The Sun.
London, England, 1856-05-22 00:00:00

FIRE INSURANCE.

Although the various clauses of the new Fire Insuracc:
Bill were agreed, to in committee on Monday evening, '3°
a word transpired' p alter the view already forraed
the public on ilie.Character of the measure. Tat, Chee;
cellor of thetichequer himself admitted that be do'
not attach any particular value to the clause declaricl
all persons liable to duty who may effect insurances ?if
foreign companies, since there is a total absence of 18
means to enforce it, while, as regards the injurious osttio
in a commercial country of a tax that discourages heti!'
of prudence, there was apparently no difference of el)'.
mon. Several member. intimated a conviction that,
defiance of .the bill, English fire insurance policiee
be larlor
gely opened on the continent, but the Chanct3",,
of the Exchequer thinks that if the statute-book decltr;
people liable he will be entitled to denounce all•
homest who fail voluntr.rily to attend with the red
contribution. In this way the risk is of bringing itr:r
classes into disrepute. A tax is contrived to temPt
sion, not only by its' aimiunt, but by the isipractica
to
lity of collecting it, an:l than it is thought expedient
datua4e further the self-respect of those who have 5o
thus influenced, and to render them still le-s sensitivebi,
other matters. Enough has already been done 41
4t.
way by the income tax, although in that case some,lnui
gable means of collection are available, and it is Pale I
to see the system extended. Indeed the GovereinL,e,lit
seemed to be aware of the inherent weakness of t`le
position, and to prefer returning to the old plea that 're,
present moment is not one for the surrender of e' of
venue of 1,300,000/. It is not, however, a question of
surrender, but whether, by the present sacrifice re.
a portion, they shall make certain the dr
tentiou of the remainder, and lay the fl ,11,18,
tion of an ultimate recovery of the l'e-bot
It was stated by one member last night wog
insurances to a very large amount are being
effected abroad. The duty on these will probably
entirely lost to the country, and all that will be 1,,e 50
the Chancellor in such instances will be to stigraat'lng,
many of his countrymen as dishonourable Fol"bill
There is one method also by which the action of the 1100
will be avoided, and with regard to which. the Choc: it
will not be entitled to utter a single complaint of of
preach—namely, by effecting insurances for a ter, lie
years in a continental office by a single payment be o%
the bill has received the Royal assent and become :'d
The following letter, received several days backs
an illustration of the extent to which this is likely to
adopted :
al 001
" Sir,—l trust the Chancellor of the Exchequer will
persevere in his attempt to continue the duty now cha`v„tbo•
in respect to fire insurance. Should he do so, an e-tai'
Heed to say that au enormous amount of fire insurance h

ness will be lost to this country.
" There are many ways by which the Chancellor's 000
now before Parliament, may be evaded, should it bee of
law, but au immense amount of business will bo cbv"„
before the Chancellor can pass his bill.
" I am a large insurer, and pay annually to one „ore
alone (the Kent Fire-uffiee) more than 3 01. for duty 71,116
policies ; on the day following the third reading ° „for
Chancellor's bill, in the Commons, I shall effect poliele°l
10 years in a t'aris office on the same terms as I sin i„TICIY4
in the Kent-office, and shall by this transaction saveaft
I shall be allowed for the 10 years' insurance a di
oo
be
equal to near 71. per centum per annum on the money td so
paid diwn, which will be a further source of profit, 3n
doubt hundreds of other persons will do the same thing'
" I am, Sir, ytirs, &c., tO.
" KNOWLES IC°'
" Maidstone, May 13."