, 1876-02-27
ruanRaucE AND CURRENCY.

We printed few days ago an eiaoora1e re-
,-;a1r of tho insurance business Of the United
States, or at least of the 2o5 insurance com
panies doing business in the City OF New
York. Of these, 102 companies are OF the
State of New York, eighty-nine companies OF
other States, ten English, ono German, anu
three Canadian companies. 1t Will be re-
membcred that these companies include only
those doing business in New York, and out
side of this list is O very large number OF
companies with large lines OF insurance anu
risks in various parts of the country.
The total risks OF the companies doing busl-
ness in New York amount to the enormous
sum Of si1 thousand three hundred and
twenty-three millions seven hundred and
thirty-tvo thousand f7e hundred and TWEEN
ty-one dollars (3G,s23, 7s2, ,521). That is the
amount of the hazardous and combustible
property of the citizens who have insured IN
these COS companies That is the amount OF
money pledged to them as guarantee against
loss by Ere It is three times as great as the
national debt; it is greater than the combined
debt of the nation, Of the several States, OF
all the municipalities, with the capital OF the
National Banks added thereto.
To secure this guarantee the owners OF
| property, in 1875, paid no less than SEQ, ooo,-
600 On their policies. They purchased the
guarantee at that price. In case of disaster
to any of them, they ara to be paid their
| losses. The contracts arc all payable in
| legal tender. The value of the guarantee is
affected by every change in the value OF the
money in which it is payable Do these
| peorle who ara 80 blatant in demanding
s-cheap money money SO cheap that it
will take two or three paper dollars to pur-
chase what one paper dollar will now buy
consider the effect which the success OF their
scheme would have on the value Of this pur-
chased Investment The fal1 in value OF
ereepbacks from 90 to 50 cents on the dollar
| reduces the value of the insurance SG3,23 >
$50. To reduce the value. Of the greenback
5 cents on the dollar is to reduce the value
! of the insurance fund for the protecuon
against loss By fire over s31G, ,o0o, GOO, orr sum
exceeding tho ontire loss of property in Chi
| caeo by the fires of 1871 and 1871. In othe1
| words. the reduction Of cents on the dollar
| in the value Of greenbacks would be greater
loss to the people who are insured, in case o'
tho destruction of their property, than thf
total loss by the unprecedented fires IN Chi
cago. :.
Il, however, the shinplaster lunatics should
succeed in reducing the value of greenback'
90. or 10, or SO cents on the dollar, the reduc
ton in value of this guarantee fund woult
be proportionately greater. To reduce th'
value of the greenbeck from its present value
to 50 cents On the dollar would reduce th'
value Of the insurance fund for the pnymen
of losses in an amount greater than the who'll
public debt Of the United States, greenback
and ell.
People who think of joining shinplaste
| clubs, to aid in reducing the value of sucl
notes to the least possible sum, Will do vel
to consider how far they are destroying thel
own interests, as well as the interests Of thei
neighboss, by such incendiary proceedings