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The tea table shall be set forth every morning with its customary bill of fare, and without any manner of defalcation. No reference to embezzlement there! This line, from a 1712 issue of Spectator magazine, is an example of the earliest, and now archaic, sense of "defalcation," which is simply defined as "curtailment." "Defalcation" is ultimately from the Latin word falx, meaning "sickle (a tool for cutting)," and it has been a part of English since the 1400s. It was used early on of monetary cutbacks (as in "a defalcation in their wages"), and by the 1600s it was used of most any sort of financial reversal (as in "a defalcation of public revenues"). Not till the mid-1800s, however, did "defalcation" refer to breaches of trust that cause a financial loss, or, specifically, to embezzlement.
First Known Use of defalcation
Legal Definition of defalcation
1 : failure to account for or pay over money that has been entrusted to one's care; also : an instance of such failure — compare embezzle, misappropriate Editor's note: Defalcation does not necessarily involve culpability or misconduct.
2 : a failure to meet a promise or expectation <the school committee's defalcations did not end with its refusal to submit a desegregation plan — S. L. Lynch>
Origin and Etymology of defalcation
earlier, deduction, lessening, shortcoming, from Medieval Latin defalcatio discounting of debt, from defalcare to cut down, deduct, from Latin de- away from + falc-, falx sickle
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