The Sun.
London, England, 1817-12-12 00:00:00

Inent.

My plan may be illustrated by a single. position
let us, suppose a worthy young couple, having in-
dividually saved as much as justifies them in mar-
rying, by its sufficiency. in,setting them up in a
little Dusiness ; in the first year of their union

they, of course, draw out their property from, the
Bank, and their necessary outgoings prevent any
hew deposits for teat year ; in the second and fu-
ture years, theexpences of an increasing family
leave, perhaps; but littli,,for accumulation,. for
although when single the'spirit of saving fOr
posits, aided by the pleasing contemplation. of
annual interest increasing their store, may have
prompted them to deny themselves many in-
dulgences, yet the .stimulus is not sufficiently
strong to keep their purse-strings close,. when
the wishes of-their children, or even the harmless
vanity of the parent, shall prompt them to expend
the little weekly overplus..

Something further then is required whose sti-
mulus will prompt them to deny to their children
small and useless indulgences, and thereby to
form a little fund for their future welfare. That
stimulus, I conceive, 'would be found in a TON..
TINE engrafted upon the existing establishment by
Act of Parliament.

A simple calculation will slim the tempting re-
sults. Let us suppose that the parents of a child
deposit Sixpence per week from its birth, until
it is twenty-two years of age, then, on a rough
calculation,

Ist year's deposits -L. 1 6 0
Interest, at 4 per cent.
during the 2d year - 0 1 OT,-.
td year's deposits - • 1 6 0

2 1;3 Of
Interest - - - 0 2 1
3d year's deposits - 1 6 0

4 1
Interest - - - 0 3•8
4th year's deposits - 1 6 0

5 10 5
Interest - - 0 4 5
sth ye=a's deposits - 1 6.0

7 0 10
Interest - - - 0 5 7
6th year's deposits - 1 6 0

8.12 5
Interest - - - 0 5 6
it h }'ear's deposits - 0 1 6

10 3 11
•
Interest - 0 8 1i
6th year's deposits - 1 6 0

Interest -

9th year's. deposits

11 18 O
-0 9 6

Interest - -
10th year's deposits

Interest - - -
11th year's deposits -

Interest -
ii,th year's deposits

Interest - -
13th year's deposits -

Interest -
14th year's deposits -

1 G‘ 0

13 13 6
OIOILI
,1 6,0

Interest - -
15th year's deposits -

15 10 51
0 0 5
1 ' 6 0

17 8 10.1
0 13 11i
1 fi 0

19 S 10
0 15 6
1 6 '0

Interest 7 -
IGtli year's deposits

21 10 41
0. 17 Qi
I 6 '0

23 13 6*
0 13 II
1 6 0

R 5 18 5t
, 1 0 9
1 6 0

23 5 -24
1 2 (
6 0

Interest -
170 year's deposits

Interest -
18th year's deposits

30 13 9
1 4 6,i
1 0

33 4 3?
1 G 6
1 6 0

Interest - -
19th year's deposits

Interest - -
20th year's deposits

35 16 91
1 9 51
-1 6 0

Interest - -
21st year's deposits

38 12 s e
l'lo 10i
1 6 0

41 9 14
1 13 Ot
1 fi 0

Intcrest - -
22d yeir's deposits

L. 44 8 21

So that at the end of .22 years, even if all,the
Subscribers live, the child will receive 441. Bs. 2d
fur the sum of 271. 6s. advanced in weekly pay.
ments. Larger subscriptions may be calculated
by simple multiplication.
I am aware that many parents would object to
a Tontine, on account of the forfeitures of sums
advanced, in consequence of 'death ; but they,
ought to recollect that if their own children live,
this, instead of a lossovill be an advantage : and,

2* JOHN Bow .Es, Esq. whose able, pen has so often been
employed in supporting the best interests of our Country,
and of manlsjnd, has just published the fourth Edition of an
excellent pamphlet on this interesting subject, from which
we deem it our duty to take some extracts fp, the, course of
next weeli.:--(ED:)

if.thev die, the parent actually loses nothing. But
even, that objection might in certain degree be
obviated, as I shall presently chew.

My plan then would be to establish a General
and Central Tontine in-the Metropolis, by Act of
Parliament, puch a clause authorizing every exist-
ing and future legal Saving's Bark to become an
auxiliary branch on due rcgistration.. • ,

• The General Tontine should- trans-act no busi-
ness except, with-the • auxiliary branches ; each of
which, for security of cash and accounts, should
make annual remittance of sums deposited,
,toge-

Cher with a copy of the annual accounts ; at tilt._
same time sending an account of cash -remitted
to a-Board'of Control, which should enforce the -
expenditure of theinoney in the funds by the Ge-
neral Tontine Office.

Though th‘e sums would be subscribed to Snit,-
in o' Banks, yet •the TontMe should be one grand
aggregate, but in classes. . ,
On 'opening the. bOoks at - first, under each
auxiliary branch, there should be -six claises'; the
first from birth. to 3 years inclusire,•with division
‘4 the end of 21 years, by which means every in
dividual'in that class would lac of hill sage„.or the
calculation might be made up at-the end of 19
years,- allowing each individual, after that, to
Clairo.as- he comes of age, and, if tie dies between
the divisional calculation, and his own majority,
then his portion to go, to his heir.
The second class'irom 3 to 6 years inclusive, to
divide at the end of 18 years ; or, as with respect,
to the first class, at the end.of ..16 years, but wait-
ingindividual Majority for individual payment.
The other classes would then run,' in the 'same
manner, from 6 to 9 ; 9 to 12 ; 12 to 15 ; 15 to

18 ; but no further.
For the entry or names on the first. Tontine.,
one year shoadd he • allowed ; afte'r which any
person wishing to join any of those classes might
do so, by paying up a sum equivalent to the pay-
ments and interest already existing ; or he might
wait for the opening of a second Tontine account;
'at the end of three years—a new Tontine account
being opened triennially, going as far as No. 33
in the•fitst century, which are. dropping ,011, or .
being extinguished every three yeats, after the
first division should take place.
If it is judged inexpedient. to forfeit the whole
sum in case of deathe• then onehalf tnay be per-
mitted to return to a surviving parent.
If a parent begins with sixpence per week for a .
child, in any one efass, and wishes at the end of.
a few years to increase the deposit, then he may
be permitted to enterhim in a class corresponding
with his years, in the next opening Tontine; that:
is to say, if 'a parent begins with his new-born,
child at sixpence per week, in the first class of,
the first Tontine, then at the end of ten years, if
he-wishes to deposit one shilling_ per week; he may
open a new sixpenny account in the fourth class--
Vrom 9 to 12) of that triennial Tontine account,
which will open the -fourth in succession, and
.which will be when thechild is about twelve years
old.; or lie may enter him in the third Tontine,
paying the value of a share in that class calculated,
upon payments and interest, without reference to
deaths that may actually have taken placF. In
sfiort, each individual mey enter inw as, many
el.-..sses, one in each Tontine, as he pleases. In
order to encourage Depositors, an arrangement
might be made, by which a parent having three
children, and subieribing for two, might nomi-
nate the third incase of death, by transfer of the
stun paid, but %eithout the interest, to the class'.
agreeing in years with the new nominee, the pa-
rent paying up the interest to that class ; but this
would be matter of nice calculation.'
Should a parent, through neglect or absolute
want, omit his weekly payments, these might be
made up at the end of the year ; or should he
omit them for years, and again be able to resume
his deposits, then the temporary forfeiture should
he annulled, and the coild re-admitted upon the
hooks-, on payment of arrears and interest due and
accruing for the interval, with a small per cent-
age as a check upon negligence, whilst bankrupt-
cy or other well-authenticated distress might ex-
cuse from the payment of per ceutage as a pe-
nalty.,
Should a child be bereft of both parents, and
left without a friend to continue the deposits, then
the sum previously subscribed, with accumulating
interest, but without benefit of survivorship, might
be allowed to remain on the books in his name,
until he she becomes- of age ; or if the child,
at an intervening period, should find. a-friend to.
pay up the arrears and continue'the payments,
then the same should take place as already pro-
vided for in case of the parents' distresS.
No 'weekly [payments should be lesS than six-
pence ; and when the division takes place, it
should be regulated, not by the actual number of
survivors, hut by the sixpences in their quota—•
he that holds a sixpenny deposit being a one-share
holder ; a shilling depositor claiming for two
shares ; and so on, the deposits not to be limited
in extent, as the rich may thus be tempted to sub-.
scribe, whilst their mortality will be the poor
man's gain. •
It may even be permitted to parents, guardians,
or patrons, to subscribe the whole sum of sub-
scription at once, tinder circumstances that will be
a temptation to the one party, and generally fa-
vourable
,to the other.
Such, _Mr. Editor, are the oetlines, hastily
drawn up, .of a plan. which may become very effi-
cient, in conjunction with Seeing Ittirks. Should
you deem it deserving a place in your loyal: add
patriotic Journal. you will confer a favour on
Vour_old Cdrrespondent, .
IGNQTUS.