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Show AUSTRALIAN INSURANCE. Scheme by Which 8tate Provldei Cheap Protection to Settlers. CoiibuI General John P. Hray of Mel bournp reports ihat the government ol the Australian state or Victoria If about to undertake the experiment ol stato insurance In connection with the houses of settlers, which the government govern-ment has erected on a scheme by which repayments by jhe occupants are extended over long periods. ' It is estimated that the settlers will hare to pay the government for the state Insurance of the houses what is equal to an annual promlum of not much more than one-fourth per cent, upon tho vnluo, of-the property, whore-s whore-s if companies did tho, Insuring the men would according to departmental departmen-tal estimates havo to pay at the rate of between! one-half per cent, and one por cent. The government has already al-ready accepted tho responsibility for tho 260 houses which have either been erected or are being built. The houses aro wooden, and many of them are situated In localities where the fire fighting machinery Is not of tho most modern type. Tho companies offered t6 insure the places at premiums varying vary-ing from $2.65 to $4.25, allowing ten jer cent, discount. This would have cost the 250 settlers the price of about two houses a year. Tho government prosram provides for the building of 600 new houses within tho next two years. This will bring tho total number up to 750 houses. According to tho departmental departmen-tal estimates, If tho government were to accept tho Insuranco companies' terms It would cover tho cost of six houses a year In insuring this number. num-ber. The government hopes instead to charge the settlers less than would the companies, yet establish a substantial sub-stantial fund from Which to meet all losses. |