Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1874-06-13

Irisksas moncysmaking operation; the
owners of vessels were driven by the mis-
fortunes of our government and the I'M
friendly acts Of our British cousins to pay
the premiums exacted.. The. owners were
the party aggrieyed, wronged by the
course of England in sending out the Ala
bama cruisers. and to them the reparation
for that injury whatever it might be is just
ly due.
1t required man Of Buffers pluck and
nerve to stand up and face successfully the
opposition he encountered, and most ably
was he assisted by Messrs. Hale and Frye
of this State, both of whom added new
laurels to their already brilliant reputa-
lions as debaters. In his remarks closing
the debate Mr.. Butler said:
Mr.. Speaker, what must be the exigency of
that course, what must be the influence of the
money concentrated in few hands in the city
Of New York, and in the cities of Boston,
Philadelphia, and Baltimore, that can so in
fluences the polite and courteous gentleman
from Vermont that he violates every rule of
the House and every courtesy of debate and
insists on thrusting himself upon me against
my will and the will of the House, after we
have listened for four mortal hours to the
claims of these assurances companies present
ed here for money out of the people, when
they have already had 81 for 81, and divided
among themselves. lam either right or wrong
in this, and I desire to show myself right
before the House and before the country. l
hold in my hand the charter Of the old Allan
tic Insurance Company, whereby, in 1882, it
was made mutual only in name. 1t is no more
q mutual company than our old air of "Home,
Sweet Home" is the same that we have heard
in our childhood when played with variations
by an Italian opera company. daughter
We never can find any "sweet home" in it
any more than we can find any mutually in
this company, except a mutual desire. mu-
tual power, mutual organization to rob the
country. / have here the statistics of that
company for the years l860-l-2-3 and which
will show how it robbed the country by war
premus and profits.
In 1862 the gross receipts of the At
lantic Insurance Company were S., 116,000,
its losses So, 0OO, 900, its net profits $l,740,-
900, and its assets 81, 900, 900. In 1868 its
gross receipts were $s,2l4 900, its losses 49,
600, 900, its net profits So, 100000, and its
assets were increased S2,000,000. In 1864
its gross receipts were Sc, 1873, 900, its losses
81, 432, 200, its net profits 81, 500. 900. and its
assets were increased to $l2.000,000. In
1865 its gross receipts we're $4,000 900, its
losses $l,733 900, its net profits So, 745,000,
and its assets were increased to Sl2, 900.
Let the reporters put that in SO that the coun-
try shall see, so that the world shall see, who
it is that comes here asking to take away from
the shipping interests of the country the poor
remains of indemnity that belong to them.
This insurance company comes here and asks
for the sum of 81 $685. 900 and interest-over
So, 500, OO0-to be added to that of which it
has already robbed the sailor and the mer-
chant by its war premiums of 10, 10, and 20
per cent. l desire to know if that is the en-
tertainment to which the country was invited
when we were asked to go to war with Eng
land to make good our claims for losses suf-
fered through rebel cruisers. Do you under
stand little now, gentlemen of the House OF
Representatives, how the milk got into this
cocoanut?
Mr.. Buffers substitute for the Senate bill
was agreed to-yeas, 1872; nays, l0l.