The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-10-15
Seeks Federal Regulation Of
The Insurance Business
WILL RE-|NTRODUCE BILL
Thinks His Measure VIII Decrease
Expenses and Cost of Insurance
and Otherwise Benefit
Policy Holders.

New, York, October 14.-For the purpose
of securing comprehensive expression
of public opinion on the question of ma
tional control of life insurance compan-
les, United States Senator John f. Dry
den has sent out many copies of the fol-
lowing circular letter with the appended
list of questions to be answered:
Newark, n. J.-My Dear Sir: In his
last annual message President Roosevelt
called the attention of Congress to the
necessity for federal legislation providing
| for regulation and control of insurance
| companies transaeting interstate and in
| ternational business In compliance with
| an increasing demand from insurance
| polcyholders, and others interested In tho
public welfare, | introduced into the last
| Congress a bill to this effect, providing
| that there should be established within
the bureau of corporations division OF
insurance, and that policies of Insurance.
were deemed to be articles of commerce.
and instrumentalites thereof. The bill
| was introduced too late to secure final
consideration, but l expect to rc-intro-
duce It, possibly with slight modifica-
tions, into the next Congress.
Benefit for Policy Holders.
The bill will be introduced on behalf
| of the policyholders of all American in
surance companies and the following iu-
portant benefits are expected to result;
l. An Increase In the security of the
policyholders
! q A decrease in the expense rate ana
| the cost OF insurance.
| 3. decrease In the burden Of needless
| taxation.
A. A decrease In the amount Of clerical
| labor now indispensable to meet the re-
quirements of some fifty states and ter
ritories.
5. The stamping out of fraudulent In
| surance enterprises.
g. Adequate national protection for com-
panes transacting business in foreign
countries.
Since thus far interstate insurance
| transactions have not been brought with
In the scope of congressional action, de-
| sire to secure an expression of views
from the interests affected by such a
! measure. and | therefore take the liberty
| of troubling you with a question to which
| | would like to have you reply either
yes or no, as the case may be, together
with any additional comments of your
own which you wish to make upon tho
matter.
III entirely convenient kindly fll in
| and return to me the attached blank
| In the enclosed stamped envelope and
accept In advance my sincere thanks for
your courtesy and cooperation. am
very truly yours JOHN f. DRYDEN.
Submits List of Questions.
Q.-Do you endorse 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?
Q.-Do you hold the insurance bus-
mess to be a national rather than a.
local interest, and properly entitled to the
solicitude and care of the national gov
ernment?
Q-As a matter of personal opinion
do you hold the business of insurance to
be commerce. or an integral and nds-
pensable element of commerce In the sense
in which this term is used In every day
language?
Q.-Are you In any way apprehensive
that II would be lnexpedient or inadvisa-
| BILE to increase the power of the federal
! government to the extent implied in the
regulation of insurance by Congress?