Omaha daily bee., 1905-11-22
GUs LETTER BOX,
Expensive Advice.

OMAHA. Nov. 90.-To the Editor OF The
Bee: Advice is cheap. but II YOU take cheap
advice you will often find that Il will cost
you more IN the long run than you can
AFFORD TO pay for g.
Not long ago a New York paper gave the
following advice to the policy-holders Of
certain life insurance company:
The quickest and easiest way for the
vlctimiZed policy -holders to put themselves
out Of their misery df they cannot force
get out and let the rotten hulk. which their
officers are scutting, sink.
why this alternative? If the president is
unworthy of confidence the policy-holders
have the power 10 get rid of him. why
should they spare him and kick themselves
into the street, We are not seeking to
pass on the merits or the dement's OF the
official referred TO, but why, we repeat, this
curious alternative?
Observe the exact significance of this
cheap advice. The policy holders are urged
to throw away $S9O.OO0,OOO of good money
simply because they have disapproved OF
certain acts Of the president OF their COM
pany.
That company is not a rotten hulk" 1t
is not being "scuttled" by its officers. 1t
Is not being scuttled at all. 1t is solvent
and has great surplus strength. In any
case its policy -holders have done nothing
to be ashamed of, and are consequently not
called upon TO commit hari-ksri
The polcy-holders of all the companies
are naturally timid in times such as these.
and many Of them are ignorant. But the
average American citizen is blessed with
common sense. and the very extravaganza
OF this advice will minimize its evil in
iuence. Instead Of inducing intelligent
people to act foollshiy It will set them to
thinking. And II they begin to think they
will get at the truth.
Grant If you please. that there has been
mismanagement. Grant, II you please that
there has been extravaganza and waste
But don't overlook the fact that notwith-
standing these evils the companies that
have been criticised are sound; are in a
position to fulfll every contract, and have
abundant surplus strength. And whatever
the character Of the management Of these
companies has been heretofore. it is quite
certain that they will be we'll managed in
the future. Hence, the astounding folly OF
the advice that, because some money has
been wasted, hundreds OF millions of good
assets that remain must be thrown to the
dogs.
But that is not all This advice is per-
nicious, not so much because It counseis
the sacrifice Of valuable property but be-
cause of the injury 1t would do to innocent
widows and orphans. How many of these
policy-holders, If they should sacrifice good
insurance on which they have been paying
premiums for many years would be able
or willing to buy new insurance at an in
| creased cost? And what proportion of them
| could get new insurance at all. from any
| source whatsoever, If they should throw
| away what they now hold?
No! II the ship has been allowed 10 drift
out of its course and IL you have seen
| breakers ahead, aud If you have been able
| to get into the right course again, and II
you are now able to go on your way re-
| joicing, is II the part of wisdom to turn
back and run your ship upon the rocks?
| Surely not. And yet that is the cheap ad-
| vice Of the New York paper from whose
| editorial the foregoing picturesque para
| graph has been quoted H. d. NEELY.