Evening star. [volume] (Washington, D.C.) 1854-1972, 1879-08-22

The Need Of a Guaranty Associates.
Ea,or 2; StSsMhat Star you were pleased IN your
tion," deserves rather to be called ga Growing
Necessity" and has engaged the attention OF
thoughtful men before this. More especially
Is some such institution required In country
like the United States. WHERE despite every
precaution taken by civil authorities and the
judiciary, the mutation In matters relating to
that few bonds remain really good beyond q
given number or years-and recognizing this
fact we frequently find bonds drawn In man.
amount OF the bond, which, especially In the
case OF large bonds, with few exceptions, results
In frightening on really good bondsmen, no
assist a friend or customer to a reasonable
extent, AID neceSstates the taking OF numer-
Gus bondsmen, the entire property OF not one
OF whom would individually cover the
uces where bonds are required are OF
such nature that every well-to-do trades
man imperatlvely ueeds some relief-such as
Not week passes but what every prominent
business man is called on to 60 on the bond OF
some more or less esteemed acquaintance. II
able customer. II he assents, he is Involving
himself beyond measure In responsibility, and
yet ne cannot abstain altogether, for he too,
requires re u re bonds Dendsnen at times, and where is he 70
where such persistent refusals have entailed
even worse consequences than q reasonable
number OF assents. But the self-reliant, hon
orabie business man always feels repugnance
TO ask any one TO 60 on his bond, knowing that
In so doing he must be prepared to return like
TOT like. Here In Washington, more especially,
Is some such, let us call IL Guaranty AsSociatfon
needed, where so many large and valuable
government contracts Transportation OF mailS
furnishing supplies, etc., are awarded and
oHRes sS,po commensurate @ required II would prove
ana to the government. But also would
sucn an association prove q blessing
to seek the friend they need Yes In the mat
ter OF bail bond, and particularly for small
amounts, such an institution would not only
good, whilst at present this business is all left
10 shylocks. Now, as TO the profits OF such q
Guaranty Association. Nothing can be more
VIII require is some statistictan. as for In
stance, Mr.. Alexander r. Gardner 70 he An.
trusted with the work OF classifying the risks,
sions, administrators and guardians bonds c,n-
tractors bonds, then the various classos ~
treasurers and nduciary bonds, &C. Your sta.
USuGianS na can readily from the records OF the
ernment, ascertain the number and amonns or
IorieltufeS, as compared with the total nnmher
St OF, Donos given IN each class-during the past
nny yedIs-auo from this he VIII affix yonr
premiums for assurance with certaintynnite ss
Iouaple as those or any marine or fire fnsnrsnCo
company. @ II win be more dt1icult to do 90 In
ranc,arv - p rne premiums on treasurers and other
close observation would also enable ouarferiv
or even annual premiums to be affixed on mosf
OF tnese: In conclusion, 1t is my opinion thar
Ing OF such guaranty association a oenersl aSt
Oh incorporation by Congress is desifabie' sncn
as exists for the organization OF nataonai Senss
anu tnat as the case with them, the govern,
ment Untougn the Immense number az nnnSs ~
iequires, being largely ana Directly interesfaS
Ia tne institutions OF this clase Should also ex
eaclse supervlearv powers over their mo6e oe
Voaeycspg PoslnesA Noys YuRQNA