The free press. (Southern Pines, N.C.) 1898-19??, 1899-01-20

44sAe8l45J st Nth Ia sj4 ElNeu
n fces-
Sary ~ tsur-
ance BUSH. {best
business mel. Hre-
mendOus proporps.-..----.-- Spnce
business has grown and how Ham
derlies and is intimately connHeted
with every other business, fronsthat
of the largest corporation tolthe
smallest business man in our ,om-
munity. The business has gown
until now the Insurance Companies
doing business legitimately in this
State assume annually risks ofover
Sl0e, 900, taking therefor in pre-
miums over $1,000, 600 and paying to
the State in taxes (besides fees to
officers of the State) over $4,000,
while there are annually paid out for
fire losses more than $500, 600 and
more than 500, 900 for death and en-
dowment claims.
That the State should look after
and exercise control over this bust
ness is admitted by all thinking pen
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 Aan
good.
Now in the supervision attempted
to be exercised by the State over the
insurance business at least two things
must be well considered and looked
after, viz:
l. The collection of proper rev.
enus rom 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.
/. The collection of proper
amount OF revenue from insurance
Companies of all kinds, doing bust
ness in the State is a serious and i'm
portant problem. The amount col
lected should be JUST and legitimate
ore and should be collected from all
in correct proportion. As the
benefits of the Government -
afas4ly upon a4lA7----st----henld the Ess1r-
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 in
each year now over $S5, 900, and it is
readily seen that it is no easy task to
distribute this equally and see that
all pay their just proportions, Some
strive to evade and do escape the
payment OF these taxes.
2. Again the people must be pro-
tected. The business interests of
the State demand it. Insolvent com
panies must be welded 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 bear
their just proportion OF the burdens
Of the government. The best inter-
ests of the State demand that only
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. The
people are entitled to have Il certain
amount Of education along the iusu-
rance line that they may be able to
better discriminate between comps
MES and different modes OF business.
They are entitled to have such super
vision of the insurance business as
will protect the good companies, drive
out the fraudulent ones and see that
no company does any business except
such as is allowed by their charter
and is consistent with the public wei
fare. They want and are entitled TO
have such a supervision as will lid
and care for them by the possession
and use Of such general and technical
knowledge of insurance and iusu-
rance methods as cannot be expected
of the general class of even our best
business men.
Then all and more can be done 3by
the establishment and proper equip
ment of an insurance department,
The department can save yearly
many times its cost of running in
revenues now lost to the State, while
its value and worth to the people and
business interests of the State can
hardly be estimated-every com
munity will feel it. The people W sh
economy, but not at the cost of loss
to revenue or the lack of protection
to them and their best interest.
Economy is good thing when
wisely and prudently adjusted, hat
the people do not demand false
economy at the sacrifice of efficiency.
They demand good service, broad
and just protection to all. They are
willing to pay for good Government,
but they demand that every dollar
paid out to any one or for any pur-
pose shall be made to count in their
behalf for every cent which it con-
tains.
JOHN c. DREWRY.
Mr.. Drewry is right. A depart
ment of insurance should be estab-
lished. There is need for it in the |
protection that would thus be gifbn
the people and the increased revenues
that would be derived by the State
The duties of such office should be
separated from those of the Secretary
of State, and competent persona
practical and thoroughly posted in
surance man put in charge-one who
could give the business his whole