The Sun.
London, England, 1847-05-14 00:00:00

ELECTION MOVEMENTS.

WAKEFIELD.—Mr. Loch, sou of Mr. Loch. Member
for Kirkwall, and a young man of considerable talent? is
a candidate for Wakefield.
MIDDLESEX.—A large and influential portion of the
electors of Middlesex are taking steps to secure the
return of a second Liberal candidate. Sir Edward 130"
ton will, in all probability be the party returned, end
there is little doubt entertained of bis success, if be
comes forward. Middlesex would then be represented
by two good men and true, in Lord Robert GrO;Verla
and Sir Edward Buxton.

A mine of rock salt has just been discovered in the
environs of Lemberg (Gallicia), which is even richer than
that of Wieliczka, in the same province, hitherto considered
the richest in Europe.—Galignani.
the Accountsa froovme
rflMo
wuehdl bi etargb,
aonfk
at hnee3a
rd ,
tihneftortmewuns, thatand
t h re atit Isn e d,
cb
Ay
lrr
tc inundating
yN
T destroyhe
vt_hae,cwronpers.
T
fGelatzseos s
se
estates,, that
asince nthen
dscarcity
eocif provisions
or i
nv
ti sir
oodnus had
c e atdh been
euesen_
of horse fleshy Severalb horses had been killed and sold, old
the prejudice appeared to be wearing off.
R --The
GREENLAND FISHING, LERWICK, MAT ...
_A
William Ward, of Hull, Captain Granville, has just arrived
from Greenland, with about eighty tons of oil and eight that
sand seals. She was stove in by the ice, and lost tour bea.
before being extricated. She came in at Hillswick, °'''
Thursday, and is now getting some repairs before proceetTiff
to Hull. It is only six weeks since she left Lerwick, an
she gets speedy repair, she will accomplish a second voyage
to Greenland. The William Ward conveys the intelligence
that several of the vessels had fished tolerably well, and that
some of them may be looked for soon.—Newoastle Advertise'
FOOD RIOTs,—A riot, in consequence of the deer"
ness of provisions, took place a short time since at Lent.
of a speculator in corn
meritz, during which the ears
cut off by the mob.
DEATH OF MAJOR-GENERAL THOMAS FRYERS.
Major-General T. Fryers, of the Royal ngineers, x
on Wednesday, at his residence in Woolwich. The deceaav;
officer had just completed 47 years of active service, ltjti.,e
FelBnirotseotr.ed the corps as Second Lieutenant on the 2d of Alt'
LiHenitsesnuabnsteqluBetnnt
April, 1801;
ca,areptdaainte,dseaspt.f2ollr
I,Bso2:is!
Brevet Major, August 12, 1819; Lieut.-Colonel, Mor" 9• ,
1846. 88
42
65.; Ci i leo
wn eal
s, Jaapne.nliOn,sullaBr37offi;
caenrd,
htlvaijnogr-sGeervneedraini, '
the Inv'
morable campaign at Corunna.
IMPROVEMENTS IN THE TOWER or LoNnol(P
Wednesday the entire row of houses on the right leading from ABTraitor's Gate on to the Chapel-green were demolished,
le
also the old guard-house on the west aide of the White
Tower and the adjacent buildings; the ground occupiee ut,
them to be levelled and added to the Tower-green, which_
now approached by a noble flight of twenty stone steps fort
feet in width, having battlements of Kentish ragstona. "lo▪ it
whole of the houses on the west side of the fortress are r!..w.
cleared away, including the old Map-office. The new build"
ing, on the site of the Armoury, destroyed by fire in October.
1841, is nearly finished.
Yesterday a Court of Directors was held at the
East India House. when Major-General Sir John Etuntet
clttuntleorn Kof.Cin.lka.was appointed a Provisional Member of the
FIRE AT THE MACINTOSH WATERPROOF FABRIC
MANUFACTORY.—About twenty-five minutes to five o'clock
on Sunday morning, the policeman, who was on duty is '
Cambridge-street, discovered a fire proceeding from the lower
part of the cellar of Messrs. Macintosh and Co.'s waterproof"
fabric works, in that street. Intimation of this fact was c°_,lii-
veyed by him to the station; and Mr. T. Rose, accompaam`
by his father, the whole of the fire brigade, and four engines,
was
at once proceeded to the works. On arriving there, it '''
found that the India rubber stored in a vault communicating
with the cellar was on fire, and that several of the men in the
employ of Messrs. Macintosh and Co. had attached a pipe to
their own force-pump, and were pouring water on the flames'
Two engines were speedily geared and got into Pleb mod'
after three-quarters of an hour's exertion, the fire was com-
pletely extinguished, without having extended beyond th!
vault. The dams e, ppe, it is suosed, will amount to &hew'
150/. or 200/. The overflow of the Medlock is said to ha"
been the cause of this fire. The water, having forced its
way into the lower part of the premises, came into contact
with some chemical substance or liquid used in the preparfe
lion of the waterproof fabrics, causing ignition, an the
1
flames spread to the India rubber, of which there were severs
tons in the vault. The flood in Little Ireland was at this
time so great that some of the people who went to assist la
working the engines had to swim across it.—Manchesto
Express.
THE DISTURBER OF THE PEACE ON ENGLAND AND
InEtasn.—Young Ireland has been creating a disturbannce.
for months past, frightening quiet people, and alarming the e¢
tire kingdom. It is time now, we think, that he should be tak
_t!
up, gently reprimanded, and bound over to keep the "
Vibe
fin• a twelvemonth • but the only question is, who would
set
his sureties? The'best thing, perhaps the most frieadly ",.'_'
to Young Ireland, and the quickest method to restore the
riotous young gentleman to reason, would be to put D. il_u.
under confinement for a short time, for we really cannoten&
hose that the young fellow is in his right senses, or he i.
never have behaved in the mad manner he has been doinglatev,,
Tye
;
It would not be a bad move for the Government to to
a writ de lunatico inquirendo against Young Ireland.
able he...
is more than sufficient evidence to prove how i S.
ncap
to manage his affairs. If the commission is granted,. oc_.
as a particular favour to be the counsel en aged on that. /
casion. What a case we would make out for the Jury ,
is

—Punch.
A robin redbreast has built its nest in a is
lanthornt
which is hung in a blacksmith's shop in which work
carried on daily, belonging to Mr. P. Heptonstall, arm
on
or
of Rooker-hill, near Boroughbridge, and is now sittin g

four 411,

I

Eft,
1101
t}
tql

the
indi
the:
the
tom
Ind

POli,
%tic
of (
or 4

hib
/.360
la c
Of

tic
t 1
to

.1.
1 .. ..,..., ._
NATIONAL LOAN FUND AND LIFE
Lie
ASSURANCE zeOCIETY.
er. The annual meeting of this society Was held on
Wednesday, shortly after one o'clock, et the London
;et Tavern, Bishopsgate-street. T. Latnie Murray, Esq.,
ay
en in the chair.
nit The Cuerames called upon the Secretary to corn-
gn
st, . eneuce the proceedings by reading the advertisement
convening the meeting.
t•
lit Mr. P. FERGUSON CLIIROUX, the Secretary,
read the advertisement, which stated that the
he meetin
Al-
g was an annual one, and that it would be
ad necessary for the proprietors to elect three Directors
in lieu of
a* Ta John Elliotson, M.D., F.R.S., Clement
re bor, Es_ ,i.,Joseph Thompson, Esq., period
of office whose
nt electedcehad expired, but who being eligible to be re-
c. , I offered themselves accordingly ; and for the
ocfonifilremnraytion of the election by the Court of Directors,
in Penwick, Esq., as a Director, in lieu of
ekj°uhdritorFs,rkh' EN.
; also
es
for the election of two
O. in place of Professor Wheatstone, F.R.S.
and Professor Graves,A Al FP S whose period of
s- .1 ~ •e• e
so °oe had also expired, but who, being eligible to be
re-elected, offered themselves accordingly.
The CHAIRMAN then called upon the Secretary to
ilt read the report which was as follows, and which was
le listened to with great attention by the meeting :
;° h " EIGIITII ANNUAL REPORT.
es eff:rTd -e annual general meeting of the society again
le prie, s the directors the pleasure of meeting. the pro-
-°rs being the eighth time since its institution. t
cans .4
he Paq year, owing to a variety of concurrent
ca
96itat!, tending to depress the great staples of our nai
ir .
ie
neinedustr'y, to augment the ordinary expenses of
r- ..
r-
iaand 'the pecuniary difficulties resulting there-
fra°ro, has
~ been one of severe suffering, and but little
!,0
sweliei)crlit:iy4l e to the progress of life assurance, added to
la " partly owing to these causes, and. the unusua
of the seasons, the rate of mortality has been
greater than in the same given perio3 for many years.
if If
an
t, .
I eidetic, Y fling vrae required to. test
fthleifesoalisdsiutymonfoecails-
re be e tie on which the principle o
ic W-usuelud.pLtusbvfvictllladas the advantages of the system itself, it
If
of the in the ordeal through which this branch
I. tnontio economy has passed during the last twelse
la It'ie
takine , evident this impression is more than ever
, vatio;l' deep root amongst the general community. Pri-
yet it
,
h woeand euffering have indisputably existed, _
, been allowed to
ppear that fewer policies have
a lapsednn
ie when In any preceding period, however prosperous,
d and apthperebnei.n.efi,t.s of life assurance
ii The appreciated.
were less understood
a
been
rho
appparroegartel7 of the National Loan
.Fund has not
it causes.
it
societ .
no Ono .
_affected. be' thesienstaitduvteiorsne .
year since its first3, has the
setae imea made
.such decided and solid advances. Its. in-
/ t"tY to h, !Nubia two years, doubled; and. it is sausfac-
:nesseusrcae
bet:t:breed:his increase has been owing,
I it is , ache appreciation of the principles on which
and
i n a gteat
,
patronage which seem to meet encouragement
, "To sth.the more they become known..
UM be is development the attention of the directors
,en incessantly directed. Difficulties of no ordinary
c,thrown in their way. They are happy. 1
s. e r, to be able to state that they have been entirely 1
that 1 bow
n retlai tea ti te been
ll
iformer occasion it was stated by the chairman, 1
g
began toe ciples of the society had penetrated, and 1
a
beenzte • ,
a
i ~,," ekt that -"ROY appreciated, in other countries. i
ha
aeftegrt period little more than the commencement ,
(I::
aaarsr, 0
le but e 4gehneY had been made in the United States, and '
O of
obtained, either in regard to the 1
undertaken, or of the management and 1
0 mar of the agency. The directors found it neces- 1
2 Yto move • with extreme • prudence; each
-eceessi, extreme caution and . a
cot]; 30 tehiattepharfdas the result of success on the previous 1.
. eueeee oo
wh. anything occurred to destroy the con-
directora
ertealketinygm
welfare of have
been
'eh any arrangement had been built,.. theom ..c
or r
r. the • in a position to reuretr
without compromising the safety 1
The society.
now be considered as firmly este- e
beellisdhaed in the Canadas and the United States, under the e
bri,, 'ee of directors there of unquestionable station, '
ee; instaentlinee and wealth, and the management has 5
n,d„rero_osa,tnieeerecinffiuntscria(etglnt(!n,facined is at the same time as much. t
their n yourn directorsb i s
e o
uu t here).. as any one of i
~ :tisfy the views of the directors appointed to cun- 9
duct
ene
credit to
in New Yurk, and to give stability r
toLovre lit to the society, the directors have consented e
States, which
La•SUttl of money in the stocks of the United e
Sot equal' welch, although at the time considerable, is now "
Thiste,th„eone year's income derived from its business u
equal] sum is under a joint trusteeship, and is as t
.11',8(Zure as any other investment.
fnefrrtehde _rectors have been occupied with the extension,.
P
si.eciety in another direction. The plan of De- e
daring the published by the society has been, b
eious g the
e„, Past year, under discussion amongst the va- v
,o,,ees
It willabi'l of friendly and Benefit Societies. It was
~
this
lAP-..y for the benefit of the industrious masses that '
'of -Deferred Annuities was originally proposed. r
to reeeee,,f°ond to satisfy the wants of these classes, c
present i"2 the evils and correct the abuses of the vi
a
.
of e "'Perfect system. No class stand more in need
pre •
0
resource, 'ldent use being made of their spare 0
e ties at „„s-stione have to encounter such severe difficul- ! C
whose an advanced period of life, and yet there are none n
Cs_ .3e Precept resources are so fruitlessly employed,. or _
linPrOVidently wasted. The conviction (,f this fact is :
hatll3ing daily more extended. Experience has. proved
r friend,ese institutions, however useful as social and te
aly reunions or as sick clubs, can scarcely be relied
on as the stay and support of old age. n
" In order to connect more closely the society with , o
the three principal bodies, composed of about 600,000 y
1 individuals, and to understand the practical wants of b
those whose main resource depends on their own labour, 1 _
•
I the directors have organized a committee, composed of 1 t"
i
.
some of the active office-bearers, amongst these bodies, i ci
Ind whose labours have already commenced. d.
" The mortality amonest the assured has been greater u
i
' n the past year than ie any previous one, with t.he ex-
ception of the year 1843. Up to the end of 1845, the 01
decrement amongst the assured amounted to p:
85,757/. 14s. Since then, claims have been paid on s,
' twenty-six policies, amounting to 10,3121. 3s. Bd., being
less, however, than the expected mortality on the
theyear "
1•1' the sum of 5,2541. 16s. 4d., and of the whole
ex- tt
Pected claims since the formation of the society by ft
16,2821. 2s. 4d.
was tl
" At the date of the 1a5,55. These have since a(
last meeting the number of
Policies then issued 3
Augmented to 4,163, exhibiting an increase of policies ti
°I 613. The present income of the society is upwards
of 46,000/. II
e The Directors, in conformity with the deed of settle- it
went, have caused the annual investigation into the ft
affairs of the society to be made by the Actuary ; and it ,
I now presented, together with the accounts of the
athnditors, and will b_ e read. to the meeting. Following u
5 plan of distribution laid down in the preceding c,
Annual division of profits, of taking one fifth of the re- si
serve
aro fund for immediate distribution to the proprietors u
Po'sil?°lley-holders of five years' standing, the prosperous
tl
rvt:en of the society enables the directors, after re-
paer,C,4o per cent. of this sum, to divide amongst the tc
sie°yl.-hY."4lders entitled to this distribution, a reversion- ft
ter n-°.nUs, variying from 35 to 85 per cent. on the pre-
en
~
tith-: ; and to the proprietors a bonus of 3i per cent. "
5 ee--„' Past year, in addition to the regular interest of a
~ cent. already paid to them. el bib; she following table, prepared by the Actuary, ex- _
v,h•ts the amount of the five last annual bonuses., to beep tt the holders of policies of five years' standing have C
inee entitled, with the option of receiving the same t]
of
Annu Cash, or by addition to their policies, or in reduction v
al premiums :
---______ EXAMPLES. ii
Perms- Sum the t
I ; . Ann
ua Policy ' Bonus in
mint ate- Assured S
-It. e I:" Pre. 'taken
Bonus in duction of inraLlowir: u
,e Z rnium. lout iu
o assured. Sum
(ash. Annual
Polley. a
s•-s.
---,
£ a. d. £ a. d. t
1837 243 a.
a - a
3. 112 aS. - ,
5. 18 4 6, 19454
68 1g h
I 1838 sly 4 8 99 8 10 15 13 .
la 4 :" [I 1839 192 1 10 86 9
,34 13
1, 99
1 346395 121 I 2.,
-- loos 74 341 I 1840 1,34 154 1?2 tii 17 6 9 9 2 29f 13 4 u
I, 11814421 ill. 6849 10 710 4 247 481 ti

" There are now to be elected three directors in lieu
of John Elliotson, M.D., F.R.S. Clement Tabor, Esq.,
"(I Joseph Thompson, Esq., whose period of office has
expired, but who are eligible to
ibee re,-ele .ted. and offer
firctnation of the
themselves accordingly 7
Dailrseoettorr
election by the Court s of Henry FFnwich,
-c"cf, as a director in lieu of John Griffith Frith, Esq.;
and also two auditors, in place of Professor Wheatstone,
and Professor Graves, A M., F.R.S.. whose
Period of i,tlice has expired, but who, in like manner,
offer themselves for re election.
"Approved 11‘1, LheCA ,lE HURRAY, uiritloDiirßecßt(A)rls,
Chairman."
The balance-sheet for the year was also read.
The CHAIRMAN then rose and said. Gentleme„,_
Ilefore moving that the report which you have just
heardi read should be adopted, and printed and circu-
:ted amongst the proprietors, if any gentleman has
-;11Y question to put to me with respect to the society
4t'billee the last annual meeting, or with respect to any-
t-Q-444 contained in the report I shall be very happy
answer him.
1,\.11:° Proprietor having put any question,
I'lll--
-ehhe Cn mata lN said—l believe the report itself,
1.4'1 15
of unusual length, has entered into a
1 detail of the operations of the society during the
Past
c(-) It may be properly described as being
--`ntly in a state of formation and extension, and
Until it has arrived at that point when its progress
will
St" 1), when it will become stationary,
Which 1,
from the past progress of the so-
lo Y, I think must be remote, it becomes necessary
.°,r Yme to state to the proprietors from year to year
It': proceedings, Which are annually published in
6 newspapers, for the information of those not
Present; and therefore it becomes my duty
the present occasion to explain to you
It i 5
operations of the society during the past year.
it a duty of a pleasing and satisfactory nature, as
protnotes a better understanding between the
liclirectors •
and Proprietors, policy-holders, and the pub-
._ Ikre, inasmuch as all feel a deep interest in
iwleties of this kind; and, therefore, as a matter

• • involving- the security of so many individuals,
we have always thought it advisable to ex-
plain to the proprietors annually the nature of
our operations for the preceding year. This year
has ben one certainly of considerable stir`, ring
ll nevertheless the profits of this year are nearly double
the amount of that of last year.--(Hear, hear.)
Another drawback which we have had to contend
with is the expense to which we have been
put by the establishment of the agencies in
the United States referred to in the report,
which have fallen entirely upon this year. These
expenses are considerable, but the directors thought
it would be better, especially as the profits of the
society would allow it, to charge them upon
the current expenses of the year, instead of spread-
ing them over several years, as we did in the first
instance with respect to expenses of a like nature.
The preliminary expenses, in the first instance,
amounted altogether to 16,0001.; they have been
reduced to 9,0001., and i❑ the course of a few years
they will become extinguished. What I particularly
wish to direct the attention of the proprietors to is
this, tnat every year we have an annual inves•
tigation of our affairs—(Hear, hear)—that is one
of the original principles of the constitution
of this society. Before this society was established
the old societies adopted the plan of making an in-
vestigation of their affairs, and submitting the results
to their proprietors only once in five, seven, or ten
years. We considered that question very fully, and
we thought that by distributing the surplus
bonus, if any, every year to the policy-
holders, and allowing each individual insured
in the society to participate in the annual profits,
they would derive far more advantage from such
arrangement than if the society had adopted the
plan to which I have referred, and had waited to the
end of ten years before they were distributed. in those
societies which make a distribution only once in ten
years, the consequence is that some lucky individual
may get a very large share of the bonus, whilst those
who died before the declaration of the bonus, obtained
in their lifetime no advantage, owing to the length
of time which elapsed between one period and another.
This objection cannot be made to this society,
as holders of policies have all the advantages
which are derived from an annual distribution. I
trust, therefore, that the advantage which the society
offers will be made known by this meeting, and that
it will induce those who are about to insure their

lives to give a preference to this society. A more
equable division of the surplus profits is made, so that a
policy falling in during the year could only be deprived
of the bonus accruing between one annual meeting
and another.—(llear, hear.) I wish also to refer to
the successful establishment of agencies in the
Canadas and in the United States. The result of
the experiment has been a source of great gratifica-
tion to the directors. We felt that the extension of
the society abroad was attended by difficulties, and,
therefore, we had to exercise a great deal of caution ;
but as the principles on which the society is founded
had met with the most liberal support in this country,
we confidently believed that the same results would
attend it elsewhere, and we have not been mistaken,
as agencies have been established in the United
States; and we feel as much security in these agents
as if they were under our immediate control in
London.—(Hear.) There is another matter in which
I myself feel much gratified—as much gratified
as with any other part of our operations. The pro-
spectus of deferred annuities, early issued, embodied
the entire argument connected with friendly and
benefit societies. It pointed out the evils and
applied the remedy to the existing system. I had
made it for many years my peculiar study to trace the
exact nature of the evils inherent in these societies,
and in publishing the plan of this society I explained
my views of the subject, and I find that they have
been greatly acquiesced in by those thinking
persons who have bestowed their attention upon
the subject. I said that the subscribers to those
benefit societies did not receive the benefit from them
which they professed to afford. It is now six or
seven years ago since the plan which I proposed to
remedy those evils was published, and since it re-
ceived, I may say, the sanction of the general public,
without, however, drawing towards it any great number
of persons belonging to the class to which I have referred.
Certainly we have a great number of deferred an-
nuitants ; but, considering that it was designed to
afford to the working classes in general many ad-
vantages which they could not expect to obtain under
nt e old
t received
s 3
attention may be
supportl recently
from it
them has
ate
system,
at tt
of which it seems deserving. During the last
year the subject has been much discussed
t
by the Benefit Societies in England. A committee,
composed of zealous members of Friendly
so-
cieties, was formed. They had under consi-
deration every plan proposed, either by the Govern-
ment or by the various companies, for the purpose
of affording the working classes the best means of
providing for sickness and old age, and after this
society had requested the fullest investigation,
they came to a resolution, which they forwarded
to the board of directors, stating that, after the
fullest consideration of the merits of other systems,
they bad come to the resolution that nothing was so
advantageous to the working man, or to the indus-
trious classes in general, as the plan we had
promulgated.--(Cheers.) We had much difficulty
in convincing those societies that in fact subscriptions
for the purpose of creating a fund in sickness was a
waste of means ; and that the sums thus contributed
might be much better and economically laid out ac-
cording to our system than by allowing it to be a
sickness fund. The deputation that waited upon
us upon the subject wished us at first to expunge
that portion of the prospectus which had reference
to this subject, the inutility of providing a sickness
fund, and after much discussion we intimated to
them that the suppression of this argument would
amount to a suppression of our principles, and that
we could not do so with advantage to the society-
- (Hear, hear)—but, as many of the working
classes are much in favour of a sickness fund, al-
though they are paying away money for a purpose
which affords few of the advantages which this
institution offers, the directors considered that
two modes of providing for old age and
sickness might co-exist, and in fact should exist—
namely, a sickness fund, entirely separate from the
annuity fund, as the result, too frequently, was
this—that a man found, in old age, that although
he had been a contributor to the general fund,
he was eventually deprived of that advantage which,
'under abetter system, he might have enjoyed Toy con-
tributions from his labours, at a period in life when
he most stood in need of aid. I think, therefore, that
the tendency will be that these two departments must
be kept distinct. It was stated in the early 'part of the
establishment of this society, that our plan of de-
ferred annuities would destroy reunions. No such
thing. In fact, the constant reunion of the members of
friendly societies tends to promote the welfare of
the productive clashes, to diffuse amongst them the
kindliest feelings, and sustain them when the rights
of labour are invaded, and I am much in favour of
them because I think they are for their advantage.
We have not brought into the business of this year any
portion of those policies that have come to us from
these classes. They are new insurers, and are a body
in fact who will require almost a separate establish-
ment, but when you consider that there are at least
between 3,000,000 and 4,000,000 connected with
these friendly societies—a very large class to deal
with—and sufficient, if they insure to any extent, to
pay the expense of a separate establishment, to regu-
late the receipts and expenditure in connexion with
that department. For instance, the Manchester
Unity of Oddfellows, one of the largest so-
cieties in the kingdom, has about two hundred and
fifty-one thousand members, and their revenue is about
316,0001. a year, but that is only one society. I do
not wish to make any statement prejudicial to that
society, or to others of a similar nature, as I have no
desire to underrate the good which they unquestion-
ably effect, but I know from the accounts published
by this society of odd fellows, every year shows a
considerable waste of means, which I suppose, ac-
cording to their system is inevitable. But I ink
that the adoption of the proposal, we have submitted
to them, will greatly redound to their advantage
that their resources will be better economised,
and better and more profitably invested, than
by systems in force at present. I should
say, gentlemen, that I havte never addressed a meet-
s ing with more pleasure, with more pride, and

with more satisfaction than on the present occasic•n
(Hear, hear.) I can see now that our society is
tak:ng a position which very few societies have ever
taken in so short a time.—(Cheers.) We had great
success at first; we afterwards progressed more

slowly, and now it seems that unexampled pros-
perity hos tumbled upon us; and although last
year, as we all know, was one not likely to pro-
mote that prosperity, yet our prospects have
increased in an invene ratio to the distress which
has unfortunately prevailed. There will not, how-
ever, be the same pressure upon our expenses next
year as there has been during the last. The
difference is, as I have said, 9,0001., owing to the ex-
penses which have been incurred in establishing
agencies ; they will be less next year, and I
think we may also expect next year a larger bonus
than at present; and I should mention that a proof
of the confidence entertained by the insurers in the
society, is to be found in the number of policies is-
sued during the past year on the profit scale,
showing the opinion of the public of its great
advantages over those societies which only de-

dare their profits quinquinally, septenially, or
every ten years. I think that is the best proof of
public feeling. I should also state that the income is
43,239/.l4s.ld.,making with investmentnearly .50,000/.
InlB44the income was 22,695/.,lastyear it was 31,7211.;
therefore justifying the statement in the report, that
the income has been really doubled within the last
two years. Gentlemen, with great pleasure I will
now move that this report be adopted, and that it be
printed and circulated amongst the proprietors.
The motion was unanimously adopted.
The CHAIRMAN then moved seriatim the re-election
of the directors, whose term of office had expired, and
the re-appointment of the auditors. With respect to

the auditors, he stated that no society could possess
more careful or more conscientious auditors than

those they had the honour to possess. They were
well accustomed to the arduous and difficult duties
which they had to discharge, and it gave him, there-
fore, great satisfaction to state that they discharged
their duties in an able manner. They were both the
auditors of the Royal Society.
The motions were respectively agreed to.
Mr. ADCOCK said—l beg to propose a vote of
thanks to the chairman, and to the directors, for their
exertions during the past year.
Mr. HINTON seconded the motion. He said—l am
sure, gentlemen, after the able report which you
have heard read by the secretary, you cannot but be
of opinion that our worthy directors deserve the best
thanks for what they have done for the society.
The motion being unanimously agreed to,
The CHAIRMAN said—On my own part, and on
behalf of my colleagues who have taken a
Part in the labours of the past year, I beg
to return you our most sincere thanks.
I can assure you that we all feel an anxious desire to
make this institution the first of the kind in this
country, and I think we have done something already.
—(Hear, hear.) I think that all the difficulties which
we had to encounter at the establishment of the insti-
tution, are to a certain extent past. I think we shall
get something better every year.—(Hear, hear.)
The meeting then separated.

SCARCITY OF MONEY.
TO THE EDITOR OF THE SUN.

Sia,—During such a pressure as the mercantile com-
munity is now experiencing would it not be advisable to
facilitate the borrowing of money? Ido not know any
relief to be compared with the fellowing:—A man may
deposit his title-deeds, and give an engagement on a
2s. 61. stamp to execute a mortgage deed when called
upon to do so, but he can only be compelled to perform
his promi.e by a Chancery suit—suck is the beauty of our
law. Why not let a man authorise the party of whom
be borrows to enter upon and sell the property after a
certain time if the loan be not repaid according to agree-
ment? Nobody likes to take a security, however good,
which is unavailable without a suit in Chancery. I can-
not see why a man might not as easily pledge his free-
hold or leasehold property as his watch.
I am, Sir, your obedient servant,
A REFORMER OF THE LAW.

STATE OF THE COUNTRY.
TO TIIE EDITOR OF 7HE.SUIV,.

Sin—Will you permit me, through the medium of
your influential journal, to address a few words to the
public.
The alarming state of the country, attributable to the
scarcity of corn, and grievously aggravated by the insane
Bank Bill of 1844, does not appear to attract the atten-
tion it deserves and demands.

With absolute starvation for the masses of the people
staring us in the face—a starvation which nothing but
the miraculous interposition of Divine Providence can
avert—we see large quantities of corn almost daily
leaving our shores, under the belief that plenty more is
coming ; and Government, with an apathy and ignorance
wholly inexcusable, looking on with folded arms.
Mr. Editor, the fact I wish to impress upon your
readers is, not the self-evident high price of corn, but
the difficulty, if not absolute inability, of getting it at
any price, before the next harvest can be available.
If every grain that can be got is kept i❑ the coantry,
and the most rigid economy in its consumption practised,
there must still be want—woful and frightful to con-
template—throughout this and other countries.
The next four months will be remembered as a period
of destitution and distress unparalleled, and let us not
aggravate what is inevitable, by neglecting the ordinary
means of self-preservation.
I consider it unnecessary to trouble you with my
reasons for arriving at this conclusion, as they are
clearly shown in the signs of the times.—l remain, Sir,
YOUR CONSTANT READER.
King's Lynn, May 11, 1847.