Second Annual Report of the Insurance Commissioner of the State of Maryland, to the Comptroller of the Treasury Department, December 1, 1873 (Classic Reprint)
Description:... Excerpt from Second Annual Report of the Insurance Commissioner of the State of Maryland, to the Comptroller of the Treasury Department, December 1, 1873 The confidence manifested lav all Insurance Con paniestransacting busi ness' in Maryland in the superior management of the Fire Department of Baltimore City, is well founded; yet but little protection could be given by that Department to some of the most important localities, and especially is this the case with the property of the State bordering on the harbor, as it would be almost an llllposslblllty to reach some of the State warehouses with the city fire engines; and to this end the Commissioner would suggest that it might be a proper and justifiable act on the part ofthe Legislature to appropriate from the funds derived from insurance com panics, a sufiieient sum to build and equip a fire boat, which, when com pleted, should be placed in charge of the City Fire Department. Any one familiar with the harbor of Baltimore City will, at a glance, see the advan tages to be derived from the use of such a boat, not only as a protection to the warehouse property of the State, but also to the vast quantity of ship ping engaged ih the commerce of'our fast growing metropolis. It mav be said that this is a matter in which the State is not interested, but when we consider the taxation imposed upon, and the revenue annually derived by the State from companies transacting the business of insurance, and that on the other hand the only protection these companies have in the State, is afforded by the eihcient Fire. Department of Baltimore City, which department receives none of the revenue derived from these companies, it places the matter in a different. Light. And is without doubt, a preper sul-jcet to be considered by the Legislature. From information derived from preper sources, the fact is established that such a boat, wiih the capacity for throwing five times the quantity of water thrown by any one of the city fire engines, would not exceed in cost, twenty thousand dollars. This sum, it is shown by the following table, would be but nine per cent of'the receipts from Fire and Marine insurance Com panics during the past ten years, and not quite fifty per cent of the revenue now annually derived from this source.
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