responsibility
and from blame. There is no way OF
lodging responsibility. The Salmons
had no right to continue in such a bus.
mess as the banking business is with
out giving it their closest attention.
A farmer may neglect his farm or g
merchant his store, and it is nobody's
business but his own. But a banker
is a trustee. He has no right to profit
by his trusteeship without the con-
secration Of every business talent he
possesses to the work in hand.
This bank had been inspected from
time to time under our state inspec-
tion laws, just as the First National
bank OF Topeka, had been inspected
under the national inspection laws,
and the findings in both cases,
while not entirely satisfactory, were
not such as to cause any apprehension
upon the part Of the departments
which have this work in charge. In
fact, the effectiveness Of inspection
laws has been greatly exaggerated.
II is simply impossible TO devise .
system Of inspection which viii not
prove Intellectual in a case where there
is an intelligent and determined
effort at deceit, We are bound 10
live by faith both 10 the business and
the moral worlds. The inspection
scheme and the bonding scheme are
poor defenses againse inscriptions.
ness, and they serve to depreciate
the normal value OF trustworthiness.
1t is a wretched mistake Of the day
this, that any man will do for any
place II you will bond him and watch
him. Mr. Casey forged notes not to
profit by it himself, but to be able TO
offer the higher degree Of security
NSAhohuCu ny CICulU Dduhb. lie was
doubtless guilty Of this and similar
practices to escape the danger Of
inquisitive baHk examiners. He seems
not to have meant to rob anybody,
but he was taking desperate chances
with other peoples money. He did
not seem to realize that he had no
moral right to take any sort Of
chances with other peoples money.
There is 20 evidence of %rascality in
the circumstances of this case. But
these men seem to have pretty foggy
notions as to responsibility in a mat
ter OF trust This fogginess Of moral
ideas is n Of the most distressing
symptoms of the the times.
President Roosevelt has made
official announcement Of the Russian