Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1858-04-06
STATE INSURANCE.

Tba .south.Side Democrat" has mistaken tut
meaning which We intended to convey IN preViou
.rc,a m this subject. II was not our Intention u
,sssr, that policy Of insurance Issued by an ind'
,idual would constitute an illegal contract. Wha
wa did mean is specifically set forth In subsequent
.r,c,s vis:-that the incorporation OF insurance
o,onan.. b.. placed this business out of the reach
# individual competition; and, moreover that 'ndivl
du.s cannot be sosbed to compete without serious
in;ury to public welfare and private interest. IL Inc
language Of our frst article swss so general a. 10 OF
inaccurate In its eIpressiens, t6s 10 simply our ms
fortune, and ons which We regret the less since IL
ssems to furnish our contemporary With apieauraoie
triumph of discernment
We are pursuing the consideration OF IN important
question, dispaesionately-w no other view than
10 arrive at the truth. If we shall commit an error OIL
fsot or Of law of language or of Judgment we are anI
ion, 10 correct the soon as it shall De discoV
cred by perceptions more accurate than our own II
This Ia the maner in which the "Democrat proposes
to obliee us 10 "bsck down." Ue can only Suggest
that an acknowledgment Of Involuntary mistake can
be more aptly described than BY the employment OF
q tsrm borrowed from BoIiana Nor are We prspar-
sd 10 acknowledge the Justice OF the ironioai rehec'
ton which describes previous article as "man''
testo."
However. the article Of the Democrat" ID moi
cooipsd 10 ,hese suinadvsrsions on the "Enquirer
We hasten 10 more important matters. We were moi
aware that the underwriters at Lloyds monopolised
AZ m,ch a, one half OF the commercial insurance Of
the world We presume, however. that the demo
orst" makes the statement on good authority We
have nurrosely abs,sined from the consideration OF
or;n imam moi
only because It is not comprehended in the schene Oh
Stale insurance proposed to the General Assembly
but also because not sufficiently intimate win
the advantages and disadvantages, the uses and
abuses of that most ntrioste incident OF Commercial
transaction. IF the democrat will enlighten Ut
on the dstais az 49,. 1-~--- Of tho e"oJect VI III
rucanoe, we will endeavor to draw from it such To-
LEGATIONS as may be serviceabe to the question i'm
medatsly before us.
We do not wish. however, TO write general trea-
zee on insurance. We need materials, except
.uch a. can be applied to the insurance OF houshod
propsrty. &c c. and life insurance in Virginia. From
ths lishts before us stll convinced that the
practical Admission of Individual competition in This
instance cannotiail to become the source of numsr.
las and grave disasters We are the more confirmed
m THE opinion BY our Knowledge. so far as 1t goes of
tns English system of private insurance. as demon.
strated bg civil litigation and srikingy by the
criminal records Of tbs British Empire. The list Of
frsuds, robberies bankruptcies suicides and murders
which have been traced to this source, constitutes
Of the longest Of the tragic chapters in the history Of
crime Charles Dickens has spent lifetime, and
employed the best energies OF transcendant genius,
IN tracing out and exposing TO genera! condemnation
fat anfE nrIo
With none does he deal more unsparingy than With
the Euglish system of private insurance. Even the
less unitarian pen Of Thackeray finds fruitful
theme in similar exposure. These men are moi
mere romancers. 1t is the truth Of their pictures from
rife which gives them animation, and recommends
them to all classes Of readers. When either attempts
80 correct an abuse, he fret acquires mastery
Wedge Of its and effeota by means OF pa.
:;sut and minute investigation. In this instance, as
IN many Others their graphic descriptions literal.
iy verified by public notoriey. by Parliamentary in
ssstgations, and by judicial reports.
The democrat" denies that individual oompeti
ion 10 excluded BY our present system Of corpora.
eions Why, then, no individuals engaged in the
pursuit. The corporations, home and foreign it liz
we'll known, afoTt At present only limited facilities
And, neverthsiess We 6nd no individual 10 Virginia
Issuing policy Of insurance. When these corpora.
tons have had time to extend and perfect their
engagements, there will be additions. obstacles thrown
10 the way Of private insurance, already defuuct un-
der the present imperfect regulations of the chartered
companies.
We repeat 1t. A monopoly eIists. which is daily
inorsasing in power and extent. Shall this growing
monopoly remain in the hands Of favored few, or
be at assumed by the State for the general bene
at7 These companies were chartered not for the
purpose putting money in the pockets of nsurers
shat is only an unavoidable incident but for the con-
venienoe OF the insured.
80 far a. the interests Of commerce are concerned
she suggestions Of the "Democra" are inapploable
& 10 not proposed to NEEDLE with insurance where it
becomes an incident Of commerce. 1t lie proposed
that the State shall insure articles Of commerce And
muss confess that we no manner in which com
nercal interests can be even remotely impaired or
endangered by cheaper and safer insurance Of the
lives and homes OF he c;t;, ana IF VIRGINIA