The Portland daily press., 1896-07-24
HOW 1T WOULD AFFECT INSURED.
Col. Greene Holds Positive Opinions.-Life
Beuefieiaries Have Vital Interest In
Policies

Col, J. l.. Greene, president Of the
Connecticut Mutual Life Insurance com
pany of Hartford, Ct, shas prepared 9
letter for policyholders. In his letter Col
Greene says:
This corporation has never touched
political questions or sought to influence
political action, nor would it ever do sc
unless that political action were directed
to issues involving the very lifeblood
and subetaDoe Rof that which Eve have
here undertaken to do in behalf of ssyou1
families and estates. Our contracts with
you agree to- pay 30 your families so many
dollars. There has never been any doubt
what was intended thereby.
I'VE never supposed 1t necessary to pro.
vide that you should pay your premiums
or that We should promise to pay your
policies in any particular kind or quality
Of dollars. But now comes political
party and avow its distinct purpose tic
make dollar mean three widely differ
emit things: First, a gold dollar, worth rs
bullion 100 cents anywhere in the world
second, silver dollar, worth as bullion
only 81 cents at the present time: s.third,
all the paper promises of dollars to be
hereafter issued by the government only,
redeema BILE in either 100-oent gold dollars
52-oent Tor less) silver dollars, or in new
pHUlulSbS W pays ab bu6 Opt lUD Ol Tile
debtor or redesmer.
"You do not need to be told that only
ethe least valuable of these dollars would
remain in use. The invariable experience
of all the ages fixes that fact beforehand.
And to leave no possible doubt es &c
what. tho party means and expects to be-
the result Of its proposals, its candidate
forgthe presidency declares: We are go.
ing to fight for that which some are
MI cod In, diGho
"Should this party so led come to power
upon this platform. the government dues
instead of baingspaid, as now, in gold al
100 cents, or In paper, which it now re-
deems with such gold and never with
silver, would Ibe paid in silver, or in
paper redeemed in silver, which silver ws
could use in trade at only it's bullion
greenbaoks being then redeemed in So
cent dollars, the government bonds and
their interest being paid In 52-eent dol
lars, our national bank currency, which
rests on government bonds redeemable
in 52-cent, green backs and the gold gone
from domestic circulation Into inter
national trade, we shall be on the single
52-cent silver dollar basis. One Fhundred
cent gold dollars do not swap. even for a.
cent dollars of silver, iron or copper.
Fifty two cents worth Of anything can
never buy more than 90 cents worth OF
anything else. Then the purchasing
power of your policies will he cut In
two.
Coming upon silver basis wauld In
tensely stimulate the production Of silver.
The ores are now easily accessible, in
inexhaustiblo quantity, from which silver
can be put upon the market at q profit
at 40 to SO cents the ounce, at which
price the silver dollar would be worth so
to 3S cents, or less than a greenback as
during the darkest days of 1864. Under
that stimulus and under such conditions
there can be no possible doubt that the
price of silver would steadily decline
toward the point at which it can be pro-
duoed, which, in some mines, is said to
be already less than 25 cents an ounce,
and inventions and Improvements have
not ceased.
Should we come upon silver basis
your policies would for the present be
paid in dollars worth to yoUr families
only about 80 cents: and the sgrsat bulk
of them would probably be paid in dol
lars worth not more than from rs co 81