The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1912-09-27

|
tile, rabid, universal sentiment. There
seems to be no particular reason for
IL. Inc movement Is a phenomenon
recurring constantly in the history OF
our civilization. / believe these pc
r1odic storms of public opinion to be
organic and inevitable. All establish
ed institutions. no matter how excel
lent, are subject to such assaults.
pointed this out ten years ago to the
bank officials of New York when q
wave of sentiment threatened the es.
tablished monetary standard"
He pulled his baggy form together
in his chair. AS he spoke. his voice
became somewhat clearer. ..-
Now, in all this investigation what
wrongs have been exposed? Indeed
none, outside Of few companies, ex-
cept that those In control of these
insurance companies had the use of
large sums of money and, not being
| infallible, made sometimes question
| able investments; and the further fact
that considerable sums were used in
politics. Why, gentlemen, everybody
knows that the average Assembly Of
the State is composed largely of men
who scheme to extort money from CON-
mercial industries by threatening them
with destructive legislation. The COM
| merce Of today Is no better off than
the commerce of the middle ages. It
must still purchase immunity from the
banditti. Sometimes these highway
men can be fought, but usually most
industries have found 1t less expensive
to pay the toll. Consequently, no
higher injustice can be imagined than
to hold officials of an insurance COM
pany responsible for such expendi-
lures. 1t is like shooting a captain
for handing over his ships money to
pirates in order to save his cargo.
Why, there is not an insurance COM
pany in America that could hold it.
self together for year as a money
making concern If 1t neglected to keep
representative at Albany"
Sir" said Randolph Mason, this
statement is neither entertaining nor
instructive. Please come to the
point"
Il beg your pardon" replied the in
valid; II am coming to the point. Five
years ago foresaw the arrival Of this
outbreak, there were certain signs
which l shall not stop here to dis
cuss; and began to prepare my COM
pany for this era of exposure. The
result of that labor is today evident
My company stands almost alone with
a clean bill of health. But the cost
to me as an individual would stagger
America If it knew. l have done the
labor of fifty years in five, and 1 have
expended every dollar that 1 or my
family possessed to accomplish this
result.
you are not to imagine that during
this time the political banditti were
any the less threatening or avid.
fed them as usual, but, unlike the 9TH
er companies, paid this tribute with
my individual fortune. Now, then,
gentlemen, / have come to the mat
ter in hand. One year ago politician
Of national reputation determined to
force my insurance company to bear
the expense of his candidacy for a
high office. He controlled certain ave-
nues of legislation, and threatened us
with a statute which would have Sc
questered the assets Of our company
in a dozen different states, recalled
it's investments, and left 1t no way
profitably to place its surplus funds.
1t would have been, in fact, ruin I'M
der the guise of law. In plain
terms, his price was three hun
dred thousand dollars. I got him
down to two. I had no longer any
money Of my own, and I would not
use that Of the company, even to
save 1t from destruction. My wife
owned this house, built with money
inherited from her father in England
we were both born in Sussex. l ex-
ecuted a mortgage on 1t directly to
this politician for two hundred thou
sand dollars. took this chance with
my family and myself. l felt sure
that this present wave of insane out
cry against insurance companies would
finally pass. and that when business
quiet was again established / could
rebuild fortune"
The man stopped, his tongue was
beginning to get thick. He drank
little more Of the colored liquid from
the glass.
II made the same mistake" he con-
tinued. that the fool did in the para
BILE. This tremendous high-pressure
has worn out the machinery. Iawoke
a month ago to the fact that I was
scrap iron. / am barely fifty and yet
every organ is dying Of old age-ex-
hausted. I cannot live a week"
The invalid must have seen an ex-
preston Of impotence or protest in
Randolph Mason's face, because he put
up his hand and hurried on
81 have been thinking over these
matters, with Death sitting here at
my elbow. and have come to the con-
clusion that have done wrong to
those dependent on me. The Christian
religion puts the infidel first In the
catalogue Of the condemned, and yet
he that provideth not for his own
household Is declared worse. Every
sentiment of practical humanity
stands for the priority of that obliga-
ton. am about to die. and have
In fact not two dollars to click to-
gether, except my salary, which win
cease at my death. More than that,
/ have taken my wife's estate-her
very bread and clothing-and used 1t
for the benefit of others. When the
breath leaves me, my wife and chill
dren go-where? You and know the
Sort IF aid 0na'S husinecs assocfatos