US Presidency
1931

Any moneys advanced against them, together with its interest, will be automatically deducted from the value of the certificates in case of death or upon maturity. No one will deny that under the pressures or allurements of the moment, many will borrow against these certificates for other than absolutely necessary purposes. The loss to many families means the destruction of the one safeguard at their most critical time. It can not be contended that the interests of the families of our country are conserved by either cashing or borrowing upon their life-insurance policies. I have no desire to present monetary aspects of the question except so far as they affect the human aspects. Surely it is a human aspect to transfer to the backs of those who toil, including veterans, a burden of those who by position and property can care for themselves. It is a human aspect to incur the danger of continued or increased unemployment. It is a human aspect to deprive women and children of protection by reckless use of an endowment policy.