The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1910-10-18
STAND By HOME COMPANY.

successful home insurance companies
life and fire. Long ago, even before
the Investigations in New 1ofh that
shocked the country, lis paper beSah
an agitation for North Carolnlans to
orranize and conduct soun home in
urance companies. AS Il result OF
the agitation from that and Otnef
sources. a larger proportion of life and
fire risks are carried by home compa-
MES in North Carolina than in any
other Southern State. If the people
will place most of their insurance With
home companies and not grow impa-
tent for large results too soon they
Will keep Millions of dollars at home
that have heretofore been going to
make Connecticut and New York and
other Northern States rich.
The spirit that has made North Car
Dina a pioneer has reached other
Southern States and they are follow
ing the example Of North Carolina.
This is evidenced by the following
editorial from the Birmingham News,
sent to The News and Observer by one
Of North Cardinals leading
~t<llNI w I1OIit SOfliseSsiIiIS.
'In the mere matter Of insurance
premiums Alabama has sent out OF
the State, in forty years, an amount OF
money which,, at the
rate we have to pay, would aniount to
a sum, perhaps cquas to one-ilaif Oh
the present assessment on the tax
books OF the State. L am not speak
ing OF gross moneys, but of uIirct;llIn~
ing dollars"
Tho sat n ~ onA nrInfa6 hnr2IIfh IN
black face type is an extract from q
letter contributed to the TRADE at
Home discussion by Il birmingham
business man, the text OF the co1nmu-
nication appearing in The News OF
yesterday afternoon. The writer Oc-
cupied an important public position III
Alabama or years and knows whereof
he speaks. Reduced to cold figu~es,
his statement means that A~labam1ans
have during the past forty years sent
out of this State q sum compounded
ct the rate We have to pay equal to
at least two hundred millions dollars.
Surely this is u royal sum for Ala
bama to contribute to the prosperity
OF other States.
1t would, OF course, be absurd TO
argue that all Of this money could
have been kept in Alabama, though 1t
is quite evident that q large portion
of it might have been had the people
Dttn lullA dlINt " lit IiIAlOI ~ VI
keeping their own one at work in
their own community.
Then, too, it might be rendered
that the people Of other generations
were not provided with facilities for
keeping their money at home that are
offered the citizens Of today. Home
insurance companies were few and far
between in the olden days, and men
seeking protection were forced to send
practically all of their insurance
money into other sections.
Happily, this condition no longer
obtains.
During the past few years ume
Gus strong insurance companies have
sprung up in Alabama and other
Southern States and it is no longer
difficult to place this class of business
at home.
Yet custom Is a stubborn thing and
Alabamians in with citizens
OF other States, are slow to avail
themselves of the opportunity thus
offered for keeping their money at
home and adding to their own pros
perity in tbs way.
In discussing this subject the head
Of one Of the pioneer companies of
Alabama deplored what he termed a
disposition on the paTt Of some people
to knock Alabama Institutions be
cause they are not as big as some
or the Eastern concerns. Strength, he
SAID is the main point, not "bigness,"
and Alabama concerns are inst as
strong, relatively, as those having
thelr headquarters in other States.
one might as we'll argue, he contin-
ued, that Alabama citizens shonld
send their money to New York banks
instead Of keeping it in Alabama
banks because the New York hanks
are larger. The ruth, as the speaker
very properly pointed out, is that Ala
nSaina banks are Just as strong as those
IN New York, the difference hain1
merely one Of larger assets and larger
llaollities, and the same rule anpIies
20 larger insurance companies OF Ala
bama. Ni"
IL the millions upon millions that
surance premiums each year conld he
kept IN this State there would he am