Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-11-22
WIDE RANCE OF DISCUSSION
CONTINUED from First Page)

not be subjected to the control of the
Commerce clause of the constitution. This
proposition Is not now Controverted by the
lawyers We have no disposition to con.
trovert It. In fact we are rather glad II
is so, because the tendency to look to
Washington for relief and regulation of all
evils has grown to be much too common
For the regulation of insurance business
We must therefore devise more effective
methods of state supervision and state
legislation defining the rights of policy
holders and fixing the obligations OF COM
paniss. But when all Is done tor the res,
for or dreamed Of there Is one thing that
must of necessity be left TO individual
enterP;se local pride ana oG ~ t5s
insurance business as the great balance
wheel of commerce.
The twenty-three states and territories
lying west of the Mississippi river last year
contributed to fire insurance companies
! alone, premiums amounting to $50, 5000; to
| companies, $l1,01l,O00; making q total OF
Sl0i.s1O,c00 not including traternal insur-
rance.
of the companies other than life report
| ing to the Missouri department ana au-
| thorized to do business in this state the
aggregate gross assests amounted to over
| 6Jl.O0j,OCO at the end of last year. with a
! total income from permium and interest
earnings OF over $500 OOOO00 These figures
4 repi esent values almost beyond the COM
! pr he nsion of ordinary men, but these
| totals, which include branches of the in
/
! comparison almost insignificant with the
| corresponding totals of the life insurance
| companies The life companies, according
| to the Department Of Insurance Of Mis-
| souri,, have assets OF nearly $4,000 Geo.
! with an average annual income OF nearly
| &0l0c0,C0. The average annual disburse-
ments of the life companies an all ac-
counts whatsoever, amount 20 less than
6 per cent of their income thus emphasiZ
ing the important fact that insurance upon
lives conducted upon the legal reserve plan
contemplates laying aside a substantial
portion Of each years income to dischaI &c
obligations maturing in the distant future.
| This fact emphaizes in the strongest
manner the vital importance from an
economic standpoint OF the western section
of this country doing part at least OF
Its own business of life insurance. Other
wise. financially speaking. it will remain
tributary and dependant upon the within
OF eastern hnanclers'
we get hard up2
II great banking corporations are to be
built up on the deposit of Insurance funds
let Is be our own banks
II farms and factories are to be estah-
lished by the use of insurance accum.
ulations, then, let It be the farms and
factories Of the people who pay the
premiums
II railroads are 10 be bnilt and equipped
premiums, let It be the railroads OF Ghis
great Irsnsmissssippi country and with.
the stock market Of New York.
w. $. Woods, president of the National
Bank of Commerce Of Kansas City. spok,
in favor of more flexible currency anC
for the expension OF our money supply
He favored laws providing for the issue
of emergency currency secured by clear
ing house certificates.
Resolutions were presented as follows:
, Resolutions Presented.
BY j. T. Harris of Galveston, favorin,
{ liberal appropriation under continuing
the Improvement of the harbors OF an,
Gulf OF Mexico and the Pacific coast.
BY l.. B. Prince OF New Mexico, favor
ing the establishment by congress of
national department of mines and mining
q BY l.. Is, Prince Of New MeNico, provid
, no longer be deprived OF self-governmen
! ana that territory should be admitted a.
/ a state whenever 1t adopts a suitable con
4 stitutiOn and applies Tor such admission.
! by n. r. Mnltemore OF So Louis, re
affirming previous action Of the congress
favoring the upbuilding Of an American
! merchant marine,
a Former Governor Brady tonight deliv
e cred an address, which was illustrated, OF
$ Alaska.
r The resolutions committee was organize,
10 to-day, with John p. Irish Of California a
chairman.
3 A resolution was offered by Harry Have
{ Of ST. Louis asking the congress TO endors
= the action OF the Deep Waterways conven
q tion In ST. Louis ina advocating the building
10 of a deep waterway from the great lakes O
! to gulf. Mr.. HAYES offered another resolu
;, ton which was passed by the recent Dee
3 Waterways convention, demanding that an
d representatives or this country enter int
o TO treaty with Great britain which Wi
b limit the flow OF water ga any weterga
t wholly in the United States
a Al the afternoon session John Barrett
n United states minister 20 Colombia, spok
d On Trades Relations with the Latin
}. American Republic"
y Following Minister Barrett and speakin
4 along the same general lines. hrief talk
q we're made by Minister Caideron Of BolIvis
a Minister Pardo az Peru, Minister Cortes o
/, Colombia. Senior Gurgel do AmareI. frs
e secretary OF the Brazilian legation. and b
x Albert Yoachum, charge d'anaires OF IN
d Chilean legation.
|