[Footnote 6:  See Vol.  I, p. 279.]

[Footnote 7:  The following are the chief statistical facts regarding
the life insurance business in the United States, Jan. 1, 1914,
showing separately legal reserve and assessment companies, and the total.
  ------------------------------------------------
------------------
                  | Number of | Policies | Insurance
                  | Companies | in force | in force
                  | | |
  Legal reserve ..| 260 | 38,206,000 | $20,256,000,000
  Assessment .....| 605 | 8,789,000 | 10,023,000,000
  Total ..........| 865 | 46,995,000 | 30,587,000,000
  ------------------------------------------------
-----------------
                  | Premium | Total | Per cent income
                  | income | income | from premiums
                  | | |
  Legal reserve ..| $715,000,000 | $946,000,000 | 75.6
  Assessment .....| 138,000,000 | 153,000,000 | 90.2
  Total ..........| 853,000,000 |1,099,000,000 | 77.6
  ------------------------------------------------
----------------
                  | Payments to| Assets | Assets for each
                  | policyholders| | 100 insurance
                  | | | in force
                  | | |
  Legal reserve | $470,000,000 |$4,659,000,000 | $22.66
  Assessment .... | 106,000,000 | 195,000,000 | 1.37
  Total ....... | 576,000,000 | 4,854,000,000 | 15.87
]

[Footnote 8:  In 1913 the total premiums collected by all kinds of insurance companies reported (Statistical Abstract of the U.S., 1914, pp. 549-557) were about $1,512,000,000, and the amount returned to policy holders the same year was $918,000,000, or about 61 per cent of all premiums, the amount not returned ($584,000,000) being 39 per cent.

Premiums received   Returned to policyholders
Amount      Percent

Life insurance
reserve companies ..$715,000,000 $470,000,000 67
assessment companies 138,000,000 106,000,000 76
Other kinds ......... 659,000,000 342,000,000 52
------------- ----------- --
Total ........... $1,512,000,000 $918,000,000 61
]

[Footnote 9:  See above, secs. 2 and 5.]

PART IV

TARIFF AND TAXATION

CHAPTER 13

INTERNATIONAL TRADE