Show corner stone of commerce fire insurance has long been called the handmaid of commerce but decently lecent ly president 11 11 smith nf the national board of fire underwriters rang a new change or on the phrase by making it the cornerstone ot of commerce the public usually thinks of lire fire insurance as protection against loss of physical property by fire the part played by insurance through the investment ot of its reserves and cash assets in other business and industries is not frequently mentioned secretary louis T moore of the wil north carolina chamber of commerce called attention to the investment side of insurance when writing a letter of appreciation to the carolina insurance company which submitted the most favorable of 18 bids received tor for in city of wilmington in bonds there is no difference between insurance assets helping to a great industry and helping to build a greater city in both cases assets that stand behind the protection to business or the community are used to enlarge productive enterprise thus does insurance become the corner stone of 0 commerce referred to by president smith without insurance today the basis of commercial credit would be practically wiped out anything which interferes with sound insurance policies automatically weak i ens our credit structure |