“I am speaking particularly of the insurance phase of the situation,” he said in part.  “The United States Government to-day is the greatest insurance institution on earth.  Thirty-nine billions of dollars of applications have poured in from over four millions of men; an average of practically $9000 per man is held throughout the United States and abroad, and over 90% of these men are insured.  That insurance is the best in the world, because the greatest and the best and the richest Government on earth says, ‘I promise to pay.’  It is the cheapest insurance in the world and always will be because the Government says, ’As part of our contribution, we, the people of the United States, in this war, as a legitimate expense, will pay all cost of administering this Bureau.’  So that the men who have this insurance now and those who have it hereafter will pay only the net cost.  If there is any savings, they get it.  So that for all time to come they have got the insurance cheaper than any other country except the United States can give them.  I say that without any improper comparison with the splendid, properly organized institutions in the United States.  It is simply this:  That the people of the United States pay this cost of administration.  By June 1st the policies of conversion will be ready to be delivered to those who want them.  You will be able to cease term insurance, if you wish, and have ordinary life, limited payment life, or endowment insurance.  You can have any kind you please, but the big thing, my comrades, is this:  To retain every single dollar of this insurance that you can afford to carry.  Don’t be in any particular hurry about conversion.  If your income isn’t good—­carry this message back to the boys throughout the United States—­if their income at this time doesn’t justify carrying higher priced insurance, retain that which they have got and throughout this country tell the men that those who have lapsed their insurance because they didn’t understand its value, because it wasn’t properly presented to them at the period of demobilization by the Government, for it was not, tell them they are going to have every right of reinstatement without physical examination.

“There is going to be no snap judgment on any man who served in this war who, because he was not able when he went out or didn’t have the information or because he was careless or for any other reason didn’t carry on his insurance.  I ask you, my friends, and I think it is one of the important functions of this great American Legion that is born here in St. Louis at this time, to see that the fullest possible amount of this government insurance is maintained.  Every man that holds a government policy is a part of the Government more than ever before.  I ask you to bear this in mind and it is going to be within your power to say yes and no to many of the great problems of the United States.

“I ask you to see that this great bureau is kept out of politics and that it is administered, in the years to come in the interests of those for whom this law was enacted, those who served as soldiers, sailors, and marines in this war and their dependents.  I thank you for this opportunity of presenting this matter to you.”