Wairarapa Daily Times [Established Quarter of a Century.] MONDAY, JANUARY 20, 1902. STATE FIRE INSURANCE.

Wairarapa Daily Times, Volume XXVI, Issue 7060, 20 January 1902, Page 2

Wairarapa Daily Times [Established Quarter of a Century.] MONDAY, JANUARY 20, 1902. STATE FIRE INSURANCE.

No wonder the Masterton Chamber of Commerce decided to retain an open mind on the question of State Fire Insurance, when one member of th.'it body declared that losses exceeded premiums, and another intimated that premiums were largely in excess of losses. Wo question whether State Fire Insurance can, at the present time, be considered within the domain of practical politics. The burnt child dreads the candle, and in the same way the Government just now fears tho London money market. It cannot go into cither the fire insurance or coal business without money, and as far as wo can judge it now wants all its breath to cool its own proper porridge.

The only thing that can be done at the present time is to secure reliable information. When that is obtained it may be worth while considering whether State intervention is expedient. If the State obtains a sound actuarial opinion proving that it could conduct (iro insurance more effeciently and economically than private companies, the State would have a ease. Can the State pledge itself to a substantial reduction of premiums ? ,If it cannot it had better leave lire insurance alone. All State ventures arc not successes—the co-operative labour system is a rank failure, increasing the cost of public works throughout the Colony. Time will try other State ventures, such as Old Age Pensions, and will probably prove them to be errors of judgment. The day has now arrived when the State is no longer able to float wild cat enterprises out of borrowed millions. We question the wisdom of State Fire Insurance, bin arc quite easy in our minds about it, for the Government have now no money to start it with.