The North-Carolina standard., 1846-03-25

management Of its affairs and the elections OF IFS
officers, one vote being allowed for every $le0
worth Of properly insured.
! The mode of insurance is by premium notes.
The amour: to be paid al the time of insuring Is
very small; and we may obligate ourselves 10
make good the losses which a member may sus-
tain, (if the amount paid in should be sufficient }
by upon the bonds Take, for example, (and
this is practical illustration the case of dwell,
ing house, not exposed by other buildings, valued
at s g. 600. This house may be insured in The
Mutual Company for 1000, by paying $50, and
giving bond for S 400. This sum and bond will
linsure for fue gears, and al the expiration OF the
term of insurance the bond will be given up 10 the
maker. Now, we admit that this bond is liable 10
be taxed once year for five years, to pay the
| losses which the Company may sustain and the
amount OF the tax for five years, added TO the hVe
per cent. faid at the time of insuring, will make
the amount of insurance. Supposing this tax should
amount TO five per cent year, (anG looking over
the reports of Mutual Companies we find that
than the general average) then for the FIVE years
the cost OF insurlng the $ 4 600 would be SlOO:
whereas TO insure the same amount of property in
Stock Company would cost 5 40 year, or 5 2OO
for five years.
One OF my neighbors pays go year for insur-
ing 600 worth Of property, being his storehouse
and stock of goods; and am certain that by the
Mutual plan he can be insured for one-thrd OF the
money nay even less still than one-third. Because
see by reference TO the statistics of Northern
Mutual Company, now before me, that the whole
amount taxed during eight gears amounted TO on
ly 81 per cent Add therefore, 81 per cent 10 the
500 paid in, lin The illustration above which will be
s 26; and you make S 46 paid for Insuring $ 1000
for five wears, which is surely cheap as any one
could well desire the insurance to be, his indemnify
being at the time both safe and certain. We
have never heard ofthe faiInre ofa mutual Company
-and in our State, (when the risks will be dlffus
ed over every part of it, scattered abroad far and
near instead of being concentrated in large clties
towns villages, and thence liable TO swt ePing de-
l.
rance, therefore, proporIionably cheap-whle the
Company gains solid strength and ability by every
accession to its members.
But what?" says one of my neighbors-"peo-I |
pie III the country insure their dwellings, and their
barns? never heard of such a thIngG' Softly, |
my dear sir-you much exposed to the ca
lamity of fire any one in the Woodland you are
more helpless than people in towns and cities-at
The first alarm, they may have hundreds aid
them, with facilities of which you know nothing
But let the fire once get beyond The reach of your
own fimlly, and the is hopeless; you may then
look on in perfect Impotency and see your build
ing burn down your family houseess, your crop
as il fre999enGX G is MIIh
The first dollar is 10 come from to lay the corner
stone Of a new dwelling. Consider now IN time
and provide against so lamentable calamity, for
oy the exercise of little prudence and economy
iou may lay by enough 10 insure your dwelling
md then in of loss you have some funds with
which TO begin a new one. ,
We commend this slight explanation of a no. .
lie enterprise TO the candid Judgment and good !
sense OF the community, certain that il is well de- |
erving of their confidence and support. |
FRANKLIN. d