The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-10-16
HOLDS IT SECOND
TO RATE REFORM
Roosevelt Will Take Up the Sub
iect of Life Insurance in
His Message.
By w. w. Jermane.

Washington, Oct. 16.-There is abun- !
dant warrant for the statement that +!
the message which President Roosevelt !
will send to congress on Dec. will con-
tain an elaborate argument in favor Of
the naturalization of insurance, and
that this subject will be only second in
Importance, SO far as the message is
concerned, to the railroad-rate question
A year ago, the president contented
himself with a brief mention Of this
question, filling seven lines in the con-
gressional record. and confined to sug-
gestlon that congress inquire whether
it would not be lawful for the powers
Of the, bureau of corporations to be so
extended as to cover insurance. Con-
gress did not act on the suggestion.
Then came the insurance disclosures
have been the most important topic Of
public discussion in the country. The
issue thus raised has become of the
widest interest, and it is reasonable to
assume that congress will now prepare
to give the subject, the attention it de-
| serves. 1-
In Days of Hamilton.
AS long ago as the time when the fed
eral constitution was adopted, the ques-
tion came up as to whether it would not
be well for the general government to
supervise all insurance business, and
the affirmative was taken by Alexander
Hamilton, who, Of all the men who
helped frame the constitution, perhaps
gave most careful attention to it's com
merce clause. His famous argument on
the constitutionality Of the United
; States bank contains a specific refer
, ence to insurance, which appears tc
have been overlooked by. those who have
: written upon the subject, Of insurance
t regulation by congress. After polntln&
: out that all the powers conferred by tn
3 constitution are not speclhcally men e1
!. toned, he enumerates certain palpabl
S omissions and items which admit o
little, if any, question" and amonl
8 these ttthe regulation Of policies Of in
9 surance.' $50
+ The system of state supervision, nov
t universal, originated in Massachusett
n in 1855, and by 1865 this system ha
# become so burdensome that congres
e was memorialized by the insurance con
70 be regulated by the general govern
s. ment, the same as the railroads, tn
ID telegraphs, the banks, and numero,
other lines Of commercial activity: re
j. the past forty years, or since tins M
rs mortal the question Of federal contr
le / has been. agitated, and it's history
TT filled with the names Of prominent me
rs who labored* without avail 70 aceol
e.. plish this result.
re Dryden as Champion.
de The. latest champion of federal reg
IN lation is Senator Dryden Of New Je
J. sey, who is president Of the Prude
tial Insurance company, which ran
- we'll up with the big New York comp
* MES. Senator Dryden introduced b
in the last congress providing for fe
eral regulation, but nothing came Of
D He viii introduce the bill again Il
IL winter and no doubt will secure for
fair hearing |s..' =
Senator Dryden attitude amounts
ial, strong play for commercial advs
iaI tage before the country. His compa
nd would obviously expect to reap lal
Use benefits from his activity along the Il
ic- he is now following, but at the. sa,
nd time he appears to be perfectly fair
de- his arguments and to have approach