The Pascagoula democrat-star. (Pascagoula, Miss.) 1878-1920, 1911-04-07
SOUTHERN INSURANCE PROSPERITY

Faatref. Ho e01if hsf stand he dfsa
fou realize fhs fftf thqf annually
I 0smrIans send ont " me- state to-
] northern end fofoign insurance com
ponies doing business m ibis tefd
tory. o. volume OF premiums in money
equal 40 one fourth tho ouIlro opofat
Inv banking capital NJ fhe state This
ia also trle ri aIl nur Southern 8fates
IN is811s10. ln Inc fourteen ataios.
there were written DO nro insurance
premiums aioho over SIG 600 600. aud
this fund has $50 rapidly increased dur
ing the past thirty years that It has
reached the tremendous total Of oyer
NO7 900 During this span Of
thirty years the Southern IRE compan
les alone IN those fourteen States
wrote The ptlfu sum Of little over
{ds,000000. leaving not balance u
over i64O,00O,O0O In money that for.
oign companies. operating In this ter.
rltory, have taken away from those
Staios to the great money centers
This volume OF money has made the
North aud East the richest and most
powerful section Of this republic. and
large share OF this fund has even
crossed the waters and helped to on.
rich the coffors OF foreign countries,
This money Is annually withdrawn
from our banks and repositories, thus
reducing the cash assets of our fnan.
cial Institutions, limiting our trade, re.
strictins our manufacturing and re-
!, tarding our mMcrial dovelopINnt.
Every new enterprise has been forced
TO 20 East for funds TO finance the
undertaking, and thus our people.
/. after sending away from their own
! land their own good money, are forced
: to the humiliating spectacle Of Dor
rowing back that same money and
!, paying n handsome tribute therefor
This ruinous method, but for our won
!, derful energies and natural resources
would bankrupt our people and dis
!, spirit their aspirations.
a But new light has been seen Our
a people are coming to themselves. We
are gradually Staliaing the necessity
for radical change in the ancient be
!, lief that only by and through Northern
!, enterprise and Northern capital ant
= Northern brains can industries of on,
: kind financial undertakings Of what
!. ever proportions and developments o.
!, whatever characterize successful,
4 conducted. New insurance companle,
a In the Southern field covering ever,
, branch are being organized all owe
/, the South by our own people and
. wholesome revival OF patriotic senti
. ment In favor OF home enterprises |,
- rapidly gaining ground everywhere
n. Our thoughtful people are beginnin,
IF to keep our money at home, caring 70
a our own institutions by patronizinJ
n homo industries and building up her,
(, n safe and sound development of GU
+ own resources.
.. In North Carolina some ten year
10 ago there was not single INSURANCE
company chartered by the TAR Heel
n state and every dollar In premiums
is was written by foreign companies and
IN taken away from that commonwealth
* 70 enrich the enterprising citizens who
a invaded our Southern territory tc
n their own enhancement and N M,
10 consequent detrlment A feeling OF
0. shame brought our sister State to a
: realization of her folly, and as a re-
sui'' there are now sixteen North Car
ohha insurance companies chartered
ny mat STATE. with North Carolina
money constituting their capitAl and
uoins business on their native heath
writing 60 per cent. of the total vol
une OF premiums produced by that
commonwealth.
georgia wrote In FIRE Insurance
premiums alone In 1910 over 5.00o
ooV, and only hagatelle of 10 nor
cent OF this sum was written by homo
companies. In all the various branches
OF insurance, we wrote last year In
eeoFsh oyer $l5,o0o.0 900. and the same
..ory Is only sadly too true as TO the
,otai volume Of business done by mi
,he nome companies OF this State, and
~ serves to emphasize the utter lack
Oh business prudence and Judgment In
our people In allowing this vast sum
" DC written by foreign companies
sna the money taken from our State
~ 'nese annual tributes to other soc
TONS and foreign companies were dis
continued and the money kent Al
nohc--a sum equal to one.fourth Tho
money invested In all our banking In.
shtutions and deposited In our own
panks, we would never feel the shock
ana paralysis Of a financial panic, This
money which now courses their chan.
neis OF commerce would stimulate our
trade and industry In every line, seek
investment In our own resources and
ma Its way In the march OF our IN.
oustrial advancement The struggling
south would lift up her burdeped
shoulders and shake OF the letharry
ana weight Of misfortune, and our Soc.
aon would become = facofssxed lea.