Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1900-01-24
Willis II. Hogan, secretary and treas
urer of the Dubuque County Farmers
Mutual Insurance Association, read Il
paper on the same subject as follows:
William uoron,s,o,,ar
William Hogan's paper.

| feel highly honored today to NEE
present some thoughts on Mutual In
surance, and its work and possibilities
1t is possible only to one 5 who has
spent lifetime in prosecuting single
purpose to successful termination t,
realize the condition under which. and
the trials through which he has passed
to crown his efforts with success.
1t is possible. therefore, only to one
who has assisted in etfecting great re-
suits by limited means, and short years
of effort to presume to speak in detail
or go beyond mere cursary view OF
success.
But we are happy to know that there
are those who read the history OF these
organizations, to readily comprehend
the fact, that many of our greatest
thinkers have manifested much con
Germ, and have given time for thought
to the principle involved. This gives us
stimulus to greater effort, and renewed
energy to accomplish more than has
been done.
In the nature OF things the business
of Insurance is entitled to and should
occupy as high plane as any other.
Its magnitude is second to that of few
other lines of business. Its underlying
principles are as sound and wholesome in
ethics, economics, and morals as any
sort OF business. The immense volume
and reach of its transactions would
naturally free those engaged in it from
all temptation to employ those dsrepu-
table practices, means, methods, and
trlcks, that are associated in the popu-
lar mind with petty mean precarious
traffic. Their is, in fact, every reason
to believe that in and about the centers
OF population where the great bulk of
all insurance risks are placed, the bust.
ness is conducted on as lofty plans as
any other large business.
The fundamental basis of the bust
ness of insurance is the doctrine of
averages. 1t is this doctrine and the
mathematical accuracy with which it
operates, that distinguishes insurance
as a legitimate business from mere
gambling. Nothing for example is
less certain than when given indi-
yldual will die; nothing is more certain
than the number of men who will die
per thousand within given time, all
OF Them being of agiven age, in given
condition as to health to start with, and
living under given set of conditions.
The same is true of nearly all the
events of life, and the constant aver.
ages of sin, crime, misery, misfortune
and suicide, and is also true of all losses
BY the various casualties of fe,such as
lire, lightning, hail, tornado and even
Of embezzlement, to which the principles
Of insurance have applied.
There is scarcely an industry of i'm.
portance in the prosecution of which
co-operationh has not been an element
of power, and tower of strength. Its
of method when applied to
Ire insurance has without doubt wild
aned the scope of its operations, in
creased its prosperity, and helped to
make it vigorous and strong. The
mutual begets faith that when loss
ZONES, you will get satisfaction in set
cement, because your friends and
1elghbors will attend to the adjusting.
1t is not surprising that cooperative