The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1866-06-19

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THE DEsTRUcT1yENEss OF oHARIEsToN FIRES.
We have alluded to the extent and frequency Of the
fires In Charleston. II Is estimated by one largely en-
gagged in the buainess Of FIRE insurance that between
the year 1907 or 1910 and 1851 thirteen large fires
CURED, involving loss Of nearly thirteen millions Of
dollars including the two great ares Of 1888 and 1861
the former Of which was attended by loss Of four and
the latter Of i've millions In real estate exclusively
Two questions arlse here-Oould these losses have
been prevented and II not altogether prevented could
they have been essened repaired? Events furnish
the reply We must answer the last question first The
payment OF the losses Of the fire Of 1883 would more
than have repaid the premium down to the fire Of 1885,
and the must be said with regard to the fire Of
1851 without reference 10 the frequent and extensive
fires that took place in the long intermediate period
There are two aspects question: l. The monopoly
Of insurance by the companies chartered In this Sate
The neglect Of the ci 10 furnish an adequate supply
OF water We have anticipated the reply to the first
braroh Of the inquiry The effect of various topo-
graphical surveys has beea that an ample supply Of
wafer could have been obtained om the Edisto at any
time within the last half century. The people are
partly to blame for this supineness II Ia within our
personal experience h they have been forty years dis
csaing schemes for Obtaining an adequate supply Of
water. Projects hsve been canvsssed and dismissed.
and still confagrations have devonred time after time
the farest portions their oiy. By the outlay of
moderate sum oompatsd with their loases they could
not only have obtanedan ample supply Of water, but
derived revenue BY moderate outlay and limited tax
The sum Of two mcha Of dollars would not only have
brought any needed quaty but have FURNISHED, as we
have said source Of yapue to the city. Instead Of
water like those d every other city with large
population Charleston expended large sums In digging
wslla ana tidal drains that Afforded no adequate supply
Another Of the errors Of legislaon the reduction
ofinsuranoe capital The capital Of both the Mutual
and Fire and Marine were reduced each one. hail. In
stead Of the Legislature strengthening she weakened
the security Of the clsens The principles Of insurance
seem at present better understood thnn formerly. At
ono period the Legislature had succeeded In driving ont
Of the city both the Foreign and Northern insurance
agencies by excessive taxation 1t Is only Of late that
they have again made their appearance anaohgds ID.
snrance s now conducted on more scientific pnoiples
and skillfully than heretofore, en-
abling the comp heavy fiscal burthens by
the diffusion Of the concentration of risks, the
great secret Of success bfal insurance
Three Of the looal Insurance Companies Of this city
are still in exiatsncs taking risks, although with
greatly reduced arising from the depreciation
Of their assets 1tom shs casualties Of war to wit:
The Insurance a.h Tiaas Company, J. b. HoNouR,
President. i,Ss 81 II s
'aSha aalesaa
And the Elmore Insurance Company, ". n. MAaT1a,
President.
There are ex or eight other Insurance Agencies rep
regeptipg English aud Northern Companies. larger
amount Of insurance capital is now represented In
Charleston than at any former period The insurance
capital represented In this city is said to be about
$500 900. 35Z.l...---