The French Broad hustler. [volume] (Hendersonville, N.C.) 1896-1912, 1911-01-12

"
"A law that depends upon a pri- I
waite citizen getting up the evil
dence is on its face an ineffective
law for IN a contest to destroy
the trust exactions, there Is no
hope of success outside of vigor-
Gus prosecution with the whole DO |
Wer of the State behind the prese-
cutions. Unless we are ready to |
go into this matter heart and soul
backed by the resource and power
of the State, determinations against
trusts and mild statutes and weak |
penalties like those In our present |
law are merely playing with the
biggest problem of the twentieth
century Is the Trust too big for
the Government If, SO, Govern
ment is a failure. Is the Gov
eminent strong enough to end
monopolyG We believe aye we
know it is if its lawmakers and
executives are ready to 90 the
necessary length to protect com
petition and reopen the doors of
opportunity closed by the trusts.
The danger of water-poWer
trust, with a possible cotton mill
trust, is iminent. Two years ago
Senator Ormond, of Lenoir, and
Senator Lockhart, of Arson. fore
seeing this monopoly of a gift of
nature suggested needed legisIa
ton, but nothing was done. The
Governor wisely takes notice of
the new power and suggests that
all water and light plants and all
persons or corporations selling
power or heat or light be placed
under the Corporation Commits
sion and that the Corporation Com
mission be given the same powers
and duties in regard to them and
their rates and prices that the Cor
lporation Commission has In regard
to railroads. The Governor saws
1t is doubtful whether State
should ever dispose of the ma
tural powers of its streams for
private benefit or profit. " 1t is
| pity that the State had not al
ways retained such ownership
and control.
| The discussion of the subject Of
insurance is strong and forcible.
North Carolina pays annually
eight million dollars in insurance
premiums, and this big interest
makes legal control necessary for
the protection Of the insured. The
Governor says that competition in
life insurance fixes the rates fairly.
Perhaps so, perhaps not. Life in
surance companies, In our Judge
ment, charge too high premiums,
but they are not In trust to fix
prices. The Governor discusses, at
length the fire insurance condi-
tons and charges, arriving at the
conclusion that the statements are
proof of excessive cost of fire in
surance. In the last ten years the
| fire insurance premiums paid
amount to $21 ,154 1863. The losses
paid are $10,653, $40. This leaves
a balance of So, 000,35 after pay
ing agents commissions, taxes, and
other expenses. The Governor
makes these Recommendations: l..
| To prohibit any compact or trust
Engagement to destroy competition !;
i q That no company be permitted
4 to do business IN this State until
lit has filed written agreement
! that it will not charge insurers In
this State a higher rate or subject
| them to more burdensome condi-
tons than it does elsewhere,
where the risk assumed is practi-
cally the same. 3 That the coin
urance clause be optional with the
applicant for insurance. f. A re-
commendation as to valued policy
clauses. 5. That no company be
! permitted to do business In this
State until it files a general sche-
, dule or tariff of rates of regula-
tionS in this State and In other
states, this being to guarantee
J equal rights to policy holders in
North Carolina to those granted
in other States. g.. To revoke the
license of any company that is I'M
fair or prejudicial. We are not
familiar enough with all these re-
, commentators to comment on all,
/ but they deserve careful consid-
Grafton. The trust that fixes rates
on fire insurance is contrary to
! law and justice, and should be end
ed, and the Governor is doing a
public service in calling attention
i to this evil. Other States enjoy
. better rates than North Caroina