Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-11
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The
Saturday
Star.
BRAKES STATEMENT
GIVING THE FACTS AS TO THE
PRESIDENTS LETTER TO HIM.

Thomas E. Drake. superintendent of in
today referring to the criticisms of the let
ter of the President to him several days
ago, regarding limiting the salaries of Of
ficers in insurance companies. Representa-
tive ]. L. Robinson introduced a resolution
in the House yesterday calling on the Presi-
dent for information regarding this letter to
Mr.. Drake, and it was after a conference
with the President at the White House this
morning that Mr. Drake made this public
statement. which is follows:
with reference to the criticisms of the
letter of the President to me, opposing
legislation limiting the salaries of presi-
dents of life insurance companies, brief
statement of facts is due.
THE President was deeply interested in
having suitable uniform insurance legs-
Iation enacted, and to this end requested
me to call and arrange for a conference
of as many of the governors, attorneys
general and insurance commissioners of the
states and territories as could be gotten to-
gether to consider the whole subject, which
I did, and the convention met in Chicago.
February / and 2, 1906, and appointed
a committee of fifteen to prepare and
report to Governor johnson of Minnesota.
president of the convention, a life insurance
code which 1T was thought might be adopt
ed by the states and by Congress for the
territories and the District of Columbia
This committee held fol sessions. the last
one in Chicago November IL to Il, inclu-
sive. At this meeting the final report of this
committee was in substance agreed upon,
and subcommittee was appointed TO put Ii
in final shape, as to order, style. ETC.: have
it printed and report to Governor johnson.
about midnight of the last of these meet
ings. when but seven of the committee We're
present, resolution limiting the salaries
of presidents OF life insurance companies
was introduced and adopted. l being the
only one that voted against it.
knowledge of this came to the Presi-
dent He did not believe that the states
or Congress could thus restrict the power
of corporations to make contracts, and
thought that even If they had such power
its exercise at this time was untimely and
unwise. He had followed with deep inter-
est the doings of this convention and this
committee of fifteen. and was anxious that
something like that which had been thus
proposed should be enacted. and was fully
convinced that besides the other objection
to it this provision would meet with such
opposition to endanger the whole bill.
Hence his letter to me.
From the first he had authorized me to
represent him in all these matters, where
his views might with propriety be ex-
pressed, and 1t was known to this conven-
ton and this committee that he was deep
Iy interested in all that they were doing.
There was no mystery, secrecy or con-
cealment about this letter to me. He hoped
that, in thus writing me and pointing out
some Of the objections to this measure. II
might be eliminated from the final report.
Eat that time he had no thought that his
letter would be sent to the other insurance
commissioners. This idea was wholly my
own, but he consented to its being sent out,
IL 1 deemed ii best to do so.
"In this convention and in the meetings OF
the committee of fifteen l had openly ex-
pressed the views of the President upon
md ana lad m
have me do so: and there was no thought
of undue executive interference.
TT Is due the President to say that. in
sending his letter to me, he had no thought
Of its going beyond me. and consented to
it's being sent with It's Enclosures to the
commissioners because / thought that thus
calling attention to some OF the objections
to this measure 1t might still be elm
mated"