The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1905-12-05


their letters"
Insurance.
the great Insurance companies AFFORD strik-
inT examples OF corporations whose business
mas extended so far beyond the jurisdiction OF
the states which created them as to pre-
clude strict enforcement Of supervision and
regulation by the parent States. In my last
annual message ! recommended that the
congress carefully consider whether the pow
er OF the Bureau OF Corporations cannot con-
additionally be extended TO cover Interstate
transactions In insurance" Recent events
have emphasized the Importance OF an early
and exhaustive consideration OF thia oues-
tion. TO see whether II Is not possible to fur
nish better safeguards than the sevei AZ
states have been able to furnish against cor
ruption OF the nagrant kind which has been
exposed. II has been only too clearly shown
that certain OF the men at the head OF these
large corporations take but small note OF the
ethical distinction between honesty and dis
honesty they draw the line only this side
OF what may be called law-honesty the kind
OF honesty necessary In order TO avoid fall
ing into the clutches OF the law or course
the only complete remedy for this condition
must be found in an aroused public con-
science, a higher sense Of ethical conduct in
the community at large, and especahy
among business men and In the great pro-
iesslOn or the law and Ia the growth Of a
spirit which condemns all dishonesty, whether
IN rich man or In poor man. whether II takes
the shape OF briOery or OF blackmal But
much can be done by legislation which is
not only drastic but practical. There "a need
q far stricter and more uniform regula-
ton OF the vast insurance interests OF this
country. The United States should In this
respect follow the policy OF other nations by
providing adequate national supervision OF
commercial interests which are clearly na-
tiona IN character. My predecessors have re-
peatedly recognized that the foreign business
OF these companies Is an important part OF
our foreign commercial relations. During
.uNN NNUnI
Harrison. and Mckinley the State depart
ment exercised It's influence, through diplo-
matte channels. to prevent unjust dscrimi-
nation by foreign countries against American
Insurance companies. These negotiations IL
Illustrated the prOpriety OF the Congress rec
osnizing the national character Of insur-
ance, for In the absence OF federal legislation
the state department could only give ex-
preston 20 the wishes Of the authorities Of
the several states whose policy was inef-
fective through want OF uniformity
] repeat my previous recommendation that
the Congress should also consider whether
the federal government has any power or
owes any duty with respect to domestic
transactions IN insurance OF an interstate
character. That state supervision has proved
inadequate is generally conceded The burden
upon Insurance companies. and therefore
their policy holders, OF conflicting regu-
lations Of many states. Is unqnestOued while
but little effective check In imposce upon any
able and interruptions man who desires to
exploit the company In his own interest at
the expense OF the policy holders and OF the
public. The inability Of a state 10 regulate
effectively insurance corporations created un-
der the laws or other states and transacting
the iarEeF part Of their business elsewhere
Is also clear. As a remedy for this evil OF
conflicting, ineffective. and yet burdensome
regulations there has been for many years
a widespread demand for federal supervision.
The Congress has already recognized that
interstate insurance may be a proper subject
for federal legislation, Tor In creating the
Bureau Q! Corporations t authorized u to
publish and supply useful Information con-
eerning interstate corporations. including
corporations engaged in insurance" II is
obvious thar " the compilation Of statistics
be the limit Of the federal power, Il Is wholly
ineffective 20 regulate this form Of CONNER
cial intercourse between the states, and as
the insurance business has nutgrawn In mag
nltude the possibility Of adequate state
peTtisiOu. the Congress should carefully con
ssd~r wheihrr further legislation can be had.
What IS said above applies with equal FORE
to fraternal and benevolent organizations
which contract for lie insurance
The Revenues.
There Is more need Of stability than OF
the attempt 70 attain an ideal perfection In
abe methods OF raising revenue: and the
shock and strain TO the business world eer-
tain 70 attend any serious change IN these
methods render such change iuadvihabie un-
less for grave reason. II is not possible to
lay down any general rule by which to de-
termlne the moment when the reasons for
Will outweigh The reasons against such a
caange. Much must depend, not merely on
the needs. but on the desires, 81 the people
as a whole Tor needs and desires are not nee
essarlly identical. OF course no change can
be made on lines beneficial 10. or desired
by one section OF one state only. There must
BE- something Ike general agreement among
the citi1sns Of the several states. as repre-
sented 10 the Congress. that the change Is
needed and desired 10 the interest Of the
people as whole: and there should then be
a sincere Intelligent and disinlerested EFFORT
10 make IL In such shape Will combine. 50
far as possible, the maximum of good 10 the
people at large with the minimum OF neces-
sary disregard for the special interests Of
localities or classes But In time OF peace
the revenue must on the average, taking
q series Of years together. equal the expendi
lures or ELSE the revenues must be increased
Last year there was a deficit. Unless cur ex-
penditHres can be kept within the revenues
then our revenue laws must be readiusted
II la ne yet too early to attempt 10 outline
v hat shape such a readtustment should take
Tor II is as yet too early 70 say whether
there will be need for a. II should be con-
sldered whether 4 Is not desirable that the
larin laws should provide for applying as
against or IN favor of any other nation maxi
mum and minimum tarin rates established -
the Congress as TO secure a certain reci-
procty Of treatment between other nations
and ourselves. Having in view even larger
OF policy than those OF
purely economic nature IL would In my
'loser commercial connections with the other
people Of this continent. ! am happy 10 b.
lhie 10 announce TO you that Russia now
reats Us on the most-favored basis.
Economy In Expenditures.
I earnestly recommend to the Congress
he need OF economy and to this end of a
'igid scrutiny Of appropriations As examples
merely. ! call your attention to one or two
peoinc matters. All unnecessary Offices
houid Be abolished The Commissioner Of
he General Land once recommends the
lbolishment OF the Office OF receiver Of pub
ic moneys for United States land ofiices.
This will effect a saving OF about quarter
V a million dollars a year. As the business
4 the natiop grows II is Inevitable that there
hould be from time 70 time legitimate in
rease Ia the number OF officials. and this fact
enders II ali the more important that when
hices become unnecessary they should be
bcllEhed In the public printing also a large
AvinE OF public money can be made There
3 . constantly growing tendency to publish
masses OF unimportant information Il IS
probably not unfair 70 say that many tens
Il thousands OF volumes are published at
which no human being ever looks and for
which there Il no real demand whatever
Yet in speaking OF economy. l must in no |
Wise be understood as advocating the false
which Is In the end the WORST ex-
raTagance. To cut down on the navy for |
Instance would be crime against the ma
ion. To fail TO push forward ali work on
he Panama canal would be as great folly |
Currency.
In my message Of Dec. ?, 1902, to the Con-
ress I said
Interest rates are a potent factor in bual-
less activity, and In order that these rates !
nay be eouailzed 10 meet the varying needs /
I the seasons aud Of widely separated com
lunltles and 10 prevent the recurrence Of /
aI.H M8~aI. 80 fnN t.sa,