Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-04-28
THE GOVERNOR AND The VETO.

s NOW that IT is certain that Governor
Shaw Will sign the building and loan bill.
those who nave rad this matter in
charge may breathe easier. The scam
dalous practices of manygof the sos
called building and loan associations
have long been a disgrace and it is a
great satisfaction to know that thsy are
toseonie to an end. ii is also a satisfac
ton to know that Governor Shaw never
contemplated a veto of this measure.
His unsrring business instinct, his thor.
ough business training can always be
relied on in passing on measures of this.
kind.
1t was fortunate for the opponent OF
~vhA measure that debate was cut off BY
the krevious question. Had this not been
done Me legislature would have listened
to detaits that would have made honest
men hang their heads in shame. Some
of the members had made most careful
Investigations. and a discussion Would
y have disclosed the name of the legislator
who was earning q salary of 5000 per
month for performing the onerous duties
association; the public would have
learned the name Of the association that
paid out last year $4,000 for salaries and
regular expenses and 100000 for .sundry
expenses. Think of it, 8 per cent on
5000 for a fund that represents steal
ings, and vet we have tolerated this
thing for years.
But what about the Brighton bill?
( Will the governor sign 1t or veto ii? If
he approves it Will he do right or
wrong? Again, we can only rely on that
same unerring business instinct There
are arguments both for and against.
Most people have no opinion,
and they will be guided by
Governor shaw's judgment. If he
can free himself from the influence
of the insurance lobby on the one hand,
and from the fear of legislators on the
other. his Judgment Will be accepted By
many as conclusive. 1t seems as If the
weight OF the argument is against the
principle of the Brighton bill. IF pay
for $1,000 insurance on my building
Z ought / not TO recover $1,000 in case o.
loss?' The answer to this proposition
is no, not unless your loss is 81 900. Any
other contract is an immoral contract
To recognize the position above statee
4 is to take Insurance out of the domain
of legitimate business principles ant
make of it lottery.
The Brighton bill may or may not in.
crease the cost of insurance: that cut
but little figure. but it is Of the utmos
Importance that the morality of the con
tract be sustained.
Il is not true that premiums are pait
on excessive insurance to any considera
BILE extent. Rates are low and the prof
Its are small. ard If premiums are no7
paid on excessive insurance to that ex
But there is another matter that woult
add to the cost, and that is the in
creased cost incurred in securing
the risk. The ordinary insur.
ance solicitor is incompetent tt
determine the value Of build
q Ing. More than this, collision between
Il him and the insured is always possible
wen. let insurance companies emplo.
e better men" This is more easily SAT-
K than done. Reliable and. competent bus
iness men, faithful and competent law
yers can not be secured for such work
& Mercantile insurance is carried on by
L set OF men fully up to the average, bu
$tlls ordinary fire Insurance solicitor i
not usually up to the average, either il
ability or reliability. and 1t is probabl
that this branch OF the business will re
ri main In the hands Of this class. It ma,
or may not increase incendiarism, bu
"A that man y unfair who VIII say that tn
principle Of the valued policy law
dosI: not hold out Inducements to de