Vicksburg weekly herald., 1870-05-07
ID INauRANeR nEPoaIT.

the State 100000 each. We OBJ
serve that the Governor is greatly
given to messages. He must think
that the Legislature is very Obtuse
or he must be afflicted with
eGcOceheS Scribeadi. There can
be but one or two even plausible
reasons assigned for any such
message, and they are, it occurs to
Us, mattersOf no weight. Tn cain
Is to secure a forced loan Of s20, 600
from each Company in the State.
This proposition is ObjectiOna-
BILE in that the State is in herself
self-supporting without having to
resort TO this inquisitorial process.
This putting the thumb under the
screw to extort money for which
valuable equivalent is not given is
of characte that smacks strongly
of freeboOterism. The Italian
banditti seize q traveller, assess a
certain ransom, send information
to his friends to demand it; il it
is not forthcoming q ear Of the
victim is sent next, and then the
other ear and so infinitessimal por-
tiOns, until the dismembered vic
tim is forwarded, unless the re-
quired sum is sent. Here the propo-
sition is more expedient. The de.
mand is made for $4,000 outright,
and if it is not forthcoming
the life is squeezed out of the
victim without reference to
friends. 1t is an interesting little
process, resembling to a great ex-
tent, the plan adopted by the an
cient Barons of Britain toward the
Jews. In fact, sort Of Claude
Duvall demand of " Stand and de-
liver. Your money or your life."
Suppose every State in the Union
should make q similar demand,
where is the company which could
do general businessS 1t would
simply create a State monopoly.
Companies with limited capital,
probably one or two would depo.
sit the sum required, and then, on
licticious capital, having a monop-
oily Of business, would charge what
exhorbitant sums they chose, and
force the people to pay it. Other
abler and more liberal companies
will be shut out, and property.
holders will be either forced TO pay
the increased demand or suffer
their property to go to destruction
without possibility of protection
If any good to the State, or any
individual in it can be shown, /
will not be so Objectionable; bu
we are unable to see in it anything
that is good or necessary. 1t les
sens the tax receipts by driving
away many insurance companies
now doing business here; lessons
competition, and, as a conse
Quence, increases insurance rates
1t gives no additional security, fol
in these deposits of S20, 900, the
State assumes no responsibility
There is no more protection giver
to those who secure wheA this de
posit is made than before. AnC
it decreases the safety Of insur
ance for in this forced deposit o
$4,000, the ability to pay losser'
is decreased Just that amount
What are the bonds of State t.
a company that is forced to real
ize money at once TO pay looscrs
Such legislation is emiuently un
just, for it forces these companie
) take bonds greatly less than pa
for which they pay cash. TIL
only Legislative protection whicI
can be secured to those who in
sure is TO require Insurance com
,, panies to have the requisite re
serve under their policies. Com
: panies complying with the laws c
New York and Massachusett
9 have this reserve and are safe b,
t yond question. We hope tn
:. Legislature will pass no such la
E rs the Governor recommends j
: this special message.
THROUGH TO THE RIVER.
The Vicksburg and Meridia
i Railroad should be permitted t
!, connect with the rive, bat
TN 49,. .i'.,,,l o., IL, - ,