The Sun.
London, England, 1838-05-03 00:00:00

SPIRIT OF THE PUBLIC JOURNALS.

"We adverted the other day to the " National Loan
Fund and Life Assurance Association," and declared our
intent on of again refersing to it, as one that was not (niy
stable in principle, but caieulated in an eminent degree, to
confer great benefits upon (very elites of society. The
press of matter. upon our columns has since prevented us
from doing pstice to it ; but we scarcely regret the delay,
inasmuch as it has afforded us more time to reflect upon
the principle and benefits of the Institution, and that we
that t
e
very candidly declare h
can newe more we have re-
flected upon it, the more are we convinced of its sound-
ness and utility. It is a great point that parsons, from eir-
eats:stances of adverse fortune, or temporary difficulty,
should not be deprived of all the results of their previous
y, on the contrary, have an opportunity of
cifeer receiving some portion of them, or of reinstating
themselves in the same position upon the occurrence
of better fortune. For this calamity there is no pro-
ision in an.. Insurance Office hitherto propounded,
ex seret that of " the National Fund." In any other office
the paty insured may, from various circumstanzes, be
inctipahle of continuing his annual suliseription ; and
what is the c.nfseqiienc.e ? Why, that his insurance is at
an end, and that he 'nest, if better times occur, Icgin
again, from the beginning, with the loss of all his money,
or else enter into a higgling and unprofitable bargain,
either with the institution in which he has insured his life,
or with some speculator, who will give him as little as he
can make up his mind to receive. Not so, however, with
the " National Loan Fund Life Associetion." Two-thirds
of the money actually paid in the shape of insurances can
not only he obtained at any moment, and for any purpose,
upon deposit of' the policy, but the policy of the party,
upon the repayment, will be as good as upon the first day
of insurance ! This, however, is not the only matter wor-
thy of record. The Association provides but for the be-
nefit and advantage of the middle classes of society, and
also for that of the poorer classes, whose interests are at
present sacrificed by Benefit Societies, Savings Banks, and
other institutions, in no respect calculated to serve them,
as will be seen by the following extract :-
4. A person, aged 23, by the payment of Is. per week, or
2/. 12s. per annum, will secure, on attaining the age of 50,
the option of an annuity of 81. 163. 3d., cash down 113/. 6a.,
or a policy on his life for 17S/. Is.
" By one-half-the payment, that is 61. per week, or 11. 6s.
per annum, he will secure the option of half the benefits.
By five times the payment, he will be entitled to the option of
five times the benefits; and the same may be extended to any
other proportion. (All premiums to terminate with the
period.) Two-thirds of the payments may at any time be
withdrawn on depceit of the policy; and should the party not
survive, two-thirds of his payments will be returned to his re-
presentatives.
" A person, aged 24, may secure, on attaining the age of
50, the option of an annuity of 101, cash down 1281. I Is., or
a policy on his life for 2021 Is. 61., by the annual payment of
31. 35., or a single payment of 491. Bs. ; or by payment of
111. Os. id., for disparity of age, he will be entitled to the
same benefits by the same annual payment as for the age of
120, viz., 21. 9s. per annum.
" An annuity of 50/., or five times the other benefits, may
be secured by five times the payment; and, in like manner,
any other annuity and corresponding benefits may be pur-
chased by making the payment accordingly.
" A person, Aged 25, by the payment of 2/. 12s. per annum,
will secure, on attaining the age of 55, the option of an an-
nuity of 121. 9s. 7d., cash down 1131. 65., or a policy on his
life for 2001. Is.
" A person aged 25 may secure, on attaining the age of 55,
au annuity of 101., with the other options, by the annual pay-
ment of 21. Is. 91, or a single payment of 34/. 10s. 3d. ; or
on payment of 8/. 18s. .Id. for disparity, he will be entitled to
the same benefits by an annual payment of 11. I Is., the same
as for age 20.
" A person aged 25, by the payment of 21. 12s. per annum,
rill secure, on attaining the age of 60, the option of an au-
nuii7 of 201. 13s. 4d. ; cash down, 2021. Is. ; or a policy on
his life for 259/. 193.
" A petaton aged 26 may secure, on attaining the age'of 60,
an annuity of 10/., with the other options, by the annual pay-
ment of 11. tis. Pd., or a single payment of 22/. 17s. 3d. ; or
on payment of 61. 14s. 3d. for disparity, he will be entitled to
the same benefits by an annual payment of Hs. 11d., the
same as for age 20.
" A person aged 23, by the payment of 2/. 12s. per annum,
will secure, on -attaining the age of 65, the option of an an-
nuity of 40/. Bs. 2d. ; cash down, 333/. 7s. ; or a policy on
his life for 3931. 15a-
'" A person aged 30 may secure, on attaining the age of 65,
an annuity of 10/., with the other options, by the annual pay-
ment of 19s. 6d.. or a single payment of 161. 7s. Id. ; or on
payment of 71. 3s. 11d. for disparity, he will be entitled to
the same benefits, by an annual payment of 10s.. Ild., the
'lame as for age 20."
Let the middle aria worUig-elaeses carefully read over,
eertanler, canvass, and digest tliese principles ; and having
done an, ash Aliell1;e1V:s whether they crn have a better
rnec.its of investment, insurance, or annuitant fund. If there
he a better, let thi an take advantage of it. Our opinion is
that nothing so sound in principle, or so careful in practice
hag been propounded. At all evente, no Savings Banks,
no Benefit Societies, have hitherto proposed the same ad
vantages ; and it is a matter of high honour to T. L.
Murray to have the first to bring it before the public.
The ,schema is splic!able to nil elitz3es of society, but to
none does it offer 'so many advantages as to the careful
and cr nsider-te workman. In confirmation d our opinion
we quote the following article f;oin The San :-
The public is more deeply intisrested than it is at all
aware of, in the zealous efforts of die distinguished founders
of the Netinnal Loan Fund and Life Assurance Society. In
the success of this vast project, we can clearly perceive the
seeds of a rich harvest of popular comfort-the germs of a
social and moral regeneration, the influence of which will in
time pervade the humblest hovel in the land. We believe
it is now some months since we, directed public attention to
the prospectus, published by the ab'e Chairman and original
founder of the institution, Mr. T. Laurie Murray, when iv*
stated that the whole scheme was by no means perfected,
although it offered to persons of limited income inducements
to, the forming of providential habits never before held out
to them. We have now the outline of the complete plan
before us, and never was there a project submitted to us so
well calculated to benefit the humbler classes of soclet7.
The principal inducements which it offers to prudential
and economical habits among the working classes are the
following-i---A person insuring his life for any sum, no
matter how serial!, say from twenty years of age, may at the
age of fifty, fifty-:ise or sixty, exchange it fora -fixed annuity,
to be paid to him durieg his life ; or he may accept in lieu thereof
a fixed sum of money proportioned to the amount of his past
payments, and not to the aeSual market price of his policy; or
he may at any time, by deposit;ng his policy with the Society,
borrow upon it two-thirds of all the money he may have paid
into the Society, without detriment to his interest in such pu
liey ; or in the event of his death, two-thirds of all the money
he may have paid into the Society. is made returnable te his
friends or executors for the benefit of his family or legal
heirs. To suit the convenience and to meet the neeeesities
of the humblest classes, tho payments upon policies may be
made weekly, monthly, quarterly, or annually ; and that the
poorest may not be without a hope of bettering their cone
paymenta upon policies, not exceeding 6d. wcek:y,
afn contemplated. Now there are few labouring men who
might not pay into such an institution from a shilling to half-a
crown weekly. This saving would amount to an independence
in old age!. A labourer, aged twenty-three, by the payment
of a shilling a week out of his earnings, would, on reaching
the age of .fii'ty, find himself in possession of an annuity of
81. 16s. 3d. fn. the remainder of his life, which it would be
optional fi=r him to exchanges for 113/ money. This
turn would pee the relit of his cottage, and enable him Le
pass the rest of his days with a comparative degree of comfort.
A weekly payment of sixpence would produce half the bene-
fit ; a payment of two shillings would double it-and so on in
proportion. Lei. it he remembered that the inifantages held
out by this Institution b. longs a; a matter of absolute right to
the assured, aiet its immense superiority to Savings Bank;
arid Benefit Societies, as err etigiuc for the moral improvement
of the people. will be at once preceptitiliz. This Society lays
no claim to the merits of a charitable Institution, carried on
under the management of a Committee of self.sacrificing phi-
lantb"opists. It does not affect to be guided by any prineipies
but those of trade, and its relations with the public will be
pt,rHy c.;f ac, mnrrei:d character. It will not, like the Sav-
ing penks,.refuse the poor man's earnings, blcause they may
have aecumulatA to something more than would pay a rich
man's glover's bill for a year; neither will it, like the Trus-
tees of a Benefit Club, institute any inquiry, should the as-
sured rsquire a loan to the amount of t,vo-thirds of his pay-
snent.-Blorning Advertiser.

The House of Commons did no work last night. There
wen:' not present Members enough to " mike a House."
Yet nt,:k a week has elapsed, since Ministers required, that
another o.c the " open" nights of the House rhould be con-
ceded to 616n—their plea being, the immense amount of
leg:station with which they mean to ble,,s the country.
Why, then, said the;; fail to turn last night to account in the
exposi•ion of some of their wonder working measures?
The necessity for retaxaton will scarcely be pleaded by
ofticials, fresh from the enjoyment of the Easter holydays.
every direction, may be dis-tovered proofs, that the ut-
most vigil,:nee and energy en the part of Government will
scarcely suffive to disentangle, without deep .discredit,
foe cotnplcl.: relations of our foreign and domestic policy.
Y.: .t the present imbeciles do nothing, And it is welt,
perhap,,, that such is the ease—for never have they
ttempted
rithout inflicting on the country,
a
a acareely-calt,'” tr
lable aouri! of injury. But, although
the feebleness and ignorance anu 'l4;r:ess of the Whigs
(egar,r) their in-
are admirable reasons why we shouicr
activity, as in. some sort, a blessng—sti.! Om very
qualities which render the sluggishness of the prc.7"l"-'
(uncials, by comp.rrison, advantageous, render their expul-
sion from otEee, a consummation most devoutly to be de-
sired ! Look to the east of Europe—look to Spain—look
to Canada—look to Ireland—look to the new position
which Russia is contriving to assume, relatively to our In-
dian possessions to the condition of the productiire
classes at home—our foreign trade declining—our home
trade weighed down by vicious legislation :—in that vast
catalogue of subjects, all demanding the superintendence of
legislative wisdom, may surely be I loniv_ reasons why the