The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-02-17


ter. calling for the investment OF immense
sums Of money by the masses, have not
prospered. which teaches that while most
other nations are investing largely in spec
ulative enterprises of one sort or another
in America the surplus funds of the multi
of life insurance
1T must be understood that the insurance
companies make no objection to any rea-
Sonabie taxation for the privilege of trans
acting business in State and for the main
tenance of the government of the State.
While there is disposition in many direc-
tlons to make hostile legislation against life
insurance 1t is gratifying to know that the
business, in spite of it, is growing at a rapid
rate, ana especially among the industrial
class, and the time is not far distant when
practically every citizen who enjoys the
right of suffrage will also enjoy the protec-
ti0n of an inSIIra rca nciic1~ nj, ~, ~, - i,1l
not expect 10 find opposition to insurance
from. any one, and the great institution of
life insurance will perform in the fullest
measure its great work to humanity
Every. State in the Union should be an
earnest earnest friend Of life insurance, as we'll
insured community means better state of
morals and a higher order of citizenship.
Lie insurance encourages sobriety, as no
insurance company Will knowingly insure
the Incorporate; it means economy and fru-
galty; IT encourages thrift and indeDend-
ence; it means a smaller class Of denend-
ents on the State, fewer occupants of the
poorhouse, the penitentiary and the Jail;
II means a less number Of unfortunate or
phans placed in the city and state asylums:
II means the creation or q fund for0 the
rearing, protecting and educating of nm
born generations. placing them, beyond the
need of the States aid or care. 1T NAV be
said in truth, every State could well afford
to pay bonus for the privilege of having
insurance transacted within its domains
rather than to be deprived of its benefits
In fact, the time may come when a State
will compel its subjects to insure their lives
Tor the beneht OF those for whom they
could not otherwise provide. The wisdom
of this course has been advocated, and, to
certain extent, put into practice by one
OF the, worlds greatest statesmen-Bis-
marck."
MR.. SHEERIN's TOAST.
S. =. Sheern next discussed ''The Bust
ness Sense of Life Insurance" Among other
things Mr.. Sheerin said:
"A healthy man is entitled to healthy
insurance company; the insurance company
should have much better health than the
man. There should be no doubt as to which
will live the longer. There are a number
of good insurance companies, the best are
none too good for wife and children. The
question of cost should be a secondary con-
sderation Unreliable insurance is dear at
any price. Good insurance can always be
had at fair figure. 1t is good business
sense to get the best. We do not make
wagon spokes out of Alder stalks steam
boilers out of tin plate, or soldiers monu-
ments out of soft brick No business can be
honestly conducted without honest earnings,
ami q fair profit to those engaged in 1t. The
man who wants to give something for moth
ing will always bear watching. The bus
mess sense of life insurance is the same
as the business sense of any other honest
fair price for what you get. and deal only
with those who are in a position to deliver
to you what you have paid for
THE PRESS AND INSURANCE.
Charles r. Williams. editor of the Indian
apolis News, responded to the sentiment.
THE Press and Life Insurance" In the
course of his talk Mr.. Williams said:
1.-THE prevalence of misunderstanding and
mystery among the people (as to life insur-
ance) seems to me to point out an impor-
tant field of effort to the press. There are
certain principles in life insurance which
are now pretty definitely established. The
business may still be in some of its phases
in an experimental stage Of development.
We do not know all about it, Experience
has not been long enough. But we do know
some things that are So and many things
that not so. Everything is not chaotic
and haphaZard and occult The press, 1t
seems to me. can do much--should do more
than it has done in view of the far-reaching
significance and appeal of the interests in
volved-to enlighten the public on the fun
damental prir ciples and possibilities of HE
insurance. 1t should insist, when new COM
panies spring up offering at alluring rates
the earth and an option on the whole solar
system, that life insurance. no more thar
anything else, can make something out OF
nothing. 1t should insist when law
makers, imbued with the popular ignorance
and poular prejudice or led astray by de-
signing schemers, are seeking 10 enact
their ignorance evil intent into law. that
the experience of older communities, which
have already fought their way, through IN
Vulnerable difficulties and failures, into the
open of clear understanding and wise regu-
lation. should go for something. Here III
this State our laws defective, and no
sufficient provision is made for the super
vision of the business. The press should
help to make clear the need OF reform, ana
should not hold its peace until reform IS
secured. The press should also penetrate
deeply enough into the facts and the func-
ton of life insurance to be able 10 point
out the fallacy in thinking, and to lay bare
the impolicy in the proposed action of Gov
ernor and tax commissioners when they
r0plr IN For n n
future possibility into present actually.
And toward the life insurance companies
themselves-even the best one-the one
which each of you Representative press has
d duty to perform, as 1t has toward all
other institutions which act as guardians
and trustees of the savings of great masses
of people. 1t is very easy for abuses TO
spring up and grow into lusty life. Pun
licty is the great conservative force to
prevent abuses in government and III public
enterprise Let have the facts not in
cunningly devised reports that no man but
an accountant can understand, and he only
after coaching, but plainly stated 50 that
he who runs may read. In the past the
press has served the country and the cause
of life insurance by acting as critic ana
censor in many important instances. 1t was
the New York Times, for example. that a
few years ago made the public and the
policy holders alike understand the abuses
that were threatening the integrity of one
Of the great New York companies. It's ex
posures led to a change of president and a
thorough reform in methods. Such work as
that is necessary and most valuable. For
with the vast Accommodations or capital
which the large companies now control, and
with the multitude of officers and managers
that the business requires. temptation and
possibility of abuse must increase.
THE press therefore, as IL seems to me,
stands to the public with reference to life
insurance as guide. philosopher and
friend 1t should follow the apostolic adj
vice in examining life insurance. namely. 10
prove all things and to hold fast to that
which is good 1t should try to make peo-
pie and government understand what sound
principles of insurance demand. 1T should
try. by it's criticisms and eXpositions, to
protect the people against the impossible
schemes which men like Mr. Montague
Tigg and the great Somerby are always
seeking to exploit.
c. r. Tillmghast introduced by the toast
master as the man who must go thunder
ing down through the ages as having
brought to his company 100000 of bust
ness in few years also formerly of C1eVe-
land. now of New York spoke briefly. Il
believe that in union there is strength. that
the jackaIs and vampires will be driven out
before the sun of our association and all
abuses will be entirely done away with,
said he.
Dear old Admiral Brown" was next
called on by Mr.. Peck. He said that he had
the express understanding that he would
not be called on TO speak when Mr. Newlin
asked him to talk about assessment COM
panies a subject of which he knew but lit
tie and could not speak with patience. The
only assessment company in which he had
any faith was the Navy Mutual Aid Asso-
citation which was conducted without eX-
pense other than for postage stamps, none
of the officers receiving salaries.