The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1899-01-19
DEPARTMENT OF INSURANCE.

NeWs a,ad Observer Saturday. Mr..
Drewrv makes number Of wise sug
gestions whereby in his opinion the
present Legislature can shape such
legislation as will greatly benefit the
people of North Carolina and forever
preserve to the white men Of the
State the control and government Of
its affairs entirely. Among other
ways in which this may be done he
says:
g. By the enactment Of such laws
affecting our business interests as
will satisfy the business men of the
State that their interests are now and
always will be safe in the hands Of
the Democratic party Of North Caro-
lima. Every law or proposed law
affecting any legitimate business in
our State ought to be SO handled as
to lead every business man in or out
of the State to feel that no matter
what the national parties may do or
attempt to do, ell business interests
in North Carolina will be safe and
solid SO long as the Democrats shall
rule.
In this connection | may be par
doned for calling attention to the
business in which | am engaged
certainly one in which are involved
some of our largest and most neces-
sary interests. | refer to the insur-
ance business. Few of even our best
business men realize to what ire
mendous proportions the insurance
business has grown and how it I'M
derlies and is intimately connected
with every other business, from that
Of the largest corporation to the
smallest business man in our COM
munity. The business has grown
until now the Insurance Companies
doing business legitimateiy in this
State assume annually risks Of over
500, 900, 900, taking therefor in pre-
miums over 81 900, 900 and paving to
the State i'll taxes (besides fees to
officers Of the State over $50, 900,
while there are annually paid out for
fire losses more than $500, 900 and
more than 800, 900 for death and en-
dowment claims.
That the State should look after
and exercise a control over this bust
ness is admitted by all thinking men
and is shown by the course of every
live and progressive business State
in the Union. All in fact exercise
some control -some more-some less.
Many exercise this supervision wisely
and reap the benefit for themselves
and their citizens, while others act
indiscreetly and do more harm than
good.
Now in the supervision attempted
insurance business at least two thing:
must be well considered and looked
after, viz:
l. The collection of proper rev
enue from the companies doing
business in the State.
2. The protection OF the people
and business interests of the State
from insolvent and fraudulent com
panies and evasions of the payment
of taxes.
l. The collection of proper
amount of revenue from insurance
companies OF all kinds, doing bust
ness in the State is serious and i'm
portant problem. The amount col
lected should be a just ana Legitimate
one and should be collected from all
in correct proportion. AS the
benefits of the Government fall
equally upon all, SO should the bur
dens. 1t is only necessary to notice
how the taxes from this source are
increasing each year and realize how
much revenue is already paid il
each year now over $50, 900, and it is
readily seen that it is no easy task to
distribute this equally and see that
all pay their ust proportions, Some
strive to evade and do escape the
payment of these taxes.
,. Again the people must be pro
tected. The business interests OF
the State demand it. Insolvent com
panies must be weeded out, as well
as fraudulent companies and the
fraudulent practices Of solvent com.
panies, wherever found. The pro
lection asked for by the people de
mands that all evasions of the pay
ment of taxes by companies be stop
ped. The people are entitled to know
that the insurance companies bea1
their Just proportion of the burdens
| of the government. The best inter
ests of the State demand that onl,
safe companies be licensed to do bust
| ness in the State and that no fraudu
lent company, if allowed to enter, is
long allowed to remain, doing bust
ness to the hurt of the people. Tn,
people are entitled to have a certain
amount of education along the insu
rance line that they may be able t.
better discriminate between compa
| MES and different modes of business
They are entitled to have such super
vision of the insurance business a
will protect the good companies. driv,
| out the fraudulent ones and see tina
no company does any business excep
| such as is allowed by their charte
and is consistent with the public wei
fare. They want and are entitled tt
| have such a supervision as will al,
and use of such general and technica
knowledge of insurance and insu
rance methods as cannot be expected
of the general class of even our bes
business men.
Then all and more can be done b,
the establishment and proper equip
ment of an insurance department
The department can save yearl,
many times its cost of running il
| revenues now lost to the State. Will,
its value and worth to the people ant
business interests of the State cal
hardly be estimated-everv com
| munity will feel it. The people wish
economy. but not at the cost of los:
to revenue or the lack of protection
to them and their best interest
Economy is good thing wher
wisely and prudently adjusted. bu
the people do not demand false
economy at the sacrifice of efficiency
They demand good service. broad
and just protection to all. They arr