The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1908-11-21
ket as q lamb. and in consequences Is
thoroughly feeced.

thoroughly neeced.
Instances InnumsrabIe. 'S
But there are many. many causes"
continued Mr.. Moxey with brisk lit
tie sigh. "A large bank In one Of our
eastern cities was wrecked through
the speculations of its president In
stocks; another one through specu-
lations of its cashier In the
same market. Some years ago a
large bank In the middle west was
wrecked by its vice-president In an at
tempt to corner the wheat market;
while a bank In southern city was
wiped out of existence by Its presi-
dents and cashiers speculations in
the cotton market. The number OF
cases that could be cited are In
Vulnerable, and there is not a section
of the country that has escaped. The
number of bank wrecks piled upon
the financial beach is silent monu-
ment to this truth.
"But no president, vice-president,
cashier or assistant cashier of bank
can use its funds for his own profit
without the fact being known to at
least portion of the clerks, and 1t is
through their silence or stupidity re-
garding what is being done in their
presence that bank officers are en-
abled and, in many cases, encour-
aged to take the banks money. II
bank clerks would do their full duty
there would be fewer cases of defalca-
ton by the officers than in these
sorry times.
Bank Clerks Tempted.
"And in this connection let me re-
mark that while the bank officer is
surrounded on all sides by temptation,
and some criminally use the banks
funds, one must not for moment
think that they are the only ones
connected with the institution who
are subject to temptation and who.
far too often, listen to the voice OF
the tempter and become defaulters.
Every clerk In the bank, whether he
handles a dollar of the banks money
or not, is subject to many, IL not all,
of the temptations that beset his SUI
perior officer. The defalcations by
the clerical force Of banks can be
traced to nearly all the causes enum.
Grated as being the cause of defalca-
tons by officers.
But at bottom the fault is with
the officers. Many bank clerk who
has been unfaithful TO his trust and
has used the funds of the institution
with which he was connected for
speculation, in the stock, grain or cot
ton market, or for games of chance at
the gambling house, or for betting at
the race track, or for extravagant liv-
ing, ETC., has been encouraged to take
his first false step by the loose man.
ner in which the affairs of the bank
were conducted and its accounts kept.
He saw the slip-shod way in which
things were done, by every one con-
nected with the bank, that clerical
errors in the books were not located
and corrected, and that general mis-
management prevailed. Is it any won
der that he used the funds of the
bank and took the chances of detec.
ton with such condition of affairs
surrounding him? The marvel is that.
under such conditions, more do not
succumb to temptation.
"The defaulter who is merely a
clerk in the bank and whose misdeeds
are usually traceable to lack of prop
er supervision of his work by his
superiors is generally brought to book
for his dishonesty. He is usually con-
victed, poor fellow. He has no infiu-
entail associates to use their power to
shield him. He has no money or
wealthy relatives or friends to employ
able criminal lawyers to defeat the
ends of justice. The bank officer, on