The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-10-05


Sept 26, President Mccain offers an ex-
PLANTATION OF the eolnpany's relations 10
political organizations and declares
that at the next meeting Of the board
of trustees he viii ask that a eesolu-
ton be passed to make il clear to every
pOlicy-hOlder and TO the public that the
company viii never contribute money
10 any political organization for any
purpose whatever.
Explanation by Mccall.
a copy of this letter follows:
To the Agents of the New York Life In
surance Company:
MISUNDERSTANDING TO my testimony
before the legislative committee OF the
state of New York, now investigating life
Insurance as practiced by all companies
doing business IN the state of New York,
/ desire TO cali your attention To the fol-
lowing statement, made. of course, under
oath. before the committee:
Il was a Democrat up TO the nomination
OF Bryan, when he adopted the free sill
Yer platform in 1896. | made up my mind
! would do all in my power to defeat that
candidate and that platform. and | did
II with my heart and soul ! had 40 idea
in my mind about politics at all. but [
had duty and a trust regarding the New
York Life policy-holders, and / felt that
If free silver coinage was going 10 prevail
and Bryan was going to be elected presi-
dent Of the United States, that we might
put up our shutters on the New York
Lille doors Knowing that, and believing
Il Ia 1876, l consented to payment TO de-
feat free silver, not 10 defeat the Demo-
cratic party. but TO defeat the free sill
Yer platform, and ] thank God that | did
In other portions of my testimony
stated the contribution of 1900 was made
Tor the same reason, and that the con-
tribution of 1864 was made because the
convention which nominated the candidate
of one of the parties refused, by vote
ff fx~. to 10 tn in Mo
form gold plank. while the opposition
party adopted a gold plank.
My testimony shows further that this
company has never, within my knowledge.
except in the three instances named and
for the reasons and purposes stated. con-
tTibuted a dollar TO any campaign fund
of any party in any election, general or
local
1t goes without saying that the business
of this company is not politics under any
guise The pOlicv-hOlders represent all
political parties, the agents of the COM
pany are drawn from all political Organi-
cations, the officers and home office en-
ployes represent all shades of political be-
lief; and. aside from ali that, neither the
policy-holders, nor agents nor officers.
nor employees, are associated together for
any political purpose,
The contributions made in the years III
question had nc reference whatsoever to
politics. They were made 10 meet a dam
ger that arose IN a great crisis IN the eco
nOmic development OF the country. They
were made to help kill free silver which,
If adopted meant the destruction of prop
erty belonging 10 the pOlicy-hOlders of
this company. The contributions were
made equally for the protection of Re
publIcanS and Democrats. equally for the
protection of the policy-hOlders in Canada,
Mexico, Europe, South America and other
parts of the world.
The contributions have been called ''po-
liticaf by some people because they we're
made through political party. They