The people's voice. [volume] (Helena, Mont.) 1939-1969, 1949-06-10
The Insurance
Continued from Page One)

Montana policy holders IN 1916
was $3,745, 522.49. The differ
ence between what Montanans
pay for life insurance and what
their beneficiaries received in
1916 was $S,563, 405.56.
In 1916, there were in Montana
SASS persons or corporations icens-
ed to make living from the insur-
ance business. The taxes on prem
iums, from all companies, life, fire,
accident, ETC., was S400,391.17. Sub
tract that from the gross ''take",
leaves $S,163, O14.39. There is no
way of telling exactly the expense of
operation in one state. If we as
sumo that they do so as cheaply here
as they do generally in the nation,
then they operated here for about
one sixth of the take" lie: S2,051,-
4S8. But such expenses include
taxes. So the last sum must be taken
from the first, not the second total,
and added to the losses paid to find
the net cost of the racket to Mon
tana people for 1916; thus, losses
paid, S3,745, 522.49, plus operating
cost, S2,O51, 488, equals $5,797, 010.-
40, subtracted from S12,308,928.0 |
equals $6,511,91S.56. The yearly |
net ''take" from every man, woman
and child in Montana is $500 the
head for the average.
About the same proportionate
"take' has gone on for 40 years last
past.
Here's An Important Reason For
Buying Farmers Union Insurance
And every other kind of nom
cooperative insurance in Montana
makes a proportionate yearly drain
on Montana, and takes the capital
out of the state, never to return. n
Whenever a bill appears in any
state legislature to curb these racke-
teers, flying squadron of high-pow-
cred lobbyists runs to the scene. The
local yokels are overpowered.
w. P. Pilgeram and | noticed a
bill in the lower house in 1923 for Il
the state to cancel all its fire insur- II
ance and put the $4,000 or more
each year in fund until, in several
years, it would pay for any fire loss. II
At first majority was for it. The H
Flying Squadron came and persuad- H
ed the yokels to- vote against our
wise bill. In 26 years it would have
saved the state 50 million. II
The premium rate of every life H
company is founded on a II
raud. Eighty-nine years ago New H
York was one of the filthiest, most II
cities of the world. A II
able of mortality was scrambled of H
200 ordinary unsolicited New York H
lily risks. The average span of life H
n the United States is now % years II
onger than it was 80 years ago. The H
still use this old table, II
low 40 per cent false for ordinary
ersons, to guage their premiums for H
arefully examined risks. H
I personally oppose public gamb- II
ing and slot machines. MANY years
go, for two years, there was no pub II
&c gambling, nor a single slot ma II
hine working in Butte. I was City III
Lttorney) The Attorney General III
5 right in his present course. Re III
ardless of the permits of "tin III
orn" legislature, slot machines are
lottery and forbidden. But it would III
e absurd to estimate that gambling HI
nd slot machines strip the state of III
ne third the annual "take" of the HI
fe insurance companies. HI
Many good citizens do not share HI
~ views on gambling and slot ma HI
hines. Perhaps Mr.. Pat C. Sullivan HI
eIeves in public gambling. The only HI
aviation Of the entire nation from HI
ne life insurance racket is an act HI
{ congress fixing the premium rates HI
n this article now adjudged by the HI
IS. Supreme Court to be of Inter HI
ate Commerce, or congress might HI
ssign this work to the present Inter HI
ate Commerce Commission. HI
Mr. Sullivan seems lately to be HI
,okesman for Mr.. Mansfield. Per HI
apps he might intercede for the HI
lpes of insurance agents here, with Hi
r. Mansfield to notice bill to rem HI
ly the racket. If Mr.. Sullivan does HI
.vor public gambling Il think he Hi
,es), 1 promise him that if such a Hi