The Statesman.
London, England, 1810-02-15 00:00:00

Istmn secured blebs stations of indiehluoi under..
writers. All wield have been teat to:the country.
if there had existed as other means of effecting in-
surance, bat is the pebliic offices. The House
woeld,:therafore, be able to form so opinion of
the**. of insurance by individual underwriters,
io the -new, end perplexed, and perilous situation
to which contmeree had been reduced. The Hon.
Gristly/nut had also stated, that in consequence of
the %imited panther of public insurance offices, such
offices had hewn established in the United States of
Anie.riut, and the West and East Indies. This was
ittiliNcomblY Migfettrj jo the East Indies, to co.
vet what were eekledthepountry voyages, and to
4T04 (be delay of oevly two leers, that most
elaose before recovery in case of less, if ,the in.
euran.ce were out ethcted on the spot. The same
was the clue in the West ludics; and. when Arne_
vice had.pessessed herself of so large a portion of
the whets trade of Europe, it bedante tiezessery
fur her also to establish Ipsurauce Companies at
Luton. It was not frum the dissatisfaction of tho
onerchaots at the conduct of the Underwriters, but
from tlys measures of the (government, right or
wrong, which pryhihited payment for enemy's
property, or property sespectiel as enemy's pro.
petty. *ad brought in fur adjudication, that tits
*moot of. it euraaces had nut been carried. to a
4reater length. The Honourable Gentleman had
stetted, ip support of a new Company, that its ca-
pita!, yes to he fine 'millions. That he did not
quetion, but he would undertake to find fifty
persons at Lloyd's, who weal(' produce to that
amount in one week, without saying pay thing of
the remaining 1450 Underwriters. Three cases
bpd occurred, and been met at Lloyd's, which au
public Cunipany could have stood against. The
first was, lbot when; in the contemplation of hos.
Links, all thatch vessels, towards the elpse of the
...inericlui war, heel been ordered to be detained.
Theso vessels bad been afterwards condemned,
spa the whole paid at Lluytt'e. Tho two other
ease* were, the Ottletitso and condemnation of
American vessels in the ports of Frauee and gpaiii,.
im 1707.; ,aistl .the condemnation of the British
snarehant vessels in the pens of Russia, in 1799,
by orJcr of the Emperer ; and in both the whole
!wises he 4 been ; aid at Lloyd's. These blows,
which weep bring down the trunk of any public
calmed:, bad nut. tore a single leaf from the eetahlish.
nixet at Lloye..'s. To show the irrelevency of the
elialiii*: of the ',lndio, Deck Company, he had
only to observe, that in the Louden Dock Act,
there ifts. a „Clamp ,for securing COMpeObaiioO to
those who
.ntight suffe,r by its ever:dine, bet eo
eiich eliese Wes to be jeweled in the Act preyed
for in site redraws touter coesideretien, though its
eddied wpteld)roruitteos to venny meritorious it
derwriterst "e
rgkt it rather unseemly for
•Geuthrostis,.nhe 4 acquired their fortunes by
believe :0u ceertterie now to wish to &wive ethers
of setae" by which they bail themselves risen
sesibiernee. As the la* stood et protest, no two
Poulllfillt,Fotdd smite• or combine capital for • the
prirposen of insurance; and yet these Geritleinen
iMitllobe enabled to do .bat iu their collectirn
.14ey could trot lawfully du in their private
thie.y. Malty were ;he authorities against :no.
Dr. Adam Smith called them empbati.
*owns ; that Haase had denominated'
those It violation of the rights mid privilegss of the
rople; and Lord Hult had held, that no partiou.
lee Oisileges should be 'canted to any set of men,
?One funAled raison urgent necessity and exideat
utility. TO present proposition would produce
greet private and tuti‘h publicissjary. It was not
lie balention to oppose the Motion fur going into
a Coinvaittc,e,g it eras to be open; but if elm Ilea..
Pe...lsthmus" should persist iu pressing fur a Select,
IClaissiti,s, be shipold certainly feel it bis duly ttro,,
divide the House spun the qisecion.
Air. A. BAKING thought, that the arguments
urged by the 4ou. (jest. who had just satikewit,.
agaiejt monopolies, strongly applied against the
metiers complained of iii the Petitiou. Whet his
Non. friend had stated that thrtmataurths of the
wercantile body io London were in favour of the
Petition, it was his opioion that be might, with
eeseil.tredi, I.afe asserted, that 90 out ,if every
bluidred of that body were friends to it. lle *new
of no house in the tity that was not strongly in.
terested io the uccompliAmesit of the object of the
Petitiouers. The only eeestion, then, before the
House was, whether the j'etitiums should be refer.
e.-. 4 to a Select or to an Open (;,,mmittee. For,
his own Orrs ho was inclined to ti.;.: Select Com.
mince. The whole course of precedents in Ike
pro' coadings of that Heusi:lay that way. He was
regally disputed to approve. of the mode in which,
it was proposed to compose the Committee, be..
cause 'every disposition bat; been nionifested in the
selection of the Slembees to provide with Curiae:,
fur the interests of all the parties concertittl. The
case of the Globe Insuretice. Company would nut
apply, because that Cyaipany extendoil. its Lists.
raves Lb fire and Imo. Thu Petition before . the
House coinelaiued Ibex the two chartered Cumnpa.
Melt is eziatetiere were fang able jo afford the neces.
airy facility for effecting Marine Insurance., and
therefore prayed. &at- Thriller mean; slienl.l tie'
provided, In any way which to the wisdom of the
House might seem meet. If Parliament were of
opinion, that this could be beg effected by incur-
yokated Companies, as at the passing of the Act
of George the First,- then he would be disposed
to say, that this Ncw Company should be ulcer-
librated ; nut fur the purpose of giving any opit
ai•in on the propriety or policy of such exclusive
institutions, but with etviow to extend the meant
of yffectiag marine insurances. His own opinipe
Wes decidedly, that ate better mode would be So
three the business open generally. If, how-
ever, it should be thought expedient to et-
'tabled* another Company, ha conceived' dint
it should be contied altogether co. marine .14.
turandes. As the other Companies extended
ikeie iionrauct.:s to fire and fur lives, they must Ite
.. easterially prevented from atteuiliiig sufficiently
rate marine insuram: i tyauch. By the cxisting
ws a few Tieried for the purpose of giving an
segatiseme metope)), to the two chartered Comps.
tries, in two !new could. join their capital for the
iiirpose of insurance ; but `the vat eccumwition
;of (fade rendvred it Impossible for these Comps,
hies to meet the tu. li extent 'of *the exigency. lie