The Sun.
London, England, 1847-03-13 00:00:00

ADDRESS OF THE COMMITTEE

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Many praiseworthy but ineffectual attempts have been made to
bring within the scope and operation of the laws of raw tAlity and
money the savings of the industrious classes, as well as various cal-
culations regulating their distribution, having for their object either

immediate, contingent, or deferred benefits.
A slight examination, however, will demonstrate that the con-
struction of these associations or societies is defective; and that in-
stead of affording an easy access and a free-choice of investment,
which should be the privilege of every one, they confine too nar-
rowly the channel through which a benefit can alone be secured ;
and, in proportion as their action is circumscribed and embarrassed,
their utility is limited. For example, it is not to every individual,
or to every class amongst the industrious community, that provision
in case of sickness is an object of such importance as to call for a
pecnniary sacrifice ; while to others such a provision appears more
attractive, and the loss of employment caused by sickness is a risk
against which they desire to be guarded. For this anomalous state
of things there is an effective and simple remedy ; that is to say,
instead of covering, by one weekly or annual payment, two or more
contingent or deferred benefits, so to arrange it that each separate
benefit should have its separate contribution.
It is to not having observed this rule, and to the association of
two dissimilar functions, and by confounding a sick a►lowance and
a•t annuity fund in one and the self-same payment, that much of the
evils and mismanagement has arisen amongst Benefit Societies.
No mechanism can be so perfect for the management of a sick-
; ess-fund provision as that afforded by the constant sectional asso-
ciation and watchfulness of the several members composing it. By
this means a thorough and constant check is mutually exercised, and
none but the really sick are likely to become chargeable upon it
But the same perfection, or the same security. is seldom attainable
where a fund is to be accumulated through a succession of years,
and where results are to boar out calculations, mosey. investment
being hi general beyond the experience °film industrious classes.
For these reasons it is clear that the fends destino.l :or a provision in
sickness should be kept entirely distinct from the f..nd intended as a
provision for old age :-
Ist Because the laws of sickness and mortality, though apparently
connected, do not depend on the same calculation...
21. Because there are a great number who, in order to secure a
larger provision in old age are willing to .take the risk of providing
for probable sickness on themselves..
3d. Because the responsibility of managing.a provision for old age,
continued to a distant period is, in a great measure, incompatible
with voluntary associations, fluctuating laws, and individual irre-
sponsibility, and more exposed to a failure in the performance of
such a contract, that when undertaken on the same principles that
ordinarily govern commercial todie:.
4th. Because the expenses of providing for sickness must, when
united in the same payment with provision for old age, tend to dimi-
nish still more this provision : nor is it wisdom or good policy to en-
danger the one for the sake of the other.
Impressed with these convictions, and with an intimate knowledge
of the discussions passing within the bosom of many of the existing
Friendly and Benefit Societies, the parties whose names aro here-
unto attached, have had several meetings, with a -view of proposing
or adopting a remedy for those and other evils ; and in this manner
to give an ad litional force to • the principles of brotherhood, unity,
and mutual aid, on which friendly societies are based, by guarding

them from the risks of sudden dissolution.
Atter much diligent search amonAt the combinations ingeniously
proposed from time to time for the attainment of one of the principal
objects of Friendly and Benefit Societies, they have found none equal
In simplicity and comprehensiveness of design, as well as forethought
and sympathy for the wants of the industrious classes, as the plan
proposed by the National Lo-us Fund Life Assurance Society. It is
true that the author of that plan has furnished an argument against
provision in sickness; but, without concurring in the immediate ex-
pediency otiabandonitig a provision in sickness. no one can read the
other par t of the plan itself. without being fully
.sa'isfled that the
conven ence and safety of. Fr:endly and Benefit Societies will be
greatly secured and consulte I, by separating the payment of a sick
allowance from an annuity for bid age.
A deputation having'waited on the directors of the National Loan
Fund. who,met in the handsomest manner the overtures made to
them for the establishment of a separate office for the transaction of
business connected with Friendly and Benefit Societies, and the in-
dustrious classes In general, resolations have been entered into, con-
stltuting the undersigned as a Committee, with power to add to its
number, for the promulgatlon of the benefits contained in the an-
nexed prospectus, under the gnarantee of the Capital of the society,
and which, without interfering with the numerous objects connected
with the institution of Benefit and Friendly Societies, will in their
opinion greatly enlarge their sphere of utility, and afford a protection
to the working classes in old age and adversity, which nothing up to
the present day has adequately secured to them.
oofrFepstreersa
JTohhenmFa.us
.Reuirit,hco.mit,,,PA.Cn.clll Ancient Order of Foresters.
James Hale, D.C.R., Ancient Order of Foresters.
John H. Gordon.D.S., Ancient Order OerrtioefrF, Foresters.
Henry Hunt, P.G., Manchester Unity of Odd Fellows.
Joseph Reeks, 8.0. F., Order of Old Friends.
Jo. eph .Nagent, Pro. C.S.. Manchester Unity of Odd Fellows.
• .DEFERBED ANNUITIES.
Samuel Timbre% D.C.R., Ancient. Order of Foresters.
Exampie.—A person aged 24. next .birthday, by the annual pay-
ment of 11..65., or quarterly payment of 75., or monthly payments
may assure, on attaining the age of 60, the option of re-
-23 • Cash down, 1071. Zs. ; or a Policy
on his Life, 137/. I7s.
ocefiv2isn.g2dAlnuity, 101. 195. •
Example.—A person aged 26 next birthday, may secure, on at-
taining the age of 60, an Annuity of 10/, .witb.the other options, by
the annual payment of I I. Gs. 93., or a single payment of 221. 17s. 3d.:
or on payment of 61. 14s. ad. for disparity, he will be entitled to
the same benefits by an annual payment of 18s. I Id., the same as
for age 20.
Example.-1 person aged 30 next birthday, by the annual pay-
ment of 11. 65., or quarterly payment of 75., or monthly payment
of 2s. 2d., may secure on attaining the age of 65, the option of re-
ceiving Annuity, .181. Os. 4d.; cash down, 1461. 12s. ; or a policy on

his life 1751.11
Example.--A person aged 35 next birthday, by the annual pay-
ment of 11. 65., or quarterly payment of 75., or monthly payment
of 2s. 2d., may secure. on attaining the age of 65, the option of re-
ceiving Annuity, 181. Os. 4d. ; cash down, 1481. 12a. ; or a policy on
his life, 1751. lls.

. LIFE ASSURANCE.
Example. —A person at the age of 30 next birthday may secure
the sum of 1001. payable at his death, whenever it may happen, and
also participate in the Annual Division of Profits, by the annual pay-
-cent of 2'. 9s. 341. .
Exam..le.—A person at the ago of 25 next birthday, by the pay-
ment of 44. per month, or Is. par week, may secure the sum of
1121.55. p zy.th'e at nis death, whenever it may happen, and like-
wise share in the annual profits of the Society.
F. FERGUSON CAMROUX, Secretary.

Till] INDIA AND LONDON LIFE
ASSURANCE COMPANY,
17, CORNIIILL, LONDON.
Richard Hartley Kennedy, Esq , Chairman
George William Anderson, Esq., Deputy-Chairman.
Invalid Lives assured ; also—
Select Lives—including the Lives of Naval and Military Officers
proceeding to er resident in India, or other parts of the world.
Indian rates of premium much lower than in any existing Com-

pang..
Assurances effected daily, on apprication at the Office.
A half-preintuin (not half credit) table for select lives, whereby
half the amount of premium only is required to be paid during the
first seven years. The unpaid half-premiemsdo not &institute a debt,
therefore uo interest can be charged, or any reduction made, when
the policy beconics.a. claim.
GEORGE N. WRIGHT, MA., Manager.

NIETROPOLITAN. LIFE. .ASSURANCE
SOCIETY,- No. 3, PRINCES STREET, BANK.
Established in .1835.
DIRECTORS. • • • • • •
Thomas Henry. Hall, Esq.
Frazer B. Henshaw,. Esq.
John Francis Illaubert, Esq.
Joseph Pease, Jun., Esq.
Henry Sturt,Esq.
John Taylor, Esq.
Joseph Underwood, Esq.
George Vaughan, Esq.
Charles Frederick Weber, Esq.
upwards of 60.0001.
premiums 300,000/.
nce, abates the premium, to its
; the reduction for the current

John Allaird, Esq. • . •
Richard Low Beck, •Esq.
Edmund Chas. Buxton, Esq.
Sir William Clay, Bart., M.P.
James Dawson, Esq. • • • •
Thomas Fowler, Esq.
Francis Fox, Esq.
Joseph Fry, jun., Esq.
Robert Grant, Esq.
Annual premiums

Accumulation from

This Society for mutual assure]
members, after the first five year
year is at the rate of 4714 per cent
London, 1846. RICHARD H

E TIIFIELD, Superintendent.

tJNITED KINGDOM LIFE ASSURANCE
COMPANY.— 8, Waterloo-place, Pall-mall, London : 97,
George-street, Edinburgh; 12, St Vincent-place, Glasgow ; 4, Col-
lege-green, Dublin. Established by Act of Parliament in 1834.
In 1841, the Company added a bonus of 2 pet-Cent. per annum on
the sum assured to all policies of the participating class, from the
time they were effected. Parties wishing to secure the benefit of the
next divisio3 of profits in 1848 should make immediate application.
When the Insurance is for life, only one half the Annual Premium
need be paid for the first 5 years.
Every information will be aftarded on application to tke Resident
Director, E. Lennox Boyd, Esq.,l No. 8 Waterloo-place, Pall-stall,
London, where Prospectuses, &c., may be had.

NEW SHARE and MONEY MARKET,
ROYAL EXCHANGE, LONDON.
SEVERAL THOUSAND SHARES WANTED, AT GOOD
PRICES,
Daily Share Lists are publicly exhibited'at the TRANSFER-OFF' CE,
facing Cornhill, and will be sent to any partof the Kingdom ou appli-
cation. Detailed Lists may also be had at 114, Cheapside ; 25, Strand ;
32, Uockspur-street ; 53, Piccadilly ; and 191 Oxford-street.
Stevens, Hansard, and Co., Transfer-office, 5, Royal Exchange,
London.