Excerpt from The Investments of Life Insurance Companies
The subject of this book was chosen in 1903 at a time when insurance questions did not command much public attention. Since then has appeared the present almost feverish interest in problems of insurance. There had long been, however, in insurance circles rumors that the funds of certain life companies were being improperly used. It was therefore one purpose among many others in making this study to investigate these rumors.
Before the work was completed, such an inquiry was rendered largely unnecessary by the official investigation by a committee of the New York Legislature. Consequently in the present book little emphasis is laid upon that phase of the subject, and we have been enabled to devote a larger part of our attention to the more congenial task of tracing the beneficent influences which life insurance accumulations have exercised upon the economic development of the country and the relation of those accumulations to social welfare.
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