The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1907-08-30


which it was intended On Tie other hand, [
want to say that there &as some that was very
proper and has and now receives the appro
baton of the public aid the companies as
we'll. The point to which de- sire 10 call your
attention more particularly. however, is the
extent to which governmental control and
supervision ought to go.
Mr.. Barry, the present very able Insurance
Commissioner of The State of Michigan, IN his
address as President of the Insurance Com
missioners Convention at Washington. IN
October last used this language which is so
forceful and pointed that have appropriated
it. He said, I'm my judgment the time will
never come when the companies will be sue
cessfully managed either by statute or super
vision. Business management Is not the
province of either of these agencies. That,
in the last analysis, must necessarily be lett
to the honesty and judgment of the admins
trative officers of the companies, held, by
publicity, to strict accountability to their
policy holders. MY individual judgment is
that the great remedy for whatever evils have
thus far been found in insurance, or whatever
evils may be found in the future. lies in full
and complete publicity.
heartily agree with all that Mr.. Barry has
said and believe that if this remedyis properly
applied to all transactions of public corpora
tons there will be little need of investigating
committees or of much further legislation on
the subject.
Whenever the business of corporations at
fects the public interest, it doubtless Is the
duty of the State to give it proper regulation
in the interest of the public, but do not think
that such regulation should in any manner
interfere with the management of its purely
internal affairs and concerns. This as MIR.
Barry said, is matter for the sound discre'
ton and best judgment of administrative
officers and cannot be intertered with on the
part of the State without injurious results.
Even if such a power is conceded TO Gov
eminent is to be supposed that members OF
legislative bodies would have sufficient prac-
teal knowledge of the vast business OF insur-
ance to lay down rules sufficient for the con.
duct of all the private affairs of companies
Such proposition would hardly be enter
tanned by any reasonable mind. helleving as
do upon this subject | do not think that
Government should undertake to fix the
salaries of the officers and employees OF corpo
rations as this clearly is no matter that affects
the general public, and should be regulated
entirely by the governing body OF the corpo
ration itself.
Would it be contended by the most radical
believer in governmental control that the State
should select the men who are to act as agents
of Life Insurance companies? think not
But if this is true, can the State intelligently
fix the amount of pay the agent is to receive
for his work when selected by some one else!
Surely the same answer must be made to this
question as TO the other
do not mean TO say that the States that
have limited the commissions OF agents have
made them either too low or too high. do
not know what they should receive as l have
never tried to do the work OF one nor have
ever employed any, and therefore have no
information upon which could reach proper
conclusion. But whether it is too high or too
low | do not think it is matter that the
legislature should have anything to do with
whatever but that it should be left entirely to
the contracting parties.
As far as my knowledge goes think that
the success of Life Insurance Company de-
ponds in the greatest degree upon the eflclency
and intelligence of its agents and the KIND OF
work they do. If they are bright, active,
polite Jealous aud perseyering the company
succeeds but if they lack these qualities then
the result is entirely different.
If, therefore, the agent is necessity to the
business and is so largely responsible for It's
success, then | am i'll favor of giving him
such recompense for his labor as will justify
him in deyoting his time and talents to the
business, and | repeat that L do not think TINS
compensation is a matter to be dealt with by
the State but should be fixed by other and
more competent judges. :,
The time may come when insurance., like
merchandise, will be commodity that will be
sold over the counter, when the agent will not
be required and there will be special bargain
DAYS for the benefit of the ladies and it will be
as eagerly sought after as red lemonade at a
circus, but Mr.. Toastmaster, that Will be
.When the stars grow old, and the sun grows
cold aud the leaves of the judgment book I'M
fold
hope the day will never come in my time
that we do not have Life Insurance agents.
We could not get along without them. Why.
we wouldn't have any one to come into our
places of business and stay with US for the pur-
pose of telling us our duties to our families
and loved ones and portraying the terrible
calamities that will certainly befal US if we
fail to insure our lives, and we shall not have
any banquets like this and perhaps we shall
not have any Insurance Commissioners then.
How is it possible to contemplate such con.
diton of affairs? | shall pass to something
much more agreeable.
There are many matters that | would like
talk about if | had the time to do so but
promised to be brief and shall keep my word.
However there is one other matter that want
to touch upon before | finish. | refer TO the
taxation of insurance companies and eSpec-
tally those that are strictly mutual. 1t was
not originally intended that supervision of in
surance was to be employed for the purpose
of raising revenue for the State, but to defray
the cost of supervision. The amounts now
collected are largely in excess of this need and
should be materially lessened in the interest
of the policy holder. Every dollar of taxation
Il IL ,1,
from the pockets of the members and any re-
duction would insure to their benefit. While
a sufficient sum should be collected to pay the
entire cost of supervision and perhaps rea
sonable amount towards necessary revenue
feel that anything in excess of this is improper
and without Justification.
And now Mr.. POSTMASTER, desire to thank
you and your Association again for the OPP
portunity of being in this splendid gathering
this evening and also for the most enjoyable
time | have had during my entire visit to this
city.
In the years to come l shall look to this
event of my life as one of the most enjoyable
in my experience. Never was more generous
since my arrival and no words of mine can
sufficiently convey to you and every one the
the extent of my gratitude and appreciation.
| expected to enjoy myself but had no idea
that so much pleasure awaited me and the
only regret l have is that the end of it is so
near at hand.
l have been delighted to meet many whose
faces had not seen for quite awhile and re-
new old friendships and l trust | have formed
new friendships here that will be as lasting as
time.
Thanking you all for your patience and
your kndliest respect l must close.
Gfr;o% Tnforyoroto tian