The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-09-22

as the other. The truth IT, that before any
more Insurance laws are enacted. about nine
tenths Of those now existing should be re-
pealed.
The controversy between the city and the
waterworks company seems no nearer adjust
nent than ever. and the city remains firm In
the dissemination to stand by the reduction
works company IL equally firm and the water
Will be shut off from all the fire plugs on the
10Th itlst.--l indianapolis Sentinel.
Now letinsurance companies carrying risks
In the above city commence the wholesale
cancellation of policies, and we venture to
predict that such settlement Of the eontro-
versy as will make II once more safe 10 do
business there will be speedily accomplished !:
and such cancellation Is nothing more than
justice TO their other policy holders demands.
The unseemly warfare that ia being waged
between our home and foreign insurance
companies doing business In this country
cannot fail TO be productive Of injurious re-
suits to the belgeients.
The demon OF prejudice should not be
allowed to obtain foothold In the sanctuary
OF an honorable business. Petty jealousies
Invariably lead to dishonorable rivalry.
Men who wish to maintain their manhood
and the dignity Of their calling should assert
themselves and crush this obnoxious rivalry
That there are enough of such men In the
Insurance. profession we have never doubted.
that they will make their influence felt by
securing alike fair play" for foreign and
nome companies, and prevent continuance
of controversy that should never have been
begun, is earnestly desired by every indie
pendent member OF the profession. --Chroni-
Gle.
We have touched upon the subject of State
supervision more than once. and intend tn
Keep UP the attack until it is numbered with
the things that were: and to-day we give
give place to the following timely words upon
the same subject from the Investigator.
The Insurance press. with few exceptions.
has taken strong ground against the whole
system, and has demonstrated beyond all
question that 1T is repugnant to the genius of
republican Institutions. that IL imposes
heavy burdens of taxation upon a portion of
the people without corresponding beneIits:
that under the special police regulations to
WHEN insurance is SO uniusty subjected, hon
estly managed and commercially sound com
panies have been driven into bankruptcy
by the score and fraudulent con
Germs have been permitted TO swim
nle the people under the sanction of
law; that the system of State supervision
affords literally. no protection to the peo-
Hf that He EVIL officers lit itt5 tttttit,tt s,ttr
tlle exercise q 50 much arbitrary power as do
1lle heads OF the several State Insurance de-
ed by the Executive and consequently re-
moved from direct responsibility to the peo-
pie, the. true source of all power: that the
laws under which they assume to control the
business OF insurance are. as a rule. crude,
and, II not harmless, positively Injurious:
and That they impose heavy and needless
burdenssof expense. upon companies. that in
the end must be paid by the policy holders i'm
The form of increased premiums
The insurance departments soon grew to
be mere political machines: they were ere
ated TO give. place to active paitisans who
mat 4h.tY. I1.,.
influence and not personal fitness to a great
extent governed the appointments. and then |
as soon as the machine was fairly in motion |
the incumbents seemed intent on increasing |
latures were called upon for additional legis- |
iation year after year, until the statute books |
are numbered up with great mass of legisla- |
ton, little OF II good, some of it harmless |
I'll now the business of insurance is fairly |
staggering under the manifold burdens inn |
posed upon 1t. and governmental interference |
~ carried to an extent that promises to be /
continued much longer, either the govern
ment must assume to run the insurance bust
ness entirely. or insurance will become OBJ
solete. Men having money to invest will
prefer to employ IL In other departments of |
business In which they are permitted to con-
troll their own affairs unfettered by any spe-
cial police regulations.
The system of State supervision, as Il Is
business OF insurance Is essentially and in
nately corrupt and dangerous, and, therefore,
must be hedged in, like the social evil in
81 Louis, by legal enactments and special
State police. 1t assumes that 1t is an evfl that
cannot be abolished and therefore must be
regulated upon the same principle that the
liquor traffic is licensed and placed under
the special surveillance of special statutes.
1t assumes that the business of insu-
rance cannot be honestly managed when
left only to general statutes, and therefore
the State must employ special officers to keep
1t within due bounds Il is based upon the
fundamentally erroneous and dangerous as
sumption that the government has right
to interfere with, control and direct the pri-
vate business of citizens to an unlimited ex-
tent tent Ii might do in despotism where a
despot Ion the throne possesses absolute
power over the persons and property of his
SUBJECTS. but IN a land In which the govern
ment derives all its just powers from the con-
sent OF the governed, it becomes an outrage
asL9 q dangerous innovation upon the rights :
and hberties of the people