Major Lionel de Rothschild, presiding at the meeting of the Aitiance JAssurance Company last month made pointed reference to a modern endeney which he deprecated as injurlous to insurance business and to the interest of policy holders. He had in mind the "deposits sometimes required by foreign Governments," [This provision took insufficient nolo of the fact that "often a serious loss had been made on the deposits in national currencies which had 10 be set aside against any profits on the provision of insurance." This prac-fice of requiring deposits, desirable from some points of view, might in-ict serious, damage on the interests lot policy-holders if carried to excess. British insurance companies now hold many foreign Government issues made in England which had now be-Jcome a very important factor in the Investment market. These comments indicated once again the effects of the present economic nationalism from which the system of demanding deposits may be said to derive some of its inspiration.
Text read from the printed page and cleaned; old type leaves the occasional error.