Excerpt from Seventh Annual Report of the Insurance Commissioners, of the Commonwealth of Massachusetts, Vol. 1: January 1, 1862; Marine and Fire Insurance It IS often argued that Insurance Companies should be taxed as well as Banks. The cases differ remarkably in this. The Banks have derived from the legislature, as corporations, the privilege of furnishing to some extent a paper currency beyond the amount of specie in idle reserve behind it, that is to say. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.