The Sun.
London, England, 1842-07-04 00:00:00

PUBLIC FIST NESS.

On Friday evening a meeting of Ministers and Gentlemen
connected with several of the Dissenting Congregations in
London, was held in Devonshire-square Chapel, 13ishopsgate-
street, to consider the present alarming distress and destitution
so generally pervading the country, and to arrange the prelimi-
naries for a general meeting to be held during the ensuing
week, to devise the best means of alleviating it.

T. W. ALEXANDER, Esq., a memberOf the Society of
Friends, took the chair at seven o'clock precisely.
Mr. CARLISLE, Secretary to the Provisional Committee,
said the present meeting was held in con,equenee of the reso-
lution of a meeting convened on Friday, the 22d ult., which
stood adjourned to this day. Its object was to consider the
best means of bringing before the public in strong relief the
present appalling misery under which the labouring classes
were pressed down. Perhaps in this stage of the proceedings
the best course to adopt would oo for Mr. George Thompson,
who with himself appeared on behalf of the Delegates at present
sitting in Palace-yard, to read extracts from the communica-
tions which were addressed to the body from different parts of
the country, descriptive of the distress which prevailed.
Mr. GEO. Timairsox rose and said he should read a few
brief extracts from a vast number of communications addressed
to the body which he and Mr. Carlisle had the honour of re-
presenting at this meeting, by several gentlemen who had the
best means of acquiring authentic information respecting the
state of the population in the manufacturing districts. Mr.
Thompson then proceeded to read an extract from a letter from
Sheffield, which stated that the American packets brought the
most discouraging news for the manufacturers, and that the
people, who were a short time back in a comparative state of
independence, were now obliged to seek refuge in the
workhouse, in consequence of the decay of trade.
Some time back the writer was able to employ
700 men, but now in consequence of the laws which prevented
the free exchange of labour for the commodity available to
those with whom the commerce of England was c trried on,
that number was reduced to 200. An assurance had been given
to him from an eminent American capitalist that if he were to
emigrate to America with tools and expert artisans able to train
others, a certainty of making an ample fortune awaited him.
The love of father-land, su inherent to Englishmen, prevented
him accepting the offer, but if times continued getting worse,
es they had done for the last few years, a sense of duty towards
his family would compel him to seek another and more profit-
able field for industry and enterprise. Mr. Thompson con-
tinued to read several letters from Wigan, Congleton, Auch-
terardar, the iron and pottery districts in Staffordshire,
from Knaresborough, and from Wakefield, all detailing scenes
of the most soul-harrowing misery. The letter from this last
named locality stated that during the winter months numerous
families lived upon turnip-tops, and detailed the cases of some
families who derived subsigtence from the wages of their chil-
dren, at present employed in the coal pits, who, if Lard Ash-
ley's Bill were to become law, would be thus deprived cf all
means of support. Ile should confine himself to the extracts
which he now laid before the meeting ; but Ise regretted to be
compelled to state that this was but a fraction from numbers of
letters which the Committee received, and which had been
handed to many Members of Parliament, in order that they
might be able to substantiate the facts stated by Mr. Wallace
in his motion that evening in the Homo of Commons.
In reply to Mr. Reban, Mr. Tiinairsa.nt stated that the dis-
tress in the agricultural districts was nearly as pa;nful jis in the
manufacturing ones.
After along and desultory conversation,
Mr, C.aiti,i.st.E proposed thefollowine•' resolution, which was
seconded by Mr. SPt,V., and passed unanimously :—" Re-
C F
solved, That a meeting of pefsons of all religious denomina-
tions be held at the Finsbury Circus !lapel, op riday, the
Bth day of July next, relative to the present alarming distress
now so prevalent in the country."
A provisional Committee having been appointed to arrange
the preliminaries previous to next Friday's meeting,
Mr. GEO. Tiloairsotc announced that the delegates met on
Tuesday next, at two o'clock, at Brown's Hotel, Palace-yard.
Shortly after which the meeting separated.

• LIFE INSURANCE,
• .•
The importance of life insurance, and the interest
created by the remarks which appeared in our May
number, induce us to recur to the subject. We then
pointed out the improvements which have lately been
introduced into the practice of insurance, rendering
it less exclusive, and better adapted to the various
purposes and interests which have grown out of an
improved state of civilization and an enlarged sphere
of business transactions. We showed that persons
labouring under known complaints, and persons going
to different parts of the world might, contrary to the old
practice, be subjects of British assurance; that means
had been discovered whereby a creditor might obtain
a policy which could not be endangered by the acts
of the debtor, and that there was one Life Company,
the London, Edinburgh, and Dublin, whose policies
were rendered indisputable by their deed of constitu-
tion. We were necessarily led to the conclusion,
that these improvements were not only highly proper,
but that the assured were not placed in a fair and
equitable position in transacting business with Life
Companies who refused to adopt those improvements.
As intimately connected with and vitally affecting
money transaction policies, and all assurances which
may come to be the subjects of transfer for-value, the
question how far a party has acquired a legal interest
in, or a right to a policy, is a matter of deep im-
portance. It is proper and salutary that persons should
not be permitted to speculate and gamble upon the
lives of others, and that no one should be permitted
to obtain a policy upon a life of a person in whose
existence he has no pecuniary interest. This gave rise
to the Act 14 George 111., ch. 48, an Act in force in
England and Scotland, but not in Ireland, which was
introduced for the purpose of preventing " a mis-
chievous kind of gambling," by making insurances on
lives or other events wherein the assured has no in-

,erest. A very enlarged and different construction
has been put upon this statute. Courts of law have
ruled, that although the persons on whose life the
policy was granted was indebted to the assured in
the full sum contained in the policy, and although.the
assured shall have regularly paid the premium for a
long series of years, yet he shall have no claim against
the assurers except for the precise amount of the sum
which may be due to him by the original debtor
when the claim comes to be made against the Com-
pany ; that if the whole, or any part of the debt, shall
have been liquidated during the currently of the po-
licy, the assuring Company shall have the advantage
of that, and be entitled to a total discharge, or a de-
duction of a like amount from the claim against them.
The question betwixt the assurers and the assured is,
therefore, not whether the policy was fairly obtained
for the security of a sum truly due when the policy
was granted, but what, after an accounting between
the executors of the deceased and the assured, is the
amount of the claim of the latter. There is no doubt
about this being the law of the case, it having been
frequently so decided. In the case of " Godsoll against
Boldero," these views, so unjust to the assured, were
carried out to their fullest extent. An assurance had
been effected upon the life of the celebrated Mr. Pitt
to cover a debt. The assuring Company, in considera-
tion of the premiums, became bound to pay the sum
assured within three months after the death of Mr.
Pitt should have been duly certified to them. The
plaintiffs, who were the assured, averred that at the
time of making the assurance, and from thence until
the death of Mr. Pitt, they were interested in his life
to the amount of the sum assured, and that they duly
paid the premium. These averments were not denied;
but the plaintiffs having received payment of their
debt, after Mr. Pitt's death, from hia executors, the
Company contended that, in terms of the statute
before referred to, they were released from their obli-
gation to pay. Here, it will be observed, the interest
was not only originally fair and complete, but that it
continued until after the death of Mr. Pitt, which was
the event insured. Lord Ellenborougii decided the
case in favour of the Company. We cannot dispute
that this is law ; but it was obviously not a just or
equitable settlement of the question between the as-
sured and the assurers. The Company do not calcu-
late their premiums upon the chance of the ultimate
solvency of the person whose life is assured. They
charge and receive payment, in the shape of pre-
miums, for payment of the total sum in the policy ;
the probability of life is their ground of calculation,
and having been paid according to that calculation, is
there any justice in permitting them to get rid of
their obligation on the ground that another party is
able and may be forced to pay the debt ?
The injustice which may be done under the sanc-
tion of this statute, which appears to have been framed
for a totally different purpose, is so great, that Direc-
tors of Life Companies may be induced verbally to
state that their Company would not avail themselves
of it. This, however, is not a sufficient protection to
the public. Life Companies may not consider it to
be for their interest at present to take advantage of
what is so manifestly unjust, or they may, and cases
have occurred where they did, plead the statute upon
the pretext that the assurance was in other respects
faulty ; but as they' could not succeed in making that
appear, except to themselves, they pleaded want of in-
terest in the assured, and thus obtained what they
considered justice by means of an unjust defence.
Policies on the lives of others are the daily subjects
of sale, and an inquiry as to the continuance of the
original debt, for the security of which they were
effected, is seldom entered upon ; which shows the
extent of confidence which Life Companies have
gained by their fair and honourable conduct. We
have pleasure, however, in referring to a Life Com-
pany, the only one known to us, who openly and
expressly repudiates the Act 14th of George the
Third. We quote from the London, Edinburgh, and
Dublin Life Company's prospectus :—" The ordinary
rule is, that if a creditor be paid his debt before the
policy becomes a claim, he loses the benefit of his
policy, and the premiums which he has paid become
forfeited to the office. This Company repudiates all
such unfair advantages." The interest of the public
requires that all Companies should adopt the same
rule, and that they should publish it in order that they
may be bound to follow it. Polytechnic Journal.

IRELAND.
THE AIARCHIONESS OF WATERFORD.
(From the Nenagh Guardian of June 30.)
The hlarquis himself is very seriously injured—some of his
ribs are broken, and one of his arms is dislocated. Much fear
is entertained of the internal injuries which he has received in
the fall.

CLONMEL, TUESDAY EVENING.—The reports to. day state
that the Marchioness of Waterford is " a little better." It is
also asserted that if she recovers she will be much disfigured.
She was a most exquisite beauty.
(From the Waterford Chronicle of June 30.)
On Tuesday we expressed a hope, which now, thanks be to
God, is realised, that we should on this day have the pleasure
of announcing that the Noble and amiable Lady of Curragh-
more was beyond all danger ; such is the pleasing and gratify-
ing fact. The following bulletin was issued on Tuesday morn-
ing by the faculty in attendance:—
" Curraghmore, Tuesday morning, half-past nine o'clock.
" Lady Waterford passed a tranquil night, is sensible of all
surrounding objects, and is progressing as well as can be ex-
pected.
"J. F. PURCELL, M.D. JOSIAH SHYLY, M.D.
JOHN BRISCOE, M.D. JOHN Cosacx, M.D."
Since writing the above, we have received a copy of the fol-
lowing bulletin :
" Curraghmore, Wednesday morning, ten o'clock.
" The Marchioness of Waterford has passed a quiet night,
complaining of some pain in her head, but is free from fever.
[Signed as above]."
Lord and Lady Stuart de Rothesay, the father and mother
of the ;Marchioness, and some other members of the Noble
Lord's family, are expected at Curraghmore this week.
MR O'CONNELL—MINISTERS' MONEY.
The following letter has been received in Cork from Mr.
O'Connell : " London, June 25,1842.
"Dear Sir—l am very glad you have placed your petition in
the hands of my friend Sergeant Murphy. You could not
have placed it better. I will give him all the assistance in my
power, which, after all, will do you.no kind of good.
It grieves me to see how totally unacquainted the people
of Ireland are with the tone and temper of the present House
of Commons. There is not the least possibility of their giving
a favourable, or even a patient, attention to anything valuable
to Ireland. According to the vulgar phrase, you may as well
be whistling jigs to mile-stones' as addressing the present
House at the present time, to deprive the Established Church
of a single pound. I believe it will be impossible to make a
House for your motion ; and if it were made it would soon
drop. This is what I want to have understood in Ireland—
the total recklessness of Irish grievances in the present highly
Tory House of Commons ; besides there is but one day in each '
week devoted to motions, the other four days (there is no sit-
ting on Saturday) are given to Government business.
" Sergeant Murphy and I have been more than once talking
on your business, and saw no prospect of making any impres-
sion this session. However, if he tries, Irwin support him man-
fully and heartily.
" We never will do any good until the Parliament is in
College Green.
" I have the honour to be your faithful servant,
"DANIEL O'CONNELL.

" D. O'Flyn, Esq. , Sec., Anti-Ministers' Money Committee."
BELFAST ELECTION INQUIRY.—Last Friday evening Mr.
Coppock, agent for the Liberals arrived in Belfast, for the pur-
pose of obtaining witnesses to be examined before the Com-
mittee of Inquiry in the House of Commons. He remained
until yesterday, when he left per steamer, for London, accom-
panied by sixty or seventy persons whom ho had summoned.—
Belfast indicator of Wednesday.