The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1896-08-25
INSURANCE AND SILVER.
What Ia Thcro In tho solicitudo OF
Managers For Their Policy TToidcrs


What Is Thcro In tho soIicitudo OF tho
Managers For Their Policy uoldcrsq
The champions Of tho gold standard
arc now very much exercised at the
thought of having insurance policies
paid in cheaper money. 1t is q singular
circumstance that almost every argu-
ment (P) in favor Of maintaining the
present monetary standard has in view
the interests of those Glasses which arc
in the enjoyment of exceptional advan-
tages. The owners of fixed incomes, de-
positors in banks, creditors generally
and holders of insurance policies are OBJ
jects of especial solicitudo with those
who oppose tho FREQ coinage of silver.
Life insurance is usually payable to per-
SONS other than the insured However
good and mcritorious these people may
be, there is no equity whatever in their
behalf which entities them to bo paid
in appreciated dollars. In many cases
the policy comes to the payec Us mere
bonus for which no or sho has given alb
solutely nothing. 1t is very true that
the benefoiaries Of such policies should
be fairly treated and not bo defrauded
with Cheap" money. But il 10 not pro-
posed to defraud them with "cheap"
money. Tho hub of the whole question
is that under present conditions, with
money constantly appreciating, insur-
ance policies are now being paid with
money moro valuable than the money in
circulation ut the time tho policy was
issued and more valuable than that in
which the premiums have been paid.
If this concerned nobody but tho pol
icy holder and the insurance company,
the silver men would give themselves
no trouble about it. but in fact rising
measure of value concerns everybody,
just as cnlarging measures of weight,
length and bulk would. While the
payee of an insurance policy is benefited
by receiving money Of augmented value,
other classes arc ruined by being obliged
to meet their obligations in such money.
Tho latter are entitled to much more
consideration than the former, first be-
cause their necessities and sutferings are
greater secondly, because they are much
more numerous, and, thirdly, because
they are the victims Of the first wrong.
This was the change of the standard
from that CO gold and silver together to
that Of gold alone. If this primary
wrong cannot be righted because few
innocent persons might lose something,
then it would be impossible to ever
change any vicious monetary law, how
over destructive to the best interests of
the country, for all such changes injure
somebody.
In considering policies of insurance
there is another point that must not be
overlooked. While it is very nice
thing for the beneficiary to get "hig
dollars Of high value-this
same appreciation OF money makes it
harder for the insured to pay the pre-
MUM and thus keep the policy alive.
It is matter Of common knowledge that
In seasons Of monetary stringoncy hun
dreds and thousands Of persons are un.
able to pay tho premiums and are
Obliged to allow their policies to lapse.
They either lose the entire amount paid
in premiums or are driven to the neces>
sity of surrendoring the original policy
and taking "a paid up" ono for nero
fraction of the sum actually paid in.
Such cases are not isolated and occa-
sional, but on the contrary they mako
up very considerable fraction Of tho
total number of insurance policies taken
out Every case Of the kind involves
hardship and wrong, which find no
compensation or offset in tho fact that
some widow or orphan receives payment
in appreciated money. National BIZ
metallist.