New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-25
AN APPEAL TO POLICY-HOLDERs


CESS OF THE CHICAGO TICKET.
The following is from a circular letter OF John A.
Mccall. president OF the New-York Life Insurance
Company. to the policy -holders
The life insurance companies and associations Of
this country, operating In the State of New-York.
It appears from the report OF the Superintendent
Of the Insurance Department issued In 1896, num-
Der more than ten millions OF policy divd
ed as follows:
Industrial SS14 s32
Assessment .......... ................... G53 0s7
Total ........io4o .s75
II we add to this total the benefc,arles of the
dsra the we ana Sae at
Of people interested In the payment of claims by
1895 these several organizations paid to policy
holders and their benefciaries $685. 1903 Go Similar
Il Is Within reason to assume that the payments
to insured people, and the widows and orphans OF
ance contracted to be paid is 50 ssl, is7447.
death is certain. How shall 1t be paid? In what
kind OF doliars-dollars in gold. worth 100 cents or
surance policy itself is an agreement to pay in law
full money and the main issue involved in the
holder this question: In what comm odty shall the
payment be made? With silver dollars and and gold
with dollars worth only SO cents what may be the
effect on the SoD w and 6roRGe IN be eTsn Of
DEATH or on his business which he expects TO
straighten out with the proceeds OF his policy?
What may be the effect the competency for his
old age which he expected to derive from honest
dollars and which may be payable in doubtful dol
lars II the free coinage OF silver IS adopted? The
premiums have been paid In gold or It's equivalent.
and to compel the policy holder his family TO
accept one-haf the value that he has paid for at
the maturity of the claim would be as iniquitous
and indefensble as though he had been robbed on
tho highway.
companies could not even II they were willing.
provide for the payment Of their claims In gold
dollars The platform which he stands reads. In
part as follows: I'VE demand that the standard
silver dollar shall be full legal tender equally
with gold for all debts. public private, and we
favor such legsla ton will prevent for the future
the decentralization Of any kind Of legal tender
money by private contract
lS7O-73 when thirty life insurance companies re-
tired from business. Is too recent object lesson
to be forgotten. and its results too deplorabe TO
hermit the custodians of life insurance funds to be
indifferent to the great danger that threatens pol
icy-holders' and those depending on them. Surely It
ia not a political question that confronts u.s. and
even II II il, the vital point at issue-sound
the prosperity Of the country, the Chicago cand-
dat and platform are antagonisic, and we may
we'll subordinate our non-essential convictions to
the essential for patriotic reasons II no other
Their chosen officers may officially appeal TO In
sured and beneficiary for common and united
action against those who would greatly impair II
NOT destroy the protection that has been secured by
much sef-denial. No responsible for the man
agement of these sacred trusts should fail to de-
nounce the financial beresies or the chicago pat.
form or refuse to join in bringing about the deteat
Of their advocate