Thank you for visiting SNEWPapers!
Sign up free
Editorial
December 28, 1940
Atlanta Daily World
Atlanta, Fulton County, Georgia
What is this article about?
The editorial praises the life insurance industry's resilience during the 1921-1930 economic downturn, with minimal policyholder losses despite widespread failures. It equates private enterprise principles to Christianity's eternal truths, crediting them for America's civilization and advocating their continuation for freedom.
Clipping
OCR Quality
88%
Good
Full Text
Confidence Justified
The safety record of life insurance during the past ten years has been without parallel in history.
That is a broad statement but the figures back it up.
The total assets of companies which suspended operations during the decade 1921-1930, amounted to about 9 per cent of the assets of all companies. Inasmuch as only a part of the assets of the suspended companies were impaired, the potential loss to policyholders was only about 1 per cent.
And, as the impaired reserves are being rebuilt by reinsuring companies, the maximum aggregate loss to policyholders has already been reduced to about one-half of one per cent!
That was the industry's record during the worst depression in modern times, when businesses were failing by the thousand, the national income dropped by tens of billions, and security values went to all-time lows. It is a record which justifies confidence.
"The principles of private enterprise, like the principles of Christianity, are old. At the same time they are eternally young and true. They have brought America to a high state of civilization and I believe that they must continue to be our guiding principles if we are to maintain this civilization. I favor private enterprise because I love freedom and all the privileges it brings me as an individual."
The safety record of life insurance during the past ten years has been without parallel in history.
That is a broad statement but the figures back it up.
The total assets of companies which suspended operations during the decade 1921-1930, amounted to about 9 per cent of the assets of all companies. Inasmuch as only a part of the assets of the suspended companies were impaired, the potential loss to policyholders was only about 1 per cent.
And, as the impaired reserves are being rebuilt by reinsuring companies, the maximum aggregate loss to policyholders has already been reduced to about one-half of one per cent!
That was the industry's record during the worst depression in modern times, when businesses were failing by the thousand, the national income dropped by tens of billions, and security values went to all-time lows. It is a record which justifies confidence.
"The principles of private enterprise, like the principles of Christianity, are old. At the same time they are eternally young and true. They have brought America to a high state of civilization and I believe that they must continue to be our guiding principles if we are to maintain this civilization. I favor private enterprise because I love freedom and all the privileges it brings me as an individual."
What sub-type of article is it?
Economic Policy
Moral Or Religious
What keywords are associated?
Life Insurance
Depression Record
Private Enterprise
Policyholders Loss
Economic Confidence
Christianity Principles
American Civilization
Editorial Details
Primary Topic
Safety Record Of Life Insurance During 1921 1930 Depression
Stance / Tone
Strongly Supportive Of Private Enterprise And Industry Confidence
Key Arguments
Life Insurance Safety Record Without Parallel In History During 1921 1930
Suspended Companies' Assets Only 9% Of Total, Potential Loss To Policyholders About 1%
Impaired Reserves Being Rebuilt, Reducing Loss To 0.5%
Record Held During Worst Depression With Business Failures And Economic Drops
Private Enterprise Principles Old Yet Eternally Young And True Like Christianity
Private Enterprise Brought America To High Civilization And Must Continue
Favors Private Enterprise For Love Of Freedom And Individual Privileges