institution can be permanently successful which does not observe equity.
I have no hesitation in saying that every assessment or corporation
company which violates this fundamental law of nature by not making its
rates of assessment increase with the age of the individuals insured, is
_doomed_, and that disaster and wreck is only a question of time.
This is not a new opinion. It's truth is attested by more than one wreck
in this country already.

In every level, or uniform premium, there is a provision for the payment
to the company of the rate of insurance at the actual present age, (no
matter at what age the insurance was affected) on the net amount at
risk.

The great danger for co-oporative or assessment companies lies in the
facility with which such institutions may be organized, and by men
without capital, character, experience or financial ability, who may
thus be ushered into corporate existence by the indulgent laws of
different states.

The members of the National Association of assessment companies should
see to it that the laws of the different states should be so amended as
to require at least a small capital, say $25,000, as a guaranty of good
faith and ability on the part of the promoters, and that no company
should be admitted to membership unless its system was founded on sound
principles as demonstrated by science and business experience.

The managers of assessment companies should be careful lest their claims
should prove to be unfounded. For instance, the writer of the article in
your last number boldly asserts that it "is susceptible of mathematical
demonstration that one or two million of dollars of reserve is adequate