Vietnam or Thailand ? Vote for the TOP Country of the Week !
Updated: May 25, 2025
The reason of this case is as plain as the assertion; the cause is in itself; no man lends his money but with an expectation of receiving it again with the interest. If the borrower pays it punctually without hesitations and defalcations, without difficulties, and, above all, without compulsion, what is the consequence? he is called an honest man, he has the reputation of a punctual fair dealer.
The question was not settled even in the final retrospect, when it appeared that at the very moment that Northwick showed himself mindful of the company's interests on those minor points, he was defrauding it further in the line of his defalcations, and keeping back a large sum of money that belonged to it.
In 1829 Samuel Swartwout, one of the Tammany leaders, was appointed Collector of the Port of New York. His downfall came in 1838, and he fled to Europe. His defalcations in the Custom House were found to be over $1,222,700; and "to Swartwout" became a useful phrase until Tweed's day.
The principal argument urged in favor of the law was that unsatisfactory civil servants could easily be dropped without reflection on their character. Defalcations had been discovered to the amount of nearly a million dollars, due mainly to carelessness and gross inefficiency. It was further argued that any efficient incumbent need not be disquieted, for he would be reappointed.
Defalcations of the generally upright, derelictions of duty by the usually noble-minded, shake not that man's faith which is founded on principle: for the cowardice, or rashness, or dishonesty of some individual captain, he may feel shame, but never for the cause in which such hold commissions; he may often find much fault with soi-disant Tories, but never with the 'ism they profess.
So cleverly had the affair been worked, and so flaring were the defalcations, that had it not been for the public-spirited behaviour and generosity of two of the directors, the position of the bank would have been most seriously compromised, if not shattered altogether.
For it is hardly fair to judge Fouquet by our modern standard of financial honesty, low as that may be. We, at least, try to cover up jobs, contracts, and defalcations by professions or appearances.
In 1690 and for some time thereafter he was charged with conspiring against the Revolution Government, but after full investigation was completely acquitted. His later years were embittered by troubles in Pennsylvania, and by the dishonesty and ingratitude of an agent by whose defalcations he was nearly ruined, as a consequence of which he was imprisoned for debt.
His trial at the Paris Arsenal lasted several months. Proofs of his defalcations were numberless. His family and proteges made frantic yet futile efforts to save so great a culprit. The Commission sentenced him to death, and ordered the confiscation of all his property.
Word Of The Day
Others Looking