The Northern Daily Times.
Liverpool, Merseyside, England, 1853-12-03 00:00:00

offices which have been in existence since the sys-
mof life insurance was first attempted.

If we view the generally received hypothesis
as correct, the self-evident result must be that the
liabilities of the assurers must all fall upon the
office at the end of the maximum limit laid down
for the duration of life. This fact within the last
few years has been felt most seriously by some of
our oldest life insurance corporations, for whose
safety great alarm was felt in the public mind.
Their popularity, however, led to a continuance of
the influx of new lives, which enabled them to
meet their engagements, by applying their in-
creased incomes to the payment of their policies.
Here popularity assumes a sort of parliamentary
value, and hence the cause of that excessive
jealousy and alarm with which the antiquated
corporations view all new aspirants to popular
favour.

In calling for the interference of the legislature
on their behalf, we are no less amazed at their
folly, than we are at their effrontery. As a prelimi-
nary to raising any claim to protection from legiti-
mate rivalry, they will be required, however, to
prove the accuracy and justice of the sys-
tem on which they deal with the public.
Furthermore, they must show us some
unvarying principle by which the insured may be
secured against loss in cases where a large increased
mortality occurs, and at those periods when the
full amount of their liabilities fall due. The Legis-
lature will also be required to investigate rigidly
the scientific principles involved in the great pro-
blem of human life. To us it appears to be a
monstrous mistake, and an utter impracticability,
to deal with life to the advantage of the, insured,
by taking the simple arithmetical decrease in a
given number of lives.
The human family increases geometrically under
all conditions ; and if our system of insurance was
based upon the increase in population, there would
be an endlessly accruing circle of increased profit
to guarantee the safety of all concerned. That the
science of dealing with life is yet in its robes of in-
fancy, and that its whole operation is most hazardous
no one can pretend to deny. The public should
therefore look with the utmost jealousy at any
attempt that may be made to interfere with the
field of experiment and inquiry, in this most im-
portant branch of our social economy. There are
very many new companies who offer greater ad-
vantages to the public than many of the older
institutions, and the calling on parliament to close
the field of competition against a rivalry which
has already bestowed so many benefits on the
thoughtful and moral portions of the community
we trust will prove as vain as it is absurd.
The old school assurance offices, however, are all
powerful in both Houses of Parliament. Their Boards
of Directors are composed of Peers and M. P's, many
of who may be ill at ease as to the future. Those
companies who can boast of an octogenarian
existence are naturally more susceptible than their
younger and more vigourous off-shoots. The Regis-
trar General's report of births and deaths are
positively slaying the aged, while they are merely
deluding the young. From experience spread over
five or six generations, embracing almost every
variety of change of which human life is capable of
undergoing, the aged find they can go no further
in the way of reducing their rates of premium.
The more juvenile fancy that the Registrar Gene-
ral's bills of mortality, which extend over about
half a generation are sufficiently conclusive to jus-
tify a lower scale of charges. Here popularity
leaves one at a discount, whilst it raises the other
to a premium.
But how far will this scramble avail the public ?
Insurance, to be of advantage, should embrace all
ages and conditions. To do this, it must be based
on the principle which shows that despite all the
social and physical defects of the several classes
of the community that the increase of life is pro-
gressive: Those of our readers who have acquired
a knowledge of these subjects should at once devote
themselves to the application of the true economic
principle involved in this great moral and national
question. The errors that lie at the bottom of the
present system, must sooner or later show them-
selves when an irreparable injury will be done to the
cause of frugality, temperance, and morality.

THE editor of a liberal journal would require to
be as invincible and invulnerable as ACHILLES,
otherwise danger is likely to accrue from all the
shafts levelled against him. If we had made up
our mind to have pleased everybody, we should
have reason by this time to smile at our folly ; but
not having done so, why, we are fully prepared for
the occasional rebuffs, and direct animadversions
which our sentiments receive. We altogether omit
mentioning the amount of friendly suggestions
publicly tendered ; but were we 'to comply with
them all, we should be by this time in a pitiable
plight. We have not, however, forgotten the fable
of the " Man and his Ass," and the very excellent
moral which it inculcates.

Our correspondent, "J. 8.," writes us a long
and angry letter, which will be found in its proper
place, complaining of our leading article on the
late meeting, held in this town, for the Evangelisa-
tion of France. In his op'ening remarks he pays a
handsome tribute to our humble and disinterested
labours for the public welfare. He was " led to
hope that a star of no ordinary magnitude had ap-
peared in these northern latitudes, to throw a clear
and steady light over our commercial and poli-
tical horizon ; but these anticipations were des-
tined to a sudden and unexpected obscuration."

We really pity and feel for his severe disappoint-
ment, and would gladly help him, if we could, out
of the sea of gloom into which he has been
plunged. But as to how, or in what manner, our
observations on Mr. NOEL, and the Society which
he represented, could have either directly, or indi-
rectly effected our " Commercial" or " Political
horizon," fairly puzzles us to solve. We are per-
fectly " obscurated" on that point. But our sen-
sitive correspondent further compliments us by
characterising our reasoning as " flippant," and our
language as " intemperate" as he had rarely seen
excelled in any provincial paper. Of course, we
bow to his superior wisdom, and critical judgment,
which even his acknowledged " obscuration" does
not seem to have overcast. As to having breathed
a word derogatory to the character of Mr. NOEL we
entirely disavow the invidious accusation. We
censure no man for his conscientious opinions ;
but rather honour him for the moral heroism he
displays in embracing and avowing them. We
condemn no man for his intellectual errors, pro-
vided he does not make a public display of them;
and even when we feel ourselves obligated to speak
in accents of reproof, we are always cautious to
attack principles and not individuals ; who, doubt-
less, oftentimes are honestly intentioned, although
most mistakingly led.
We now come to what our correspondent calls
his " chief object," viz., to call our attention to
that portion of our article in. which we " denounce
all missionary efforts," on the plea that all our ex-
ertions are required at home. Surely the writer
must have been labouring, and severely, too, under
hallucination, as well as " obscuration," if he im-
plies that we denounced missionary efforts. Our
language was : "We maintain that our own country
has the first and justest claim upon our liberality