Ornamental Flag Poles—Eastern Insurance Companies.
The Pennsylvania politicians decided that the state needed a new Capitol. The people were told that unless a better state house were erected Pennsylvania would be pointed at with scorn, viewed with alarm, and otherwise treated in a disrespectful and uncomfortable manner.
So, the politicians, contractors, material men, jobbers, lobbyists, dead-beats, plain thieves and so forth, went forward and in due time a new capitol for Pennsylvania was evolved.
Costing how much?
Thirteen million dollars, my son.
The house, itself, cost only $4,000,000.
But, then, you see, it had to be furnished.
The “furnishings” of the new state house cost the tax payers of Pennsylvania $9,000,000.
As a sample of said furnishings, consider the one item of flag staff.
What would such a magnificent new capitol be without a flag flying above it?
Of course, the state house must be surmounted by the flag.
And how can the flag do itself credit, away up there in the heavens, without a pole to fly from?
Of course, there must be a flag pole.
So, the pole was put in place, and the flag was braced to the pole.
At what cost, please?
Why, the flag pole cost $850. Not $8.50, but $850.
So, at least, it appears upon the expense-account.
What was the flag pole made of?
Why, it was just the round body of a large pine tree.
Nothing else, my son.
The probability is that any sawmill in the country would have furnished such a tree for $25.
The labor of preparing the tree for use as a flag pole might have cost another $25.
Fifty dollars ought to have covered the entire cost.
But then, you see, the gang that was bossing the job needed money; therefore, the State of Pennsylvania was supplied with a fifty-dollar flag pole for the moderate sum of $850.
***
But the country is adorned with numerous other flag poles of the same variety.
One of them is Paul Morton, President of The Equitable Assurance Society.
No institution in this land of the free has a flag pole that is more expensive.
Paul Morton costs the policy holders of the Equitable $80,000 per year. Not $8,000—which would be a fair price—but $80,000—which is a gouge.
Just how many men, equally capable, could be found to fill his place at $10,000 per year, it would be impossible to say; but there is no doubt whatever that Paul himself would have served the Society just as well upon a salary of $25,000.
But then, you see, he wanted more. So he took it.
Flag poles come high—under certain circumstances.
***
Life Insurance, properly done, is of vast benefit to the Insured. Life Insurance, improperly done, is of vast benefit,—to the Insurer. Those Eastern Companies got too gay. Their higher officers became corrupt. Under various flimsy pretexts, they began to plunder the Insured. Local agents, who did the hard work, got small pay. State agents and National officers drew princely salaries,—and did little to show for it.
Some of those Eastern Companies have been building Insurance Business on the same principle that gave an exhibition of itself in the building of the new State House of Pennsylvania.
Everybody knows that the taxpayers of Pennsylvania have been robbed. Everybody knows, equally well, that the Policy-holders of those Eastern Companies have been plundered.
From the standpoint of such rascals as the McCurdy gang, the Policy-holder resembled an Irish potato, in that he had eyes yet saw not.
The blind Policy-holder, who could never see that he was being robbed, became a jest among the thieves who spent his money in riotous living.
Life Insurance is all right—when the Insurer is.
Before you allow the Insurance Company to examine YOU, examine the Insurance Company.