The democrat. [volume] (Weston, W. Va.) 1868-1874, 1871-04-10
New York Notes.
by our own oorrsspondsnt.l


Most Of us Gothamites were wotully disap-
pointed that the census did not give US over 3
million of inhabitants, and disposed at first TO
think that our Uncle's enumerators had missed
some figures somewhere. But We have pretty
much settled down into the belief that the folks
were not at home-that the million, like the
millionaire. has not come yet And we see one
Of the chief reasons why not. We have no ad-
eonste facilities for rapid and comfortable tran
Ill TO the upper end Of the island, and so the
population Of all the neighboring cities and vi
lagos grows out OF proportion 70 ours. Inc
remedy is some sort Of 3 road on the earth, or
above !; or under it, that will transport US and
our wives and children rapidly and well. Va
riops are the projects. Alittle bit ola pneu-
matte tunnel. which proposes to blow us up
town. if only the leave Of the legislature can be
got has already been constructed, and Is on eI-
hibitiou: but as vet it's builders have the right
TO carry freight only. 1t is by no means certain
that such a mole-like mode would satisfy the
public, il the right to attempt carrying passen-
gers could be obtained. There is also the very
melancholy elevated railroad in Greenwich st.
and It'll Avenue, upon which steam dummy
has lately been placed, and from which the pro-
moters expect great deal. But It has not be-
Ell 10 VET, hLlAA ~ 70 vel ANAbeLAA NA0AAs
people will extensively patronize that way OF
getting high. Another plan proposes an eleva.
ted tunnel, supported on IRON columns and
arches, the cars TO be propelled by air; but we
fear its projectors will not be able 10 raise the
wind necessary. The proposal which looks
most feasible. however, and which is most likely
to be carried ont successfully to practical re.
suit, is that the city shall build the much need
ed road. Many people believe that to provide
such necessary conveniences for the use OF the
citizens is work pre-eminently appropriate tc
be done by the city, and they point to the Gro
ton Water Works and Central Park as example;
Of the advantages to be derived from such i'm.
provements so done. II is certain that severa
liberal charters have been granted to private
persons, many OF our most solid citizens among
I them, but Of all nothing has resulted; while ne
one doubts that il the city should undertake thu
/ thing, il would be done and probably well done
And 1T were well, 'twere done quickly"
Our new post Office will be well done, NJ
doubt, but it won't be done quickly, il the pas
is any criterion for the future. The worlt
moves, and so does the building. II is shame
that this great metropolis should be compelled
to use for its post Office thing Of shreds ant
patches so utterly unsuitable asits present bur
row but we shall have TO endure it, with onl!
the encouragement that the new one will b
really first-class and worthy, whenever 1t Il
completed.
We have lately been good deal agitated or
the question OF the stability OF our life Insura pee
companies. Our confidence has received rudt
shock by the failure Of two companies, which
have lately been wound up by our vigilant Su
perintendent In the case OF the Great Western
there is no charge Of dishonesty, but the asset.
we're not what they appeared to be, and could
not be collected. The amount necessary to re
insure the risks, or as it is called, the reserve
was not there; only the shadow OF it remained
Thousands OF persons, whose families depend
upon the solvency Of life insurance companie:
for protection in the event Of the death Of the
brc:dwinner, arc anxiously asking how far this
weakness extends. II two companies fail, why
may not othersi II the Great Western, which
had a nominAlly sufficient reserve, proved moi
really to have II, how are we TO be sure thai
any company has what it processes to have
This is a fair question, and entitled to fail
answer. Happily there is way in which it car
be satisfactorily answered. The system o.
State deposit and State registration fully meets
this question, and removes all doubts. Othei
companies may be, and doubtless many are, safe
and sound, but registration company mus
BE- why7 Because they deposit with the In
surance Department at Albany, the entire sun
necessary to meet their liabilities to their policy
holders that is, the amount necessary TO re
insure InClT Ilshs, OF tut IeseTNe ul5 &c
serve" is calculated by the Department accord
ing to the law which was originally passed 81
the suggestion Of Mr.. n. D. Morgan, President
OF the North America Life Insurance Co., tC
whose sagacity and love Of justice we owe the
Registration System, and the deposits TO meet
it can only be made in bonds and mortgages
and State, and United States stocks, the former
of which must be approved by the Department
The law provides FOR the keeping Of these Sc
curities in such manner that Il is almost 81
impossibility that they should ever be stolen
and certain that the thief could make no use o.
them II any one should by any possibility igno'
rantly steal them. Under this system there car
b, no doubtful or bogus items in the reserve
and the reserve is the citadel OF life insurance
when that is safe, all is safe, when that is lost
all is lost.
The policy holders Of the North America Life
Insurance Company know not only that the
trustees who have charge OF the funds which
they have devoted to the protection Of then
loved ones are honest, but that they have cho
sen to demonstrate to all the world that they
are so, by putting out Of their poiceT 10 be 9th
er,rise. This final browning glory Of life insu
rance entities such company to be called the
safest financial institution in existence.
There can be no fears or doubts about it
probably most, il not all companies will sooner
or later be forced to initiate the North America
meanwhile all honor to the originator and pio-
neer.
There is also a curious state OF things in the
fire insurance business, but have already spur
out this letter to such length that must re-
serve that for another time.