The Alabama Claims

Cover The Alabama Claims
The Alabama Claims
T L Thomas Lanier Clingman
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This large amount of property was in part kept afloat by a marine insurance company. Without such aid a large number of ships would probably have remained idle in port, or been transferred to a foreign flag, because owners would not have risked their loss, though they were willing to pay something to a corporation that would become responsible in case they were captured.
It has been proclaimed in debate, however, as a reason for excluding insurance companies, that one of them might receive out
...of the award more than a million and a half of dollars. If so, however, it can only obtain a large sum by showing that it has paid out a similar amount. It has never been pretended that a banking corporation, or an individual who advanced a large sura of money, was not entitled to have it returned, on the same principles as one who lent a small sum. If this corporation is entitled to receive a large amount, it must be remembered that it has a great numljer of shareholders, and that it has done a 15 large business, and paid ont a great sum of money to those whose ships were destroyed.

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