The Sun.
London, England, 1838-05-31 00:00:00

other questions, we believe there are very few
among them indifferent to the wants of the poor,
when it is possible to provide for them without
adding to the already oppressive burdens of those
moving in the middle sphere of life. We have
therefore, just grounds for calculating upon their
zealous co-operation, if we can only prevail upon them
to take the subject into their consideration. In so
good a cause we shall not be easily discouraged. Our
own honest impression is, that we are presenting them
with a moral lever by which they may elevate the
character, and improve the condition of every poor
but industrious family in the country.
Since the above was written we have learned that
several influential Benefit Clubs have intimated their
desire to join the National Loan Fund Life Assurance
Society. We have further learned that this so desirable
a junction can be effected by correspondence with the
Society, without prejudice, either to the existence, or
the established convivial meetings of the Benefit
Clubs—so necessary to the healthy recreation of the
workmen, and to the watching over the interests of
their respective trades. This is all that the best
friends of the working classes can reasonably desire.
For ourselves we should be sorry to interfere with
their convivial or other meetings for the necessary re-
laxation of time mind, and the comfort of the body,
after a week of severe toil. A moment's reflection in-
deed, will convince them that there is no necessary
connection between the subscribing to a Provident
Fund, and the meeting as a body, either to recreate
themselves in a rational way, or to deliberate
upon the ever fluctuating relations between the
demand for, and the price of, labour. By all
means let then?' meet as often as they may think
convenient, for the purposes of business or pleasure,
provided they take care to lay up a sure and independent
fund to supply the necessities of old age. This cannot
be so well effected by means of a Benefit Club, because
such Clubs only provide against two, out of the whole
list of human possible calamities. If we ask any sen-
sible • cabinet-maker, for instance, what advantage
would he gain from a Benefit Club to which he had sub-
scribed for twenty years, in the event of his changing his
location, so as to render it impossible for him to keep
up his weekly or monthly contribution to the Club,
his answer must ebe " nothing." How different
would be the answer he would make to us, had
he been so long a subscriber to the National
Loan Fund Society, to the amount of only two shil-
lings or half-a-crown weekly ? What we then wish
the working classes to do, is to distinguish between the
new institution and Clubs for convivial and business pur-
poses. They flave, in fact, no necessary connection what-
ever ; and whoever seeks to confound them, is not the
working man's friend. Now, in advocating the claims
of the National Loan Fund Society to the earnest
attention of the middle and working classes—and above
all, the latter, because the most helpless—we seek no
other merit than that of desiring, above all things, to
promote their moral and pecuniary welfare.

NATIONAL LOAN FUND LIFE AS
SURANCE SOCIETY.

(From the Berkshire Chronicle.)
A public meeting was held in the Council Chamber, Townhall, Read-
ng, on Tuesday, the 15th instant, to consider the propriety of introduc-
ng this Society to the County, under the sanction of a Lccal Board of
Direction. The plan of this Institution was formed by T. Laurie Mur-
ray, Esq., and is admitted to be one of the most comprehensive and safe
ever produced.
We noticed the attendance of several of the Clergy and Gentry, and
many of the principal tradesmen of the town, with a tolerable sprinkling
of mechanics.
The Mavoa (It. Billing, Esq.) took the Chair, and addressed the
meeting. Recommenced by explaining the objects this Society had in
view—one of these objects was to afford an opportunity to persons of the
middle classes of life—to tradespeople, labourers, and mechanics—in
short, to individuals in every station—to make provision for themselves
and their families, on principles which were more advantageous in many
points of view than those of other Societies, many of which were not ac..
cessible to individuals in the humbler walks of ltfe.—(Hear, hear.) It
was only a few days ago, continued the speaker, that my attention was
first called to the subject, since which time I have examined the
statements and calculations which are submitted to the public by this
Company ; and it is from an examination of these tables, and from con-
versation with the gentlemen who arc set clown to organize the Society
here, that I have a perfect conviction that this is a Company of the
highest importance, not only to individuals but also to the nation at
large. I therefore most willingly lend my aid to the furtherance of
these desirable objects; but as there are gentlemen present more inti-
mately acquainted with the Society than I am, and who will fully ex-
plain its objects to the meeting, I will not longer trespass on your time;
but before I sit down I must state that I have received a letter from theßev.
M. Maurice, agentlerran whose extensive acquaintance with the subject is
well known. The letter spoke in the highest terms of the Company,
and as one calculated to benefit especially the middling classes and
tradesmen with small capital ; and expressed a hope that the benefits of
such a Society would he universally extended. The Mayor then said
he should call on Mr. Hampton, a gentleman connected with the So-
ciety, to state the views and objects for which it was formed.
Mr. I. W. HasereroN then rose and addressed the meeting. He said
that however elevated the position of an individual, the opportunity of
addressing an assemblage of his countrymen must be always regarded by
him as one of the highest honours and gratifications he could receive,
and therefore that honour and gratification must be greatly increased
when, in being permitted this privilege, an humble person found himself
surrounded by the most respectable, influential, and intelligent gentle-
men of the community. He then proceeded as follows :—By the invi-
tation of your Honourable Chairman, and with your permission, I will
now proceed to lay before you the principles and objects of the National
Loan Fund Life Assurance Society, which we have met this day to hear
unfolded ; and whilst I endeavour to point out its important features,
the grand results to accrue from its establishment to all Classes of persons,
but particularly as tending to elevate and knit together in/closer bonds of
social and moral union, the labouring portion of the population, I shall
do my best to merit your indulgent and patient hearing, by rendering
my exposition_ of its principles as brief as a clear elucidation
of the subject will permit. The science of life assurance is compara-
tive'y of modern date, yet, nevertheless, in the course of a few years it
has progressed so rapidly in public opinion, that every thinking pct son is
convinced of its imprrtance and necessity in mitigating the evils arising
out of the individual uncertainty of human life. Like all sciences and
new inventions, however, it is susceptible of great improvement, both
as regards the advantage to accrue to a society. as well as to the people at
large, by greater and more general suppot t. The true application of its
prirciples for the purpose of ex teneliag its benefits over every class in the
country has never yet been attempted : this is clearly proved by the
small amount of persons insured in proportion to the population. The
population of England and Wales is about 14 millions, and the number
of persons insured supposed to be nut more than SO,OOO, and this fact,
coupled with the admission by all parties of the importance of life as-
surances, must create surprise in those who are unacquainted with the
cause; but the truth is, hitherto life assurance has been made available
only to the rich, whilst the man of limited income has had its doors closed
against him by the risks of loss and forfeiture, which the inability to
pay up one premium would expose him to, and thus, a:though the ad-
, vantages are chiefly in favour of the Companies established, they have
defeated their own object, viz., a large amount of business, by the num-
ber of policies upon which they each accumulate capital. If all the
policies were divided among the existing offices it would give to each
shout 1,500. The Equitable has acquired a capital of nearly eleven
millions sterling, whilst its total number of policies has never exceeded
7,000 ; the larger offices are all extremely rich with an average of no
more than 1,000 each, and one or two are doing extremely well with
only 300 or 400, Had this not been the case, the principles of assur-
ance would have provided for every contingency of human life, and the
endeavours of benevolent individuals to provide the meat s of saving and
accumulation to the humbler classes by the formation of Savings Banks,
and by those classes themselves, by Benefit Societies for their mutual
support and protection, would perhaps never have been attempted. I
shall however, I think, be able to show that both the above institutions
fulfil but in an imperfect degree the objects intended, and are incom-
mensurate with the good that might be effected by a better application of
the same means. It is well known that outlets for the employment and
rapid accumulation of large capital are various, but the possessor of five
or ten pounds finds his substance constantly frittered away by want of
the same means. The Savings Banks fulfil in some degree the above
want, and have been of incalculable benefit in a moral point of view in
particular, but nevertheless Savings Eanks are surrounded by restric-
thins, wise no doubt, but thereby rendering ultimateprotection at periods
of misfortune or old age infinitely less than would at first be sul posed.
A Depositor is limited to 30/. in any one year, exclusive cf compound
Interest, to 1501., with accumulations, at any period of life, which on
amounting to that suns ceases to receive interest, and is furthermore
bound to make a declaration that he possesses no other funds in any Sav-
ing Bank whatsoever. Now to a man of olvanced age, sick or infirm pos-
sessing a wife or children, and past the period of productive employment,
2001. will not purchase an annuity equivalent to his wants, which at a
later period of life are always greater than in early youth ; be-
sides it has become a question whether Savings Banks can con-
tinue much longer to be allowed to increase at their present rate. Since
their first establishment in 1810 they have increased so rapidly, that
there is said to be one in every district of fifteen miles, and their accu.
mulations by the last returns twenty millions and a Judi; increasing in
the present ratio, in the course of fifteen years these accumulations will
exceed 100 millions ; and, looking further, there is no saying where
these enormous accumulations might end, as the amounts arc returnable
at three weeks' notice, and would exceed five or tenfold the whole value
of bullion in the country; a sudden withdrawal of funds might occasion
great inconvenience. I beg, however, In making the foregoing remarks
most distinctly to be understood as not wishing in the remotest degree
to reflect on those admirable institutions; the good they have effected is
incalculable, and ought, and I am sure will, continue to receive the
fullest popular support, until the Legislature thinks proper, at a
future perio I, to circumscribe their limits. At the present mo-

meat Savings Banks, by the combined influence of cur Society,

will become doubly useful, by allowing a depositor, when hi;

accumulations have reached a certain -amount, to apply those

savings without risk, for the purpose of bringing in larger re-
turns than compound interest can give him, and which I will

presently show. On the other hand, Benefit or Friendly Societies are
objectionable two ways; in the first place, as tending to diminish the

objects for which they are established—viz. provision during sickness, or
. . _

an annuity in old age—by the constant waste of money their meetings
lead to, so that portions of the sums which would otherwise go into the
aeposit fund are spent in drink. lam able to state, on the authority of
Mr. Ansell, the talented Actuary of the Atlas Office, that " he sup-
poses that there are no fewer than 1,000,000 persons in the kingdom
members of Friendly Societies, and probably each person does nut on an
average spend less than ss. per annum at the monthly meetings and
yearly feasts. The annual expenditure, for what is in many cases a
worse than useless purpose, will therefore not fall short of 250,000/. ;
and to show you to what an extent this evil is carried, I will take leave
to read a striking instance of a fact which came to the same gentle-
man's knowledge ; he says—" An instance has come to the author's
knowledge which exemplifies in a very forcible manner the evils
here spoken of. It is that of a Society in which each member
had to contribute four-pence fur spending money on every monthly
night of meeting, whether he be present or absent ; and the
aggregateof the spending money is always drunk out by those who may
chance to attend. The Society alluded to consists of 9.50 members, and
the spending money is therefore 4/. gs. 4d. per month, At the meeting

in July, 1830, 26 members only were present, so that each had to con-
sume drink costing 3s. 21•td. After a large quantity of beer had been
consumed, ardent spirits were drusek, and ultimately beer was thrown
out at the windows, because the whole of the money was to be expended
for the good of the houze. Such a case needs no comment ; but it may
be stated that some of the members whose fourpences were tlken from
the fund and expended, might, in fact, leave the Society, and
never pay their contributions—in all such cases the Society would there.
fore lose the fourpences spent." On the other hand, Benefit Societies
are defective in principle, leas nuch as a large portion of the deposit
(nearly one.half) is set aside to provide for a contingency which is a
limited portion of human life—thus reducing the annuity of the depo.
sitor in a considerable degree. I allude to sickness. I hold in my
hand a paper which on the experience cf several societies over a
i• very extensive range of lee, for a period of 45 yeas, between the ages
of 20 and 65, show such a small a cunt of sickness that providing for
that contingency is even more defective than it had at first been sup.
posed. The experience of the Highland Society of Scotland, deduced
from 79 Benefit Societies, extending over a period of 70 years, from
1750 to 1821, upon a population ansoenting to 104,218, gives the
average sickness of each for 45 years as being 16 mese ths and 4 days, or
average yearly sickness 11 days. The returns of the East India Com.
palsy's labourers show an average yearly sickness of only 6 days. The
Factory Commissions rs, in their calculations upon persons employed in
cotton wo )1, bath in Yorkshire and the west of England, flax, silk, and
in the potteries, show the yearly sickness of each person to be 71 days;
and the Society for the Diffusion of Usefal knowledge, from returns
taken from Benefit Societies, upon a population of 24,323, give an ave-
rage of 14 days. " Thus it appears that the hi hest expectation of sick_
ness among males is 12 to days, and the lowest 6 days in each year from
the age of 20 to 65; its mean duration, inclusive of accidents of
all kinds, would be 9,1- days, during which from these causes an indite_
dual may expect to be abstracted from proeuctive employment its each
year throughout a period of 45 years; while it may be observed, his
religious observance of the Sabbath, in which he shall do no work, has
diminished his productiveness by its recurrence in the same period six
years and 156 days." It fellows, therefore, that to provide for the
above contingency by abstracting a portion of the deposit is most de.
fective; it makes the healthy man pay for the support of the sick,
when in Isis particular circumstances of lire the tvhok of his deposits
ought to have been made available for his own use; and I believe it
has constantly occurred that an individual has been paying all the dues
of a Benefit Society for thirty and forty years without getting anything
in return ; as a further proof how defective this principle is, and to
what an extent the earnings of the healthy and industrious go towards
the support of the sick and the indolent, it has been ascertained that
sickness in Benefit Societies is double that which is shown
by the experience of the East India Company's labourers and the
Factory Commissioners, and which can only be accounted for by
the facility with which sickness csn be feigned, it is therefore clear that
if half the amount set asi-legoes for the support of those who are really
sick, the other is most certainly wasted upon those practising the grossest
frauds upon their associates. The National Loan Fund Life Assurance
Society fulfils all and each of the objects and contingencies of human
life by a better application of the same means in a manner which I may
call the economy of capital ; a Savings Bank fulfils one object, a Benefit
Society another, a Lean Society a third; but with the National Loan
Fund Assurance, an individual may secure to himself each or al! of
these advantages, and at any period of life lie may choose, take Isis op-
tion. In order to make the benefits of life assurance, therefore, extend
to all class: s, to the respectable tradesman of limited incur: e, and to
the poorer artizan and la:sourer, we have introduced in our plates of life
assurance two privileges, which, while it offers greater security and
profit to the Society, by the certainty of the most unbounded popu-
lar support, relieve the assured and the depositor from the constant
fear of loss or forfeiture to which those possessed of no certain income
have hitherto been exposed. These advantages we secure, in the first
place, as set forth by our Prospectus, by returning two-thirds of a mail's
payments to his relatives at his death in the event of forfeiture,
with any bonus there may been assigned to his policy dur-
ing the continuance of his payments; and, secondly, in the event
of temporary misfortune, giving him the liberty to borrow to the same
amount. Thus the advantages are two fold, securing to a man that
peace of mind which the constant fear of forfeiture by inability to keep
up his policy must constantly disturb, in addition to the mortification of
having spent his money in vain ; but also that assistance during misfor-
tune which he would seek uselessly from any ether office, and which
prompt relief would in most cases prevent. Let us now look at it in
another light. It is supposed that the amount of money tied up in In-
surance Companies varies from 60 to 120 millions ; now this is com-
paratively a dead lock for the purposes of productiveness. Only sup-
pose that the whole, or a portion of this amount could be distributed
over the country for the objects of industry, I think I need not argue
what an impulse of prosperity and activity would give to the country.
It is upon such sound principles that this Society is based—it receives du-
ring periods when there are not opportunities for the extensive em-
ployment of capital, the savings of the industrious, and is also a
Loan Fund for the purpose of productiveness when occasion
presents itself; and besides these advantages on both sides,
I need, I think, hardly point out how much greater is
the moral benefit for a man to borrow upon his own savings
than to lay himself under obligations to any one; thus the National
Loan Fund Society opens its doors to the most narrow income, and by
providing for the independence of every class tends more than any other
institution to promote the moral and intellectual advancement of the
country at large.,,, I will now proceed to show in what way, as regards
the plan of deposits, the National Loan Fund surpasses all other So.
cieties in the advantages it offers to the depositor, anti its extreme
utility as regards its combination with Savings Banks :—for example—
a person aged 25 having accumulated a certain amount in a Savings
Bank, and wishing to apply a portion of it with this Society, would, by
a monthly payment of 7s. 4d., or a weekly sum of ls. 51:1., secure to
his survivors 2001. in the event of dying within the year, and be
able, besides, to draw two-thirds of his premiums for Isis own use.
For his accumulations to reach that film, it would perhaps take
many years, whilst in case of early death, after the first monthly
or weekly payment, the whole of the above sum would be secured
to his survivor. Thus, when Isis accumulations bad reached their
highest point, by depositing with this .Society he would secure
the greatest possiisle amount to his successor, not only without
risk, but with profit to himself. As a kind of Benefit Society,
acting upon a sounder principle, the advantages ate still more
obvious :—By the payment of a weekly shilling, a depositor, through a
better application of the same means, or, as I have observed before, by
the economy of capital, is able to obtain for himself the following re-
sult.. The principle upon which the Society is based, viz., returning two.
thirds of the payments at death in the event of forfeiture, and granting
permission to borrow to the same amount in the event of misfortune,
enables a man, say of twenty, to secure to himself the option of the fol-
lowing benefits at sixty-five. By the weekly deposit of a shilling he
will have an annuity of 47/. 16s. ; cash, 394/. Its.; or a policy payable
at death of 4661. in the event of forfeiture, or of his not reaching the
above age, two-thirds of his payments will be returned to his relatives—
under sickness the power to borrow to the same amount (and as I have
shown that the contingency is trifling, the above means will be ample);
and in case of temporary misfortune an equivalent loan. On the other
hand a Benefit Society can only grant for the same weekly payment an an-
nuity of 261., but gives neither the option ofa sum of money or apolicy, an
allowance during sickness (which after a few weeks is reduced to one half)
nothing as a loan, and at deaths sometimes a small sum of money for fu-
neral expences. With the National Loan Fund you will perceive the
contingency fbr sickness being provided for, only in the event of that
calamity occurring, a depositor's money is so applied that the fullest ad_
vantage is derived from it, whatever may be the peculiar circumstances
in which himself or his survivors may be placed. And I think it is fair
to argue, that if the prosperity, success, and stability ofa society depend
upon the amount of business done, the claims it has to popular and ee.
neral support must render it the most extensive in Europe, and I can
prove by analogy that if Savings Banks have accumulated by small de-
posits from the poorer population a sum excceeding twenty
millions
sterling—if benefit societies, in spite of their deficiencies, have
got 1,000,0(0 of depositors—it is not unreasonable to presume,
that in holding out greater advantages and better security to a
mere intelligent and wealthy class, its the aggregate, the most in.
telligent and wealthy in the kingdom, the National Loan Fund
Fund Life Assurance Society may reasonably look forward in such a
country as Erglaml to thosegreat results which it is xow labouring to
produce. I might here take this opportunity to mention that the prin-
ciples of the above institution, particularly the principle of deferred an.
insides, with the option of benefits, will offer invaluable advantages to
a most numerous class which has scarcely been taken into the considera.
tion of ary society, and which, from their position and education, are
naturally disposed to Leek for greater returtss than the minor insti-
tutions, I mean strings banks and beeefit societies are able to give,
and who are yet exposed to great risks of forfeiture and loss. I allude
to merchants, and bankers, clerks in general, possessing salaries from
801. to e.OO/. per annum, more or less, with the prospect of increase; in_
deed, so much has this want been felt, that it was proposed, but I believe
has never yet been carried into execntion, that all the clerks in London
should form themselves into a soc'ety for their Innate( protection.
This, however, the establishment of our society will now render 1111-
neces,ary—for instance, If a person cf 20 call secure to Limself,
by the deposit of a weekly Is., an :tenuity of 471. 16s, with
options, these mivantages will be increased five or tenfold in proportion
to the deposit, so that according to a man's age, or the period he wishes
to retire frum arduous labour, lie will have secured to himself two, three,
or four It undrea per annum, and be able to enjoy that repose and com-
fort which every man in advanced life ought to possess,
and more espe-
cially if that life has been a laborious and an active one. I have now,
Gentlemen, I think, laid berme you as briefly as I was able, the plans
and principles a this Society, comparing it with other Assurance Offices
as regards the certainty edits extensive operations, and the moral revcle
lution it is calculated to effect throughout the country, its superiority is •
obvious; and I think if you will leok at in any light, in a commercial,;
philosophical, or pecuniary point of view, it will appear equally favour-
able. I will new, therefore, with your permission, address a few words
in conclusion to the philanthropist. Th s country more titan any other •
boasts, I am proud to say, the brightest and most virtuous names, the
number of useful and charitable institutions, founded by benevolent.
individuals and supported by private charity attest the fact; but if the
true principle of charity is, as I hold it to be, not the mere act of giving,
but bears a wider and more extended constructiosi, instructing the
ignorant, enabling the seed disposed to provide for themselves by
their own industry, relieving the sick, the aged, and tie infirm, then
I call upon yeti to co. operate wills us in carrying out the principles of
this society, which will give to the labouring man the certainty of that
independence—that full return of his industry in Isis old age which he
has every claim to, but which he has never yet been able to secure to
himself. It has been trees, said, that "the vices of the poor are the pun-
ishment of the rich." If the farmer or lauded proprietor has his ricks
burned, his barns fired, does it not behove hiss to remote Use -cause of
such evils ? And what are the causes but ignorance, and the want of
the power of productiveness. Who is the rick burner, the poacher, the
incendiary, and the vagabond ? The.man who has received no instruction
—who po s3sse alio stake in the country—who having nothing
to lose,
cares not fur the losses of others—who wanting bread and the
very means of existence, commits that act which renders the
food he wants more difficult of acquisition. On the ether hand, the in-
dustrious well-disposed labourer is a blessing to his employer; he hn-
P •
rove
interest the value of Isis land—he increases his wealth—and therefore
s
sehf
i"gr gratitude,
e'should point out that his industry
ought in his even,old g
available to himself, as it was to his
ao if
to be made
master in his youth and in the vigour of his manhood. The happi_
ness of our fellow-creatures is incorporated with our own; in doing good
to others we serve ourselves." Let us carry out to its fullest extent this
o we wear,
e
principle, if I may so term it, of noble selfishness, emd soon, very soon,
crime will no longer wall: abroad, and by re-acting upon placed by
to many dangers
fortune out of the reach of temptation, punish them for their neglect.
We do not sufficiently consider the obligations we owe the producer, the
eperative, and the tiller of the soil, upon whom our very existence
throughtl
depeinl, s, ant: who,and to much to procure
physicalu s th e
blessings
suffering;
enjoy,
the n
clothes
greatthat eweat
errmi
°sr
autsi
0,
ne voefri 1 anti°rt risk y,
comfort aild o f
not a trade but has of life, are ours
its peculiar decease, its own risk of decreptitude, suffering, and death ;
fi
fuel
and is it not hard that after such a life a man's old age should end
in a workhouse ; that Isis earnings, the produce of the sweat of
his brow, should be fretted away for waist of the fullest means
of accumulation ? No! if such has heels the case, let it be so no
longer—unite with us, enable each man, the very poorest, to ac-
quire a stake in the country, to provide, by the industry of his youth,
tier the independence of his old age; and I think you will agree
me when I say that that moral good, that moral revolution,
will be effected in this country with the further aid of education
and religion, which railroads, in another sense, are now producing
in the land. Gentlemen, I feel that I have detained you too long, but
the subject I was upon has carried me away beyond my intended limit ;
I will, however, now give place to a gentleman whose co-operation and
support affords us the highest pride, and whose name alone will be a
guarantee of the moral objects of the Society; and in doing so, I beg to
express my sincerest thanks for the kind, flattering, and patient atten.
Lion you have given me throughout.

After some conversation between the Mayor, the Rev. Mr. Blizard,
the Rev. Mr. Ball, the Rev. Mr. Austen, W. Stevens, Esq., ar.d Mr. Vine%
The Rev, G. IlutmE then rose and addressed the meet i nu to the following

effect :—ln rising for the purpose of proposing the resolution which I
hdd in my hand,perhaps some apology is necessary for one who holds,
however unworthily, the sacred office which I do, for taking apart in pro-
ceedings of a financial nature; but because Ido not consider the subject
as one of atemporal character only—as one by which a little more may be
gained ; but because I look at it in amoral point of view, and perceive such
great advantages, calculated in my opinion to effect great improvement
in the condition and habits of the ineustrious classes, that I come for_
ward for the purpose of saying a few words on the present Occasion.
And when it is recollected what. a great change 1153 been made in
the condition of the poor by the working of the New Poor Law Act,
I will say, without expressing an opinion either for or against
that measure, it is incumbent on all the friends of the poor to co-
operate in any measure calculated to improve their habits, and to restore
that spirit of independence, the absence of which has occasioned
so much evii.—(Great applause.) Many years ago I assisted in form.
ing the Savings Bank here, and I have marked its success with
feelings of delight—but do not let it be supposed that we wish
to disparage those excellent institutions —on the contrary, I
melees they will be found valuable auxiliaries to the present Society ; for
if a labourer has placed 101 in one of them, Ire cant at any time invest
that sum in this Insurance Company, and will reap great benefit by
being able to realize in a shorter time the amount for which he had ju-e-
-viously insured. This would be a great stimulus to industry, arid would
encourage the insurer in industrious habits by a prospect of reward.
Every father of a family basks forward with anxiety to his final depar-
ture, and that principle prevailed among the higher classes, who were
large insurers—the reason is, they are desirous to make a certain
provision for their children ; it is this privilege we wish to place
within the reach of every man, so that he may say when he lays his
head upon his pillow :—" if it please God that I should be taken
this night, I shall not leave my wife and my family unprovided
for, with nothing but the workhouse for their home; but there is a pro_
vinion for them—my property is here—they will not he left destitute."__
(Applause.) It may be said that savings banks do this—but we do more
than they do. A roan may commence early and place deposits in tire
savings banks, but he must wait long before Ire can realize the few paltry
pounds which his money produces there. Here, on the contrary, if he
is insured today and dies to-morrow, his family immediately receive
two thirds of the amount for which Ire was insured. With the savings
bank it is an uncertainty whether he accumulates a sufficient sum to
maintain him in old age—here we offer him an immediate and certain
provision, by investing the same amount in this Company. To the me.
chanic, the tradesman, and all those whose whose incomes are uncertain,
we offer greater advantages than any other Societies can.—(Hear.)
There were certain things which disticguished this Society from Benefit
Societies and gave it a decided preference. ‘Vhen a member of a Be-
nefit Society became sick he was then an object of suspicion, was under
the irksome control!! of " visitors"—here there was nothing of the
kind. With the other at their meetings it was said, "if Jan or
Thomas Si-and-so in ill much longer we shall be broke up," and
feelings were engendered which ought never to exist—here we have
nothing of the kind, any one may draw out their money if sick and the
general interest is not injured.—(Hear, hear.) In a moral point of view
the advantages offered by this Society are obvious. It raises the cha-
racter of the Insurer in his own estimation and in the estimation
of others—a spirit of independence springs up in Iris mind—he is a
man who has a stake in the country, wino has a character to lose—it
becomes a powerful principle in restraining him from vice, and by the
exercise of a trifling self.denial he will secure that which will hereafter
amply reward him; and it also restores that spirit of independence, the
absence of which among the poor Irma been the bane of the country. It
promotes, too, domestic happiness and contentment. The wife can no
longer reproach the husband with making no provision for her; the
husband, instead of being reckless in his habits, becomes carefal, saving,
and contented in his disposition, and his attachment to his wife and
family strengthened. Nor does this Company profess to insure at
lower terms than other Companies--I would have nothing to do with it
if that had been the case ; but it offers perfect security to the insurer,
and also fair remuneration to those who conduct the Society. The inte-
rests of all concerned in it are regarded ; it does not offer some golden
scheme of wealth which will turn out to be mere moonshine, but it will,
I doubt not, be found a blessing to the country, if we unite together and
endeavour to carry out the principles of this good cause. The Rev.
Gentleman concluded a powerful and energetic address amid general
marks of approbation.
Mr. Thomas Ltrren worms seconded the resolution. It would be
presumptuous in him to offer any remarks after the excellent address
they had just heard, and the able speech of Mr. Hampton, but he en.
tirely concurred in the view which had boen taken of the benefits that
would result from this institution.
W. STEPIIENS, Esq., said that the calculations in the tables of the
Society had been made with profound sagacity, and were based on sound
and excellent principles. lie would not trespass on the time of the
meeting after the able speeches they had heard, the advantages of the
Society having been so fully detailed, that they must be evident to
all.—(Applause.)

Mr. K VINES said he would avail himself of the present opportunity
to state why he had come forward on behalf of the present undertaking.
It would extend those advantages to the middling and poorer classes
which it was an indisputable fact had until now been only within the
reach of the wealthy.—(Hear, hear.) It was manifest to all that
there must be some inherent defect in the constitution of existing
Insurance Companies when it was borne in mind that only 80,000
persons were insurers out of a population of fifteen millions; it be-
came therefore a subject of inquiry among some gentlemen whether a
plan could not be devised which would embrace within its sphere in-
dividuals of every class and in every circumstance .1* life. The
result had been the formation of that Society which had been
brought before the notice of the inhabitants of this town and county
to-day. And here he would point out the great disadvantages and in
conveniences attendant on insuring in most of the other Companies, and
also which resulted from belonging to Benefit or Friendly Societies.
The insurer in the event of death, or of being a defaulter in his payments,
lost for ever those advantages which he had been perhaps for some years
contributing by his industry to procure. The machinery of all Benefit
Societies was most defective—the principle being for the healthy man to
pay for the sick man; and when the average amount ofsickness—only from
6to 8 days a year—was considered, the advantages of such a Society as this
over them must be strikingly self-evident to every unprejudiced person.
—(Hear.) It offered advantages by investing from the largest sum
down to the smallest fraction, and by enabling the insurer at any time
when his necessities required it to revert to, and fall back upon two-
thirds of the capital he had embarked in this Society ; and by giving him
the opportunity of redeeming his policy at any future period, it rendered
it the most safe and profitable investment which a man could make; and
lie fully believed that as the operations of this institution were more
universally diffused—and there was no question that they speedily would
—a would be found that it would benefit the great masss of mankind
and particularly the commercial world.—(Applause.)
W. SIEMENS, Esq., observed that he had the tables of thirty-nine
offices before him, and taking their average this Society was not under
them ; it was, therefore, no catch-penny concern.—(llear, hear.)
Mr. Sicvca, a cabinet-maker in this town, said, after hearing the
arguments of the different speakers, I am convinced this Society is far
better than any Benefit Society. Of hundreds of Benefit Societies
there are few that stand many years—they break up because they
have not made proper calculations, and from their rule of "spending
money" at their weekly, monthly, and quarterly meetings ; also the ex-
pense of their annual feast, although there were only '2OO members in the
one I belonged to, our feast cost 504 They are also open to impo-
sition, and means were used to detect it and their were fined 10s. ; but
that was but a trifle after living for months on the club. I have known
some of them receive as much as '2OOl, in that way. I continued as a
member fur 18 years, and was only ill a fortnight during the whole of
that time, and when this Society broke up we divided at the rate of4jd.
in the pound, so that I received 3s. 4d., and the oldest member, who had
belonged to it 38 years, received 7s. I Ocl. ; the youngest, who had been
in 10 mouths, and who had paid 18s. Gel., received 3s 9d. And so con-
vinced am I of the advantages of this Society, that I should wish all my
family to belong to it.
Rev. G. Hur.m E moved a vote of thanks to the Mayor, for his able con.
duct in the Chair. The motion was seconded by W. Stephens, E,q., and
carried (as were all the resolutions) unanimously.
The MAYOR, in returning thanks, observed that it always afforded
him peculiar gratification to preside at and assist in promoting the ob-
jects of Societies like the present; and indeed of all institutions which
had for their end the benefit and improvement of the condition of man-
kind generally, and which were eminently calculated to benefit the local
interests of the town and neighbourhood. This had been Isis conduct
since he filled his present ( nice, and to it he intended to adhere as long
as he occupied that situation.—(Applause.)
The meeting then separated.

,EVENTY-NINTH HIGHLANDERS.—The store-
keeper of Edinburgh Castle received, on Saturday last, from the Tower,
London, 659 stand of arms, of the most improved new pattern, for the
immediate use of the 79th Highlanders. The pouch and bayonet belts
are found to be too short, by some inches, for the grenadier company of
this regiment, whos:-: average height is 5 feet I I-,-, inches, a fact of which
the 110n,urable Clothing Board appear not to have been aware. The
79th were to have marched yesterday, but the departure of the regiment
has been postponed ; it is expected that they will not move before the
4th of next month, after being reviewed by the Commander of the
Forces.—Edinburgh Paper.
GOING A-lIEAD IN AMERlCA.—Railroad facilities
were practically exemplified a short time back. Hackett performed
Falstaff on Thursday night at Washington, appeared at Philadelphia on
Friday ; repeated Falstaff; which had been called E. once more, at
Washington on Saturday, rested twelve hours in each of those cities,
and reached New York next evening, Sunday, about midnight. From
Pidladcldhia to Washington is 150 mites, and from Washington to New
York 228 miles.
•
Within the last few (lays almost all the journeymen
boot-makr.Ts at the west end of the town have" struck" for an advance
of wages. The masters have, however, firmly resisted them, notwith-
standing the inconvenience and loss to which they are thereby subjected,
particularly at this season of the year. It is expected that the "strike"
will not be of very long continuance, as the men see, from the firm
position taken by the masters, that they have no chance of obtaining
their demands.

1. PRECISE INTELLIGENCE.—A Tipperary Paper
gives its readers the following specific information relative to proposed
matrimonial arrangements among the letters of the alphabet. Whether
the readers of Tipperary were able to glean any informatio❑ from the
announcements is difficult tc say :—" The handsome and wealthy Mr.
M, of is about to lead to the hymeneal altar the lovely Miss J.
It—, of II d. The beautiful Miss C—, of this town, is about
to be married to an eminent b —r, of Dublin. Mr. B—
is about to lead the amiable Miss T—d, (both of this toan,) to the
altar."

On Wednesday evening last, as two or three work-
men in the chain manufactory of Mr. Gething In this town, were
' weighing some chains, a wall on which the scales were suspended gave
way, and fell on a young mall named John Gray, and injured him se-
verely. He was carried Imme in an insensible state, and the following
morning he expired.— Cambiian.
The salmon fishing, by the improved stake net on
the'Clyde, is doing well this season at all the stations on the Clyde, but
more especially at Mr. Wallace of Kelly's fishing at Wemyss Bay.
About three times the number of fish have been taken, up to the pre-
sent time, that were taken last year, and it was a good season. The
price of salmon, nevertheless, still keeps high, but it is expected to fall
immediately.—Greenock .lavertiser.
DUELING.—Nothing seems more absurd than the
unequal terms upon which duellists meet. One shall be weary of life,
racked with pain, and in the contemplation of suicide; his antagonist
in full health, and in enjoyment of it. One shall be just on the eve of
marriage with the liveliest of women, an angel to his thought in his
moment of hazard ; the other shall be glad to get rid of his wife, even at
the chance of getting a bullet through his brain. One man shall have
lost his all, and the other shall have won it. One shall be a dependent
beggar, with just five sovereigns in his pocket; his antagonist the titled
and courted possesor of half a county. The one man, if he be
shot, shall leave his widow and children destitute; the other may en-
rich his nearest kindred by Isis death. And all this daily takes place
for the proper satisfaction of a gentleman! " Blackwood's
Magazine.
A complaint was made last Monday in the police
court, that several parties hawked arid cried shrimps in the streets on
Sunday. jr appears by the Act of Parliament, that, however great a
luxury fresh shrimps may be to the poor, they are nut to be allowed to
buy them on the Sunday—the Act specifying only mackerel and milk
as articles to be sold on that day.—Lhell Observer.
RAPE.—On Monday se'nnight, a fellow named
employed as a roller, at the Tredegar Iron Works, was
Meredith,
brought before S. Homfray, Esq., charged with the commission of rape
en Mary Mitchell, aged eleven years, of the parish of Bedwelty, on the
night of Sunday the 25th of March last. The child swore to the perpe-
tration of the capital offence. The prisoner, in his defence, declared
that the girl was a consenting party.—...Gommitted,—Cambrian.