Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1873-01-09

duty it is TO consider what steps are
des. .rable, and to employ such means as
may be necessary to secure free and
uninterrupted navigation of the Ohio
River and the princip Il streams which
/ feed it, so far as that is possible. This
commission has had frequent meet
ings, and is still prosecuting the work
delegated to it. No appropriation has
heretofore been made tO pay the eX-
penses of the Ohio commissioners.
Your attention is invited to the propri-
ETY. of some proper and REASONABLE pro-
vision.
You are also requested to unite with
the commissioners in their memorial
| asking Congress to give the subject
such consideration, and TO take such
action, as matter of great national
importance demands.
| CENTENNIAL CELEBRATION.
Great preparations are being made
for celebrating the one hundreith an
niversary of our National In.lepend
ence, in 1876. The Congress Of the
United States has by legal enactment
constituted National Board of Com
missioners and Board of Finance,
composed of corporatOrs from each of
the several States and Territories. To
make this celebration cIeditable, as
the occasion demands, it must be
brought home to the hearts of the peo-
pie. All should III some way contrib
| ute to its success. AS we remember
what marvellous blessings have fol-
lowed the Declaration of l116, it is en-
inently fitting that we should give eX
preston to our appreciation and our
gratitude.
The General AsSembl of Ohio is
therefore respectfully requested TO CO.
operate witf the Congress of the Ma
tion in making the necessary prepara-
tiOns.
MANNER OF LISTING PROPERTY FOR
TAXATION.
The laws now in force governing the
matter of listing property for taxation
are thought by many business men to
be defective, inasmuch as they afford
opportunity, for those disposed TO avail
themselves of it, to avoid their fair
proportion of the public burdens. If
merchants and manufacturers were
taxed upon sales, rather than upon the
"monthly average value of all mer
chandiSe owned and held" by them, it
is claimed there would be more equi
table distribution of taxation. And il
ought not TO be possible, as it now is,
| for private bankers to do a very large
business and yet only pay taxes on
Office furniture. This subject is WOr-
| thy of your attention.
INSURANCE DEPARTMENT.
Complaint is made that the law now
i'll force, passed March II, 1872. Great
ing and regulating the Insurance De-
partment, is unnecessarily severe in its
operation upon the insurance cOmpa-
nieS of the State. Section 6 of the law
makes it the duty of the Super inten-
dent, in case the net assets of any COM
pany are reduced more than twenty
per cent, to require of the officers that
they direct the stockholders to pay in
the amount of the deficiency within
such period as he may designate in his
requisitiOn. Section IL makes it un-
lawful for such company to issue any
new policies or to transact any new bu-
siness after the Superintendent shall
have issued his requisition.
The amendment suggested by the
Superintendent of Insurance is, that
it shall be lawful for company to con-
tinue business for II reaS onable time,
say twenty days, after service of the
requisition, providing its impairment
shall not exceed fifty per cent. The
Commi .sioner very properly says ::
This would give such company Il
chance to recover while it has some
vitality. Suspending its business during
the tiLne indicated in the requisitiOn
destroys confidence, and renders it
almost impossible to resume again to
any profit"
Considering the unparalleled mis-
fortunes which have oppressed insur-
ance companies within the past year,
the suggestion OF the Superintendent of
Insurance would seem to have great
force.
i pRQIElwEIlN OLE MINERS