The broad ax., 1896-09-19

Policyholders In the Connecucu Au-
tual Life insurance company recently
! received q letter from Col JACOB La
Greene, president Of the company. CALI
ing their attention TO the probable Ell
feet the victory Of free silver would
have upon life insurance policy mold
en-
The letter begins with the assertion
that IT never was thought necessary 70
provide that either premiums or poll
eies should be paid in any particular
kind or quality Of dollars, il being as
sumed that the American people were
sufficiently honest 10 keep their dollars
worth their fare value But now, Col
Greene says, comes a political party
ayoving its purpose 10 make dollar
mean three distinct and different
things-to wit: A gold dollar, worth as
bullion 100 cents; a silver dollar, noT
worth as bullion only 50 cents; q pa
psr promise Of q dollar 70 be issued
hereafter by the government redeem
able in 100-eent gold dollars, Scent
Tor less) silver dollars or in new prom
ises to pay, At the option Of the debtor
or redeemer. The least valuable OF
these dollars would remain In use. We
should be on the single 52-cent dollar
basis, and then the purchasing power
Of policies would be cut in two.
The change to q silver basis" the
letter continues, would stimulate the
production Of silver. The ores now
are easily accessible in suca vast guam
titles that under such changed condi-
lions the price would steadily decline.
On q silver basis your policies would
for the present be paid in dollars
worth only about so cents, and the bulk
Of them probably would be paid in dol
lars worth from Is TO 80 cents. We
therefore warn you that as It is your
duty to make this provision for your
families % ii is your present duty TO see
that no part Of that provision is lost"
]. C. Roberts OF Chicago recently
mailed the following reply to Col.
Greene:
Jacob l. Greene, Hartford, Conn:
Dear Sir-A copy Of your circular
to your policy holders has been handed
to me and / have examined 1t careful
", and In my opinion you are treading
upon dangerous ground. There is
an old adage which runs something
like this: Folks that live in glass
houses should not throw stones How
ever, you have thrown down the gaunt-
let, and as an advocate Of free silver !
accept the gauge Of battle.
Il have had some experience with
life insurance companies, both as q vic
tim and as an attorney. l have been
called upon five times TO defend the
widow and orphan against the scoun-
drelism Of life insurance companies,
and have won my suit in each case. /
have ever found that the weaker and
more defenceless the beneficiary the
more arrogant and INSCRIPTIONS was
knowledge Of the companies generally
] doubt IL there is an insurance presi
dent alive that would not sit up nights
from now until the November election
to study out some scheme to beat the
policy holders out OF ten cents on the
dollar.
AS business proposition your cir
cular Is failure, for II there is any
thing the American people never will
submit to II Is coercion, especially upon
their right to exercise their own judg-
ment in voting. AS political propo-
sftion you have done more to help the
cause Of free silver than any other rich
man In America.
Life insurance is something that the
public knows but little about These
institutions have posed as eleemosy-
nary concerns, when as a matter Of
fact they rank but little II any above
the old Louisiana lottery.
But you have declared war, and to
the utmost extent OF my power the
public shall be fully informed upon the
methods and schemes Of your class. /
shall make $50 speeches upon the
stump between now and election, in all
Of which / shall advertise the life in
surance business, and your company In
particular. The war will not end with
election / shall carry the fight to the
state Legislature Of Illinois and to the
congress Of the United States, and en-
deavor to secure the passage Of laws to
restrain the present companies from
further power to continue their Illicit
gains
81 am well versed in the statistics Of
life insurance, but shall leave no stone
unturned nor spare any expense To -
cure all the evidence necessary to show
that your interest II not In your policy
holders, but that a. the largest money
lenders In the world, you want to make
money out Of its scarcity.
Il win show that II does not cost 10
per cent Of the money nlched from Ihs
people to pay the death losses; 81 per
cent Of all the policies lapse. OF the
other Is per cent, die and 6 live; the
last 6 pay in more money than they
receive. These facts. together with one
other, which Is that the principal ex-