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The Daily Dispatch: January 26, 1861., [Electronic resource] 3 1 Browse Search
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The Daily Dispatch: January 26, 1861., [Electronic resource], To James M. Estes, Wm. M. Caldwell, and others. (search)
Life Insurances in Northern offices. The President of the New York Life Insurance Company--Mr. Morris Franklin--disclaims in his letter to Mr. Wortham, the highly respectable agent in this city, any intention whatever on the part of that company to discriminate between Southern and Northern policies in the contingencies of the dissolution of the Confederacy. See advertisement. The disclaimer is unequivocal and thorough. Now, let us ask, upon what authority did the New York Commercial Advertiser declare that a number of officers of leading Insurance Companies of New York had, upon consultation, come to certain conclusions affecting the rights of holders of life policies in the South, to the extent that the first gun in a civil war between the Federal Government and the Southern States would wipe out and annihilate $12,000,000 of capital in those States--that sum being the estimated amount of the policies held by Southern people in Northern offices ? Upon what authority did
any possibility, the legal contract could be annulled in such an unfortunate contingency, and which we emphatically deny, this company, and we believe all others, will fully recognize the moral obligation between their customers and themselves, faithfully and promptly to meet all honorable demands which can or may be made against them, without regard to locality, or political views or sentiments. In our business relations we know of no distinction between the North and South, and certainly shall not inquire, when a demand is made upon us, whether the deceased was a citizen of the United States, as now organized, or of a Southern Confederacy; the only question being, as stated in the policy, whether he died while actually engaged in war, or in consequence of having enlisted therein. In the earnest hope that our Union may be preserved entire, and especially that Virginia will remain firm in her allegiance, I am, with great respect, Your obedient servant, [l] Morris Franklin.