The British Press; or, Morning Literary Advertiser.
London, England, 1824-05-28 00:00:00

ifARIA'E TNSURAATt.

It is proposed to make an entire change in the law by
which the mode of effecting Marine Insurances is at present
regulated.
The object of this change is said to be, by the destruc-
tion of two existing monopolies, to produce greater compe-
tition in the manner of transacting this species of business.
Such an expectation is vhelly at variance with the prac-
tical state of the rmestion.

The law, as it at present stands, prohibits underwriting
in partnership except in two instances ; the result of which
has been, the ettablishtnent of a public mart for insurance,
where upwards of a thousand underwriters, engaged in
active competition with each other, carry on this branch of
business. This system has bet n a hundred years advanc-
ing to Its present condition, which is acknowledged to be
on of great perfection.
Its results ire:—Extreme facility in minim-dog the bu-
siness of insurance; a lower rate of premiums by one-third
than was ever before known in this or any other country ;
the most ample security to the assured—[the most
extensive insurance broker ever known in Lloyd's,
declared in his evidence before the Committee of the
House of Commons, that the losses by Insolvent un-
derwriters, On sums recovered by him in Lloyd's, did not,
in a long course of years, amount to more than three
pence halfpenny per cent.] ;—and the establishment of a
system of communication with all parts of the world, con-
stituting a great public commercial benefit.
The object of disturbing this state of things, is to per-
mit the formation of companies and partnerships for trans-
acting the business of insurance.
It may reasonably he asked what is to be accomplished
by this ? Will there be greater competition among large
associations than among separate individuals ? Large
Companies are already formed, ready to act, if the law
shall permit tlittn. They compel their shareholders to
insure with them, and there can be no doubt that every
exertion and influence will be used to bring business to
those Companies.
The system of Lloyd's is that of individual compe-
tition. This competition is maintained by the quantity
of business transacted there. New Companies must
I materially reduce the quantity of the business to be done
in Lloyd's ; individual underwriters will gradually retire
from the trade, and the existence of Lloyd's as an estat-
lishment must be wholly endangered.
Hainburgh affords an instance in point at this moment.
Individual underwriting was destroyed there by the esta-
blishment of Insurance Companies. When the Directors
of these Companies found that they bad succeeded so far
as to reduce the number of separate underwriters in the
city of Hamburg!' to only five, they came to an under-
standing with each other to charge the same rate of pre-
mium on all current risks, thus establishing a complete
monopoly as regards the public.
All public Companies are mischievous, which interfere
with business fairly within the scope of private exertion
and capital. One of two consequences must follow from the
establishment of the new Companies for Marine Insurance.
Either they will be successful, and destroy the business of
Lloyd's, together with that excellent system of intelli-
gence established with all parts of the world, or they wiU
be unprofitable and bring losses on the shareholders,
neither of them results to be desired.
If the fact was, that there was more insurance to effect
than there were the means of effecting, there would be
some pretence for the alteration; but it is wholly the
reverse of this. In short, it is impossible to chew the least
necessity for the contemplated change, or the least advan-
tage to be derived from it.

P.IRIS.

LFIOX A CORRESPONDENT.I
PARIS, MAY 22.

Man is an animal that, when well fed and well fattened,
may be governed with a feather. But looking at the con-
dition of France, at this moment, I should say that the
reverse of this maxim will also bold here; but I put but
little trust in appearances. A cloud lours upon the whole
European Continent, and will one day unexpectedly burst
over it. It may be, that to Great Britain the danger
arising from such an event may be only possible, but it is
a danger to be guarded against as much as if it were real ;
for it can only be prevented from becoming real by early
and adequate precaution. No further intelligettcz has
transpired respecting the affair of the fat of May at Lis-
bon ; it is not decidedly known that the French Cabinet are
in possession of the particulars; if they are, they are pru-
dent enough to keep them secret.
The King has not been out for the last week ; he con-
tinues to give audience to his Ministers, and to hear mass
every day in his bed-room; for here piety and politics,
like twin-brothers, go arm-in-ann. His Majesty s devo-
tion is great ; it is exceeded only by his digestion, which is
still more remarkable. His Ministers also are devout, and
should the fashion not change they will continue so ; it is
possible, however, that with any change of events, a con-
trary current may set in, and the outward man will then
take care of himself, lest the inward man should go to
the wall.
An immense crowd flocked last night to the Theatre
Royal de l'Odeon Merope, to be present at the re-appear-
ance of Madlle. Gement:a : after the heinous offence given
to the Parisian public by denominating their expression of
discontei.t a cabal 1:11; en:, she bad tendered her resigna-
den ; hut happily • th accustomed relations of peace and
amity" are restored. She came forward with her sin upon
her head, in the sable w.eds of the widow of CI: eorn•NTe.
A faint undertone of applause was heard, which betoken. d
a reviving, spirit of gallantry ; the Lady gave a courteous
and conciliating inclination of the head, and a few watery
pearls were visible in her eyes, which called forth loud ap-
plause from one party, and vociferous exclamations from the
other. It was difficult fer the patroness virgin of Made-
moiselle to say on which aide the votes would fall. The
house was in great agitation, when lo! an oficor of police,
with his staff of authority, appeared on the stage and eu-
treated silence. This entreaty came as oil upon the waves; it
stilled the storm, and Madlle. Georges, profiting by the inter-
val. addressed herself to the pit—" Messieurs, si 'stria en le
mallieur," &c., which, being interpreted, was to the
tenor and effect following, that is to saw—" Gentlemen, if
I had had the misfortune to have failed intentionally in
that respect which I owe to the public, I should not have
appeared before you this evening. ' Here her voice hveame
tremulous, and her countenance betrayed strong marks of
agitation. Tin E stood neuter for a full half hour, doubt-
ful whether it was to be peace or war: but at the end of
this period of suspense all interruption ceased. The piece
began : and scarcely had Madlle. Georges pronounced the
first couplet, when a unanimous applause resounded from
every part of the house, which was reiterated again and
again during the performance. Certain it is, that, in this
world beneath, we tread by turns on thorns and flowers.
After the curtain fell, Madlle. Georges was 'ldled for, and
received such " assurances of high consideration," as
satisfied her that she was completely reinstated in the pub-
lic favour.

Last week the Duchess of BERRY and Madame visited
the new establishment of artificial iarshathm'
situated in
the Al Ile l'roires. Her R0..al Highness and
hercomely
sister appeared deeply interested, and followed the myste-
rious process through all its details, from the down-lying
of Dame LET, to the first chirp of her chick. flow
delightful t,t perceive the progress of science thus bringing
natural history, as it were, home to our doors, and initiat-
ing all, male and female, into the arcana of iticubatin !,
As the love of knowledge advances, we shall in time send
the youth of both sexes to a brooding-school, instead of a
boarding-school. The
.fi,ree t.erassahte of the system of
education in these new seminaries *lust succeed to a mi-
racle. _

The deeply-deplored death of Loan BYRON occupies the 11
public mind in -Paris at present, to the exclusion of all
other subjects. At the coffee-houses, at the theatres, it is
the sole topic of conversation ; it has thrown :I gloom over
all circles, public and private. The Greeks are felt to have
lost their most heroic champion ; he died while striving to
rend their chains asunder. lie bad surrendered all the
allurements of affluence and repose, to assist in rescuing
that classic race from the usurpation of vice and barbarism.
The loss of his aid in this honourable contest is great in-
deed. Who again will strike the harp to Freedom as he
has done? I tear, not one.

IVe understand Hail MOrton is to resign the Lieutenant-