Evening star., 1941-03-19
C.l. u. Chapter Hears
Warning on Financing
Defense Expenditures
Life Underwriters Are
Told of InfIution
Danger by Speaker

Addressing more than $50 mem
berS and guests Of District OF Co.
lumbia Chapter, American Society
of Chartered Life Underwriters, at
Hotel Carlton last evening, DR..
Claude L. Benner, vice president OF
the Continental American Life In
surance Co. of Wilmington, Del,
| urged extreme caution in financing
the coming expenditures in connec-
ton with national defense, If the
country is to avoid the pitfalls of in
flation, rising prices and never-end-
ing deficits. The days ahead are
critical, but there is no cause for
either despair or alarm, DR.. Benner
asserted.
The defense program can be
financed without causing a rapid
rise in prices if the Government has
the courage to levy taxes so as not
to destroy savings, if priorities are
established, if businessmen exercise
care in buying ahead and If unjusti-
fed wage increases are not demand
ed and secured.
A huge amount of Government
borrowing will be necessary, and
life insurance companies will stand
ready to put their funds into these
bonds, the speaker added. express
ing the hope that the Treasury will
put coupon on the bonds that will
not seriously embarrass insurance
companies in their operations.
Hits Selling by Banks.
Speaking on Adjusting Life In
surance to New Conditions" DR..
Benner declared that the 100000
100000 in force today was the result
Of much toll and pleading by life
insurance statesmen and branded as
"chiseling" the selling of life in
surance by banks.
The influx of gold from abroad
and the failure of business to ex-
pand, on account of uncertainty
over profits, have been the chief
reasons for present low interest
rates, he said. He attacked the
"oversaving" theory and the need
for permanent Government
spending In order tt. keep the wheels
of business constantly in progress.
He also expressed the belief that
there will be plenty Of opportuni-
ties for capital expansion after the
present emergency is over.
One of the country's leading med
ical men, DR.. Perrin H. Long, pro-
fessor of preventive medicine. Johns
Hopkins University Medical School.
was introduced. He spoke briefly on
Saving Lives"
The guests were welcomed by J.
Hicks Baldwin, president Of the
chapter, which is made up Of many
of the leading men in the insur-
ance field in the Capital, all having
graduated from the American Col
lege of Life Underwriters. The
POSTMASTER was Senator Danaher Of
Connecticut.
At Speakers Table.
Honored guests were seated at
the speakers table and included
Benjamin Ak. president. American
Society Of Chartered Life Under
writers; Albert A. Atwood, magazine
writer on finance; James E. Colli-
flower. president. Washington Board
of Trade; Abner H. Ferguson, ad-
nlinistrator, Federal Housing Au-
thority; Roger B. Hull, general
counsel. National Associa ton of. Life
Underwriters; James S. Kemper.
president, United States Chamber of
Commerce; William Montgomery,
president, Acacia Mutual Life In
surance Co.; Chairman Randolph of
the House District Committee; Emil
Schram, chairman, Reconstruction
Finance Corp; 10 v. Morgan, Dis
trict Board Of Tax Appeals, and
Sumner T. Pike, Securities and Ex-
change Commissioner.
Members of Washington Chapter,
Chartered Life Underwriters, who
were hosts at the dinner, include J.
Hicks Baldwin, j. Allen Maphis.
John L. McElfresh, Roger L. Bald
win, Edward S. Brashears, Robert
w. Castle, H. Lawrence Choate. John
B. Cleland, jr.; Lawrence c. Craw-
ford, James A. De Force, H. Cochran
Fisher, Robert c. Gilmore, Richard
w. Griswold, Charles w. Hackney.
w. Ford Harvey, Harrison r. Hath
away, Karl s. Hoffman, James 8.
Holmes, Richard L. Kane, Leon
katz, Harold D. Kraft, George Link,
Joseph A. Mari, Samuel E. Mooers,
T. Loehl O'Brien, j. Mitchell Owens,
Troy M. Rodlun, Earle w. Sapp,
Dwight T. Scott, Russell Shelk, Paul
D. Sleeper, Warrent s. Stone,
Samuel J. Sugar and Bernard L.
Wilmer.
The Dinner Committee was COM
posed of Richard w. Griswold,
chairman; Lawrence C. Crawford,
James A. De Force, H. Cochran
Fisher and L. Allen Maphis.
The guest list follows:
A
ak, BENJAMIN AusSern. II. Thomas
Atwood. Albert W. Axman, Clarence
r