The Irish standard., 1906-09-29

essential to the building up. growth
and development Of Minnesota, than is
the common carrier of the state.
Both arc essential to the public well
fare and there can be no true devel-
opment of Northern Minnesota or
Southern Minnesota, 30 long as there
cality at the expense Of another. I"
During my entire administration !
have upon every possible occasion
done that which I could consistently
and righteously do to bring about
reduction of the rates of transporta-
tion, because 1 believed they should
be reduced, and IL re-elected to the
high office of governor I shall devote
every possible energy ito the establish
ment of a true and Just condition be-
tween the people and, the common car.
riers Of the state. -
The history of railroad regulation
and rate reform is apart of the his
tory of this administration and can
not be denied. The progress which
has been made has been the direct re-
suit of the suggestions and co-opera-
tion of the chief executive of this state
and it is a singular thing that the only
two great general reductions which
have come to the people Of Minnesota
during the past half century came
under the administrations of Governor
John Lind and myself. In discussion
of this question my opponent, if cor
rectly reported, has proposed as
solution of the railway rate question
the adoption Of new laws. This is the
familiar plan proposed to postpone and
evade action.
lnsuranee.
One of the great questions that mas
forced itself upon the public mind dur
ing the past two years is. that of in
| surance and the proper regulation and
| supervision of insurance companies in
I the control of the vast amounts or
| money committed to their care for the
protection and the benefit of the peo-
pie. Human mind is scarcely Capable
OF grasrins tbs 1ssss1M mat 1g i hsmatics or the
total figures involved in insurance
finance. A glimpse of the situation is
gathered from the fact, that in the
single state of Minnesota 3S5,5l2 poll
cies are carried upon the lives of men
and women who have some one de-
pendent upon them for support; that,
with the lowest possible estimate, at
least three persons are represented and
interested In every policy carried; and
that over a million people in this state
are directly concerned in the life in
surance business. The amount Of
premiums paid annually by these in
sured people is over $1o,O0O,Oo0 and
the total amount of insurance carried
by these policy holders is more than
half billion dollars.
| 1t is not alone in the matter of life
insurance that the people of Mime.
sofa are interested. They carry today
! more than a billion dollars in fire
insurance and pay annually more than
seven millions of dollars in premiums
| for the fire insurance which they MAIN
tain. In addition to this, the people
bearing casualty insurance pay up
wards of million and a half of dol
lars annually in premiums.
do not propose to discuss the vari-
GUS and specific acts; of the depart-
ment Of insurance further than to say
that through the efforts Of the insur-
ance commissioner, Thomas D.
|O'Brien, the company referred to was
stopped in it's mad course toward
bankruptcy, placed on sound, con-
servative business basis, and the as.
sets preserved to the thousands Of
people who had invested in it their
savings. Through the efforts of tho
state, the company has been reorgan-
lied and a set of honest and ef7icient
directors ana OmCerS lnStalleu; tne
former officials, recreant to their trust,
have been indicted and in part con-
victed; the interests of the policy
holders have been protected; the COM
pany itself preserved and strengthened,
and Minnesota saved the shame of a
financial scandal.
Nor have the efforts Of the admin
istration been confined 20 the insur-
ance situation within our own state.
BY reason of it's activity, energy and
Intelligent management Minnesota has
become q pioneer in the movement
for insurance reforms within the ma.
ton, and to such an extent that the
governor of Minnesota and the insur-
ance commissioner appointed by him
were approved and commended by
Theodore Roosevelt. president Of the
United States. in a message to con-
gress upon the insurance question, in
1 in.