Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1905-05-25
PRESIDENT MAY PROBE INSURANCE.


The suggestion of President Roose-
Welt In his message to Congress in re-
lation to government supervision of in
surance has borne fruit, but perhaps
pated. Mr.. Roosevelt has been asked
to take hand in the effort to adjust
the affairs Of the Equitable Life AS
surance society by appointing a COM
mittee of investigation. and it is an
nounced that he has gone so far as to
agree to ascertain what powers he pos
sesses in the matter. IT is not regard
ed as probable that he would appoint
commission. as he did in the case of
the anthracite coal strike inasmuch as
no such emergency exists. nor are the
life and health of millions of people
involved in the present instance as was
the case in connection with the great
coal strike.
There can be no question that Prcsi-
| dent Roosevelt is profoundly impressed
eminent supervision Of insurance. for
| in his last message to Congress ne
said: The business of insurance
vitality effects the great mass of the
people of the United States and is nat
ional and not local in it's application.
1t involves multitude of transactions,
among the people of the different
States and between American COM
panies and foreign governments
urge that the Congress carefully con-
slider whether the power of the bureau
of corporations cannot constitutionally
be extended to cover interstate trans
actions in Insurance."
While owing to the shortncss of the
session Congress failed to pass any
legislation along the lines suggested
mendation in question met with re-
Spouse in the way of the introduction
Of bills in both branches Of that body
which had for their object government
supervision of insurance. 1t is sig
nificant. moreover, that one of these
bills was introduced by Senator Dry
den OF New Jersey, who is president
Of the Prudential Life Insurance COM
pany.
The question has been raised wheth-
er the department of commerce and
labor has not the same authority TO
act in the case of insurance corpora.
tons as is now being exercised In con-
nection with various other kinds Of cor
porations Mr.. Cortclyou had started
an investigation to determine whether
or not the bureau OF corporations had
this power when he retired from tho
department, and no decision has as yet
been reached by his successor.
Under these circumstances there is
considerable doubt whether President
Roosevelt has the power to comply
with the request of New York business
men. much as he is impressed with the
desirability OF action in the case in
question and he will probably not act
until he has consulted with the legal
talent in his cabinet.
In the meantime William +. King Of
New York. who was largely instru-
mental in laying this matter before
the President. is credited with the
declaration that in case Mr.. Roosevelt
decides he has no power to order an
investigation by the national govern
ment, he will start an agitation in
every State in the Union prior to the
converting OF Congress the coming
autumn by sending out literature to
every merchant and every manufacture
ing concern having rating on $4,000
worth of capital stock. II this threat
is carried out, the subject is likely to
be kept before the public for con-
siderable period to come