The Caucasian. (Clinton, N.C.) 188?-1913, 1898-08-18
HON. c. N. COOKIES
VERSION OF IT.
Attempts to ShowIThat the Office Of
Secretary Of State Was Econ
omically Conducted.
FURTHER EXPLANATION

1
Once Under Democratic Admini.tratioa
A Pew More Figures Furnished That
Need Light Thrown on Tn. M to sati,f,
tn. PabIs..
| To THE EDITOR: Ny attention
has been called to publication
made in the Progressive Farmer in
its issue Of April 10Th last, compar-
ing the present administration Of
the Secretary Of State with the ad-
minis,ratiOns Of his predecessors,
which does injustice to the latter.
There have been other references to
this subject by the same paper and
by other papers in the State, and
unjust deductions drawn from the
estimates and figures given in the
said article.
The article referred to gives what
is claimed to be correct statement
OF the taxes from insurance COM
panies collected and paid to the
Treasurer by the present Secretary
Of State from January, 1897, to
April lst, 1898, and compares this
statement with the amount re-
ported collected and paid over by
Secretary Cooke from September
lst, 1895, to January lst, 1897. To
one unacquaiAted with the law this
comparison would seem fair. But
to one familiar with the law it
would appear, as is the fact, that
the period covered by the time Sc
lected from DIR. Thompson's admin
istration is for the purpose OF COL
lecting the commission taxes on
insurance, to which it refers, prac-
tically two years, while the period
covered by the time selected from
Secretary Cookies administration
in respect to this same subject mat
ter practically covers one year.
! The law in respect to the commits
sion on taxes on insurance compa-
nies is: "That the commission tax
of per cent. on the receipts of the
insurance companies is due and
payable within 30 days after the
reports of the companies are filed,
and such reports must be filed
within thirty days after the
first days of January and July
respectively. A much larger busi-
ness is done by the insurance COM
panies during the fall months and
the taxes on the January reports
are much larger than on the July
reports. 1t will be seen that while
there were sixteen months of the
Cooke administration it only en-
braced the time for the receiving of
twos semi-annual reports and two
semi-annual taxes-naRely, Janu-
ary, 1896, and July, 1S97-while the
IL 2-3 months taken from DIR.
Thompson's administration in
cludes the return periods of Janu-
ary, 1897, July, 1897, and January,
1898.
: There are two taxes on insurance
companies. The one is the commits
sion tax referred to above, and the
, other the specific license tax. The
commission tax has been uniformly
!, per cent, but the law allowing a
. reduction of this tax to | per cent
T for investments of the companies
receipts in this State has not been
uniform in respect to its require
meRts. For years this reduction
was allowed on the investment OF
, One-half Of the premium receipts in
. this State, and number of the in
: surance companies complied with
> the law and only paid per cent
taxes on their receipts. In 1898
! during the last year of Secretary
COke's administration the law was
changed SO as to require the invest
ment in this State of One-fOurth OF
the entire assets of the company to
4 secure this reduction. None of the
: companies except those chartered
in North Carolina availed them
J. selves of this new law. This should
be considered in favor Of Col. Coke
= and Col. Saunders in considering
tho increase of the amount Of taxes
8 collected by the Cooke and Thomp
son administration over theirs
The license tax has been severa
4 times changed. At the commence
ment of Col. Saunders administra
ton, in 1879, it was 500 on botl
\ fire and life insurance companies
and it so continued until the act o
r the legislature preceding the adOp
It tion of the Code in 1883, when i
2, was raised to $12O, and it was s.
e written in the Code. But in 1SS
this license tax was reduced bot
u for fire and life insurance cOmpa
% nies to $50 and so continued t
c 1891, when it was again increase
n to 800. In 1895 the tax on IRE in
1t sulance companies was left at $lO(
J. but was increased to $500 on lif
d insurance companies. In March
1897, it was increased to $500 on fir
'e companies ana $3.50 on life com
- panies. So it will be seen tina
>. during the last year of the Cox
1t administration and during th
l. Cooke administration the licens
.e on the fire insurance was twiC
10 what it was during the six years {
IS the Saunders administration an
III the license on life insurance com
panies was four times as great a
nj during the said six years, and twic
Id as much as it was during Saunder
Is administration from 1888 and a.
ir of the Coke administration exceI
is the last year. Now the tax durin
10 the Thompson administration ha
a. been twice as great on the fire il
~ surance companies as it was durin
the Cooke administration and {
the Coke administration, and th
ia tax on life companies $50 per cen
rs greater than in first three years (
I'd the Coke administration, and 25 pe
sc cent. greater than in the last yea
~ of the Coke administration an
m during the Cooke administrator
IT ACCOIO1uS W ln0 k00OIL 1u0O0 U