The river press. [volume] (Fort Benton, Mont.) 1880-current, 1906-12-12
THE FIRE INSURANCE RATES.

THE FIRE INSURANCE RATES.
The Legislature of Montana will
OOn be in session, and one OF the
subjects that should receive their
earnest attention is the fire insurance
situation, says the Great Falls Trib-
une. A large proportion of the citi-
zens of Montana who pay for fire in.
surance policies find themselves held
up for an advance of % per cent. on
the rate which they formerly paid.
The Tribune is informed that the old
rate is the highest charged in any
portion of the United States and that
the business done in this state has
been, during a long term Of years,
most profitable to the fire insurance
companies doing business here. In
other sections Of the United States
where the business has been far less
profitable, a much smaller per cent.
of increase has been added to the for
mer rates since the San Francisco fire.
We cannot see any theory on which
so great a raise in rates could be
placed on Montana business men ex-
cept that the management of the COM
panies who have made it, think that
the business men will stand a bigger
raise than eastern business men would
stand without rebellion. When the
raise was first announced it was stated
that it was only temporary. 1t will
be temporary il it is made apparent
that the business men of Montana are
determined not to suffer such injustice.
Otherwise it will probably be perman.
ent. Here is a chance for some states
men elected to the coming legislature
to make a name for themselves and
earn the gratitude of their constituents.
Who is going to win these laurels::
The opportunity is both rare and 10.
viting for the champion of the BUSH
ness mems interests to distinguish
himself.
When the Legislators Of the New
Zealand assembly came to the con-
clusion that the fire insurance com
panies were charging too high rates
on the business risks in that state they
promptlysorganized a state insurance
company. which charged lower rates.
The fire insurance companies, like
Dave Crockett's coon. at once came
down in the rates TO meet the price
asked blythe state, and yet the gov
ernmentSinsurance company has pros
pered, and does an immense business
in thatScountry at a profit to the state.
We do mot assert that this the bes,
method to bring relief to the business
men of.Montana, and We realize tina,
a constitutional amendment might be
necessary 10 make 1t possible OF
practicable, but we do assert that it il
worth the while of the business men Of
the state and their representatives ir
the Legislature to give it serious con
s%ideratiou. Il We predict hat as soor
as the insurance companies realize
that they are in earnest about this
matter and determined to have relief
from excessive and unjust charges,
they will come down.
1t isn't any use proceeding on the
theory Of a mere bluff, however. II
rates arejnot made more satisfactory
than they are now the present legisla'
ture should take up the matter and
provide for the submission of a con.
st%itutiOnal amendment, if that be nee.
essary ,'that will permit the state to 20
into the business for itself just as the
New Zealand government does. With
the power at any time to check eXtOr.
tion by this:means al the command OF
the state we doubt If any % per cent
raise would ever have been attempted
Possibly there are other and quicker
methods of bringing the fire insurance
companies to a realizing sense OF the
determination of the business men OF
the state not to submit to the injustice
involved in that % per cent. raise, bu,
II would beiwise to keep the state in
%surance card in our hand anyway
whether 1t was necessary to use it o,
not. a searching investigation and
determined action by the Legislature
at the coming session il the only re-
lief that we can now see in sight TO,
the business man who pays insurance