The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1909-05-25
STOP THE INSURANCE DRAIN.

The time was in North Carolina
when if q man wished to negotlate q
long term loan it was necessary TO get
his bank to secure the money from
abroad. That is largely changed now
and is changing every day for the pet
ter. North Carolina people in every
line are stopping the drains that nave
been carrying the money Of its people
into other States to make them rIch
which should hav been kept at home.
This is seen in nothing better than IN
life insurance. Under the subject "Iht.
Stream Of Dollars there appeared in
the Jefferson Standard Life Insurance
CompanS's monthly publication for
May. The Jeffersonian. an article
which should be of absorbing interest
to every North Carolinian. In this
article. which is really a sequel TO
other articles appearing in preceding
issues of that publication, is compiled
statistics showing the amount Of pre-
NUNS paid, and losses paid in the
South. by life insurance companies for
a period running back quite a number
Of years. This article shows the total
premiums sent out of the fourteen
Southern States from 1883 to 1907, in
elusive. q period Of twenty Years. to
be the enormous sum of s749.522,-
I11.00. During this same period there
returned to policyholders in the
South, s2S1.915.273.00. Since 1900
several Southern companies have been
organized and have succeeded, in q
small way. in turning this wonderful
stream of dollars from the North. 50
that there has been paid to Southern
companies from 1900 to 1907. $22,-
10000. The total losses paid by
Southern companies. during the same
ave amoMpted to S4.7S9.433.O0.
I h recanitufation shows that from
I - { tn on \nptI 90 ,aJ ma In. ,,ni1
IN premiums to Northern companies,
S~34.594.766.00 and has paid in pre-
miumS to Southern companies. ST.
5t1.615.i 90. showing that tn people of
our State are rapidly recognizing the
v1lne OF Southern insurance. COM
panics.
Let us o. hat the $467.6O6.-
$500. the difference between the
amOun paid BY Northern companies
since 1883. and the amount returned
to po~licyholders by these same North
ern companies, had been kept in the.
South. How great prosperity would
have resultedi
collecting millions OF dollars. which
is being invested in the South and is
being used to improve u farm lands.
develop our natural resources. and
make our State blossom like the rose.
The premiums paid to North Caro-
A'ItN 'AS - tlt1e SoIIll l1lS Ell
viii be considerably over q million of
dollars, n this means that instead of
TINS money DIN to the North. there
TO be loaned IN q perfectly legitimate
to foster local enterprises, Will be
in North Carolina. in an equally
way. to build up North Car
DINA industries. for the tens of thou
sands of dollars worth of securities
posted with the Insurance Depart
lnent represent money loaned to the
mi and mercantile interests.
The South will come into it's own
and greatest prosperity when Southern
realize the value of Keeping
money at home. and of investigating
real worth of our life insurance.
companies, and the integrity of our
Carolina laws regarding in
surance companies.
1t can be said. in his connection.
many states have this year enact-
ed insurance laws along the line of
those in force in NORTH Carolina.
Lite insurance premiums kept in
\orth Carolina not only will do great
5ood oWardS the natural DEVELOPMENT
ii the State. but will enable our COM
GAMES to pay handsome dividends TO
oollcyholders because of the higher
interest rates now prevalent in the
south. The future will prove. what
very h~ard-headed business man now
lnoWs, that our Southern companies
Nil pay as large dividends to policy
FOLDERS as is now paid by Northern
The people will more and
more increase their policies in home
companies, thereby decreasing the
teady >drain that has carried SO many
million dollars out of this State that
would have helped every industry \of
forth Carolina.