The Lake County times., 1907-01-10

tive Offices Of the state and of the
several state institutions, under ex-
ecutive direction. The salary ought
to be such as to command the services
of a competent accountant. Such a
law would have saved to the state
many thousands of dollars in the past
and will save to it many thousands
of dollars in the future. The recon-
mendations of the committee relating
to the auditing department of the Of
flee of auditor of state and the general
fiscal affairs of the state, contain
many thoughtful and timely sugges-
tions which I commend TO your con-
sideration with the hope that legisla-
tion may be enacted to meet the needs
suggested.
Separate Department for Insurance.
The need of a separate department
for the supervision of insurance is 50
apparent and of such urgent charac-
ter as to preclude debate or delay.
The department, as now organized, is
no more than neglected adjunct or
the auditors Office This office is
overwhelmed by the multitude of du-
ties and demands, infinite in nature
and variety, devolved upon it. The
legislature and not the auditor, how
ever, is to be criticized. With the
means now provided the auditor can
not make it other than it is-a neg
lected adjunct With a beggarly al
lowance Of $5,920 for the entire de-
partment, he is expected to admins
ter a department having supervision
of eighteen legal reserve life insur-
ance companies, sixteen assessment
life insurance companies, nine frater-
nal life insurance companies, seven
fire insurance companies and three
casualty companies, total OF hfty-
three, organized under the laws OF
and domiciled in Indiana and carrying
hundreds of millions Of dollars of in
surance To the supervision OF these
is to be added the supervision OF forty
nine legal reserve life insurance COM
panies, 125 fire insurance companies,
forty-one casualty companies, thirty
seven fraternal insurance companies
and nineteen assessment companies,
a total Of 271, organized under the
laws of other states and doing busi-
ness in the state of Indiana-a grand
total of 324. These 324 companies
last year collected in premiums from
the people of Indiana the sum of $685.
3,S1541. The securities entrusted
to the care of the department, under
| the law, have a face value of $685.,
900. They are subject to frequent
change and substitution. Their ac-
ceptance and care require skill and
| legal knowledge and unqualified in
| tegrity as we'll The fees collected
by this department for the year 1903
aggregated 6,553.21, and for this
year $72, $50. The insurance taxes col
lected for the year 1905 aggregated
/ $303, 1866. 1t is simply impossible
to secure effective administration OF
such a department with the allowance
made. The department is entitled to
stand, and, If properly organized will
stand, as a barrier between the peo-
pie and the horde of graveyard in
surance companies, funeral benefit so.
| cieties and various wild, visionary con-
! Germs and criminal speculative Organi-
cations that are continuously organ
| izing and storming the department for
| the privilege of duping the citizens of
| the state and preying upon credulity,
sorrows and misfortune Considera-
! tion of these facts lead inevitably to
| the conclusion that a law should be
enacted separating the insurance de-
| partment from the auditors Office and
creating an independent department
to take over the supervision of the
business Of insurance. The new de-
partment is absolutely essential to the
public welfare, and | sincerely trust
this recommendation will receive your
early approval The form of other
insurance legislation will necessarily
depend to some extent upon the crea-
ton of this department. and for that
reason whatever legislation you enact
providing tor it's establishment should
be among your first enac;ments
Railroad Commlssion-The act of
Of the Sixty-fourth General Assembly
creating state railroad commission
has more than justified its enactment
Some Of its provisions are imperfect
and others almost wholly inefficient
but the commission has been able to
render signal service to the people in
many cases, Notwithstanding the
weakness of the law under which
they have worked. The law should
be strengthened in many particulars
giving the commission additional pow
ers.
State Board of Tax Commissioners
The work coming before the state
board of tax commissioners has grown
so rapidly and has been added to SC
greatly that the amendment of the
law relating thereto has become an
imperative necessity. Last year this
board considered and assessed prop
erty of the aggregate value of 1924.
377. .446. Under the present law it has
but fifteen days in which to perform
70