Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1859-04-06

Counties not Reportea March

9aT5Fo, 6154, SSiSissI, SissI, il. Gaoa.'
In reading these tables, it must be borne in
mind that home companies are taxed on the
assets, while the foreign companies are taxed
on tEeir receipts,
The gentleman from Hamilton says the for.
eign companies do not bear their fair share Of
the taxes of the State So that | can only say,
if they do not will vote for any bill he may
introduce TO make them
| BY these tables il will be seon that thero are
| fifty counties in this State with no domestic
companies presented--dependea entirely up.
on foreign companies for the security of Their
| property.
| But, Mr.. Speaker, il must be evident from tn
facts have stated, that at this time, the State
is not suffering from bogus foreign insurance
companies that we must have the aid of for.
| eign capital aud that without it commerce TO a
great extent must langush and die, or be carr-
| cd on at an enormous and unnecessary risks
| that the present law affords ample protection
to our citizens, and that they are perfectly sat
islied Herewith
But it ls said that twenty two foreign com p.
panies have failed, that have done business in
the State Of Ohio, Sir, this may be true, but
| only one has failed since the passage of the
present law, and TO that have alluded. Bot,
sir, In the same time OUer forty home compan. l..
les have started and died, and the gentleman is
welcome TO all ho can make out of that part Of
his argument.
What then can be the object in passing this
bllll The merchants do not want 1.-THE peO
pie have not asked for IT, They are at home
| attending to their farms and their merchandise,
and are satifed with things as they are They
ask no legislation ON this subject Then why
pass this blll Why simply TO crafty a few
ma trhn tuilliufr 10 al.
State in order 10 aid their selfish designs and
forward their ambitious aims Simply TO aid a
few home companies TO get risks at the expense
of the people
Sir, / trust no such check will be given to the
interests Of the people Of this State. trust this
| Legislature will not strike so deadly a blow at
the best interests of the State, as would nsyla-
! bly, result from the passage of this bill
Under this wise aud prudent legislation of
former times, Ohio has been rapidly advancing
in wealth, dignity ndpower Ste is yet in her
infancy. Though an inland State far from the
salt oceans, her shores are washed on the north
| by the great Lakes, and on the south by the
waters Of the beautiful Ohio. Her Commerce
covers those vast inland Seas with vessels
| freighted with untold wealth; and year after
year sees her growing fleets with white wings
waiting the riches of our State across the Ocean
to the shores Of the Old World, I he magnificent
! Ohio, rolling grandly by the Queen City Of the
| West, is 10 day crowded with costly steamers
with their golden cargoes, steaming down to the
Father of Waters, 10 the Gulf of Mexico, bring.
ing back wealth and profit to swell the glory
aud the pride of our people
The under10riter is as necessary 10 the mer-
chants, as the blood and arteries are to the hu,
man system. He spreads his protecting arm
over all their vast interests, and saves them from
tho psFils Of the sea and the dangers on the land
To strike fatal blow at him, is TO cripple and
embarrass the great world Of commerce, and Il
toll the death knell Of our prosperity and power
| am confident that this Legislature will ac
wisely, and as tho best interests Of the State re
qure in this matter, aud with them leave th,
fate Of this bill.