Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-10-21
WHERE m.. scx.se IS WRONG.

Mr.. tacen y. Schin, the we'll Known
fnano!er and enc time director Of the
Equitable Lie, In the course Of a
speech Ii Ainnsr OF public account
ants In New York recently, said, rela-
tive to insurance matters:
s"The present situation. with the last
ing and wholesome effect 1t will with
out doubt exercise, has, however, much
that must be discouraging to men OF
self-respect. The very men, directors
Of great insurance companies, who, in
face Of a peculiar system and ccnd!-
lions, have at least made the endeavor
to direct, have come in for particular
criticism not only for not discovering
short comings of executive officers, but
alike for the legitimate conduct of their
own affairs. Calm judgment and delib-
Grafton are somewhat in danger of dis
appearing, and it is indeed high time
that the conservative public press
rather seek to ally excitement than to
stimulate it, as has become the habit.
The most valuable asset of COM
rnunity is the good name and reputa-
ton Of its citizens and it is a serious
state Of affairs when regulations come
10 be considered solely as to their value
for. the number Of headlines and
amount 81 COPY they will furnish to
the Sensational newspaper"
Mr.. srhig's complaint is no new one.
The fault Of his argument is the de-
feot In the men ne seeks to defend. He
places all his stress upon reputation
and none upon character. The real
strength Of men and communities is
not 80 much in their regulations but
the eenuineness Of their regulations.
IA counterfeit bill is good money until
its spuriousness is uncovered. Coun-
terfeis populations are one OF the worst
assets Of community. It is these
false regulations for integrity and
!. probity hacking foundation in character
that permit the men who own them
70 ts4xe years to the systematic wreck I
ing OF banks, hypothecation of seour-
!itfeA Forgery and the other financial
.calauities that wreck individuals and
comnunitlss. Ehe newspaper that
with an honest motive blasts spurious
reputation Is The best defender Of Its
oommunity. The newspaper that
knowingly conceals what should be
given publicity in protection of the
public Is foe to its clientele.
e Mr.. Schins blame is pointed askew.
THE newspapers did not destroy the
men he seeks to defend. They COM
mitted suicide. The act, not its ex-
Sposure, was the wrong. There would
have been none Of the headlines of
which he so bitterly complains had in
surance managers been honest men, or
attempted to administer their trusts
honestly The "endeavor to direct for
which schiff gives credit, scarcely
jumps with the facts. When four mill
ions of policy holders money flood the
pockets of one family the endeavor
seems to have been to direct the
stream.
Not reputation, but character; not
what men say, but what we do; not
the headlines in the newspaper, but
the truth behind them, are the true |
assets and liabilities of men and ma
tons. Not the bluff men put up, but |
the trial balance, is the test. When the
accounts OF good and evil are drawn
It is. the fault Of the insurance crooks
not the newspapers that they showed
.. "deuced balance with the devil"