anything inherent in the system that fore-dooms it to early
and inevitable collapse.

Assessment insurance is natural insurance as against artificial.
In the early establishment of life insurance companies, everything was
assumption, there was little or no experience to guide in formulating
the principles upon which the business should be conducted. There was
partial information, it is true, upon certain general facts pertaining
to longevity or to mortality laws, under certain conditions, but nothing
that could give substantial data upon which to base mathematical
calculations for the establishment of a science. Under those conditions,
rates of premium were fixed for insurance at the different ages which
the experience of many years has shown to be very much higher than is
required to meet reasonable expenses, and losses occurring from policies
maturing by death.

A rate of mortality was assumed greater than experience has shown to
prevail among well selected lives. The important element of lapses was
not considered, an element so considerable in its practical bearing upon
the requirements of the company to meet its liabilities, that of one
million of assumed liabilities upon say one thousand lives, only about
$77.000 become actual liabilities by reason of policies maturing by
death of the insured.

Assessment insurance instructed by the experience of life companies,
adjusts its plans and methods upon the natural basis of fact, and not
the artificial one of supposition. It tabulates its rates according to
the combined experience of all American companies, requiring the insured
to pay a sum proportionate to the amount assured, and to his life
expectancy.

It places its risks upon carefully selected lives only, requiring a
competent medical examination of the applicant, having regard to his
previous health and habits, his occupation or profession, his family
history, and such other circumstances as should properly be considered
in calculating probable longevity.

We assert without fear, that we shall be successfully controverted, that
there is as great care and discrimination exercised in the placing of
risks by our representation assessment companies, as in any other form
of insurance. Time was when this claim could not have been supported by
facts, but that time is not now. Our conservative assessment
companies,--and there are many of them that can be fairly so styled,
ignore none of the scientific principles upon