The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1877-10-31


must depone orexistrnce, will be best sub~
served by plain speaking and the most com
pet, understanding Of the length, breadth
and depth Of the present disaster. Az mat
ters stand to-day paralysis has fallen upon
tLe whole businers Of insEring lives Tho
companies that have thus far weatbered the
storm are issuing either no new pnlicies or
80 few compared with the requirements ofa
solvent business as only to sinphasIze the
general halt. Men cease to cl,mor for
lodgings in house that seems TO be tum-
bling 70 pieces. Even tho ignorant and
over cop6diDg decline 10 deposit in bank
whose credit has with reason become foot
ball 10 the street. Not only do the unin-
sured resist the Establishments OF solicitors
and remain uninsured. but nine OF oyery
ten policy holders are timidly debating with
themselves whether to continue paying pre-
NUNS even TO the sopndest Of surviving
companies. As one insurance concern after
another is forced to disclose It's real condi-
tion and passes into the list Of the dead and
the odorous, not only do the policy bolders
Of the wrecked company suffer loss. and 10
many cases bitterness of disappointment
which none can measure. but other tens Of
thousands ask themselves. what nex.7 and
between the dread Of relinquishing what
they have considered safeguard for depen-
dent ones. and the fear that each added
premium payment made from their necessi-
ties may prove to be good money thrown
after bad. they know not what course 70
pursue.
Tho situation is rendered tenfold more
difficult and mora pathetic BY the dcnse ig-
nurance regarding life insurance which pre-
walls among the insured Of al ranks. In
no ether department Of the social economy
has there ever been anything to compare
aith this phenomenal feature Of liz, insu-
rance. In no other field would il be posi-
bic 10 induce a million fairly intelligent
English speaking men to invest four thous-
aud millions Of their savings in business
system which they do hot comprehend
~ho-e working is 70 them . mystery. over
whose management they have no shadow Of
control. aud for the safety Of which they
usually accept the ASSURANCE Of paid soll--
ci,or Of that system itself Il is not dis
courteous 10 state the notoriols fact that nos
ono policy holder IN ten pssisnas or endes.
vors to understand a > prineipl 4 of life in
.uranes. 60 the ssradsess u rb,sls depends
tho value or The woEihIe.se<rs q his Yearly
Investments and peFhrfE the future comfort
OF distress Of bis .ife aud children. This
iguoranee largely voluntary and unnsces-
sary, has lcen rather encouraged BY the in-
snrance fraternity, who naturally, and per-
haps not siDfully. have preferred to do bu-
siness 90 basis Of confidence and implicit
trust rather than under tho bracing scruti.
ny Of Intelligent and vigilant creditors.
Never 10 the history OF the world has the
element Of sentinsat, unchecked BY judg-
meat and unaccompan:ed with intelligent
investigation, 50 far controlled multnudes
Uf mon ia a parely business operation. Life
companies gould hardly have been treated
with les Watohfulness, or with more com-
piets abandon Of ignorant and confiiing
trust. bad they been public charitable IN
stituiions, projected and conducted on prins
ciples Of tho Furest philanthropy and gua-
ranteed as to ii,lslity and perpetual solvon-
ey by the faith and resources Of the nation.
From this attitude II blind credulity po-
licy holders baye bad rude awakening.
Within the past five years they have di.co-
vered. apparently to their surprise. that
their policies have at best no other sccuri-
| Is behind them than that which they them
sslses hnyc placed there: that this security
j. confGed by them, for the leriod Of life
time. 10 the absolute control Of self.appoint-
ed trustees. abont whose personal character
and probable oficial integrity they usually
know nothing whatever. and that this secu.
ritJ maJ vanish. does vanish ana has van
i-hei. whenever and wherever the always
present temptation 20 fraud Or to i;s twin
crime. prphigate expenditure, has overcome
tho unmatched prudence ard probiiy Of I'M.
known and ever changing managers. X
system which deals With the dearest into
rests of humsnity--a system whose opera
tions necessarily cover long periods pftime.
Involving many changes 10 management, il
radieally md hopelcssly wrong when it
satfa ~ NNS Ftl-tc NAtthN W uHrulIOfNeu
and unWarranted confidence in the yerpn-
nial integrity and sagacity u it, self-eloct-
od conductors. instead uf resting uron the
solid foundation Of definite and conplcto
security which pionigacy cannot squsnder
nor fraud appropriate Such false aye
ten il American lifo insurance NJ hereio.
fore organized and conducted. liz suspend.
ing thread has brokeD--the system Il q
ruin.
DO Jon like Goldfish halls. Mr. Wig
gins1 4 really don't know. ioas re.
calcet attending ono
An old Greeiau philosopher siyises all
man to know themselves. Tint Ia ndyis.
irg COOL many 20 form very low and dir.
reputable acqnaintahceS.
While tho women nrc 20 busy canning
everything they cnh ~, their fingers On.
ahT dom { thoy pnt MI some Of this wealth.
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