Smith was elected Governor in 1934 and served from 1935 to 1937.[8] During his administration, the state legislature approved old age pension and unemployment compensation laws.[9]
In December 1936, Smith and other Marble Bank officials were charged with fraud for failing to inform account holders and authorities about an embezzlement. In May 1932, Smith had learned that his bank's bookkeeper had stolen $251,000. Smith let him leave quietly, kept the theft secret, and charged the loss against the bank's surplus.[10][11][12]
In July 1935, the bookkeeper was named Rutland's Assistant City Treasurer and planned a candidacy for Treasurer. To prevent this, his opponents leaked word of the theft to the press. The bookkeeper was convicted and jailed, and the bank Treasurer received a suspended sentence and a $400 fine. Charges against most other parties were dismissed, and Smith was acquitted at his trial.[13]
Personal life
Smith married Mary Aurelia Stark and they had three children.[citation needed]
In 1936, Smith was injured in a car accident and his health began to decline. He became ill in June 1937 and died on August 12, 1937, aged 69, just eight months after leaving office.[14][15] He is interred at Evergreen Cemetery, Rutland, Vermont.[16]
References
^Hartford Courant, Obituary, Mrs. Charles M. Smith, February 24, 1935
