The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1898-09-29
from the Democratic Hand Book.


Ieighteen months. These enemies have
had time and opportunity to search
them through and through. The only
suggestion Of any failure of duty on the
part of any Democratic official come:
from a newspaper against two brave
and chIvalrOuS men, who are now dead
and cannot speak for themselves. \;ut
Hon. {. M. Cooke. late Secretary OF
state, has SO fully and completely an
swered the insiuations of this paper
| hat We give bis letter to the public
Neither he nor the letter needs any
words OF commendation. both speak for
themselves. and no one can discredit
either. The letter is as follows:
"Louisburg. n. c., August 8. 1898.
| My attention has been called to a
publication made by the Progressive
| Farmer in its issue of April 9Th last.
comparing the present administration
OF the Secretary of State with the ad-
| 1ninistrations 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 a correct statement of the
| taxes from insurance companies col
iected and paid to the Treasurer by the
present Secretary of State. from jan
uary, 1897. to April l. 1898, and com
| pares this statement with the amount
| reported collected and paid over by
| Secretary Cooke. from September l,
1895, to January l. 1897. To one unac-
| quainted 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 selected from DR.. ThompsOn'S ad
ministration is for the purpose of col
! Getting the commission taxes on insur-
ance. to which it refers, practically
TWO years; While the period covered by
the time selected from Secretary
Cookies administration, in respect to
this same subject-matteI, covers prac-
ideally only one year.
The law in respect t. the commits
sion taxes on insurance companies is:
That the commission tax of two per
cent. on the receipts of the insurance
companies, is due and payable within
fifty days after the reports of the com
panies are filed, and that such reports
must be filed within thirty days after
The first days Of January and July, re-
SpeCuVely. A much larger business is
lone by the Insurance companies dur
.ng the fall months. and the taxes on
January reports are much larger than
on the July reports. It will be seen that
while there were sixteen months of the
Cooke administrat ton. it only embraced
the times for the receiving of two semi
annual reports and two semi-annual
taxes, namely, January, 1896 and July.
1896, while the fourteen and twO-third
months taken from DIR. Thompson's adj
ADMINISTRATION include the return periods
of January, 1897; July. 1897, and Janu-
airy, 1898
There are two taxes on insurance
companies. The one is the commission
tax. referred to above, and the other
the specific and license tax. The COM
mission tax has been uniformly two
per cent. but the law allowing a re-
duction Of this tax to one per cent. for
investment of the companies receipts
in this State has not been uniform in
respect to it's requirements. For years
this reduction was allowed on the in
vestment Of One-half of the premium
receipts in this State. and number of
the Insurance companies complied with
this law and only paid one per cent
taxes on their receipts. In 1895, during
the last year Of Secretary COke'S ad-
ministratiOn, the law was changed so
as to require the investment in this
State OF one-fourth of the entire assets
Of the company to secure this reduction.
None OF the companies, except those
chartered in North Carolina, awaited
themselves OF this new law.This should
be considered in favor of Colonel Coke
and Colonel Saunders in considering the
Increase OF the amount of taxes collec-
ted by the Cooke and Thompson admin
has been several times changed. At
the commencement Of Colonel Saun-
ders administration, in 1879, it was 500
on both fire and life insurance com
panies 1t 50 continued until the Act
OF the Legislature preceding the adop-
ton OF The Code in 1883. when it was
raised to 1920. and it was so written
in The Code. But in 1885. this license
tax was reduced. both for fire and life
insurance companies. to Sc. and so
continued to 1891. when it was again
increased to 800. In 1896 the tax on fire
but va. increased to s30s on life com
panies. In March, 1897. it was in
creased to 5000 on fire companies and
$3.50 on life companies. 50 it will be
seen that during the last year of the
Coke administration. and during the
Cooke administration, the license on
IRE insurance companies was twice
what 1t was during six years of the |
Saunders administration, and the
license on life insurance companies was
four times as great as during the said
six years, and twice much as it was
during Saunders administration, from |
1883, and all OF the Coke administration.
except the last year. Now, the tax !
during the Thompson administration
has been twice as great on the fire in |
surance companies as it was during the |
Cooke administration and Of the Coke |
companies $50 per cent. greater than in |
first three years of the Coke admins |
trauon. and o5 per cent. greater ehan |
in the last year OF Coke administration |
and during the Cooke administration |
According to the reports made by |
Secretary Cooke to the General Assem-
bly,. the amounts collected by his |
predecessors and himself and paid into |
the treasury on account OF these insur- |
ance taxes for the two years proceed /!
ing December 81. 1875. as follows
Insurance commission tax, 1895
License tax. 1895, (by Coke. :. 1o.eis5s
So, sss ~
Insurance Commission
tax. 1896, Cby Coke So, 31Sss
License tax, 1895,
COOKE .......- -. :. IL, 37S 50 - 7OS g
In addition to the above there
was on deposit in the bank ~
part Of the amount and turn
ed over to Secretary Thonp-
soh ......-. ....--...... 2.SeS. IA
>s2e74s7
'Dr. ThsmpssA's books shsv that he
collected during tAe Grst year Of hi.
adm inistratt0H. that h. A. to January
l. 1Ss1. as follsws:
For Commission tax .. ~. ~ q
Hsr IcsRee tax .....,........ r. So -