POLICIES OF INSURANCE. 311 



Insurance, 



This is another ramification which may also 

 contribute to the interests of the company. The 

 want of means to effect insurance, is perhaps 

 one of the greatest evils to which the local 

 commerce of this country is exposed. There 

 are no establishments of this nature on the 

 west coast; and in small communities^ it is 

 difficult to find either the individuals or capital 

 requisite ; moreover^ large sums are shipped on 

 board a single vessel ; therefore the principle of 

 under-writing is lost; for a judicious under- 

 writer first seeks good risks^ and then has them 

 as widely divided as possible. This evil may 

 be partially remedied^ by having policies opened 

 to an extent sufficient to cover all property 

 which may be shipped on board the steamers ; 

 and any individual requiring insurance^ would 

 merely declare the amount to the agent, and 

 pay his premium. How far this plan could be 

 connected with the views of the company, is a 

 matter of question ; but even if it were under- 

 taken by a body of individuals, its influence 

 would be highly beneficial, as the facility of 

 effecting insurance would always be an incite- 

 ment to shippers to give the preference to 

 steamers. 



