Orleans independent standard. [volume] (Irasburgh, Vt.) 1856-1871, 1859-01-07
For the Standard.
To the Farmers of Vermont.

Having been a Farmer all my life, and
one who is not ashamed of his profession,
I am impelled to make plain appeal TO
my brother farmers upon the subject OF
Insurance and feel the more justified
and constrained thus to speak from the
fact that have for some time past en-
deavored to make myself familiar with
the principles, management and expense
of the two State companies-the Yer
mont M,auaE and the Farmers MH-
tual,"-and it is of their comparative
merits that 1 propose to speak. In ma
king this comparison Lam prompted by
no motives of interest or malice; simply
to impart to my brother farmers that reli-
able information upon this subject which
they ought to possess, or upon which
they ought to act, both from principle and
policy. My patronage has heretofore
been with the old company, but l have
changed for reasons which l believe ought
and will induce others to do likewise.
All scruples about coming before the
public with this subject, which l might
otherwise have, are overcome by the oft
repeated claim of the directors of the old
company, that farm property, because 1t
is rated less than hazardous property,
like stores and factories, is taxed no more
than its mutual proportion Of the losses
and expenses whereas l find that they
have long known, and once published
that this class of safe property has uni,
formly paid largely beyond its proportion
This fact is also plainly deducible frcm
nine out of ten of their published reports,
by any one who will take the trouble tc
make a few figures.
For the accuracy of my statements and
comparisons in the main, hold myself
personally responsible; though any one
who will carefully follow me through, ant
examine my authorities, will be abun
dainty satisfied from the investigation
that l am far within the truth.
l find the cost of insuring in the Far
merS' company averages eleven cents pc
year on each 500. The whole amour
insured has been $16,367, $4,000, and tn
entire cost of insuring this sum- at tn
, rate above stated, is $90,02I,83. Thi
sum has been sufficient to pay all losse
T. and expenses, and leave a balance sufI
n GENTLY large to meet all losses on til
amount now insured. The average CO
of ineuring the same kind of property
t the Vermont Mutual is Sirteen cents pr
l.. year on each 500. And to have insure
/ the $780,, 10000 in that company,
d sixteen ceuts per year on each $40
d would have cost $13O,940,84-leaving
le balance of S40,919,O1 in favor of Il
m FARMERS company! Or, in other wore
n the farmers, who have patronized the
ID o,on company, have saved to themselv
le the snug little sum of
,d S4O,9aO.O1!
70 But have adopted another method
u testing the accuracy of my figuring. ]
a the last annual report of the Vermc
- Mutual, l find the losses on dwelling he
- ses, barns, sheds, and their contents,
=, the year ending August l, 1858, amour
:, ed to S20,4j2,40, while during the san
. time the losses on hazardous proper
- were $39,300,93. The amount of pl
+or MUM notes on the first named class
ar property, as given in the same report
H., 1851, $3.50; and the assessment OF
~ per cent. on this amount of notes raj
sIv $27, 273,18, to meet the above amour
Ia losses-leaving the sum of $6,820,76 p
er by the farmers more than their share
y. the losses! a similar analysis of ot
iad years shows the following result:
,n Report of 1853, gain on farm pr
or erty, $6,820,7t