No. XXXII.] APPENDIX. 359 



plan has been devised for detecting the most flagrant delinquents, and that 

 some gentlemen who have suffered from these frauds will speedily take 

 action in the matter. It is intended to move for a return of every marine 

 claim made upon every company in liquidation, stating the person who 

 brought the insurance to the office, the nature of the assurance, the sum 

 paid for the assurance, and the amount ultimately claimed. This 

 interesting little document will disclose the most frightful state of facts, 

 and will lead to the most vigorous legislation next session. 



(Signed) MARINE SHAREHOLDER. 



SIR, I am a loser by marine insurance, having made an investment 

 in a marine company now in liquidation. From inquiries I made I find that 

 the insurance of ships is not like any other business, carried on by the 

 directors personally, but devolves upon the underwriter entirely. The 

 underwriter becomes the sole responsible director, and settles what risks 

 are to be taken and at what price, and all the shareholders are absolutely 

 at his mercy ; for no matter how able or high-principled the directors may 

 be, they virtually have no power whatever in the matter. If I had known 

 this before, I never would have become a shareholder ; and I think your 

 paper would do good service if you would give the names of the under- 

 writers of every defunct company, as a warning to future investors. There 

 are strange reports afloat about underwriters and their doings of late. 



Manchester. (Signed) X. Z. 



SIR, I have been much upon the river Thames and had frequent 

 opportunities of conversing with the sailors. They say that frequently 

 when they are hired they find from the general cut of a ship that it is 

 intended to be lost. It is impossible to leave her, as by the law, if they do 

 not go, they would be liable to be sent to prison ; a matter which they 

 complain of as a very great hardship. Sometimes when a ship is doomed 

 to be lost, they find at the last moment that a sufficient assurance cannot 

 be effected upon her ; and then a telegram is sent to be very careful of the 

 ship, as she is not sufficiently insured. The sailors do not appear at all to 

 relish the risking of their lives for the owner of the ship to get the insurance 

 money, and they say that something ought to be done for their protection, 

 and that forthwith. 



(Signed) CRUISER. 



SIR, In the discussion which the ' Insurance Times ' has raised upon 

 marine insurance the question of property has alone at present been con- 

 sidered. Now I do not care one jot for the property question, but I have 

 a very decided opinion upon the sacrifice of life which the present destruc- 

 tion of ships produces. The sacrifice of the lives of our seamen is needless ; 

 and by the manner in which marine assurance is now practised, the loss 

 of a ship is too often a great benefit to the shipowner in a pecuniary sense, 

 although attended with a great loss of life to our brave sailors. Under any 

 circumstances, such strong legislative enactments should be provided as to 

 protect the lives of men who are too much at the mercy of the shipowners, 

 for all experience shows that those who profit by ship destruction care 

 nothing for the loss of human life. 



(Signed) YACHTSMAN. 



