The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1894-01-19
MUNICIPAL INSURANCE.

We would suggest as suitable top
ic for discussion by the Social Science
club, and for consideration by our
citizens generally the subject of mu-
nicipal fire insurance. The remark
ably good record of Mankato as re-
CARDS fire losses entities it to lower
rate of insurance than the compact is
likely to grant. Would it not be we'll
to have municipal insurance to take
the place Of corporate insurance, and
save to our city the thousands Of dol
lars paid on insurance policies to help
the companies pay losses in cities that
have poorer fire protection and pay
large salaries to an army of officers?
Suppose very slight tax were to be
levied on all personal property, the
proceeds to comprise an insurance
fund in the city treasury. Out of this
fund let all losses be paid, after a
careful adjustment by disinterested
parties. The assessed valuation could
be taken as the basis for payments, as
that would never be likely to exceed
the real valuation; or the &C Jual valu-
alton, less certain per cent, could
be taken.
With this system. the profits that
annually go to insurance companies
could be used in esta blishing strong
fund, which could be invested in city
bonds, thus keeping the interest at
home. Eventually the insurance rates
would become mere, bagatelle, and
there would be an absolute assurance
to all property holders.
These thoughts are thrown out for
consideration in the rough state to in
vlte discussion. Municipal insurance
In not new, but has been proved a
practical success by experience. 1t
should be properly and sufficiently
hedged about to protect the city from
imposition. The causes which lead to
the suggestion are extraordinary, and
it may be that this or some other plan
may be looked upon fav0rably, as like
ly TO save large sums of money to our
people in reduced rates, and furnish
ing at the same time absolute security
to property owners, rich and poor. In
surance is as much necessity, or at
least 1T is as great boon, as city
water works. city lighting, city sew
erage, city transportation, etc, 1t
would benefit the poor in greater ratio
than the rich, and would insure every
man the possession of his property in
one form or another. At the same
time it would stimulate the autnori-
ties to have constantly better fire pro-
lection, and to enforce the ordinances
regarding putting frame buildings in
dangerous pls ices and the proper con-
structiOn of fiueS. Everybody would
be interested in keeping the losses
low and would therefore demand the
most absolute safety possible.
The price of high grade bicycles
has been reduced from $3.50 to 1925 by
all of the companies manufacturing
them. Very little change has been
made in these wheels, as about all
possible Improvements have been
made. There is very little
change IN weight, and the road
sters will weigh from 81 to Sc pounds.
For ordinary pleasure riding these
are the favorite, although some pre-
fer a 80 pound wheel. The medium
grade wheels will sell at $50 to Sl20
and will show much greater per-
centage of improvement in material
and style than the high grade wheels.
The local dealers expect good
demand for wheels during the ap-
preaching spring. The reduced prices
will have much to do with this, al
though the hard times may prevent
many from purchasing at any price.
Wheeling promises to be even more
general and popular than last year.