The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1915-07-20

ssacted. that We viii find the CON-
panies Will 80 out Of their way TO -
nice to Texas. because the Robert-
son Law has given them lots a. tron-
bic. Its provisions they claim strike
II the very root Of the whole life in
suraEce subject. believe II IL prop
or for the legislatures of the differ
ent states TO prescribe the character
@. securities In which life Insurance.
companies may invest their reserves.
but ! do not think II is proper ,.r
the state legislature to name the
locality In which the investment must
be made. grant that as far ss
Texas IL concerned that /. has plenty
OF good securities IN which they may
safely invest. but do believe as p
principle applied TO all of the states.
and these large mutual companie,
can look at It from no other angle.
II is dangerous and uncaIled for. for
what we need In Texas is not -
much Texas reserves. but the re-
serves from the more densely popm-
lated sections OF the country. where
the opportunities for investment are
very much less than here. The little
state OF Massachusetts has three
times as much foreign life insurance
reserves as has Texas.
can understand perfectly Mr.
Phillips interest in the Robertson
law. can understand why he and
all the other life insurance agents
in this county will probably oppose
my election. 1t is perfectly
natural for them TO want to
be free from all the competition
possible. II is easy for me to
understand also why the small out
side stock owned insurance COMMA
MES doing business in Texas, who
are reaping great harvest here az
the expense of the people, are in
favor of the Robertson law. and are
opposed to any amendment that will
permit the great mutual companies
to return here. / can likewise ur-
derstand why the Texas companies.
who have been lending their money
lin Texas at 8 per cent and sometimes
10 per cent, and lending 1t in Okla
hOma and North Carolina at per
cent are in favor of the Robertson
law and opposed to the Gibson bill
The Gibson bill in no manner affecs-
ed them nor the small outside life
insurance companies doing business
III Texas except as it affects them in
the matter of competition. | do be-
lieve, however, they ought to be fair.
open and above board with the peo-
pie of Texas and state that they are
against any change in the Robertson
law by reason of the fact that they
do not want the competition of TIE
larger insurance companies. Ger
tainly. if Texas farmers are having
to pay per cent to per cent, and
in some sections of the state as high
as per cent more for their mort
gage money than the farmers in au-
Joining states have to pay. and If We
have to take less desirable insurance
at higher net cost. ii is doing the
people as a whole no good, but de-
cided harm. | can also understand
why a few money lenders in Texas,
who loan their own money are OF
posed TO any change in the law that
would bring them competition in the
lending of their money. ! can also
understand why great many life in
surance agents who are getting Is
per cent or more of the first years
premium, would like to retain that
kind of condition. 1t is good bust
ness for them, but if ii is worth
anything to any one else except the
above mentioned parties at interest,
! would like for somebody TO show
me.
| of course realized when | began
this campaign that ] would be at
tackled by the interests above men
tened, but there are very much
fewer OF this class of people in Ellis
county than there are of the other
kind, and | am going TO rest my
case with the man who wants to
borrow money. and the man who
would like an opportunity to insure
his life in whatever company he see
fit.
do not think that the people VIII
be misled in any manner by Mr.. Phil
lips interest in this matter. ! hap
pened to be in Austin when the Glib
son bill was being considered. saw
some of the maneuvers there, and
think if all the people of Ellis eouu