The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1898-09-29

Answering Statements Made in The Progressive
Farmer.

increase in the number of insurance
companies and the extension of the
business. The increase of Secretary
Thompsons administration for 1S9
over 1896 would be accounted for by the
increase on the amount of the license
taX-because of the higher rate, this
alone would amount to something over
$1O. 000-and a slight increase in the
number of companies. and the increase
of the commission tax on account OF
extension of the business, which has
been much. Those who have not in
VeStigated the development of the in
SuranCe business of North Carolina
have no idea as to what extent and how
rapidly it has grown in recent years.
a reference to the annual statements
of Secretary Cooke, made in 1896 and
TO that of Secretary Thompson. made in
1897, shows that in one year this in
crease amounted to over a quarter of
a million dollars for sixteen life com
panies. and the increase in the commits
sion tax thereon to more than five
thousand dollars.
The license year of insurance COM
panies is from April to April. Some Of
the taxes aSSregating over two thou
sand dollars, due for the year com
mencing first of April. 1896. and end
ing first of April, 1897, which were col
lectible under the Cooke adminiStra-
ton. were collected by Secretary
Thompson soon after he came into Of
flee. Some of these were from old COM
panies which had been doing business
IN the State for some time and who had
made their regular reports, and their
solvency approved, but the tax
had not been paid. for new Ii
censes issued to the companies. The
other companies were doing business
without license and without the knoWl-
edge of the Secretary Of State. who
mad no means of detecting them in SO
doing. When these companies filed re-
ports At the beginning Of 1897, these re-
ports showed that they had been doing
business in North Carolina in 1896: and
secretary Thompson. as was always
the rule of the office, collected the fun
amount of taxes which they should
nave paid in 1896. before authorizing
them to do business for 1897.
1t appears from the report Of Capt.
Coke that the collection. from the LIST
Of April, 1891 to April. 1895. amounted
o $166,99 400, an average OF Sal. 49S. IS.
Now, the fact that the amounts col
ected per year by Secretary Coke were
SIS than the amounts collected by Sec
'etary Cooke and Secretary Thompson
ought not to be considered as evidence
II unfaithfuneSs on the part Of Secre-
-Sry Coke, for the reasons: that it is
accounted for by the increase Of the
license tax and the large extension of
he insurance. And this applies also to
he collections made under Colonel
saunders administration During the
haIly years of his administration the
insurance business was insignificant as
compared with what it is now; and dur
ne the last six years of his administra-
ION the license tax was only $50 a year
or all companies. whereas during Sec
'etary ThOmpson's administration it is
$50 a year for life companies and 5000
| year for fire companies. During these
TX years the annual amount Of license
AK could not have been more than
tbout $1,000. A greater injustice could
lot be done to the memory Of this
brave and honorable man than to .ug-
test this as ground for inpeaching his
character either for integrity or faith
fulnesS.
''On the day of DR.. Thompson's quail
fcation as Secretary Of State I pre-
1ented to him a balance-sheet showing
I balance on deposit to the credit Of the
secretary of State on all accounts or
", 1854, which amount I Immediately
urned over to him. ] at the same time
urned over to him the books Of the Of
ice, including two ledgers. which con-
tanned full account OF my adminis-
tratiOn Of the office. I believe Dr.
Thompson is an intelligent and eff
lent officer. AS he did not call my az
.ention to any error found in the Office,
am obliged to conclude that he has
gwen out no statement to any one
which reflects in any way upon my ad-
of the office. and that he
IS in no way responsible for the publ
'atiOn referred to in the beginning OF
-hiS communication.
&C NJ. COOKE"