the merchant is liable to lose his own money by negligence; in the other, the president and directors lose only that of other people, and thus a criminal betrayal of trust is added to swindling. Now, these blots on the national escutcheon are of comparatively recent date, and are the result mainly of two causes: the late war, which suddenly elevated an ignorant and ignoble class to enormous wealth, and the corruption of politics and politicians by the unguarded and unchecked abuse of universal suffrage. The shoddyites and the politicians, having no claim on the respect or esteem of honest men, commenced a career of extravagance and vulgar display, which, if it did not win the approbation of the judicious and refined, certainly was well calculated to dazzle the moral vision of the vain and unstable. Palaces, diamonds, and resplendent equipages became the order of the day, and their effect on the integrity of the staid men of business was marked and deleterious in the highest degree. Mrs. A., whose husband before the war was doing a thriving little business and was content with an occasional drive in a hired light-wagon, now enjoyed the luxury of a private carriage and liveried servants; consequently Mrs. B., whose husband was cashier in a bank at two or three thousand a year, must have one similar. Mr. C., who was a resident of the Sixth or Seventh Ward previous to his election to office, and occupied part of a comfortable house, now lived in a handsome mansion on Madison or Fifth avenues; hence Mr. D., who was confidential clerk in a large importing house, abandoned his cosy cottage in the suburbs and followed his old friend's example. Now, how are B. and D. to support this luxury? Clearly, not out of their salaries. Having control of the funds and enjoying the confidence of their employers, they abstract the money and rush into Wall or New Streets to gamble in gold or stocks. They are not common thieves--oh! no; they only borrowed from time to time large sums of cash from the true owners, intending to return it; but they never do so! For a short time they are lucky, and are able to keep place in a course of wild dissipation with A. and C., but sooner or later a crisis arrives, there is "a panic in the street," and they lose all. Then follow flight, detection, and public exposure--in any well-regulated community, we might add dishonor. But it is not so; for, you see, this is the age of progress and enlightenment. The public think very lightly of such matters, probably from their very frequency, and soon forget them; the "knowing ones" condemn the fugitives only for not having been "smart" enough; the bank or insurance authorities compromise the felony for a consideration, for it is only the public, not themselves personally, who have suffered; and, after a brief sojourn in Europe or Canada, the criminals return to the bosom of their families prepared to enter on some new field of peculation.