The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1905-04-19
The State. Should Insure.

and the savings by so doing are showing up
nicely. The result of the experiment clearly
proves the wisdom Of the law. But the law
also shows the narrowness of the position
taken by the State. If the State can or will
insure Its own property. namely: The State
and County public buildings. why should
not the government insure the life and the
property of its citizens?
1.-THE State under proper enactment would
insure the lives OF It's citizens as well as their
property, and put the profits into the treasury
for the payment OF current expenses OF the
govern ment the citizen might be relieved OF
all State taxes.
INSURANCE PREMIUMS.
On life S2SSs7
On Fire policies. 14,546
TOTAL S4S qoS
The vast amount, which ia paid out annual
ly, is very near ly total loss to the people.
It goes to enrich corporations in other States,
while II impoverishes our own citizens, and
prevents the normal material growth an d
progress of the country. Is 1t any wonder
then that our people are poor and that those
who live on our substance should grow rich
while constituting nothing toward the main-
tainance Of the government whose people
they are systematically skinning2
OUR TAX.
Now, let US look at the expense which our
paying to the government which should pro-
teot the people from poverty.
County taxes. ....... $12 365 48
State A,IoV 4s
School 49, 70
When we remember that only small per
cent of the vast sum which is paid for iusur
ance is ever returned to the policy holder, II
is readily to be seen that the saving to the
people would bs an enormous amh n
about equal to the tota! State taxes now paid
by all the people. The amount returned to
the Insurers by the insurance companies Is
scarcely appreciable. Nearly al the money
paid into these insuran CT associations is lost
forever 10 the people. It Is largely absorbed
by fees to the army of agents. and the reports
Of the abnormal growth OF the capital stock
of these Institutions Is proof ofthe enormous
waste of money expended by the people in
commissions to the great armies of agents,
the large amounts accumulated, aud the
small or inappreciable amount which is re.
turned TO the insured, account for the money
that goes out Of the country every year, bui
which might be kept al home and. d.uttlIz ID by
the Slate in paying current expenses OF the
government and in relieving the people from
The payment OF Slate taxes II q responsible
and practical cotton mill man were put In
possession of all the money which has been
paid in this State to life and fire, insurance
since the war, over and above the
money paid back TO the insured, be would
have enough ready money to inaugurate
cotton mill at every railroad station In the
State, and that: i'm mense sum is forever
cash.
The State in justice 10 its citizens assumes
In manner, to take supervision OF the per-
mits OF the companies 10 do business in the
State. How much better could this be done
by county officers. whose duty 1t should be
to issue policies and to take the premiums
for the same, instead collecting taxes.
Under this system, the County Treasurers,
instead OF collecting taxes from the people,
could collect the premiums on the insurance
policies. thus relieving the State OF the ex-
pense of treasurers and freeing ithe people
from taxation which is more or less bur-
densome.
Instead of the heavy drain on our resources
to send money TO distant cities, the people OF
the State would be benefited In the relief OF
paying taxes, and the money kept at home
would enrich our people.
Why should the insurance people be allow
ed to take from q portion Of our people for
insurance policies that are never paid
an amount rs great or greater than the cost
to the whole people of the State govern.
ment?