Horace Gray

“ The United States have not agreed to obtain insurance, or to become insurers themselves, but only to pay to the petitioners the 'cost of insurance,' which is as much as to say, 'reasonable premiums of insurance paid by the petitioners.' By the terms of the contract the United States are no more bound to pay for insurance which has not been effected, than for tools or materials which have not been used, or for labor which has not been performed. ”

“ A vessel laden with granite cut and dressed under this contract was sunk at sea by collision, and her cargo was raised by wreckers employed by the master, and was taken to Baltimore in another vessel. ”