The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1876-03-02

cciying, during 1875, thousands of dollars
probably, hundreds of thousands-as
premiums for insurance, yet, when the
fires come, the city must pay two hundred
and ten thousand dollars Of the loss and the
companies, who are paid for insuring, only
forty-two thousand dollars.
Take Rutland. Recall the large amounts
of money that arc annually paid to insur-
ance companies, the vast amount of pio-
perty that has been destroyed by fire within
the past fifteen years, the number of these
fires that have been Of inccndiary origin,
and then consider how the insured and tax
payers of Rutland would stand, pecunariy,
under such a law as this. First compelled
to pay large premiums to obtain insurance
the money going without the state--and
then, in case of loss, taxed to pay the
amount of the insurance. Profitable bust
ness for the insurance companies, surely
Instead OF dividends ranging from ten to
forty per cent, we should see dividends
ranging from one hundred per cent. up, no
one knows how highland we would all
want to form ourselves into insurance com
panies. It would require 10 money capital
the only stock needed would be an easily
gulled people.
Arson tho report goes on to say, is "a
L" crime against the people, and if the loss
" were borne by the people there would
" not only be motive for investigation,
q" bit all motiDe .tor malicious fires nould at
" once BE- taken array" How SO The
motive for malicious fires 10 revenge.
envy, spite, to realize the amount of in
surance, etc. all Of which could be OBJ
tanned as well when when the loss was paid
by the municipality ~ when paid by an in
surance company. The motive would re-
main tho same in any event. 1t would
make no difference to John Doe whether
he obtained his one hundred thousand dol
lara of insurance on fifty thousand dollars
worth of property from the town or from
the insurance company neither would
Richard Roe, when about TO crafty his re
venge, pause 20 inquire whether the towr
of Rutland or the Amsterdam insurance
company were the insurers. What woulC
they care, 30 long as one reaped the pc
cuniary benefits of his crime and the othel
obtained his revenge?
But larson Is crime against the people.
True, ard 20 are murder, forgery, counter
feiting, horse stealing and larceny. Or
thia account shall the town of Rutland
for instance, be compelled to insure agains
losses from these sources O. j. Clark
when he obtained his thousands of dollars
from the Rutland county bank, committed
"crlmc against the people as well n
against tho bank, He was arrested
brought to trial, convicted, and suffered
the penalty of the law. When John Do,
fires his properly to obtain his insurance
he commits q "cr;me against the people
and against the insurance companies, Ar,
not the insurance companies as much in
tcrested in bringing the incendiary to jus
tice as was the bank to secure the forger
Why insure the insurance company anC
not the bank Why compel town t
stand between an insurance company ant
the fulfilment Of its contracts If a tow
nsures against crime, let it insure agans
all classes of crime, and be done with it.
A municipality might, however, inSor
property against fire with advantage botl
to itself and its property owners. BY suit
able amendments to the state constitution
and appropriate legislation, town nigh
insure tho property OF all of its citizen
against fire. If the property should he ap
praised at its actual cash value, should b.
taxed for such value, and insured for two
thirds of that amount, and, in case Of fire
the loss be assessed on all of the insurabl
taxable property in town, we should hav
a larger valuation Of property, a smalle
per cent. OF taxes and more equitable dis
tributlon thereof, and have the advantag
of not paying enhanced premiums for risk
in different localities. There would
another advantage. The money would al
be kept at home, and the payments woul
be based on actual losses, no part going t
pay for expensive insurance buildings
salaries to officers, or commissions t
agents. Some European countries act upo
this plan, and, as it seems to us, 1t is muc
more reasonable than the plan proposed b
New Yorl,'s superintendent of insurance.