The Sun.
London, England, 1870-06-30 00:00:00

THE SUN, LONDON, THURSDAY MORNING, JUNE 30, 187 u.

NEW YORK LIFE INSURANCE COMPANY.
Founded 1843. Life only (purely Mutual).
Cash assets .. £2,665,000
Annual income ... £1,200,000
NEW YORK INSURANCE LAWS.

The Insurance Laws of the State of New York are very strict.
By them this Company is required to submit to a rigid super-
vision and examination of all its affairs, and to make sworn
statements ANNUALLY to the Superintendent of the Insurance
Department, of its Assets, Liabilities, Income, and Disburse-
ments, in complete detail ; also to undergo a personal examina-
tion by the Insurance Superintendent as a verification. Thus
every possibleisafeguard isthrown around the affairs of the Com-
pany, and offering a guarantee as to security and solvency not
given by the Insurance Companies of any other country.
A proof of the care in the management of American Companies
is, that there has not been one single instance of the failure of
an American Life Insurance Company that has confined itself
to Life Insurance exclusively, as is required by the laws of New
York, NO COMPANY BEING ALLOWED THEREBY TO COMBINE LIFE
WITH EITHER FIRE OR MARINE INSURANCE.

MORNING EDITION.

secondary position; its representative has too long been
condemned to speak without authority. Nothing can
be easier than to remedy the evil. If Earl GRAN
VILLE goes to the Foreign Office, and the Earl of
KIMBERLEY succeeds Earl GRANVILLE, the office of
Privy Seal, now held by the Earl of KIMBERLEY-
may be left to the antiquaries, and a Ministry of
Education supply its place.

WHAT may not inaptly be called an additional
illustration of the triumph of free trade is to be
found in the expeditions of British and American
Insurance Companies for the purpose of doing
business on the opposite, sides of the Atlantic..
English offices have established branches
in New York ; to return the compliment
the New York Life Insurance Company bas
undertaken operations in London. This is well.
Competition is always advantageous to the public,
and it is not advisable that the contesting parties
should be confined to the members of but one nation,
that the sellers and the buyers should be all'of the
same family. Moreover, the American insurance
offices have special advantages to recommend them to
English investors. They are exceedingly well
managed. The New York State Legislature has in
this respect completely put to shame its English
contemporary; it has enacted every reasonable safe-
guard for the protection of the insurer. The IN ew
York companies are subjected to close inspection;
every,year they must render a sworn statement of
their affairs ; nor is this taken on trust, but verified
by the personal examination of the insurance super-
intendent. Another stipulation is that policies are
payable only to the wife or children in whose interests
they are taken out ; in case the insurer dies insol-
vent, the widow and the orphan cannot be deprived
of their provision by the creditor. The laws of New
York State will not permit a life office to combine
marine and fire insurance with its chief business,
and it is noticeable that no establishment has
failed in any part of America where this
condition has been applied. There is yet another
important consideration. The American offices can
invest their savings on very advantageous terms.
The demand for capital is so great in the United
States, and the development of wealth from
the constant occupation of fresh tracts of
land is so rapid, that the interest which
satisfies investors here is contemptuously rejected
in America. Such advantages as these can-
not fail to have due weight with English insurers.
To buy in the cheapest market and sell in the dearest
is the principle of free trade, and it applies to insu-
rance quite as much as to any other branch of business.
This healthy competition will do good in every way ;
it will offer the English insurer an investment
well worthy of his consideration, it must stimulate
the English offices to make that improvement in their
management for which there is so much scope, and
perhaps Parliament may at last be brought to see
how well certain regulations work amongst a kindred
people, with a business temperament similar to our
own.

TOPICS OF THE DAY.

THE THUNDERER AND THE BILL.

The course which the Times has adopted with
respect to the Land Bill is worthy of note. On Mon-
day it was so angry with the serious amendments
made by-the Peers in the preceding week that it
gravely discussed the question whether the House of
Lords ought to exist in its present form any longer.
The nation cannot,it said in effect, allow the Peers to
override its decisions ; it is not worth while for the
Peers to remain the mere registrars of the business
done in the Lower House; therefore the interests
and dignity of all parties might be advantageously
consulted by some change. Alarmed apparently at
this astonishing declaration, the Times on Tuesday
treated with much leniency the very grave amend-
mends made in the Lords on Monday. On Wednes-
day it took heart again, and once more was down
upon the Upper House, albeit the alterations made
on the preceding evening hadnot been of no great mo-
ment—not fewer than sixty one clauses having been
passed at a sitting. It told the Peers that their
amendments would neyer be accepted. In fact
they had better revise them at once. "The
interval before the report is considered
may be profitably spent in inquiring whether
some of the alterations made in the Land Bill since
Thursday have not been made in a wantonness of irre-
sponsibility that must be abandoned." These
vacillations are characteristic of the leading journal
but the style in which they have been made shews
that apprehension is not wanting of serious difficulty
about the amendments. It may be taken for granted
that the Government cannot accept them.

the police by the populace than to the disputes be-
tween masters and workmen. There have been
more policemen shot in the southern city than in any
other in Ireland, the reason for this probably being
that the constabularywere unusually vigilant in that

place in the feverish seasons when the Habeas Corpus
Act was suspended. Cork being the landing point from
America it has been made since 1866 the chief
resting place of the members of the Fenian Bro-
therhood arriving from that country. Owing
to the work they have carried on in
Cork city, the police force has several times
had to be augmented, and each Fenian capture

—and there have been many—tends to 'make the

popular hostility to the constables more serious and
revengeful. Much confirmation is given to this
view from the fact that more policemen have been
injured in the late disturbances than any other persons.
Some have been perfectly disabled, others have had
limbs broken, while others have been injured on the
head, their shakos being literally cut through by
bludgeons in many instances. The angry feeling of
the mob, first levelled against the masters of the

trades, afterwards vented itself against the police
who attempted to interfere, and when against them
it obtained greater sway. Finally, the antagonism
extended to every known native of " perfidious Albion"
who was known to have a shop in the city. The
sharp fire of heavy stones and the brunt of the
savagery has been chiefly, however, levelled at the
members of the constabulary. Remembering the
repeated denunciations of the force by a former
Mayor tof Cork, one could hardly expect that
it would be otherwise when a struggle
should take place. Happily, the riots are
now said to be over, and the real source of the dis-
cord and fighting will probably be fully known. If

the trades on strike disavow the worst share of the
business, it will be the duty of the Executive to
further increase the number of the police in Cork,
and to punish every disaffected renegade in the
severest manner. If there is sedition and hatred of
law and order allowed to exist in a city, it is hard
for it to prosper or to be at peace.
ORPHANAGE.

entitled to praise alone for the action they have
taken. He does not, however, omit to mention that
the gross accusation against a body of intelligent
and respectable men, in the midst of a calamity so
heartrending and deplorable, is, under the circum-
stances which have now been revealed, anything
but creditable to the author of it.