The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-09-24

ployment to far more money than we are
likely to obtain from any quarter. If the
present threatening aspect of affairs on the
other side of the Atlantic continues, we may
hope to receive large influx of foreign
capital.
Life Insurance, and Its: Popular Estima-
tIOns
From the ". Y. Tribune.
Most of our readers will remember that a
chief result of the convention of insurance
companies, held last November, was the or
ganization of a Chamber of Life Insurance o.
the United States. The plan of this Chamber
was excellent, embodying as it did mutual
consultations and advice among the companies
upon all matters referring to their scientific
knowledge, business efficiency, and general
prosperity. One of its first visible results now
makes its appearance. 1t is a list of all COM
panies in the United States, the number of
their policies, their assets and liabilities, and
places of business. Such list would be valu-
able, merely as list, if its inform alton were
new. But the facts which it embodes were
tolerably accessible before the present issue;
and no special credit is due, therefore, to the
Chamber for bringing them forward. Nor
can the tabular statement of what the compa-
MES have done be regarded as particularly
exhibit view of shortcomings instead of sue
cess, and rather an indication of what is posi-
BILE than eulogy upon what has been done.
The total population of the United States
may now be roundly stated at $4,000, 900.
There are in force, or were on January L, only
349, 322 policies. We exclude foreign coun-
tries with American branches, and "Accident"
companies. OF this number of policies, New
York, with population of 3097 304, issued
1853 OIL; Connecticut, 92 l35 policies, popula-
tion $40, 1872; Massachusetts, 2S, 500 policies,
population 1,22l, ,432; New Jersey, u, 646
policies, population 4S9,555; Pennsylvania,
14,271 policies, population 2,311, 786. The
total population of these five States being
1880, 500, the total of policies in force issued
by them is 3l5, 1862, leaving 30, $40 policies to
be distributed over the remaining two thirds
of the population. OF course it will be said
that New York naturally absorbs very great
proportion of the business of the country, but
that does not account for the condition of life
insurance as gathered from these figures, nor
for other significant facts, such as that while
New Jersey with her 489, 555 people issues
81 GAG policies, Massachusetts,, with three
times more people, issues less than thousand
more policies.
We believe it to be strictly true that the
business of life insurance could be increased
twenty-fold by using the right means Of at
tracing the public. The benefits conferred by
the system are too little known and yet they
are as important as they are various. A policy
of insurance is at once an investment at high
rate of interest, and an available security in
many transactions. 1t represents sum of
money, TealiZable in case of the insured party's
death, often larger than could be accumulated
by the savings of many years, and certainly
larger than the premiums would aggregate if
simply placed out at even compound interest.
II the death be premature the amount is paya-
BILE at once, and the outlay to secure it may
be very triAing. The man who has provided
against the contingency of his early decease
has done simple act of prudence and Justice
which will be a source of mental comfort to
himself, and regarded by his family as proof
of his wise affection for them. Should he de-
sire provision for his old age he can, by
plan common with many companies, enter
upon an annual income at specified date, If
he makes an annual payment up to that time.
Should he wish an endowment for his daugh-
ters, he can avail himself of a method whereby
such endowment will become due. In short,
there are, in the very numerous and valuable
developments of life insurance, safeguards
against disaster to children and widows and
means by which many benefits can be realized
even during the life OF the insured.
OF the manner in which the great truths and
benefits of insurance shall be best made
known, much may be said. There are many
! agents but how are they selected, and how
! tion of their principalsl There are prOspec-
| fuses, but how much ability do they display
| in setting forth reasons for insuring and the
dangers of neglecting it, There is some ad-
vertising, but how much of it is striking and
efective2 And then the cry Of insurance is
unfamiliar to a large proportion of society. It
is not seen that thousand men may combine
to pay sum yearly, or at shorter periods,
towards a fund out of which the survivors of
each member may at his death be paid a GER
tain fixed sum- nor that the number who will
die is fixed by the law of averages so that a
strict calculation be large enough. Many
people who now regard an insurance company
as they would merely speculative corpora
tion, which may deceive them or fail, would,
if they knew how certain the results of insu-
rance are and that there is no speculation in ii,
have the faith which would attract them to its
doors. This popular education may be eX-
tended very much, and should be. We
should like to see baance-sheets with
statements plain and easily followed, and
that companies endeavOr to gain customers by
Offering to the public some training by which
their soundness may be proved, and their
liberality explained.
Whether the Chamber contemplate this kind