Muscatine weekly journal. [volume] (Muscatine, Iowa) 185?-1890, 1858-02-20

to the advantages Of life assurance. friend
having furnished as With very satisfactory
article on this subject which appeared some
time since in Harpsr's Weekly, we will con-
dense few items from it, for the benefit Of
those who may desire information on this
subject: s..,.,......,s "a.
This system of providing for the support
Of widows and Orphans is Of comparatively
modern date. At the commencement of this
century there were but eight companies in
England. Now there are over two hundred.
and the greater part of them have sprung up
since lS40. The aggregate amount insured
by these companies cannot fall short of sew
On hundred and fifty millions of dollars.
The habits and feelings Of the French are
such as to afford no encouragement to life
assurance, and the companies that have been
organized there have all been wound up.
In 1927, the Life Assurance Bank of Go
tina was established which has not emily be-
come the great institution of Germany, but
of the continent. In 1854, there were but
thirteen companies in Germany, which have
taken risks in the aggregate to the amount
Of five hundred and City millions ST dol
lars.
Up to lS45, life assurance attracted but
little attention in the United States. In
February of that year the Mutual Life Insu-
rance company of New York was organized,
under charter from the State, and the light
which it diifused by its publications and its
careful and successful management opened
new era on this important question.
The Equitable Company in England is
one of the oldest now in existence, and has
accumulated a capital of upwards of forty
millions Of dollars. The Gotha in Germa-
ny has upwards of seventeen millions and
the Mutual Life of New York, on the lst of
January, 1857, had accumulated 50, lS6, S4S
SO. We have not seen the report for Janu-
uary, 1858, but am informed that it shows
an accumulation of over four millions Of
dollars, loaned upon real estate with mort
gage valued at twelve. millions.
These companies in the order in which
they are here enumerated are the leading
companies of the world, and it is a notice.
able feature that they are all on the mutual
principle The Mutual Life, of New York,
is an institution of which Americans may
we'll be proud. Its success is without par
aIiel. In 1874 it had an accumulated fund
of $37 ,293; in 1858 it is over 81 900, 1000,
and if its succe IS in the next fifteen is equal
to the past fifteen land we believe it will be
even greater, for it is just beginning to be
known when it is thirty years old it will
have a fund of over $25, 100000. What a
vast sum to be accumulated for the benefit
of widows and orphans!
The amount this company has paid to
policy holders might be computed in dollars
and cents; but the solace and comforts it
has furnished thousands who would o:her-
wise have been destitute, can only be ina
gined. ra
Why our citizens have no. more generally
taken advantage of life assurance to make
provision for their families in case death
should PROSTATE their plans, we do not
know. There is but one question, it ap-
pears to US, that men should ask themselves
who are immersed in business with all its
uncertainties and failures, and that's, wheth-
er the company is good one, in which they
propose securing policy? If you insure
an invoice of goods in n Marine Company,
all that you want to know, is whether the
Company is, and will remain good till the
vessel makes her voyage. If you insure
your house, all you want to know is will the
Company be solvent for the term of your
policy and, if both should be lost, and the
Company fail, you have your hands left to
commence anew. But in securing compe>
tence for the wife and little ones after their
stay and support is gone, you want to know
something more than the present solvency Of
the competency You want to know what
are its prospects for perpetuity, and what
fund it has to draw upon in case u pesti
lence should sweep over the land. The fact
that company pays policy is no evidence
of its stability, nor its good management.
1t may be paid merely for the purpose Of
getting the confidence of the community, in
order to involve them deeper in contcm-
plated failure.
There is probably no business in the whole
range of monetary affairs of which so little
is known, as that Of life assurance, and
there has probably been no time in the his
tory Of this community in which our citi-
zens should think SO seriously Of availing
themselves of its advantages. Under these
impressions, then, we have penncd this arti-
Gle, trusting, that at some future time it
may make the widows heart glad with the
plenty it may be instrumental in securing
her to feed, clothe, and educate her chill
drsn.
THE RAPIDS a meeting of the Chamber
of Commerce Of St. Louis was held ON the
18th inst, for the purpose of taking into
consideration the improvement of the Rapids
of the Mississippi, near Keokuk and Rock Is
land. Tie following resolutions were passed
WHEREAS, An application has been shade
| to Congress to discontinue. the pres, mt sys-
t. N. of improving The rapids of the Missis-
sippi, near Keokuk and Rock Island, and to
| grant aid to the company organized in keo-
kuk in carrying out their plans; therefore
Rtsolued, That the Chamber of Commerce
of St. Louis demonstrate against any such
change Of appropriation, unless better and