Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1904-02-06

all buildings let by them costing over
$4,000. provided the contractor gives
them indemnity bond in some good sure
ty company. This would enable our
own contractors OF limited means to bid
on all such buildings. increase competi
ton and thereby cheaper the contract
to the county and keep the money at
home. l voted for this bill aud | am
glad to say after a hard fight. it passed
the house.
think the bill exempting money
loaned at 6 per cent from taxation will
certainly become a law. for both lenders
and borrowers seem to favor the bill. 1t
has been introduced at nearly every SEES
sion Of the legislature since 1875, but
until lately the money lenders opposed
it. But now, If loans are recorded the
money will not net them Q per cent 4
loaned a. s per cent. for the tax is over
2 per cent. The state will not lose much
by the loss Of this tax. but will really
be benefited. / belieye this Is all the
legislation that ought to be enacted in
regard to interest on money. There is
some talk of trying to have law enacted
reducing the contract price 10 s per
cent. but the supply and demand will
regulate this.
The most important bill, iu my opin
ion, that we will have to deal with is
the Insurance bill. Our committee is
almost unanimous in favor Of repeating
the valued policy law as regards perso-
nal property, but to keep it in force as
to real estate. Mr.. Cole has made
some good arguments in favor of our
adopting the North Carolina law, which
would repeal the valued policy law al.
together, and which has clause rome.
dying the defect Of the old law of having
an Adjustor to appraise the loss. Then,
of course. If they cannot agree it goes to
the courts. | am satisfied that we
would aye the people Of the State at
least $500, 900. as there are cver SO, QUO, .
900 paid each year for fire insurance
premium alone, but our committee
takes the ground that the people gener.
ally would prefer 10 pay a little more
and have this law stand as to realty, and
and know that they were to get every
dollar on every house burned. even If it
does cost more. We told Mr.. Cole we
would repeal it as to personally and
amend the anti trust law so as to ex
empt insurance companies from the
provision Of this measure, thereby en-
abling the Southeastern Tariff associa-
ton to again enter the State and enable
the companies to issue the ''blanket
policies for cotton. and try this for
two years, and when we meet again and
found this brought the promised reduc.
ton in rates and satisfied the people, We
might consider the other proposed
amendments.
Mr.. Brooks has introduced a bill pro.
viding a penalty for the non payment
Of claims after sixty days by all insur-
ance companies, and Mr.. Patty has
offered amendment to Coles bill carry
ing about the same provisions, and
some such measure will be adopted. and
think 1t is necessary to make us a good
law on insurance.
Tell j, X. that the boys did not vote
on the question whether they wanted
the Panama Canal or not; this was not
the question, The question was as to
the advisability of our instructing our
United States Senators what to do. We
all thought they knew their own bus
mess and needed no advice from us and
it seems that they have acted on this
idea, for see they are going to abide
by the action Of the Democratic eau.
Gus. Good bye. More-anon.
"BIG BUD.'
P. S. We passed some amendments to
the primary election law today. eliminat.
ing the electoral feature and providing
for a county convention to elect dele
gates to the state convention. An
amendment wasloffered providing that
''single shot, votes should not be
counted and it actually passed the
house, but a member (Mr. Tolbert) If.
fered an amendment to this amendment
providing that the people of Mississippi
should not vote as they please and this
carried and of course had the effect to
kill the entire amendment, for when q
motion was made to table the amend.
ment AS amended nearly all voted for it,
Including Yours,
BIG BUD.
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