The Sun.
London, England, 1847-06-10 00:00:00

ADDRESS OF TIE COMMITTEE.

Many praiseworthy but ineffectual Lttempts have been made to
bring within the scope and operation of the laws of mot tants' and
money the savings of the industrious classes, as well as various cal-
culations regulating their distribution, having for Glair object either
immediate, contingent, or deferred benefits.
A slight examination, however, will demonstrate that the con-
' struetion of these aaa.ciations or societies is defective; and that in-
stead of affording an easy access and a free choice of investment,
whicl• should be the privilege of every one, they confine too nar-
rowly the •aannel through which a benefit alone be secured;
and, in proportion as their action is circumscribed and embarrassed,
their utility is Amited. 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
pecuniary sacrifice ; white 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. Fur 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 fun,aions. and by confounding a sick allowance and
an annuity fund in one and the selt.same payment, that much of the
evils and tnismanagement 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 ~xurcised, and
none but the really sick are likely to become chargeable neon it.
But the same perfection, or the same se mrity, is seldom attainable
where a fund is to be accumulated through a succession of years,
and where results are to bear out calculations, money investment
being hi general beyond the experience of the industrious classes.
For tli-E.,Se reasons it is clear that the finals destined for a provision in
sickness should he kept entirely distinct trom the find intended as a
provision for oai age :
let uenusQ the laws of sickness and mortality, though apparently
connected, do not depend on the same calculation.
2d. Bs cause 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 assoetations, fluemating laws, and indiv dual 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 isodie .
4th. Because the expenses of providing for sickness must, when
naited in the same p *mein with provision for old age, tend to dimi-
nish still more this provision : nor ,s it wisdom or good policy to en-
danger the one for the sake 0, the other.
Impressed with these convictiena, 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 are here-
unto attached, have had several meetings. with a view of proposing
or adopting a remedy fin* those and other evils ; and in this manner
to give an ad itional force to the principles of brotherho d, unity,
and mutual aid, on which friendly societies are based, by guarding
them horn the risks of swine. dissolution.
After much diligent search anion st the combinations ingeniously
proposed from time to time for the attainment of one of the principal
objects of Friendly and Benefit Societies, they have round none equal
in simplicity and comprehensiveness of design, as well as fore bought
and sympathy for the wants 01 the industrious classes, as th plan
proposed by the. National Lo-:n s'und Lite :assurance Society. elt is
true that the author of that plan has furnished an argument against
provision in sickness; but, without concurring in the immediate ex-
pediency o abandoning a provision in sickness, no one can read the
other Tirol of the plan itself, without being fully saisfled that the
conven-ence and safety of Friendly and laenent Societies will be
greatly secured and consulted, by separating the payment of a sick
allowance from an annuity for old 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 clas:ies in general, resolutions have been entered into, con-
stituting the undersigned as a Committee, with power to add to its
number, for the promulgation of the benefitsi contained in the an-
nexed prospectus, under the guarantee 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.
Thomas Burthom, P.C.R., Ancient Order of Foresters.
John Fussell, C.R„ Ancient Order of Foresters.
John H. Gordon, Ancient Order of Foresters.
James Hale, D.C.R., Ancient Order of Foresters.
Henry Hunt, P.G., Manchester Unity of Odd Fellows.
Jo. eph Nugent, Pro. C.S., Manchester Unity of Odd Fellows.
Joseph Reeks, 8.0. F., Order of Old Friends.
Samuel Timbrell, D.C.R.. Ancient Order of Foresters.
DEFERRED ANNUITIES.
Example.—A persot, aged 24 next birthday, by the annual pay-
ment of 11. Gs., or quarterly payment of 75., or monthly payments
of 2s. 2d., may secure, on attaining the age of 60, the option of re-
ceiving Annuity, 101. 19s. 2d. ; Cash down, 107/. 3s. ; or a Policy
on his Life, 1371. 17s.
Example.—A person aged 26 next birthday, may secure, on at-
taining the age of 60, an Annuity of 101., with the other options, by
the annual payment of I/. Gs. 94., or a single payment of 22/7 3da
or on payment of Gl. 145. ad. for disparity, he will be entitled to
the same benefits by an annual payment of 18s. 1 id., the same as
or age 20.
Example.—A person aged 30 next birthday, by the annual pay-
ment of 1/. Gs., or quarterly payment of 75., or monthly payment
of 2s. 24., may secure on attaining the age of 65, the option of re-
ceiving Annuity, 181. Os. 44.; cash down, 1481. 12s. ; or a policy on
his life 1751. I Is.
Exam .le.—A person aged 35 next birthday, by the annual pay-
ment of 11. 65.. or quarterly payment of 75., or monthly payment
of 2s. 24., may secure, on attaining the age of 65, the option of re-
ceiving Annuity, 18/. Os. 4d. ; cash down, 1481. 125.; or a policy on
his life, 1751. 11s.

LIFE ASSURANCE.
Exam sle.--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 t.f Profits, by the annual pay-
ment of V. 9s. 3d.
Example.—A person at the age of 25 next birthday, by the pay
ment of 4s. per month, or Is. per week, may secure the sum of
1121 ss. payable at nis death, whenever it may happen, and like-
wise share in the annual profits of the Society.
F. FERGUSON C .M ROUX, Secretary.

BANK of Bqtrtsa Noun' ,ERICA.
INCORPORATED BY ROYAL CHARTER.
The Court of Directors hereby give notice, that a HALF-YEARLY
DIVIDEND, at the rate of 6 p r cent. per an, urn on the Capital of
the Bank, will be payahle to the Proprietors of Shares registered in
this cowl ry, on and atter the sth of JULY next, at the Office of the
Corporation, 7, Si. Helen's-pace, Bt.hopsgate-street, between the
hours of 'Pen and Four. No t:•anslcr can be made between 15th
instant and sth proximo, as the books must be closed during that
period.

By order of the Court.
G. DE B. A IsTWOOD, Secretary.
7, St. Helen's-place, London, Julie, 1547.