The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1913-08-19

address OF Alex. J. Field. of the
state Journal, before the North Caro-
lima Municipal Association. at Wrights-
Vile Beach, August IA
The Importance of this subject can
not be overestimated Fire insurance
IL q business necessity, and the pay
ments eXacted from the people of his
State for this necessity amount to
about SO, 800 900 a year, "A sun aboJt
equal to the entire revenue of the
State from all sources for all purposes.
The importance If the subject will
be understood when it il remembered
that the State has been having an an
nual deficit because the representa-
tives OF the people have been nW.lI-
ing to increase the buTuen or taxes
gust a little, while the tire Insurance
rates have been and are now beng
greatly increased withou' n poWe!
lodged anywhere, below the General
Assembly, to limit or regulate them.
These rates are arbitrarily fixed and
controlled by a combination OF fire
Insurance interests, and without some
further legislative action. the people
are poweriess and must pay the rates
demanded OF go without protection
This question is certainly next in i'm
portance to that of freight rates out
its consideration SHOULD not be post
poled until just freight rates arr Sc
cured because there is this difference
between them: Final jurisdiction IN
the matter of interstate freight rates
lies with the Federal government,
aud there may be delay in securing
their just regulation. while fire in
surance rates are exclusively under
the jurisdiction of the State and can
be regulated at any session Of the
General Assembly.
Rates Too High.
North Carolina cities and towns
n the Whole State as well, should
get lower rates, because the present
rates are far too high. Now If you
are going to accept as final the die
tun, CT those who profit by high ra;es,
it is useless to discuss the matter;
bat if. as intelligent and patriotic rer
rescntatives OF the people, you wish
to know the whole truth. your inves-
legations will reveal "A most unjust
and astonishing condition of affairs
The present rates are too high
First. because for a period Of over
thirty years the companies have col
leCted from the people Of this State
nearly $500 for every $1.OO returned
to them in losses, which is more thar
il necessary to the bushes:
with safety and profit.
Second, because, notwithstanding
the high rates formerly charged anc
the enormous salaries, unreasonable
CNItilscS anu tNCcsoiNt DIO1tS ytclutt
b. these rates. :he companies hav
recently increased and are now IN
oleasing the rates enormously. no
only when there has been no inCrea5
of risk. but when the danger iron
fire has been greatly diminished.
Third. because the people Of thi
State are grossly discriminate
against, not only in the rates charg
ed, but in the rules and regulation
pnypYnino tho h1lSinoCS The rates i
this State are, in some instance:
more than 800 per cen higher tina
the same companies charge in som
other places for insuring against eS
actly the same amount of lire hazart
III other places the companies agre
with the insurer as to the alu of h
building at the time the policy
written, and then settle on that bas
in case OF loss. so that he knows h
H. not paying for more than he ca
ecover. With US a man may pay II
years on a valuation which may
disputed as soon as the building
destroyed. In some other STATE
they do not require what is terme
"cO~-insuranCe." which is an artful
concealed means of increasing tt
cost IF insurance or forcing a man
pay for what he does not want
need. In other sections of the coul
try property is rated the san
whether occupied by the owner or
tenant, and this was the case
this State until recently: but now
extra charge is made or account
occupancy by tenant.
In the Grip OF a Trust.
Fourth. because the rates are a
bitrariiy fixed by a combination
men who profit by high rates.
sufficient number of companies ha
entered into a trust agreement
dominate and control the busine:
and the people are poWerless in tht
grasp. until il is broker by legislati
action. No men ever lived who we
good enough to arbitrarily fix I
price of "a business necessity, suppl
by them. with fairness and justice
the public. IL these gentlemen c
with justice to the public fix the pri
OF insurance and raise it at will. W
cannot railroad men give us j,
freight rates? Why cannot the
bacco trust fix a fair price for tobac,
and the oil monopoly a fair price
oilr
II is impossible. in the short ii,