The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-07-20
Tho United States Bonded Warehouse
Lhe Security Against Fire.

Tho United States Bonded Warehouse
Lhe Security Against Fire.
The city Of New York is the grand vile
d'sntrep6t of this Western world-a city of
merchants and of merchandise. The most i'm
portant Of its mercantile institutions is the
United States Bonded Warehouse, for the facili-
ration Of mercantile transactions. On the 4th OF
August next, the institution will lave been In
operation one year; prior to which NINE 1t was
an untred experiment in the United States, al
though it has been established in England ever
since the year 1903, where it has not only been
triumphantly successful, but where it is regard
ed Z" as the greatest improvement that has ever
been made in their commercial and financial
system"
In 1888, seventy years prior to its establish
ment in England, Sir Robert Walpole, then
Premier-and if not the ablest of England's
premiers, he may be said to have been, historic
cally, the first of that peculiar line of rulers
made desperate effort to give England the
benefit Of the warehousing system. But
his warehouse system, (WHICH" he said, "tciH
tend to make London a free port, and by conse-
qusnce, the market Of the ,vorld," was unfortu-
nately introduced into Parliament in connexion
with his famous "excise scheme" or tobacco
projet, which seems to have suggested to that
great fnancier the idea of warehouse system,
aud was 30 COMPOUNDED with that excise scheme,
to share all the prejudices of the people against
excise, and, Therefore, fell through. Seventy
years later, however, under the "Addington
ministry" Walpole's system was carried out,
and England and the world have since been en-
]oying It's advantages.
We may well marvel at the hardness with
which England profted by "ths obvious and
signal Improvement" as McCulloch calls it; but
what shall we say of that succeeding halt CEN
fury (from 1903 to 1856 of hardness, during
which we Americans looked upon this " obvious
and signal improvement" and still refused to
adoptitl Wellm might we reproach ourselves with
our dullness and stupidity, traits Of character
not SO exclusively the property Of the Dutch but
that the Anglo-Saxon race may claim a share.
But better course now will be to 60 in at once,
withheartand hand, for the full advantages of the
warehouseing system.
Although it is more than century since Sir
Robert Walpole conceived the magnificent idea
of making London " free port" it is not too
late for us to make New York what Walpole
would have made London. An immense ware
house has already been completed on Broadway,
extending to New street, and is now filled with
merchandise, from cockloft to basement Other
and extensive warehouses are constructed and
nearly completed at the Atlantic Dock, Brooklyn,
Tor the storage of heavy kinds of merchandise, as
sugar, molasses, rum, &C., which have hitherto
been warehoused in stores hired temporarily for
that purpose in different parts of the city.
The only drawback that has hitherto arisen
IN the operation of the system in this city, has
been in the rate of insurance exacted upon ware
housed goods Although the bonded warehouse
on Broadway has several division walls, yet the
communicating openings in these walls are
such as to render the building equivalent to one
large warehouse. That being the case, fire in
suIance companies are necessarily limited in
the amount of risk taken to some five or ten
thousand dollars The consequence Is, that
there are not insurance companies enough to
effect insurance upon all the merchandise ware
housed, and so they quietly have taken advan-
tage Of the fact to charge monopoly rates; and
we suppose they might well have charged
two per cent, or two and half, as the one
and half that they do cha ge. Under
these circumstances, our efficient Collector
has taken the matter in hand with a view
TO render the bonded warehouse a safe
building for the storage of merchandise tcih-
Out any insuraucs at .aH. And we think, from
a careful examination of the hydraulic appara-
rus Just completed there, that the day is not far
distant when importers will have confidence to
snap their fingers in the face of all insurance
companies, and warehouse their merchandise
without any insurance, or at least, instead of
having monopoly rates dictated to them by the
companies, importers will dictate their own rates
10 them, and from being Dictates become die
fators.
The Collector has, in fact, at one stroke, ef-
fected one grand hydraulic insurance upon all the
merchandise in the warehouse He mas caused
the Croton water to be introduced in large pipe
upon every floor of the building, with an attach.
ment of hose upon every floor, Of sufficient length
10 reach every corner of the warehouse. This nv.
draulic apparatus is of the most perfect kind,
and has been constructed under the immediate
direction and supervision of Cornelius " An
derson, Esq, chief fthe fire department of New
YORK, gentleman whose Judgment and skill,
from many years of experience, will neither be
uouo'ed nor disputed in this city. On Saturday
ias'' according TO public notice, the water was
let ih'o the attachments, and the apparatus fully,
sno we are bound to say triumphanty, tested.
Inc experiment showed that one minute was
ann ~ sumcient to transfer both hose and water
10 any part Oh the building. To perfect
the insurance, Mr.. Lawrence has secnrsd
inc sei'ioes oi -FOUR the most expert
enced ana cmcient watchmen to be found in
the city. They have also been 6remen. and
are men Of character, in whom confidence NAV
be placed. Two Of these night watchmen will
he on guard every night, and the warehouse is
20 constructed that light or fire in any one part
vihe building, would, and must, be instantly per.