Nebraska advertiser., 1877-02-22
Refused to Insure.

Our Legislature refused to make
any appropriation for insuring the
State buildings. We think it did not
do its duty in this respect-it did not
act for the people upon the safest bus
mess rules. If the capitol, or Univer-
sity, or Penitentiary should burn
down within the next two years, and
direct tax be levied to rebuild, the
people would see very clearly the
foolishness of Legislature "going it
blind" and trusting to luck. The
people will generally endorse the fol-
lowing, in reference to the matter,
from the State Journal.
We do not think the House did
wisely in striking the appropriation
for insurance of public buildings from
the general appropriation bill. 1t Is
urged that the State is able to insure
its own property. Now, the ability
of an individual to economically in
sure his own property is not measur-
ed so much by his assets as by his in
wealth, it is true, but we are told that
the taxation is very burdensome, and
we know that this is true. The in
come of the State that can be paid
without material injury to its proper
ty interests, is not sufficient, we
think, to justify the assumption that
it eau with propriety become its own
insurer. Its public buildings were
not for the most part erected by taxa
tion, but from the proceeds of success
full disposition of its capital in lots and
lands, which. once sold, cannot be re-
placed. An individual in the place
of our young State. if possessed of
business capacity, would insure.
The appropriation for insurance was
placed at SIT ,406 so. of which So, ,482, 75
was for the taking up of certificates OF
Indebtedness issued by the Governor
for insurance for the past year, not
covered by former appropriations,
leaving S1l ,924, % as the amount nec-
essary for renewing the various pol
icies for three years, or less that S4 900
per annum. There are fifty insuance
com panies in the States. who have
paid fifty dollars each for admission
fees. or a sum total of $500 and $50
annual fee, or 81 600 per year into the
State Treasury, also s., 900 annually
for certificates to agents and S., 900 ad-
dtional fees, amounting In all to S.
500. Add to these the taxes paid in
1876 by the insurance companies in
the State sum of S6.3l3.29 and we
have an annual income S9,813 p.
Otherwise received of insurance COM
panies by the State are the g. 500 ad
mission fees and $72 900 for insurance of
the lunatic asylum which was burned
and the sum in addition to the annual
income $4,000. Hence the State is
largely ahead of the Insurance COM
panies in Its ledger account.
The total capital represented by the
insurance companies doing business
in Nebraska is over 5000 900, 900. a cap
ital far in excess of the assessed value
of the State, and hence they are better
able to insure our buildings than Is
the State. Poor as we comparatively
are we have valuable buildings erected
as we before said. for the most part out
of our landed capital and not from our
ordinary income, that it would be
hardship to replace.
Ii we 90 not insure ali oI our ouilu
ings we should at least insure those
most exposed to accident. The Pen
itentiary is not very likely to be
destroyed, but the Insane Hospital,
the University and the Capital build
ing are far from fire proof and being
constantly occupied and not under
the strictest supervision. 80 far as the
last two are concerned, are more or
less liable to injury or destruction by
fire. Hence these buildings and the
asyluins for the deaf and dumb and
the blind ought to be insured.