The enquirer. [volume] (Richmond, Va.) 1804-1815, 1808-01-14

1 =
- ems should become members vi thc ASSOCIATE.
ON, ~
Already have several hundreds OF citizens been
saved, perhaps from total rain and several thau
sands OF others, have been ensured, many OF
them, for twelve years, at q rate of premium
less by one half than would have been demanded
by any other insurance company.
II Is true, that the heavy losses sustained have
compelled tho requistion of additional quotas
nc lose at norfolk OF more than made it
necessary to require an additional premium, to
restore the stock which must be preserved on
hand, that sufferers may be promptly paid This
requsition produced some discomfort R,t the
institution was rapidly recovering from that hea
Wy misfortune, and IT'S friends wer. daily increas
ing, when the unfortunate fire nj FredeIicksburp
wh.cn iaid IN ashes the richest part of that -four
ishng town, produced another considerable loss.
ana excited alarms which, though thew must
quickly subsde on reflection, have nevertheless
revived old doubts and apprehensions, and sun.
pied the friends of foreign institution Of this de-
scription, with plausible arguments against this
most humane and excellent scheme Of general
| mutual assurance amongst ourselves at home.
l. AT TINS critical anon,ent, my fellow.citizens.
nave 1 undertaken the principal agency of the
MUTUAL Assurance Society Of Virginia
l.. az ui's moment too, there can be no doubt that
lne agents OF that foreign insurance company.
are most aiiigentiy tomenting discontents and
1StrenstheninS suspicious of the persanencv and
responsibility of our most excellent institution
! IL reiied on my own talents to counterfeit heir
plans and reproduce general confidence in the
v rS"'ah Assurance Society, their victory would
DC easy and their final success certain R,,t re
| iy rot on these; vet trust this safe and cbco,
Scheme OF general Insurance, will not be abandon
lSu-that 1t will rear its head with identified con-
seriousness of its own merits and in doing so. |
III these merits, i'll the aid of an intelligent,
| Doaro Oh directors, and of those we'll informed &
l'espectabe citizens throughout the state who
perfectly understand its principe, and will
Iuouo'iess use every means in their power to
w.. Srouhdiess alarms to convince the doubtful
ana 10 remove suspicion from every bosom.
l. ileei 1t to be duty, however, to endeavor in
uase suited to every capacity, to shew in this
ana succeeding essays, the certain security ofthe
l'Sureu' uie comparative cheapness of the rate of
insurance III the Mutual Assurance Socictv md
the great advantages which result from effect of
rahce IN our own state, rather THAI, in Great
~ @ snali also, as tar as can, anticipate
a'u answer objections to the institution
Although with other citizens of The state nm.
uouDteaiy interested in the prosperity of this va
iuapie institution; like too many of them have
seldom turned my attention to the probabilities in
Iavor or against it of course, / shall be compell
ed, IN some ofmy calculations TO dener,d or r.
sumption instead of facts, which is the case 90 n
that which am now about to offer
hcccordlng to the best estimate which
nave been able to make, the low
9 pir value OF buildings i'll the city of
n
The towns of Norfolk and Alexandra.
each contain more, but say 5000 600
And suppose all the buildings in other
towns amount to $500, 900
ne buildings IN the towns then, at1 q n ooo oco
| avery moderate estimate are worth . S,ooO,oou
-Four ftths of this sum equal to q ? ON o0o
Deing insured at an averaged rate of nrem;,Irn nf
'hree per ccntuIn, would produce an amount of
premiums on hand, equal to 6 2I6,Co1--tbe an
huai interest on which will amount at six oer CEN
tu!i' TO . i2,9oo-Which sum, if it had been
| Pald annually from the commencement of the in.
sututon. would of itself nearly have maid H.
whoie losses both i'll the towns and co,ntr,, g.,
| uie commencement of the institution non;tI
s."huins tee immense and unprecedented de
| suucuon OF houses by fire since the wear 17o6
win respect to the insurance on houses in tb
country uisre can be no doubt that the number of
cu'iaiiieS IN the country is much larger. perhane
!our unes as many AS there are in the towns br,t
ulGy DC no greater in value, the losses being
ion Sii'aiief IN amount, may always be dischars
ca Win smaller sum, than the annual intar.S+
Vi uie premiums pad; - that the fund being
once created, it will be morally Impossible tLat
future quota should be demanded That such .
idnd may with certainty be acquired. sdrits 60
aoubt Ii the Intelligent and respectable part of
the community shall aid the excrt;ons ofi a. !:
rectors and the principal agent
Inc neglect of insurance can never h. tho or
'ect OF calculation, but of thouglltess loshn.ss
i
and contempt of the ris1-This indiscreet d;sre'
gard OF the risk, may be expected from voun,,
man without family, whose sanguine homes %
thouShtieSs raShness, generally places dancer at
distance or setS 1T at defiance But il ia asion;h
ing IN the husband or the father, who must be nra
sumed to DC anxious not only to ACQUIRE. but tn
preserve his property N' "
IL is indeed wonderful, that a ehean and ..c,
means OF insurance sh ould have existed in The
state during twelve years, and that at this ron.
ment, there IS scarce ly one house in twenty ,b;b
is insured Nov il it less surprising. that nearIu
al OF the very great losses by fire. which have o,
CURED IN those twelve years, have bsen MIA e.
by premiums not exceeding an averar. of foe
per centum on the twentieth part of the buiId;nas
IN the state. The enquiry must irnmedatelv prs
sent ltseif.--What would have been the s;fxy.fion
OF tins society, had the influential part of the com
munity heartily co-operated with the directors and
chlcf agent to have produced in the co,nmenc.
ment, general insurance
But, my fsllow-citizens, il is not vet too late
we nave seen how much has been done bv an ex,
pertinent upon small scale, and thence we n, -
infer, what beneficial effects would flow from =
general determination to encourage and smnnnrt
the institution. PP0''
Many are the establishments of VIRGINS, ,yb;cb
tend TO the happiness Of the individuals. and 70 be
honor us a state. Nor will this society ;,r,,roI
ed to that extent which it is CT die of he aIonra,
l.4aat sofiI a,I