INSURANCE OF FISHING-BOATS. 121 



but inasmuch as in my opinion they are self-evident pro- 

 positions, it would be simply a waste of time to enforce 

 their truthfulness at greater length. One suggestion, how- 

 ever, I would make to the powers that be, and that is as to 

 the advisability of their insuring say to the extent of 100 

 the life of every fisherman who belongs to the Royal 

 Naval Reserve. The Government of the day could do this 

 at but a trifling cost to the country, and in my opinion it 

 would be % a very great inducement to fishermen to enrol 

 themselves in this most useful and patriotic corps. 



INSURANCE OF FISHING-BOATS AND THEIR STORES. 



The best system of insuring fishing-boats and their stores 

 that is, their masts, sails, rigging, and all other things 

 necessary for their navigation from damage by fire, wind, 

 or water, either at sea or in harbour, is that which is known 

 as " Mutual Marine Insurance." It is the best system, 

 because it is the cheapest and the safest, and because, as I 

 shall presently show, it secures to boat-owners advantages 

 and privileges which no other system of underwriting can 

 pretend to offer them. Mutual Marine Insurance, as its 

 name implies, means nothing more nor less than that boat- 

 owners should insure each other's vessels upon the principle 

 of co-operation, and should thus reap all the profits of the 

 underwriters, as well as the advantages of the insurance 

 itself. It is the cheapest system, because the statistics of 

 Mutual Insurance Societies prove that, even in exception- 

 ally-disastrous years, the rate of insurance of fishing vessels 

 at Lloyds is considerably more than is required for the 

 repair of all losses ; and that it is the safest system the 

 slightest reflection will show, because the boat-owner has 

 the guarantee for his insurance, not of a mere name which 



