Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-27

endowment orders were very practical
persons. who scorned theories and doctrines
and were quite certain the endowment
orders would succeed because they had seen
with their own eyes full payments made BY
some OF their orders to their certificate hold
ers. Others of the victims admitted from
the outset that somebody was going 70 oe
they themselves hoped to get their money
out before the crash came.
To those of their critics who are 90 theo-
arithmetic, the managers of the endowment
societies answer that sufficient "lapses
may be depended upon to insure the suc-
cess OF their enterprises. and moreover that
they do not promise to limit their assess
ments to any definite ratio Of the promised
benefits. Furthermore, the "1ron Hall"
replies that it does not even promise to pay
Ssnss ssm oos ssss y only At
their literature, however, suggests dennlte
promise OF $l,0O0, and the persons who join
do not see the certificates until they become
members, and are usually then infuencea
agents than by the precise language or rs
written or printed contracts.
A High Price for q Prayer.
In some of the public meetings of the as
sociations supreme humorist seems also
to have been employed; but his ONCE must
be considered cphemeral and unimportant,
since we nowhere learn that q supreme
humorist has been admitted to any such
large participation in the pronts Of the en-
dowment societies as the supreme chaplain.
In the "Order of the Golden Lion," one Of
the officers who appeared before Justice
Allen, of the Supreme Court was asked
what position he held, and answered that he
was the Supreme Chaplain and that his duty
was to open the supreme session with
prayer. He further stated that his previous
occupation had been that of clerk in
grocery store at SIS per week, but that his
salary as chaplain was $500 per annum,
As the supreme session OF the Golden Lion
was II eld but once in two years. the cost to
the members for this supreme chaplain was
$4,000 PRAYER In the Friendly Aid So
ciety," which began business in June. 1880,
the old officers discovered method OF en-
riching themselves by the process of selling
out the corporation, resigning and allowing
the purchasing members to be elected OF.
ficers in their places. The old of1cers re-
ceived over 900 cash for this transaction,
ana the new officials managed. in 13 weeks
of the existence of the corporation. after
they had gained control, to secure to them
selves $S6,200 in compensation. When
receiver was appointed, the books and &C
counts were in q sadly confused condition,
almost impossible of being satisfactorily ad'
justed.
length of this address, and will conclude
merely with the suggestion that "the en-
dowment craze in Massachusetts," though
unique in many OF its details. is still sum-
ciently like the 'loan fund" mania in Massa-
chusetts 40 years ago, the "South Sea Bub-
BILE" in Europe $50 years ago, the "Tulipo.
mania" in Holland $40 years ago and TO
numerous other combined speculations and
swindles in all generations to prevent the
hope that the lesson which ft teaches Will
be permanent. or that any historical sketch
will be effective in preventing some similar
deusion in a future generation. In the case OF
the, Massachusetts endowment societies ft is
not enough TO sa ythst 1.-THE American people
like to be humbugged." To the greater por-
tion of their victims, connection with these
organizations has been no joke.