The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-23
Life Insurance.
RUTLAND. Sept. 10th. 49,;

~ ILAND, sept. .Dtn. 1875.
Editor 81 he GloJe: You must look to
your laurels Mr. Editor You would
scarcely have thought it, hut IT is a fact,
we have an Insurance Editor in our midst.
He writes for your rival around the
corner. His latest production is the
leader In H6roM of last Thurs
day. AS a piece of stupidity and
gross ignorance ii is entitled TO the first
premium and leather medal in addition.
He says ''thc Eclectic Mutual Life In
surance Company has faied.' This
illustrates his thorough knowledge of the
subject There never was company by tina;
name in New York or anywhere elsewhere.
But that makes no difference TO the Insu-
rance Editor Whether he has COMPOUNDED il
with a company whose name is somewhat
similar which has failed, or with COM
pany which owns u part OF the above
name which has not failed mo teller
knows"
His wall is confined TO life insurance and
his pet aversion is ''the brigade of agents"
Fire insurance and all manner of mercantile
business, andb buying and selling of every de-
scription, is done through agents The
very paper for which he writes is daily
paying larger commission to its agents
than is paid by any life company. Yet,
according to this luminous writer. it 10 the
life companies only that should do their
business without agents If he knew the
A b G of the subject he undertakes to
write leaders, about he would know that at
least one company in this country, for sew
eral years did not employ any agents 1t
has now small ''brigade of agents, and its
business last year was transacted at proper
tiOnate expense of about two-thirds what it
cost during the years when it had no agents.
Again one of the oldest life offices now
doing business, has for over hundred
years, paid no commission TO agents, and il
has been distanced by the agency COM
panies not only in amount of business and
benefits conferred, but in the cost of insur-
ance. lie says further ''To onr own
knowledge many widow and helpless or
phan he's been made comfortable by the
proceeds of life policy that would other
wise have been subjected to beggary and
suffering" Here's logic for you, whole
chunks of it, viii the insurance editor in
form us how many of these widows and
orphans were saved from poverty "ithoat
the aid Of an agent! But he says these
companies are expensive enterprise" yet
he pays fire company TO insure his house,
and the fire companies are twice as cXpen-
sive as the life companies. More logic.
lie says agents advance theories (which
are an insult TO common SENSE" He ought
to be thankful that he, at least, is in no
danger. He complains that agents have
costly signs Does no other business have
costly signs! The costliest sign in town
is owned by the fire agent, who numbers
among his patrons the Insurance Editor
aforesaid. Logic again There is nothing
like logic, Mr.. Editor
But he says one company has failed. lie
thinks II is the Eclectic Mutual Life" but
Hc II Hot NtTtdiH, iNndl ; Ill name 10 me
Insurance Editor hence he proceeds to
ventilate his ignorance and string together
lot of platitudes.
Did he ever hear of the failure of u fire
company, of bank or trust company. or
savings bank Why does he select life
insurance alone, which Is conspicuous
among the financial institutions of the
country for the fcwncss of its failures, TO
warn his readers against it? Why not let
healthy competition and the law of sup
ply and demand govern this as it governs
other businessy
There was once life company in New
York called "Thc Widows and Orphans
Benefit 1t was always weak concern at
the best, and ranked among the poorest
companies. The widows and Orphans"
had an agent in Vermont. Why he select
ed that company instead of first class
one cannot say. Perhaps because they
paid larger commission, Whether he had