The gazette-times. [volume] (Heppner, Or.) 1912-1925, 1922-02-02

toHtHg dfliCtt Cl ", L. At6ldHdeF, ,
secretary of oHe Of the WorlfS great
est insurance companies, the EqHit-
dbIe Life Assurance Society. The
mere fact Of his official position NTH
the company iHSHres his familiarity
NTH his subject. In addition he
shows that insurance is not merely a
force uhoSe direct benefits TO its in
mediate policy holders is its sole title
to life and growth.
Life insurance is now exerting an
influence Of far reaching importance
in the development of our Nation.
While the services it is thus render
ing are of enormous value, they at
tract little attention because they
cover, so to speak, only the by-pro-
ducts Of life insurance. Let me ex-
plain.
The chief province OF life insur-
ance is to protect the individual
against the financial injuries that fol-
low in the train of death. Now, is it
conceivable that any of the by-pro-
ducts referred to here can be as use
full as this? Let US see.
One Of these by-products is the
value of life insurance in teaching
thrift to individuals thus strengthen
ing the Nation composed of these in
dividuals.
If it is true that life insurance is
the best Of all teachers and promot-
ers of thrift-and it is-then the ex-
traordinary importance of this by
product will be obvious; for every
one knows that most of the ordinary
schemes for the promotion of thrift
are ineffective and Disappointing
MONEY LIES IDLE.
Money laid aside for investment in
ordinary ways usually lies idle, or is
spent to relieve temporary embarass-
ment, or is sunk in business ven
tures.
Multitudes of people with praise
worthy motives start savings bank
accounts. But they soon tire of max
ing deposits. Or, if deposits are
made and some pinch comes, the
money is withdrawn and spent.
But the man who agrees to depos-
it specific sum periodically with a
life insurance company, enters into
a contract under which these depos-
its become obligatory. And although
he is free to stop making them he
cannot do so without sacrifice and
without breaking his agreement.
Consequently a pressure is exerted
which strengthens his purpose and
aids him in fulfilling the obligation
he has voluntarily assumed.
In addition to this, he is taught sys-
tematic habits of saving. His pay
nlents fall due at regular intervals
Whenever he is forgetful or dilatory
he is reminded of his obligation and
aided in meeting it. There is no 9TH
ef method Of saving, moreover, that
is as convenient and easily carried
cut.
SMALL SAVINGS.
1t must be noted also that the
small savings of innumerable indi-
viduals flow in tiny rills into the great
investment reservoirs Of the insur-
ance companies. Thus, funds which
would otherwise lie idle are used to
develop the industries of the nation.
Malicious people have sometimes as
serted that the companies hoard the
money received from their policy
holders. The reverse Of this is true.
The companies are paying every in
death claims, matured endowments,
dividends and other benefits, quite as
much money as they are taking in. In
addition to this they are constantly
investing their funds in the different
states and are thus aiding in the de-
velopment Of the industries Of the
country. Note what Lawrence F.
Abbott Of the Outlook has said in this
connection:
The American public does not yet
even begin to realize what the life
insurance companies have done in
the way Of enabling the individual
citizen to save his money and to put
il to useful work, not only in pro-
noting his own prosperity but also
in developing the resources and gen.
eral welfare Of the country.
What are these gigantic assets do
ing? They are building railroads,
erecting mills and factories, clearing
land, cultivating farms, and furnish
ing much Of the industrial power and
energy which has made the people of
the United States the greatest nation
in the world"
Note also what Mr.. Abbott has said
about the value Of life insurance as
a teacher of thrift to the individual
Take young man Of twenty who
is starting out in his business career.
can argue with him to open a saw
ings bank account until both he and
are black in the face, but without
success. Suppose do prevail upon
him and he makes the start. Nine
times out Of ten his regular deposits
fall ,n.n ,,rnaa..~ daevnt.da E,1 affx,