But whose money is it? Who paid it to the company, if not the policy-holders? Still, if the business were confined to simple endowment insurance in connection with pure life insurance there would be less objection, although banking is properly no part of insurance; but the fact is, a far more speculative business is done, called Tontine insurance. This form may be fitly characterized as the gambling form, inasmuch as the only hope of profit to a few is that the many will be robbed of their savings. Tontine insurance is profitable to the few in just the proportion that misfortune shall overtake those who participate in it. No man would risk large payments with the certainty of losing all if he should fail to make one such payment in a term of years, if he were not tickled by the hope that others would be the unfortunate ones compelled by circumstances to discontinue and lose all, while he would be the exception and profit by their loss. But he should consider that, even if he persists in paying through the specified term, he is still at the mercy of the company in the division of the spoils. They may use as large a part of the plunder as they please in the expense of the business, and the experience of many will attest that, while for the company it was "turkey," for them it was "crow." President Greene, of the Connecticut Mutual Life, in a series of able articles, has exposed the injustice of this system, and shown, to the satisfaction of unprejudiced minds, that it is no part of legitimate life insurance. Still, some companies are making Tontine and Semi-Tontine insurance their specialty.