Great advances
have been made however in the last three or four years, and much that
was objectionable has been corrected. Wise legislation has been secured
in many States. At the last session of her legislature, Massachusetts
signalized an important step in advance, by enacting a law whose
provisions indicate an intelligent comprehension of the subject on the
part of her legislators, unsurpassed by those of any other State. It has
already begun to correct existing evils, as its advocates foresaw it
would do.
Several companies dishonestly and incompetently conducted have found it
impossible to longer prey upon a too confiding public.
The collapse of fraudulent concerns has furnished an occasion for the
enemies of the system to cry out against the system itself, but thinking
men are not deceived thereby. As was recently remarked by a
distinguished ex-insurance Commissioner of Massachusetts, "Assessment
Insurance has come to stay." There is not, as has been claimed by its
opponents, anything inherent in the system that fore-dooms it to early
and inevitable collapse.
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