The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1877-06-27
MISCELLANY.
.rnE sEoURIrr or IRE IssuRAacE.

1t was about thirty years ago that Life In
surance Companies were inaugurated in the
United States, and from that period until the
present time no other line of business has
been so uniformly successful. Thirty leading
companies now have invested for their policy
holders the sum of three hundred and sixty
three millions of dollars--evidence at once Of
their business success and their financial sta
bility. The recent failure, however, Of three
or four Of the smaller and least skilfnlly and
honorably managed composites, has esDsyed
public attention upon These, and as n result
unfair opinions have been somewhat general
ly expressed with reference to all This we
believe to be UNJUST and equally injurious to
the best interests of individual members Of
the community. We have studied the sub
ject Of Life Insurance with some degree Of
attention, and have carefully taken note Of
the financial standing Of the companies dur
ing the present business crisis we have al
ways thought that the insurance system en-
bodied one of the easiest and surest methods
of laying up money for the protection of wife
and children after tho death Of him upon
whom they depended for support and hence,
wo would not willingly, as public journalists,
join in the unwise outcry that has been raised
in some quarters against Life Insurance Com
panies. The money invested in years past In
premiums, for instance, as a rule has been
subtractcd from the expenses Of each individ-
ual--in other words, had 10 not been used for
insurance, it would have been spent for some
purpose Of present enjoyment, and been lost
in the using. As It is, it has been laid in store
against the day when death shall enter tho
household, and remove him who, when alve,
is himself the insurer of the easy eircum-
stances, IL moi the aifAsonry a his family
But it has been stated by those who take
panic view of Life insurance, that the recent
failures Of a few companies argues the insol-
vency Of all. The unjustness Of this. view
was recently proved in the editorial columns
Of one Of our daily Philadelphia contemporar-
les that is Of largest circulation. The writer
asserted and proved, that there was "some-
thing in good name," and that those COM
panies which had won thSSby their long, care
full, and honorable management their accu-
mutation Of large capital, securely invested
and their passage through the recent severe
and proper official investigation, by the au-
thority Of the State, without creating mis-
giving rs to their financial soundness--that
such companies are now, no less than before,
entitled to public confidence and support.
We have endeavored to arrive at some reli-
able results, in figures. Of the present COM
paratiye condition Of Life Insurance and 9TH
er business interests In this country. During
the last soua years tssg5ito 1875, inclusive) the
general mercantile failures have numbered
27,845, with liabilities amounting 10 977c,-
9l6,000 During the same period the Life In
surance failures have reached less than $10,-
600, 600 in amount. The total disparity of
these sums is apparent, and is an exceedingly
forcible practical argument in favor Of the
safety Of Life Insurance. One is far surer of
getting his money in this way, than by any
other business venture. In single year
lS76) thirty railroads, with 8, 640 milage, and
representing an invested capital Of over $2l7,-
100000, we're sold under foreclosure forty
six others had receivers appointed and ten
others have made default In payment of in
terest. One-fifth Of the entire railway milage
of the country is thus financially wrecked,
while almost the entire number of Life Insur-
ance Companies are securely upon their feet,
and have triumphantly endured the ordeal Of
an official and critical examination of their
assets and liabilities. During the five years
from 1871 to'1S75 inclusive, years ali OF them
Of great financial depression, thirty-eight
companies have paid policy claims amounting
to $11S 494, 90s, to 40 600 families, that is ov-
er twenty-five and half million dollars a
year-an immense sum, and dispensed, too,
during tina " hard times, when money has
been of the most worth, and given to families
that most needed II. This is u forceful exhib-
it of the present value and reliability of Life
Insurance.
Those who are led by false views not to in
sure now or having insured, to permit their
policies to lapse through non payment Of pre-
miums, would do well to impartially consider
these facts. The large majority Of companies
are sound, and certain leading ones are unmis- |
takably SO. Did we owe, for example, pol
icy in the Penn Mutual Liae Of Philadelphia
(which we do'net) we would no more think Of
disseminating It, than we should Of throwing
away omuoh money. A company that, Ike
this, has been III successful bpsinsss % thizAy
years, accumulated a reserve Of nsasi8 ok
millions Of dollars, and . not surpi0s over III
liabilities, Of over one million dollars, Ii en-
titled to the confidence Of those who would
provide for dear ones. now dependent upon