The Sun.
London, England, 1863-01-09 00:00:00

The Right Hon. E. Cardwell, M.P., on the
Economy of the Industrial Classes.

OXFORD, THURSDAY.
Last night Mr. Cardirell was present, by invita-
tion, at the annual dinner of the Oxford Friendly
Institution, the object of which is to provide by
means of co-operation for the relief of its members
in distress, and for the support of their widows and
orphans.

The dinner took place at the Town-ball, and
about 200 persons were present. Alderman Sadler
occupied the chair, and was supported by the
Mayor, Mr. Cardwell, M.P., Capt. 13allam, the Hon.
Mr. Herbert, Sergeant Gaselee, Alderman Ward,
Alderman Browning, Mr. Walsh, Mr. Brunner, &c.
The health of the city members having been
drunk with great cordiality,
Mr. CARDWELL, who on rising was received with
loud cheers, after expressing his sense of the kind
manner in which he had been received, and the
pleasure it always gave him to visit his constituents
at Oxford, said—l accepted with great pleasure
the invitation which I received to be present
at this meeting to-day, because I believe that this
society, in conjunction with other associations of a
similar character, tends greatly to promote the
prosperity and increase the comforts of the people,
and in the hour of adversity to mitigate the sor-
rows of a large number of honest, industrious, and
frugal men. (Hear.) The principle upon which
associations of this character are formed is inde-
pendence, based upon frugality, and carried into
practical effect through the operation of the prin-
ciple of union. These qualities are the foundation
of every domestic and every social virtue, for no
man can expect to obtain the respect of others who
is not conscious that he is not able to respect him-
self; no man can respect himself who is not to some
degree independent of others I and nu man can long
remain independent of others who does not make a
prudent provision for those obligations which in
the course of events throughout his life may fall
upon him in discharging his duties both as an indi-
vidual and a citizen. You know that all wealth,
even the wealth that constitutes the pride and
power of this country, sprang originally from the
savings of honest and frugal men, which savings,
although small in their beginnings, are large and
important in their collective aggregate, just as the
rivets which fertilise the country and run into and
swell the great ocean which bears upon its bosom
the commerce of the world, are filled by those small
streams which we ourselves see trickling down the
hills of our respective neighbourhoods, and sa hich in
their beginnings are so small and so comparatively
insignificant. The great aggregate of the produce
of industry and the wealth which flows from it is
made up of the collective industry of individuals,
ad tending towards one grand result. No doubt,
in the beginning of life among the working classes
it is extremely difficult for any man to save, because
his income being small the narrowness of his re-
sources presses very severley on those taxes which he
has necessarily to impose upon it. A few years ago
we had not only that but other difficulties of a very
formidable character to contend with. The rich man,
it is true, who could make large investments, had a
comparatively easy means afforded to him of plac-
ing his money out to advantage, and of obtaining
an adequate return for it upon safe and sufficient
security. But no such means existed for the poor
man, whose savings, however large they might be
in the aggregate, were individually too small to deal
with in the ordinary way of investment, the result
of which was that they were too commonly frittered
away in idle pleasures or unprofitable enjoyments.
A distinguished writer, who took great pains to
trace the progress of this country towards wealth,
as well as in examining the drawbacks to the full
enjoyment of that wealth by the productive classes,
used to dwell very much on the vast amount of
what may be termed the self-imposed taxation of
the people, and he pointed out with great force and
ability the fact that millions of money appeared to
be expended every year on unproductive enjoy-
ments—frittered and wasted away, as it were,
which, if they had been judiciously invested by
those to whom they belonged, would have contri-
buted vastly to the permanent welfare of their
families, as well as to increase the general prospe-
rity, happiness, and comfort of the people at large.
It was not surprising that such should be the case,
and that the mass of the people should have ex-
pended their wages in such a manner, because,
as I told you, great difficulties were imposed
in a way of any humble man, who, from
his scanty savings, desired to make any
investment, by means of which the fruits
of his labour should be rendered available to him
at a time when he required them most, namely,
a time of dearth and scarcity. Those times, how-
ever, in the general advancement of the nation,
have been changed, and in the first place there has
been introduced by the Legislature a system of sav-
ings banks, which is now, as you know, the means
of aggregating many millions which the Govern-
ment invest for the benefit of the individual deposi-
tors. No doubt the sum deposited by each indivi-
dual member is small; they are, however, very ra-
pidly accumulated, and indeed sometimes as rapidly
withdrawn ; but the general result has been that an
enormous amount of money has remained with ex-
traordinary steadiness and absence of fluctuation in
the hands of the Commissioners for the Reduction
of the National Debt, to be invested for the benefit
of those to whom it belongs. Then, again, in the
times in which we live private enterprise and wis•
dom has not been wanting to contribute to the same
result. There are now numberless building societies
and other cooperative societies, whereby indivi-
duals, by making small periodical savings in the
shape of weekly or monthly payments, after a cer-
tain period of time, long or short, of course, in pro-
portion to the amount of their payments, are en-
abled to live in a house of their own if they choose,
or become landlords instead of always remaining
tenants. Again, by means of co-operative union
they can, if they prefer it, embark in some business,
or adopt other means for the purpose of obtaining
the reward of industry, integrity, and prudence.
About 8 or 10 years ago it became my duty to con-
sides this question in relation to a class of men who
at that time it was the fashion to believe were ne-
cessarily improvident and unthrifty far beyond any
other class of the community—l mean the seamen
of the United Kingdom. They were in the habit
of receiving large sums at the ports at which they
were paid off, and it frequently happened that the
money which they received as the reward of so
much toil or danger was wastes in dissipation,
and that a very small portion of it ever found its
way to their wives and families, in consequence
of which great hardship and suffering were im-
posed on them. This matter having attracted
the attention of the Government, we established
a system which afforded a ready mode of con-
veying the sums of money which the sailors received
on a vessel being paid off to the homes of their wives
and families. What has been the result ? Is it not
a surprising fact, as showing what may be effected
an extent
by the adoption of proper means to facilitate the
attempts attempts of those who feel inclined ttohelBaey
fbaye,ilitthiaets
assucthhus within the last 12 months after the new system had
come into operation whichi affordedoo,oot 0
whicht_.
.would otherwise
the sailors availed themselves of it
that no less a sum than X
trans-
mitted, a large portion of
extravagant dissipation. Such has
have been spent in extra
been the growth of thet system, and such the en-
couragement now given the investment of the in-
dependent and fruga. savings of the working classes
who are not able to partake in those large invest-
ments which are open
to their more fortunate fellow-
citizens. The object of the association, the anniver
sary of which we have met to celebrate to-night, is
one that attracts not less interest than any other
cc-operative association. It is to furnish resources
by the savings of the individuals who belong to it in
their hours of suffering or sickness, and which are an
aggravation of the pain of bereavement, for depend
upon it that poverty is a very great aggravation of 1
suffering at such a time considering the attendant
expenses which that very bereavement imposes upon
a family. These societies are based upon the principle
of mutual insurance, so that the father of a family
can take the opportunity, during a period of com-
parative ease, of laying bysomething which will alle-
viate his sufferings in a time of distress. These
resalto are brought about by a combination of union,