134 INSURANCE OF FISHING-BOATS. 



both trawlers and drift-fishing vessels upon equitable terms 

 advantages which can be obtained from no other under- 

 writers, be they irresponsible individuals, private adventure 

 associations, or incorporated companies. 



Stamped Policies. It appears to me, then, that the " best 

 system of insuring fishing-boats " is that of the Company 

 whose principles I advocate, because, being co-operative in 

 its character, the Company not only gives special advantages 

 to its shareholders, but at the same time it divides all its 

 profits, both direct and indirect, amongst them. This 

 company is no myth. For years it has been worked, upon 

 the principles which are here enunciated, to the satisfaction 

 of all concerned, and, in consequence, it has been steadily 

 growing in repute and strength. It has but one drawback 

 a drawback which the Government could easily and 

 ought readily to remedy the necessity to issue new 

 policies every year. In all classes of insurance other than 

 marine life, fire, and accident policies hold good so long 

 as the contract between the parties lasts ; and what is right 

 for life, fire, and accident, ought certainly to be right for 

 fishing-boats. I trust that Edward Birkbeck, Esq., the 

 fisherman's friend, or some other M.P., will take this matter 

 up at once, and that in a short time there will be no 

 necessity for the yearly renewal of marine policies on 

 fishing-boats. To the Chancellor of the Exchequer the 

 revenue from the sale of stamps for the insuring of fishing- 

 boats must be a matter of utter indifference, but to Mutual 

 Marine Associations the subject is one of some importance, 

 as, besides the stamps, which are practically so much 

 money wasted, the non-necessity for yearly policies would 

 save a vast amount of unnecessary labour and trouble. 



