The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1906-04-26
Where the Responsibility
Must Rest.


The Journal recently commented
on the responsibility Of the insurance
companies for the results Of the mis-
management which the insurance in.
vestigstiOn revealed. One of these re
suits was the wholesale lspsing OF
policies by the smaller policy holders,
the responsibility for which the in
surance companies are trying to lay
onto the newspapers which reported
the facts to the public. The Journal
contended then, as II does now, that
the whole responsibility for all Of the
evils which have followed the inves-
tigaton rested properly on the com
panies themselves. but a friend has
handed us the following from the IN
surance Field" which still assumes
20 shift the blame onto other should
ers and We publish it simply for the
purpose Of giving the insurance side
Of the matter 1t is entitled "A
Heavy Responsibility and reads as
follows:
Long ago the classic quality that
comes with age had been conceded TO
the Joke. Its so because I saw it in
the paper" but in spite Of this there
is no denying that newspapers con-
stitute the mightiest factor IN our civ
ilization for molding public opinion.
Such power carries with il a respon-
sibilitv of peculiar sacredness but
aside from a few worthy exceptions
Il can not be said that American news
papers reveal a proper conception OF
their duty. Where they do not reveal
a wicked wantonness that reTels IN
the wreck Of reputation they write
themselves down daily as ignorant
and unworthy to WELD the power en-
trusted to them.
An example Of the evil that comes
from the ignorant and reckless abuse
OF this power is provided by the state
ment issued during the week by Pres
ident Morton of the Equitable who
shows that in the matter of lapses
during the excitement of last year Il
was the small policy holder who suf-
fered. About eighty-ive Per cent Of
those who listened 10 the newspapers
and gave up their policies we're in
sured for $1,000 or less. Holders OF
policies Of $4,000 and upward" re-
marked Mr.. Morton, ARE generally
men of business experience; they rec
ognized the strength Of the cOmpan-
les and were not disturbed, but there
was a great deal Of alarm among
holders Of small policies"
Unfortunately men Of business ex.
perience" and discriminating persons
who are able 70 keep their heads in a
storm are In a minority and the weak,
hysterical and credulOus provided Just
the proper soil for the sowing Of the
seeds Of suspicion and alarm by the
newspapers who, by saying a judici.
Gus word in season, could have pre-,
vented the forfeiture o. protection by
their dupes.
All the companies in a greater OF
less degree have experienced this
lspsing which is a direct result OF
newspaper incendiarism, but the re
sponsibility Of the daily press does
not end here. In a letter to general
agents President Ide OF the Home
Life Of New York remarks upon the
difficulty in securing a proper amount
OF new business and observes:
Il End from inquiry OF other com
panies that their business since Jan.
uRry i is very much below the aver.
age and that In the case OF large
companies in the state New York;
the writing IS about half Of that for
the same period Of 1905"
This means that the work Of diffus.
ing Insurance among the peOple-the
most benefcent work Of modern civil
iE8tion-haS had its usefulness re
duced By half because the newspapers
have been too malignant or too iEnor.
ant, while attacking Indicators. To
point out the entire sOlvency Of legal
reserve companies and the conspicu.
Ously high quality Of management In
the life insurance business generally,
Without going into any extensive
argument TO contradict the above view
Of the matter, a sufficient answer 20 Il
lies in the fact that II the insurance
companies had been properly man.
aged. no newspaper either RESPONSE
be or irresponsible, would have had
any ground upon which 10 attack
them. And they might better now &C
knowledge their errors than to try
shiftlng them onto some one else
Until the insurance people as a whole
are ready 70 admit that they were
wrong. that they knew then and know
now mat they were wrong. and that
they intend to pursue a different
course, they can never re-estsblish