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Updated: May 25, 2025
Indeed, since the conference, the smaller politicians, taking their cue from the overlords, had been industriously spreading the story of the sixty-thousand-dollar check, and insisting that the burden of guilt for the treasury defalcation, if any, lay on the banker. The moment Mollenhauer laid eyes on Cowperwood he realized, however, that he had a powerful personality to deal with.
The morning that the defalcation came out, Matt sent and got all the other papers, which he had glanced through and talked over with his mother before his father joined them at nine o'clock.
This had perhaps frightened him, and being unfamiliar with the folly of such a course had backed two horses in the same race had put a hundred on Lauzanne at ten to one to cover his risk on The Dutchman, feeling this made him more secure. He would either win a considerable stake or have sufficient in hand to cover up his defalcation. The first thing to do was to find the note if possible.
Consider the fact that an exposure of the truth in regard to the details of a large defalcation in the city treasury would have a very unsatisfactory effect on the election about to be held. The Republican party had a new city treasurer to elect, a new district attorney.
In a statement on the front page that covered less than three sticks he told the simple story of the defalcation of Robert Farnum. One thing only he added to the account given in the opposition papers. This was that during the past two years the shortage of the bank cashier had been paid in full to the Planters' First National at Shelby.
Afterwards I heard of a complaint which the giant made against me, saying I had given him this morning a karoob short of the half piastre. I was greatly amused at the giant's keen observance of this defalcation of my generosity. The Ghadamseeah literally carry out the injunction, "Take no thought for the morrow," which will be illustrated in the following conversation.
A cloud has fallen over my good friend the curé, a cloud so unbelievable, and yet so dense, if it be true, and so filled with ominous mutterings of thunder and lightning, crime, defalcation, banishment, and the like, that I go about my work dazed at the rumoured situation.
"Money lender.... Abe Suviney... bled him ... early days in city bank ... fellow clerk's defalcation.... Forrester borrowed the money to cover it and save the other.... Suviney used it as a club for blackmail.... Forrester was trapped ... could not extricate himself without inculpating his friend ... friend died ... Suviney put on the screws ... to say anything then was to have it look like a dishonourable method of covering a theft of his own ... would ruin his career ... original amount four thousand ... Forrester has been paying blackmail in the shape of exorbitant interest ever since ... Suviney finally demanded six thousand to-day to be paid at once ... this has nothing to do with the bank robbery, but would look black ... added evidence...." He read on, his mind seeming to absorb the contents of the letter faster than his eyes could decipher the words.
"Another prominent feature is the love of 'smart' dealing: which gilds over many a swindle and gross breach of trust; many a defalcation, public and private; and enables many a knave to hold his head up with the best, who well deserves a halter: though it has not been without its retributive operation, for this smartness has done more in a few years to impair the public credit, and to cripple the public resources, than dull honesty, however rash, could have effected in a century.
After dinner they asked Lord Beresford to speak to them for a few minutes alone. The general was greatly surprised and interested at their communication. "Of how much did this fellow rob your father's bank?" he asked. "The total defalcation, including money borrowed on title-deeds deposited in the bank, which had to be made good, was, I heard, from 75,000l. to 80,000l.," Tom said.
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