The Leon reporter. (Leon, Iowa) 1887-1930, 1916-01-27
A Wise Man Makes Provision For His
Own Household.

Own Household.
Brother farmers, we would like to
have a little talk with you on the
subject of insurance. We are not an
insurance agent, either. We are inter-
ested as a policy holder only. We
presume that nearly all of you have
your buildings insured against de-
struction by about everything but
earthquakes; and many of you carry
life Insurance. l suppose there are a
few people still living who would
"sick' the dog on an insurance agent
but they are so scarce we need not
consider them at all.
Now, when you took out your fire
insurance and paid the premium you
did not expect ever to see that mon
ey again. You knew that the chance
of your buildings burning down dur
ing the life of that policy was not
one in fifty. But you felt you could
afford to pay the small premium,
while you could not afford to lose
your house or barn. While the form
er was slight inconvenience only,
the latter would be "howling"
calamity. You freely paid the pre-
MUM to provide against very re-
mote contingency. 1t was good bust.
ness; but you probably waited for
some agent to call your attention to
it. Now suppose it had been sure
thing your house would burn down in
year or two. You would not have
waited for the agent. You would
have rushed to his Office as fast as
gasoline could carry you, to get in
surance and you would not have
kicked on the rate either.
Yes, we believe in all kinds of in
surance and especially Flood Insur-
ance" We live on Weldon, you
know, and just now we are more in
terested in flood insurance than any
other kind. If you know OF any
company writing flood insurance, we
would thank you to tell the local
agent to call on us. We will take out
a policy every year and not haggle
about the rate either. But we do not
believe there is a company in Iowa
chartered by the state to write flood
insurance. We have known of flood
insurance companies, but they were
all local affairs, organized for a
specific purpose, namely: to provide
flood insurance for people confined
to a certain locality, and when that
was done they quit business.
So guess about the only thing for
us-who live along Weldon river
to do is to organize a company to
straighten the channel which will in
sure us against floods forever. The
price may seem a little bit high at
first, but your policy will never have
to be renewed. You pay just one
premium and can have Is years to,
all done. You are insured for life,
in their turn, will follow you. If it
is good business to take out fire in
surance against a remote contingent
cy, why is it not the very essence OF
business sagacity to protect yourself
against certain disaster.
The cost of Strengthening the creek
will not be a liability at all, but an
asset
There is vast difference between
spending money that will put us in
shape to make money and spending
money merely to crafty desire.
When we buy an auto for instance,
we are assuming a liability.
There is the cost Of up-keep, fuel,
oil, depreciation in value, insurance
and so forth; and there is nothing we
can do with it to get the money to
pay these bills. U here refer to the
farmers auto.)
The cost of protection against
overflows is like capital invested in
productive industry, because it will
produce surplus that will not only
pay the interest on the investment
but will also create sinking fund
that will in a few years liquidate the
debt.
There is a piece Of land near us
that rents for around $500 yearly and
the renter is taking long chance
at that price. Protect it against the
possibility of overflow and we will
enter into contract to find rent
er for it for $500 year for the next
five years That is the effect it will
have on rental values. Think the
matter over. Ask your banker about
it. He knows a good thing when he
sees it,, and will not advise you
wrong, even if he does see a little
in it for himself because
you will have more money to put in
the bank. Don't let that worry you
at all. To have money in the bank is
no great hardship. Ask the business
and professional men with whom
you are acquainted and get their
opinions also.
By the way, brother farmers, did
you ever notice that farming is the
only business, that people in all 9TH
er kinds Of business seem to know
more about than the farmers them
selves? Whom did the warlike Teddy
appoint on his commission to find out
what is the matter with farming?
Farmers? Not on your life!
Did you ever sit down in bunch
of business and professional men
and listen to their talk on agricul-
ture? Were you not amazed at the
profound knowledge they displayed
on the subject? And how quickly
they would have headed you off if
you ventured to question some of
their statements.
When we were young and full of