Answer:
Using business or financial terms, Senator Norris stated that American labor force as American citizens were insurance policies to the money that the U.S. had given to the Allies.
Explanation:
An insurance policy is a "formal contract-document issued by an insurance company to an insured. It (1) puts an indemnity cover into effect, (2) serves as a legal evidence of the insurance agreement, (3) sets out the exact terms on which the indemnity cover has been provided, and (4) states associated information such as the (a) specific risks and perils covered, (b) duration of coverage, (c) amount of premium, (d) mode of premium payment, and (e) deductibles, if any.
The former speech paragraph explains what did he mean by insurance policies:
"We have loaned many hundreds of millions of dollars to the Allies in this controversy. While such action was legal and countenanced by international law, there is no doubt in my mind but the enormous amount of money loaned to the Allies in this country has been instrumental in bringing about a public sentiment in favor of our country taking a course that would make every bond worth a hundred cents on the dollar and making the payment of every debt certain and sure. Through this instrumentality and also through the instrumentality of others who have not only made millions out of the war in the manufacture of munitions, etc., and who would expect to make millions more if our country can be drawn into the catastrophe, a large number of the great newspapers and news agencies of the country have been controlled and enlisted in the greatest propaganda that the world has ever known to manufacture sentiment in favor of war."
References:
Khan Academy. “1917 Speech by Senator George Norris in Opposition to American Entry.” Khan Academy, Khan Academy, 2019
FinanceWeb. “What Is Insurance Policy? Definition and Meaning.” BusinessDictionary.com, 2019
