The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-07-06
n DAILY
BOOK REVIEW
LIFE INSURANCE.


There has just been put on file in the
larger Libraries of the country a volume
containing the addresses and papers on
life insurance and other subjects by
former United States Senator John F..
Dryden, organizer and president OF the
Prudential Insurance Company Of
America.
It viii be remembered that President
Dryden first successfully introduced and
operated Industrial life insurance in the
United States. and his new book contains
much Information concerning life insur-
anee Tor the masses, or what is com.
monty called industrial insurance.
Mr.. Dryden's book is one Of the very
few books that have been written on this
subject The volume treats Of the incen-
ton and early problems of the business.
as well as the social economy and prac-
tee OF what the author claims is one OF
ne most effective methods OF family
protection ever devised. Mr.. DRYDEN also
points to the opportunities of life lnsur-
ance as career, and in his book brings
out clearly that only one-hfth Of the
population carry legal reserve life fnsur-
ance. The author tells OF the new system
OF life Insurance successfully introduced
by the Prudential about two years ago
by which the payment of life Insurance
money through the medium of monthly
income checks Is divided over the entire
lifetime Of the widow or other depend
ents rather than paying IL In one sum
directly al the death Of the insured. Mr.
Dryden believes that this method of dis
tributing life insurance Is directly in line
with the American ideal OF the highest
possible degree of economic independence
in old age. and that this new plan Of the
Prudentiafs marks an epoch IN life insur-
ance.
The author takes up the question OF
taxation OF life insurance in the United
states and the regulation of insurance by
Congress, arguing strongly for a reduc-
ton In the tax upon life insurance and
also for the placing of life insurance IN
der national supervision. in order TO bring
about uniform laws for the conduct OF the
business.
When Mr.. Dryden was in the United
States Senate he was a member of the
Senate Committee on Isthmian Affairs.
and as such made a strong plea for the
adoption of a lock canal at Panama.
which plan was adopted. Mr. Dryden,
In his speech before the United States
Senate, which is printed in his book. ar
gued for the lock canal because he
claimed it would cost the American peo-
pie 100000. 900 less than any other type
and he wanted 20 avoid what In his
mind. was the imposition Of needless
burdens upon the taxpayers OF this ma
ton and upon the commerce Of the
world
Mr. Dryden concludes hts book with
short address on Abraham Lincoln and
Alexander Hamilton He brings out the
fact that Hamilton was the first 10 ex-
press the opinion that the regulation OF
insurance was within the meaning OF the
commerce clause Of the Constitution. Mr..
Dryden states that his own course in
public and business life was largely infiu-
enced by the fundamental principles Of
party government and party response
bihty and the high ideals in political,
business. and social life of both Hamilton
and Lincoln
Mr. Dryden's book viii undoubtedly be
used by many as a reference book on life
insurance. and particularly industrial life
insurance. (New York: The Prudential
PTess)