The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1838-05-01 00:00:00

DEF ERitED ANNUITIES,

XTATIONAL LOAN FUND LIFE ASSURANCE
SOCIETY

CAPITAL £500.000.

PATRON,
lIIS GRACE THE DUKE OF SO ERSET, F.R.S.
DIRECTORS,
T. LAM IE MURRAY, Es ~ hairman.
Col. Sir BurgesCamac,K.C:S. 0 ge Lungley, Esq.
John. Elliotson, M,D., F.R.S. I.l* neth Mackenzie, Esq.
C. Farehrother, Esq., Ald. `Jo n Rawson, Esq.
H. Gordon, Esq. L Joseph Thompson, Esq.
Robert Hollond, Esq.„.M.P.,
Auditor—Professor heatstonP. iff.li .S.
_

Physician—J. Elliotson, M.D., F.R.S., 37,C onCI uit-street.
Surgeon—E. S. Symes, Esq., 38, Hill-street, Berkeley-square.
Actuary—W. S. B. Woolhouse, Esq , -
Bankers—Messrs. Wright and C0.,5, Henrietta-street, Covent-
garden.
Standing Counsel—W. Milbourne James, Esq., Stone-build-
ings, Lincoln's Inn.

Solicitors—Messrs. 'Webber and Bland, 4.3, Bedford-row.
Secretary—F. Ferguson Camroux, Esq.
DEENRRED ANNUITIES.
I. Amongst the several remedies proposed to mitigate or di-
minish the burthen of poor-laws, none has hitherto been brought
forward or adopted that would either induce or afford facilities
to the able-bodied members of society, to be responsible for their
own support.
.11. In a state of employment and health evert one may be
assumed capable of self-support; competition has, no doubt,
reduced the rewards of labour to the standard of existence,
rendering it the more necessary that the smallest surplus, over
exigencies, should be carefully 'husbanded, in order that, by the
best facilities given to economy and the application of means to
ends, it may be rendered capable of supp Wing the deficiencies,
caused.by want of-employment, sickness, the several casualties
of life, and by old age. Over the frequent fluctuations in the
quantity of employment, the employed, have no controul ; and,
as the cause is not dependent on fixed laws, but most frequently
on the contingencies which affect the quantity of money, their
duration or occurrence cannot be submitted to calculation—at
any rate the remedy -is beyond their reach. The laws of sick-
ness have been sufficiently ascertained, for fixing. a provision
apportioned to the value of a given contribution; but although
such a provision is not to be overlooked, it is of trifling impor-
lance compared to the.hardships resulting from want of employ-
Mint, and unprovided old age. Want of employment, sickness,.
and old age, may fairly be classed under one head, viz., 4 slate
of ncm-productiveness. To tkose, therefore, who solely depend.
on their labour, which is seldom too highly remunerated, it must
be a matterof importance, out of their earnings when employed,
to provide for every period of non-productiveness, from which-
ever of the foregoing causes it may arise.
111. The two institutions open to the productive classes, are
Savings' Banks and Benefit Societies, whose nature and scope,
when examined, will be. found to offer but a very imperfect
remedy against the evil, being institutions wherein the limited
means of this class are not best made applicable to their several
-ends.

Savings' Banks are of uncinestionable utility, but they afford
no contingent future advantage, and, besides, the sum that can
be boarded is incommensurate with the wants of the middle
productive classes.
...
Benefit Societies proprise to offer provision. in-sickness and
old age, but their construction will be found;imperfect, and their
plac the least profitable application of.the.ineans of economy.
1. Because sickness itself is not i Calamity of equal probable
duration to the fluctuations in.lbe quantity of employment
and other casualties, uAmistortune, against which they
offer no- protectio.r".„.nry. -" , ' . -
a
2. Because, oat of iet)" means, the sum laid aside for
' sickness musticiltintsh the provision for old age.
3. Because man -must contribute to the sick fund who never
become chargeable upon it, and the value of such contri-
butions N lost to themselves and families.
4. Because sickness, being a state of non-productiveness,
must necessarily be included in any protection against
such an occurrence.
IV. Various observations, have been made on the duration of
sickness, amongst the industrious classes, from an,early period
of life until its close. Those most in use are—the sickness
amongst the Benefit Societies in Scotland, given by the High-
land Society;—the sickness amongst the labourers to the Last
• India Company's Service;—the sickness amongst persons em-
!ployed in Cotton, Silk, Wool, Flax, in the Potteries, by the
' Factory Commissioners ;—and the 3ickness amongst the 'Eng-
licit Benefit Societies, from returns made to the Soviet), for the
Diffusion of Useful Knowledge. - - •
These results, though varied, she.* how inconsiderable is the
amount of sickness during that period of life, between the ages
.0f..21.4- and his, when each individual is more immediately thrown
on hia own resources—they are as follows :

Average
amount of
Sickness.

Average yriy
Sickness in
the period.