Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1877-06-15
"YE ANCIENT oRDAIRE.n


This is the sarcastic caption of
an article we published yesterday
from the Insurance Monitor. The
editor of that journal, Mr.. G. G..
Hine, is recognized as one of the
best insurance editors in the coun-
try; what he may say, therefore, is
entitled to attention. The wane
and fall of life insurance companies,
universal distrnst and the growth
of mutual protective associations,
assuring the benefciaries of mem
bers a net benefit of one or two
thousand dollars, seem to be the
cause of this incorporate article,
which starts out with ridicule, pro-
ceeds to argue, and ends by appeal
ing to the dupes to keep out of an
association in which they will be
feeced by the managers. This last
advice given seven years ago and
applied to insurance compa-
MES would have secured to
many a poor man the comforts
of a good home. Life insur-
ance proper has oeen cruelty
oyerdone, and it is rather late for
life insurance men to warn the peo-
pie against cooperative shsms.
There are yet good companies, hon
estly conducted, safe and reliable,
and able to make good all their
promises, but their number has been
growing beautifully less for several
years. Some of the biggest, and
apparently the best, companies have
gone by the board. We need not
enumerate; their wrecks can be
found all the way across the coun-
try, from Texas to New York. The
most attractive and fallacious state
ments have been put forth, soword-
ea and constructed that no one but
an expert, who had spent years in
the business, could strip the cireu.
lar Of "glittering generalities." As
long as there was plenty of money
in the South, all the Northern
companies had agencies here when
millions upon millions had been
drained from us, and men reeled as If
from ioss oi DioOd, many Vi THESE
companies withdrew their agencies,
and not only ceased to solicit new
business but to make forfeitures of
policies easy and probable. Theu-
sands have thus been discouraged
or disgasted, forfeited all benefits,
or taken such small and yalueless
paid-up policies as the companies
see CT 10 issue. Statements are an
ingenuously contriyed that the un-
wary can no more understand
them than a table Of astronomical
calculations. Men can be found
in every ayocation Of life, from the
successful merchant down to the
discharged clerk or laborer, who
will admit that they were misled
years ago into taking too much
insurance, and found it an insup-
portable burden. There are many
who invested all their spare
savings and profits in life iusur-
ance, believing they could carry
it until old age or until promised
dividends made it easy to carry, ant
thu at last leave their family in
affiuence. Very few such dream
have been realized. With all thes,
undeniable facts staring us in tn,
face we are still an advocate Of lif
insurance within proper bound.
and in good companies, but w
want fewer and better companies
such as will make plain bushes
statements instead of delusiv
aud b~ewildering promises. 1t i
the duty Of every man to max.
some provision for his famil,
against the day of want or sudden
death, but many a well-meanin,
man cripples his energies ant
breaks down by taking on agreatet
burden than he can carry. In ad
dition to the ordinary miscalcula
tons which all men are liable t.
make in regard to their own ability