Albuquerque evening citizen. [volume] (Albuquerque, N.M.) 1905-1907, 1905-12-04
Sentiment of West
On Insurance Scandal

The Literary Digest recently felt the pulse of the
country with reference to the life insurance situation
taking as its guide the opinions OF leading newspapers
in various Sections of the United States. The Digest
gathered the following in that region lying between the
Mississippi and the Pacific:
In the opinion of the Pueblo Chieftain it would be a
"lamentable failure of Justice If the gigantic grafters'
were permitted to retain their tl-gotten gains, and "be
turned loose with no punishment" BY the side of the
operations of these men, says the Tacoma Ledger, "aI
former processes of obtaining tainted money seems
commonplace and respectable" But it is fortunate for
the public, remarks the Omaha World Herald, that the
time of these offenders promises now to be so strenu-
ously occupied in keeping out of Jail that they will have
but little leisure to plumber and betray unsuspecting
policy holders" The Irregularities perpetrated by these
offending officials have been so enormous, in the esti-
mate of many papers, that they are at a loss to under
stand how they could have been tolerated for SO long a
time. For instance, lit is inconceivable." to the spo-
kane Spokesman Review how the Mutual could continue
to write new business with the president advancing the
astounding argument that he would, so far as lay in his
power, resist the payment of dividends to the companys
policy-holders." So any scheme of reform, declares the
st. Louis Globe Democrat, must go farther than the mere
correction of errors of management. at must involve
the extrpation OF the offending officials, Their removal
at the earliest possible moment, and their punishment
afterward by law are necessary II the companies are to
regain the confidence of the people"
However, IL the proceedings should stop at the pres
ent stage, il is generally believed that the ultimate good
already resulting from the ventilation of insurance
methods will be far reaching. One thing that the Ia
coma Ledger thinks will surely come about, is the re-
and fatherless.' The Sioux City Tribune predicts that
insurance policies are likely to be worth a great deal
more, Tor the policy holders are sure to get what they
have heretofore expected in vain; while the Kansas
City Times sees a resultant improvement in the morals
of the nation al large and declares that 'the American
public life will emerge purified and finer and stronger
Ifor the problems that lie before it,"
Many other western papers are giving encouraging
words and wholesome advice TO the public and are doing
their best to correct the tendency to condemn the whole
life insurance business on account of the crimes of a few.
Thus the Kansas City Journal remarks: "On the other
hand' there are dozens Of life insurance companies Which
have been governed, some of them for half a century or
more by honest conservative methods, paying moderate
salaraies, making sound investments and accepting only
high class risks in writing their insurance policies.
These companies rank among the safest and best hnan-
cal institutions in the world. They are in no wise con-
eerned in or affected by the New York companies and
their business should not suffer, nor should prudent.
conscientious men fail TO take advantage of the oppor-
tunhies they oner for the comfort and support of them
solves and their families because of the crimes Of a few
frenzied hnanciers in New York"