The daily morning journal and courier., 1904-02-10

all the assets, and first obligation on the part Of the Company, to which the insurance feature is a mere temporary and easily defeasible incident. The premiums paid in estensibly for fife in- suranee have a string to them, to be used at will. which converts the Com pany into an actual Savings Bank. without the interest on deposits which makes it to the personal advantage of the depositor not to withdraw his de- posits under ordinary circumstances, and with the further and great differ ence, that whatever one deposits in the bank suffers no subtraction from it's face, and receives in addition all the interest earned less a relatively slight expense account, while the premiums paid to the life insurance company must annually contribute to losses and to relatively heavy expenses; so that the reserve which can be withdrawn is as a rule much smaller than the sum of the premiums he has paid in, and his privilege costs him out of all decent proportion.
 And not the least mischief of this practice is the fact that in reality and in the resulting attitude of mind of the insured it subord;nates the duty of protection for which alone life insur- ance exists and without which it would never be used and could never have been conceived, to the changing per sonal interests of him on whom that duty constantly rests. Under a multi tude of conditions he is frequently | tempted to use for himself the fund which alone secures that protection to | others which is still his duty, and his most serious duty. because of their ne- l cessity and their constant danger. He no longer regards his payments as Q fund permanently withdrawn from the exigencies of his business and sacredly | devoted to the performance of his un- selfish office toward his own. His con tract at once and always prefers his claim to theirs.
 And it will not be many years before the great mass of the life insurance business of the country will stand on this basis, it's continuance and not only the welfare but the existence of the companies contingent on the non-exer- else of the right of withdrawal of any
 
 and all funds at will
 1 In the midst of this sort of competi- tion, which brings an enormous busi- ness but with enormous waste. at an ex- pense which is as reckless as it is uIl- necessary, and which eontradicts every principle and method by which proper and adequate results as to the security of contracts, the cost of insurance, equity between members, and the irl- tegrity of the Company itself, can be assured. The Connecticut Mutual holds steadfast to the truth which, be it nev- CT so widely or lightly disregarded, can never be denied, that the paramount purpose of life insurance, the one and only peculiar service it is constructed and fitted to render, which it alone can lrender, and the only one worth it's ne- cessary cost even at a minimum, and the one spring of it's high motive, is 'tc defend and prutide for those whose welfare depends On the continuance of ones life and who must suffer in all their future by it's loss; that Mutual Life insurance is the equal co-operation in good faith of those on whom rests the sacred privilege and duty to pro- ! tect, to the end that the needed protec- tion may be most certainly and effec- lively given, and that by such equal cooperation the cost to each may. be made as small as possible; that the l Company which undertakes to become the instrument of such cooperation is therefore bound to shape its every plan and practice to conform to those condi- tions which enable 1t to fulfill those ends in the highest degree and with the greatest certainty in that far future to l which it's contracts extend.
 That benefceflt function of Mutual Life Insurance, in that view of it's in- I trinsic morality The Connecticut Mutu- al has fulfilled with an unequaled sue cess for fifty-eight years; and 1t moves
 toward it's future of beneficent uses ad, 1 equately prepared.
 Respectfully submitted,
 JACOB L. GREENE, I -f. L.-y '