Baton Rouge tri-weekly gazette & comet. [volume] (Baton Rouge, La.) 1865-18??, 1868-02-13
Taxing Life Insurance Companies.

Of $3.50 each. This leads US to iuquir
into the expediency Of such a measure
Are Life Insurance Companies a prope
subject for taxation : To pass intelligent.
upon the subject, it is necessary that "
examine into the workings Of the ditfsren
plans now in operation, and proposing t.
take risks on human life. The PRopRIE
TARY, whore the original subscribers owl
all the stock, and are the sole benefciarie
in all the profits, the MIXED, hen the pro
prietors own all the stock, and admit To,
insured to share Of the profits after re-
serving to themse hes 20 per cent, and tn.
MUTUAL, when ths7nsured receives all tbs
profits.
It requires but glance to see, that in
the workings of the first two named plans
it is exceedingly remunerative to an ex-
elusive class OF individuals, called stock
holders, and known as money lenders.
such institutions may be proper subject
| for taxation. The third or mutual, sur
renders up all the profits to the insured
who by the act Of incorporation are mado
mem bers, and are entitled to vote at all
elections for officers to manage the business
Of the Company, by the charter Of such
MutnsD. A policy Of insurance for the
benefit of wife, children and other bone
.ticiaries named BY the insured, cannot be
taken for any debt or liability upon the
decease OF the person W hose life is insured
Differing from other plans, 1t is and should
be regar led as the most humane and
oenetcen- of oil devices invented by man
in aid To the happiness Of domestic lite.
Such an institution should not be the sub
Ject Of taxation; it wonld be quite as COM
mendable to levy Tax upon public chari-
ties, accumulated by Il benevolent institu-
ton for the widow, the orphan, aud help
less old age. Ia pracocai pointof view.
the premiums paid OH lie policy, in a
strictly Mutual Company, is but contri-
button 20 permanent and certain fund
ior The future comfort and support q the
widow, the orphan auu helpless. Such an
Institution is BY far preferable, and if you
Will, better suited To the condition Of our
surroundings, thar those termed charitable,
which at best, is but ta1dy alienation OF
the misery and want which hung upon
the outskirts of society. As compared with
,nli ~
company, the object Of which, is, to pro-
vide dgttsnst public charities. w lille pnbi
charity may, tof The most part, serve d
noble purpose, it tends greatly to mnlti-
pay the class, which, it is It's purpose 10
relieve BY it, dleness ana ,mprovideuce
are encouraged. while on the other hand life
assurance induces habits Of soberness, thrift
and torethuught; it brings contentedness
OF mind; the insured goes forth cheerful
and hsppy in the thought, that whatever
Of misior tune or loss Of health, he has
made provision for wife, children or him.
slt against helpless Q Id age, his labor
becomes labor Of woe. for, in the pride
behind him brood of begears. but that
his wife and children, will receive at his
death means enough, not only 70 keep
them from want, but to make them com
Portable. Such an institution should be
encouraged, rather than by prohibitory
tax driven from amongst u.s.
COMPULSORY EDUCATIoN.-It has
been Of late matter of controversy.
says the st. Louis Republican,
whether or not children should be
compelled to attend school. There is
now in our Legislature a bill which |
has passed one branch, that proposes
to fine parents who do not send their
children to school a certain part of
the year. The Superintendent of the
Public Schools in Cincinnati discusses
this question in recent report, from
which we make the following extract
The Ohio Teachers Association has
urged upon the attention
IF the Legislature of the State the
necessity of SOME general truancy law,
out SO far without avail. There can
be no question as to the need of such
! law to cities and towns, with u tru-
,ncy police added, to execute it.
This police should have authority to
arrest every youth, of schoo! age,
ouud roaming the streets during
chool hours, and, if found to belong
o any school, public or private, TO re-
urn him to bis school if not Il pu-
Ill of any school, OF not engaged in
ONE Legitimate business, the parent
hould be cited before some appropri-
tie tribunal to show cause why be is
lot sent to school. 1t is the testi. ,