The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-07-15
Fsr,i Ign L,fe Assurance Companies.

the stability OF the foreign life assurance COM
panies which have agencies in New York and
other American cities. None of these commune
cations, however, have induced us to alter our
opinions on the subject, given in the article re-
ierred to, nor convinced us that what we then
stated, viz; that these foreign assurance CON-
panies are not entitled to confidence, and cannot
be considered stable or permanent in the present
state OF Europe, and amidst the revolutions which
are now shaking that part of the world-was erro-
neous.
The conclusion which we then arrived at, and
which is firmly fixed on our mind yet is, as we
then stated, that as long as the existing order of
things remains in England, those companies
will be deserving of confidence We acknow-
ledge that they are prudently managed, and
that all losses are punctually and expedtiously
paid to the parties interested 1t is the part of those
companies to act in this manner for let them fail
In fulfilling their contracts, and they fall imme-
diately. We do, however, persist in maintaining
the position which we have assumed-that the
moment when the present regime is upset or over
thrown IN England, that moment will witness the
complete and final downfall of the whole fabric of
credit In England-a gigantic house of cards, with
out foundaton--and the consequence will be, COM
plete and utter bankruptcy Of the government, the
mercantile community, and the people, of that
country. Surely 1t needs no argument to prove
TINS position. Any one acquainted with the rela
lions OF England, can see 1t at mOment-and
seeing It, II cannot be questioned that these
foreign insurance companies whose capital con-
slsts, In the main, Of stocks of that govern
ment, or OF other European governments, which
are lnt1nsicaly OF earthly value, will be
involved In the common ruin, and be utterly and
completely irresponsible. Every monarchical GO
vernment In Europe is upheld, and has been for
years and ages maintained, by the sword. The
revolution In France upset the government of Louis
Philippe, which was kept up in the same way On
the downfall of Louis Philippe, parties owning the
stock were nearly ruined and were it not for the
magnanlmlty of the French people in adopting the
national debt, the stock of that government would
not be worth farthing Such happy thing, how
ever would not succeed the downfall of the English
government. France can, and in course of time
will, pay her debt; but the English people never
could, If they were willing to, pay the debt of their
government. The payment of the interest alone,
Is serious grievance, land the which are levied
Tor the purpose, are extremely onerous and keep the
people In continual state of poverty. Would they
burden themselves with such a load, after achiev-
ing victory over the government, and establish
ing cheap and simple form of government in lieu
of the extravagant, exactng and numbering politi-
cal machine which now exists?
Under this view of the matter, then-which we
apprehend is correct one-American citizens and
others who insure their lives in these or any other
foreign insurance companies, can have no conf
dence In their ultimate stability, nor in their capa
bility to fulfil the contracts which they enter into
with the parties assured. A man may insure his
life for five thousand dollars. He may pay two or
three hundred dollars annually the company with
whom he contracts for five years ten years, until
actually his aggregate payments exceed the sum to
which his family will be entitled to at his DEATH
After having done this, 10, revolution breaks
ont-a union, for instance, between the four or
five millions of Chartists and the seven or eight mill
lions of Repeaers in Ireland is effected; precon-
certed blow is struck simultaneously in all parts of
England and Ireland; the military are overcome;
the government falls; universal bankruptcy fol.
lows; a order of things is entered upon-and
what becomes of the capital of these companlesl
There would not be vestige of anything valuable
to be found the whole fabric of credit would be
crushed-be dIssipated-and with it that of the
aristocracy, the merchants, traders, corporations
Of every kind, and all orders of society.
Now this is precisely the state of the case
England and Its government may be stable to-day
but will II be tomorrow! Will 1t be 20 next year,
or for the next five years7 In one single hour
Lohis Philippe, the King of the French, was va
grant, seeking an asylum on some friendly shore,
in disguise. A week, and the present age of the
world is prolific of changes centuries were
in past times. This is perfectly well understood
by the far-seeing capitalists of Europe. The Ba-
rings and other European capitalists, invest their
funds here, for the reason that such changes
can occur here. Our government is the most sta
BILE on the face of the earth, and will outve all
others, except 1t be that of Frances and hence they
take our government loans in preference to those
OF any other government. And are our citizens
TO adopt contrary policy? Are they to be so silly
as to invest their money, with the liability at any
time to lose it, and with the absolute certainty
staring them in the face of losing it some time or
other be it near or distant England's hour
may not have yet come; but 1t is not long way
off Her fall, however, is inevitable, and when 1t
does take place, 1t will be accompanied by the con-
sequences we have mentioned.
The Pooh SoIDHR.-We have had some splen.
did celebrations on account of the victories obtain
ed in Mexico. Orations have been pronounced
over the heroic deeds of our troops. Many OF our
generals have been feted from the beginning of tn
week to the end of it. Now, different class of
those heroes is returning-the rank and file, who
did the work and how are they treated on their
return home
A detachment of the New York volunteers has
returned, and has been received with some degree
OF respect. Prayers have been pronounced over
the ashes of their fallen comrades but the living
remains of that patriotic band, are now encamped
on little field near Fort Hamilton, and present an
aspect that ought to make the heart bleed and the
tears flow Where is the active benevolence OF
this cityl few days ago. all the theatres contrl-