The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-05-07
4CARoLINIANs COMPETENT.
TO Conduct Life Insurance Companies
and Keep u Portion of the
Premiums at Home.

To the Editor: i have read Win
much interest the articles OH Life in
suranCe which have appeared in the
News and Observer ducInS the last
few days. | trust Yod may keep I'D
the great fight you have begun until
the eyes of the people OF this State
are opened 20 the imDortan ce OF keel
ing their insurance pre:l'd;ns DIT home
until North CarOIinians realize that
they are IS capable now al heart, of
beginning and conducting business as
the North successfully began seventy
five years ago.
There are men in this State, high
in the estimation of the publtc-and
deSerVedly so-men who are proud OF
the fact that they are Tar Heels and
rejoice in the States prOsperity-Who
will have the audacity 10 tell the agent
of a Home Life Insurance c0mpanj
or his prospect" that life insurance
i'm North Carolina is an experiment,
the time is not yet ripe for such a
departure in the South"
Now, Mr.. Editor, such stuff" is an
insult to the intelligence and integrity
of the Southern people, if it emanated
from a man who did not derive at
least, a part of his incOme from some
Northern or Western insurance con-
pany. or else, O Men of Mark, tell
us why it is, if true, that we of th's
dear and prosperous old Southland are
seventy-fve or one hundred years be
hind our brethren OF the same race
in the North.
Have we, indeed, noS reached that
standard of intelligence and business
sagacity attained by the people of the
North siXty-tWo years ago?
Notwithstanding the very elusive
and not too brief-article in your is
sue of today, all intelligent and far
sighted business men of our country
acknowledge the necessity Of prot@2-
ton for their business anc loved ones.
They also realize that the most ACE
ouate protection is obtained through
legal Reserve" or "Old Line 1nsul~
ance companies, which mutually ana
economically conducted are the most
beneficent institutions known to man
kind, yet North Carolina, as state
| Ct am not talking about lndlVlduals)
would be twenty-five to fifty millions
| of dollars better off today II a DOL
lars worth of life insurance had never
| been written in her borders. II we
| had had our own COMPANIES, IN our
own State. as we now have, and the
! same amount of money inV5S-cd WIN
| them in life insurance, which mas gone
| out of the State for that purpose we
would have been prosperous people
| indeed.
While I do not agree with you, Mr.
Editor, as to the feasibility of State or
government insurance, do most
heartily endorse all you say as to
the excessive cost of life insurance
and the importance of keeping our
| insurance premiums at home. me
| s1rpI1s which is the overcharge,
should be returned to the policy-hold-
ers instead of being used to pay for
fancy dress balls and banquets at sixty
dollars a plate. or for bulling a stock
Southern securities are the pest Sc
curities in the world today, and legal
reserve life insurance company In
North Carolina is just as safe as it is
anywhere on earth and it can reduce
! the cost of your insurance in the faIlo
of 6 to A, because a man VIII MAKE
more out of his money at six per cent
/ than he will at four per cent
T. j. CHEEK.
Goldsboro, N. c.. May 5, 1905.