Year: 1873

1T almost overturns ones traditional es-
innate of average human nature to notice
the gushing confidence which leads so
many people to lose their property in that
transparent trap, which is known as
especial deposits" in a bank for safe
keeping. Whenever bank is robbed by
burglars, or disemboweled by its officers,
or bankrupted by other causes, there is a
long list Of sufferers treated to publicity
under the euphemism Of special deposit
ors, and outsiders are drawn upon for
show of sympathy thereanent. If these
victims of over-credulity would allow
themselves to be gaZetted as gulls and
quietly accept the position in which their
idiocy had placed them, there might be
room for some sympathy; otherwise not.
Here, for example, is pecunious person
who is too careless or too cowardiy-per-
haps too mean-to buy safe, In which to
keep his valuables and securities at home
under his own eye. He bethinks him of
the vaults of the bank which he glories in
being permitted to draw checks upon, and
whose officers he worships as so many
mundane divinities. 1t occurs to him that
it will be neat thing, and inexpensive
withal to hand in his tin box or envelope
full OF securities to be put in the bank
vault along with the treasures belonging
to the institution itself, and so made GER
tain of equal care and protection there
with. But it does not occur to him, or If
1t does the thought carries no force, that
he Is putting his property out of his
hands almost as effectually rs if he had
presented it to the persons who blandly
accept 1t and urbanely disclaim all respon-
sibility for either its secure custody or its
rof,.r,, u,hav, yfaI Ouoo 10 fb, or.t,-
ject Of such special deposit, the bonds, or
what not, find a lodging In the vault,
where, although their owner cannot touch
them with forty-fOot pole, score or a
hundred strangers employed in the bank,
from the president down to the pOr-
ter, can have constant access to
them, and, under the pressure of pc
culiar temptation, may at any moment
cause them to disappear mysteri0usly.
Or, even if they do not disappear, they
are in handy shape to be utilized, as oc-
casion may serve, as collaterals for loans
TO meet some temporary embarrassment
or irregularity. Meanwhile the confiding
owner comforts his soul with the sweet
assurance that he has put his darling
bonds beyond the reach Of moth and rust
and thieves, until some fine morning he
takes the fancy to feast his eyes on them,
or else reads in his favorite paper some
thing about a robbery or an embezzle-
ment having occurred in the idolized in
stitution. He then concludes that posi-
bly, it would be wise to step over to the
bank and take look at his special de-
posit. The result of bis visit is a triple
discovery that there is nothing to look at,
that his special deposit has gone in search
of the woodbine, and that nobody is re-
sponsible. And so ends his hope, in a
dream of utter darkness. The bitter Is
bitten, and the cute sponger of security
finds himself cleanly sponged in return.
This Is a frequent experience, and one al
together too frequent to be allowed to go
unnoticed any longer. just how to Obvi-
ate its recurrence may be problem diff
cult of solution so long as gulls abound
and confidence men are in full supply ;
but it does seem incredible that nothing
should be done to meet cases Of this kind.
Either the system Of special deposits
should be prohibited by law, or else those
who receive them should be compelled to
assume the fullest responsibility and be
enjOined to exact adequate compensation
for the guarantee. 1t Is not enough to let
the matter restas now, to be an incentive
to fraud and trap to credulous deposit
tors. And we must hope that the recent
lessons on this head-the $93, 600 swindle
at Auburn being the latest and most in
famous--shall not be without some salu-
tary effect.-N. p. Evening Nail.