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New York Financial Scandal
Topic Started: Feb 13 2010, 08:59 PM (95 Views)
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An Empire for Liberty

December 15, 1838

A financial scandal has rocked the country after it was discovered that the collector for the port of New York, Samuel Swartwout, had been abusing his position and embezzling money for nearly a decade. An investigation by authorities revealed his accounts were in arrears to the tune of $15,045,969.52 (1838: $1,225,705.69).

Mr. Swartwout, a longtime Democrat, was known for working closely with President Jackson during the election of 1828 and was one of his first political appointees when Jackson took office in 1829. Following the expiration of his term in March of this year, Swartwout left the United States to manage some property he owns in England, apparently absconding with the money.

Whigs have created a sensation around Swartwout's escape, raising questions about the Jacksonian "spoils system" and arguing for a return to the bureaucratic meritocracy of the Federalists and Jeffersonians. Some national party leaders are suggesting a comprehensive civil service reform bill be introduced in Congress, but with the Democrats still in control of both houses following the midterm election, it is unlikely that any such measure will pass soon.
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