New-York tribune., 1896-11-28
STdTESHANSHIP IN KANSAS.

The Kansas POpuliSts are still brOOding over
the distressing condition into which their STATE
has been plunged by the Vaccinations or the
Money Power of the East. and incubating plans
for throwing off the grinding tyranny which has
so long and so cruelty oppressed them. by inc
last election they have been placed IN iui con
troll OF all branches Of the state government
executive. legislative and judicial Al conr'r-
ence of one hundred leaders Of the party at To-
peka. which closed on Wednesday night the
rather important question what they will do
with the power ntrusted to them was discussed
The main purpose Of the conference appears to
have been to lay out plans for Legislation during
the coming winter TO circumvent the diabohcal
designs Of foreign cOrporatlons especially OF HE
insurance companies and loan ana investment
concerns AS one result Of the conference. II Is
proposed to enact a law compelling life inslr-
ance companies TO invest AZ least 10 per cent OF
their Kansas premiums In Kansas securities, the
same 10 be deposited with the State Treasurer.
This. being in the nature Of prohibition. would
undoubtedly be effective in driving foreign life
insurance companies out Of the State. For no
well-managed company would even think for Il
moment Of complying with such requirement.
In the first place. under Populst rule there are
no Kansas securities. There may be risks and
gambling chances and in-securltes. but nothing
that can by any stretch Of fancy be called se-
curities In the second place no corporation hav-
ing any regard for its own solvency would take
the risk of depOsiting anything that has value
with an official elected upon platform Of re-
pudiaton of honest debts
more practical way to get even with the
companies for all the wrongs they have inhct-
cd upon Kansas would be for all the POpust
policy-holders to make way with themselves
That would put an end 10 sending money out of
the State in the form of premiums. to the i'm
poyerishmept OF citizens. and would bring in
money by the bushel-good money. too, worth
one hundred cents on the dollar-to the enrich
ment of the families Of policy y-holders and the
depletion of the OverfOwing Golfers Of the cor
porations That being done. home companies
could I've organized to conduct the business Of
life insurance Not stock companies, to be sure.
for Kansas citizens are proverbaly shy of in
vesting money in their own enterprises, even in
railroads, when other people can be induced to
take the risks. But they have such unalloyed
confidence in each other that 1t ought to be the
easiest thing In the world to organize com
panies Oh the mutual plan. the profits of which
would remain IN the State. And the credit Of
Kansas being so good in adjacent POpulist
States. a fine field for the extension of their
business would be offered in Nebraska. Missouri
and Arkansas Still, 1t isn't always safe to do
your own Insurance In ordey to keep at home the
money paid in premiums. The enterprising
citizens OF Chicago, 1t may he remembered,
several years ago undertook to insure them
selves against fire in home companies In pursu-
ance Of this policy. One day the city burned
down, and the Chicago companies went under
Almost the entire losses were paid by Eastern
companies Still. the experiment of insurng
their own lives is worth trying by L Kansas
POpulists.
As TO the loan and investment cOmpanies the
Kansas statesmen only propose to put them I'M
der control Of the State Bank Commission. and
compel them to submit to a thorough investiga
ton Of their business. II they cannOt make q
satisfactory showing, they are to be prohibited
from doing business In the State. For they say
these POpulIst leaders-that 'the thousands
"of wildcat money-lending schemes that have
'.been permitted to plunder the State have done
more to destroy Its credit than all other causes.
The logic Of this assertion Is not 80 clear as 4
might be; but, then. logic Is not the stronghold