Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1871-12-26
A new System of Insurance Needed.

"A uSW SyotSlu VI 4uouEuhCS NeSOSAs
1t might be presumptious in US to
instruct our law makers, or attempt
TO teach our Senators wisdom. But
he must be as blind as the eyeless
fishes Of the Mammoth Cave, if he has
seen nothing new in the light Of the
Chicago fire. Not only will a new
city, but new ideas, new systems
and modes of protection spring up
from her ashes. Spontaneous benev-
oleDce is pouring oil upon her
wounds, but the purchased and paid
for aid of insurance companies has
failed. These companies have to
pay thousands Of agents, presidents
and directors, clerks and other off,
GERS, and their salaries eat up their
funds faster than the flames Both
interest and human brotherhood unite
in alternating the misiortunos Of one
man by dividing it among thousands
Of bis fellow citizens, and it is ow-
ing TO the expansion Of these princi-
pies thatlegions Of corporations have
sprung up in modern times guaran>
teeing us protection against all kinds
of losses in life, property or estate.
But private companies cannot supply
the universal necessity, owing to the
enormous expense attending their
operations.
Why may noti ms urance DC legisIa
tive into tax on property and coll
lected as other taxes2 We might
not be able to put all our ideas into
legislative terms or draft the law
We do not propose to increase the
number Of county or town Offices, or
greatly to increase their present du-
ties nor would we convert either
county or state into an insurance
company. We don't want any in
surance company at all, but would
work out all tho benefits Of insurance
through the present county and town
organizations and officers. Farmer
4 wants to insure his dwelling house
aud barn aud perhaps their contents.
The assessor values bis land and
buildings together as taxing basis
for general purposes and he values
his buildings separately for insurance
purposes, in the same roll, or in sep
arate ones az the law may provide.
This assessment should be subject to
revision and alteration by the town
Board on u full hearing of all parties
interested, with power to reject any
risks too dangerous. Town insur-
ance valuations should be revised
equalized between tho several towns
by committee Of the county Board.
This brings us TO q settled basis of
insurablo values. Property would
need classification. Village property
should pay a higher rate of insur-
anco, and the maximum amount that
the insurnd IL any cnse could be
compelled TO pay would have co DC
determined by law or some compe-
tent authority. The maximum
amount certainly would not be great
er than half Of one per cent for one
year When q small prescribed rates
able installment is paid in TO the
town treasurer by each of the appli-
cants, then his insurance should CONS
mence assessments could be made
TO cover future losses when adjusted
by committee Of the county Board
and added and collected with the
other taxes against the insured prop
erty. The insurance should also
have the force Of . lien, authorizing
suit and judgment to sell the premi-
SEES to collect the installment if necs
essary.
This scheme, of which we have
given vague and meagre outline,
of course would require a legislative
act 1t would dispense with all pol
iclcs and premium notes, for the law
itself would set forth the contract. 1t
would dismiss at once the vast army
OF officers and agents which private
companies arc oblige to employ, and
il seems TO us that it would reduce
insurance to its minimum Of cost, and
raise il TO its maximum of benefit.
The Rock River County and Mil
waukee Mutual Fire Insurance Com
panies are now undergoing the
wasteful and ruiuous process OF bank
ruptcy in the United States Courts.
Men are sued all over the State for
smallest amounts chat would disgrace
q Justice court, and are put TO the
cost Of $50 or more in the collection
of $3.50. The Bankrupt law is q
nuisance that ought to be abated
with all possible dispatch But rs
long as il exists nobody is safe in in-
suring in Mutual" company unless
tho company itself is insured against
bankruptcy.
Tho Civil Service.