The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1905-10-20
Sends Out a Circular Letter to
Public on Subject.
Bill Will Be introduced in Be-
half of PoIicyholders.
Questions Put to the People BY
National Legislator.

New York Oct. l6.-For the purpose
of securing Il comprehensive expression
of public opinion on the question of ma
tional control of life insurance COM
panies, United States Senator John F.
Dryden, who is the president of a life
insurance company, has sent out many
copies of a circular letter, with list of
questions to be answered. In the letter
he says:
I'm his last annual message Presi-
dent Roosevelt called the attention OF
congress to the necessity of federal leg
islation providing for the regulation and
control of insurance companies trans
acting interstate and international bus
mess. In compliance with an increasing
demand from insurance policyhOlders
and others interested in the public well
fare, | introduced into the last con-
gress a bill to this effect, providing that
there should be established within the
bureau of corporations a division of in
smance, and, that policies of insurance
were deemed to be articles of commerce
and instrumentalities thereof.
"The bill was introduced too late to
secure final consideration, but the de-
l.,
even more apparent in the meantime,
and | expect to reintroduce the same,
possibly with slight notifications, into
the congress which is to meet in De-
cember.
"The bill will be introduced on behalf
of the policyholders of all American in
smance companies in the firm belief
that their present and future interest
demand the additional protection of a
federal statute regulating insurance
transactions between the states, in add
dition, of course, to such supervision and
regulation as constitutionally belongs to
the states from which the companies de-
rive their charters. Furthermore, that
by eliminating considerable amount of
needless state supervision the following
important benefits are expected to re-
suit:
Gan increase in the security of the
policyholders.
"A decrease in the expense rate and
the cost of insurance.
"a decrease in the burden of needless
taxation.
a decrease in the amount of clerical
labor now indispensable to meet the
territories.
"The stamping out of fraudulent in
smance enterprises.
adequate national protection for Am
erican companies transacting business in
foreign countries"
These questions are put to the recip-
tents of the circular:
"Do you indorse the suggestion of
President Roosevelt that insurance COM
panies engaged in interstate insurance
business should be regulated by and
brought under the control of the federal
government?
"Do you hold the insurance business
to be national rather than local in
terest and properly entitled to the soil
citude and care of national govern
ment.
GAS matter of personal opinion, do
YOU hold the business of insurance to be
commerce, or an integral and indispens-
able element of commerce in the sense
in which this term is used in everyday
language?
"Are you in any way apprehensive
that it would be ineXpedient or mad
visable to increase the power of the
federal government to the extent i'm
piled in the regulation of insurance by
congress?"