Year: 1866

tianlty, Protestant and Catholic, is evidently
on the road to some new and wonderful
Another Bank Embezxlsmen, is Re-


sponsibIee


The case of George n. Briggs, paying teller
of the Nassau Bank, as reported in the HERALD
Of yesterday, reads almost like romance.
For some time past the officers OF the bank
seem to have been aware that some one Of
their employees was robbing them, and
they even traced the deialcati0ns TO the Clear
ing House Department Unable to ascertain
who was the guilty party, they fixed upon
young man named Afick, because he was the
most recent Of their attaches, and intimated TO
him that he had better resign his position,
which he did. The defalcations still continued,
however; but the bank officials appear to have
been satisfied with what they had done in re-
gard to Mi. Afick, and affairs driited along
without anybody being further disconcerted.


In the meantime some Of the detective po-
licemen noticed that gentlemanly person was
in the habit Of frequenting the gambling
houses along Broadway. How the detectives
happened to know where the gambling houses
are, and why they do not break up these in
stitutions since they have this knowledge, we
shall not pause to inquire. AT any rate, the
detectives observed the person in question, and
upon making certain inquiries about him they
were informed that his name was Briggs that
his business was that Of paying teller in the
Nassau Bank, and that he had been losing
very large sums of money Although
the detectives did not know that the
bank was being robbed, they very wisely
thought it their duty to inform the President
Of the discoveries they had made. The Presi-
dent at once jumped to the conclusion
that the losses Of the bank and the
gambling operations Of Briggs were init
was arrested. Being in custody he at once
confessed his crime, thus vindicating Mr.
Afick, who now learns, for perhaps the first
time, the reason why he was advised to resign
his situation. The losses OF the bank are re-
ported to be between fifty and one hundred
thousand dollars. Briggs had almost un-
limited control over the funds, and the re-
porter states that the confidence reposed in
him as paying teller was SO great that he was
enabled to abstract from $500 to $1,000 at
every haul without exciting suspicion.


This narrative gives us pretty picture OF
the manner in which business is conducted in
our financial institutions. We hold that the
President and directors Of the hank are d-
reotly responsible for Briggs embeszlemsnts.
With the Windsor and jenkins cases before
them, they cannot complain that they have not
been amply warned of the dangers to which
they were exposed. Yet when they ascertain
that the funds are being embezzled by some
body they do not institute any rigid iuvesti-
cation. but are satisfied to dismiss a young
man against whom there is mo ground
Of suspicion except the newness Of his con-
nection with the bank. All this while, too,
they leave the paying teller in position in
which he can steal any amount OF money with
out their knowledge. What ordinary mercan-
tile establishment is conducted in this loose
way? What merchant is so careless as to give
his employees the opportunity to rob him of
100000 without detection? These things
only occur In a bank which il chartered
especially to take care Of money. Had it not
been for the accidental observation of the
police, Briggs might have gone on embezziing
for years, until his one hundred thousand dol
lars became million. How many more men
OF his stamp are engaged in the same sort Of
operations in other banks ii is impossible to
say. After every case of embezzlement we
have urged the bank officers to make thorough
Investigations; but they will not listen to good
advice. The presidents strut about and do
nothing the directors meet once month and
do nothing and by and by the cashier or
teller runs of with the funds, and oil con-
cerned are greatly astonished. We are only
surprised that with such splendid opportuni-
ties the defalcstioas are not more numerous.
Some 6ne day one Of our great banks viii fail
through those robberies, . score or twu OF
merchants will be ruined and number Of
widows and orphans reduced to beggary; and
then. perhaps, we shall have An outburst of
popular Indignation and q complete reform.