The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1898-08-16


as part Of the amount and
turned over to Secretary
Thompson. ....... So, 500 ID
$62, GA 81
DR.. Thompson's books show that he
collected during the first year of his
administration, that is up to January
LIST, 1898, as follows:
For commission ax......... $59. C57. Oh
For license tax. Is 963 50
$95, O2O. 60
So it will be e 9 that the collections
IN 1896 under the Cooke administra-
tion exceeded the collections of 1895,
the last year of the Coke administra-
ton, by SIT, OO5 40, The increase in
1896 over 1895 would be accounted for
by the increase in the number of in
eurance companies and the extension
Of the business; and the increase of
Secretary Thompson's administration
for 1897 over 1896 would be accounted
for by the increase on the amount OF
the license tax, and because of the
higher rate this alone would amount to
something over $40, 900, and the slight
increase in the number of companies,
and then increase Of the commission
tax on account of extension of the
business, which has been much. Those
who have not Investigated the develop
ment of the insurance business of North
Carolina have nc idea to what extent
and how rapidly it has continually
grown in recent years. A reference to
the annual statements of Secretary
Cooke made in 1896 and to that of Sec
rotary Thompson made in 1892, shows
that in one year this increase amounted
to over a quarter of a million dollars
for sixteen life companies, and the in.
crease in the commission tax thereon
to more than five thousand dollars.
The license year Of insurance com
panies is from April to April. Some
of the taxes aggregating over two thou
sand dollars, due for the year com,
mencing first of April, 1896, and end,
ing first of April, 1897, which were
collectable under the Cooke admins,
tration were collected by Secretary
Thompson after he came into Office.
Some Of these were from old companies
which had been doing business in the
State for sometime, and who had made
their regular report and their solvency
approved but the tax had not been
paid, nor new licenses issued to the
companies. The other companies were
doing business without license and
without the knowledge Of the Score
tary Of State who had no means of de,
tecting them in so doing. When these
companies filed reports at the begin.
ming Of 1892, their reports showed that
they had been doing business in North
Carolina in 1896, and Secretary Thomp-
son, as was always the rule of the
Office, collected the full amount OF
taxes which they should have paid in
1896, before authorizing them to do
business for 1892.
It appears from the report Of Capt.
Coke that the collection from the first
of April, 1891, to April, 1895, amounted
to 1856 994 60, an average of Sal, 1913 S..
Now the fact that the amounts col
lected per year by Secretary Coke were
less than the amounts collected by
Secretary Cooke and Secretary Thomp
son ought not to be considered as any
evidence of unfaithfulness on the part
of Secretary Coke for the essons that
it is accounted for by the increase Of
the license tax and the large extension
Of the insurance. And this applies
also to the collections made under Col.
Saunders administration. During the
early years of his administration the
insurance business was Insignificant Rs
compared with what it is now, and
during the last six years Of his admin
istration the license tax was only $50
a year for all companies, whereas dur
ing Secretary Thompson's adm;nistra-
ton it is $3.50 a year for life companies
and $500 a year for fire companies.
During these six years the annual
amount OF license tax could not have
been more than about s 5000. Agreater
injustice could not be done to the mem
DRY OF the brave and honorable man
than to suggest this as ground for i'm
peeching his character either for in.
tegrity or faithfulneas.
On the day of DR.. Thompson's quail
fcation as Secretary of State I pre-.
sented to him a balance sheet showing
q balance on deposit to the credit of