The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1844-11-12 00:00:00

TO THE EDITOR OF THE LIVERPOOL STANDARD,

SlR,—The other day, while sauntering along the streets,
thinking of nothing, my reverie was disturbed by the loud
talking of two men, which was wound up by one telling
the other that John Snooks was a regler humbug. This
instantly diverted my thoughts into a new channel ; I had
scarcely time to consider what humbug really was, ere my
attention was again arrested by hearing a lad say to an-
other, " Never mind him, Bob, he's only humbugging
you." A little further on, I observed two women stand-
ing by a gin shop, wiping their mouths, " I tell you what,"
said one of them, " it's all humbug to say he can sell good
stuff at that price." At the door of a charity school, a
little girl stood yelping and crying, I inquired what was
the matter, she said, ' it was all hnmbug sending her to
school; she couldn't, and she wouldn't learn her letters,
and she'd tell her mother so, when she got home." Well,
thought I, this humbug is a curious thing, when I was
once more aroused by a friend tapping me on the shoulder
and saying, with a rueful countenance, " It's all up with
me, that humbug, Sam Earwig, has humbugged me out of
my money, by humbugging me into buying his cursed
jerry-built houses." I had just fairly got into motion
again, when I was accosted with, " Well, Dick Bore has
humbugged me out of my vote by the promise of a £5
note, and he actually laughed in my face when I told him
he was a downright humbug. ' Why,' said he, with a
vicious grin, ' you surely are not so jolly green as not to
know that electioneering is sheer humbug from beginning
to end ?' " So, thought I, I'll just get out of this hum-
bug, and take a cup of coffee. I had just raised the be-
verage to my lips, when a customer said to the waiter,
" Why, you confounded humbug, what the d—l do you
call this stuff ? it's nought but chicory." I involuntarily
dropt the cup, and rushed out of the house. Humbug !
humbug ! I thought I, the world is surely made op of
humbug. Men do not go courting, but they humbug
their sweethearts, and wives humbug their husbands.
Merchants and tradesmen make their money by humbug •
the statesman gets on by humbug; the newspapers keep
up party spirit by humbug; clerks progress with their
employers by humbug; books are puffed into sale by
humbug; lawyers humbug their clients till they humbug
them out of the oyster; speeches in parliament are all
humbug ; the very children take in humbug with their
mothers' milk. I have always blundered on in a straight-
forward course, and been soundly humbugged, and yet
never seriously thought of humbugging in return; 1 must
begin ; upon whom shall I make the first essay ?
W. G. P.
Toxteth-park, sth November.

BUILDING SOCIETIES.

TO THE EDITOR OF THE LIVERPOOL STANDARD.

SlR,—Among the many and various schemes that the
mania for joint-stock companies has engendered, none
have been more successful (in obtaining shareholders at
least) than Building Societies. This is not to be won-
dered at when we consider the smallness of the monthly
subscriptions, and the other inducements held out to that
class of the community least able to detect the fallacies of
their delusive reports.
That too many of these societies are mere gambling
speculations, without the fairness of games of chance, is
easily proved ' • for what other name can be given to pro-
jects, where three-fourths of the profits are dependent on
the chance of the poorer shareholders being unable to
pay up their subscriptions.
It would occupy too much of your columns to copy a
prospectus, but they all promise the same thing, viz.,—
that for every 10s. paid monthly, or £6 a year, for a term
of ten years, £l2O will be returned at the expiry of that
time—thus doubling the capital. That this is impossible,
unless by means of fines and forfeitures, the following
calculation will show ; and as it would be invidious to
name anv particular society, I will suppose an imaginary
one of 200 shares :

X. s. d.

200 shares, at 10s. each per month, is £lOO ;
this monthly for ten years is
And they promise that the profits will be 12,000 0 0

Thus in ten years the stock will be.. 24,000 0 0
But £lOO paid monthly for ten years, with
interest and compound interest at 5 per
cent. (deducting the very moderate sum
of £5O a year for printing, stationery, se-
cretary's salary, and other expenses,) will
only amount to 14,824 12 0

Leaving a deficiency of..

£ 9,175 8 0

The above calculation is far too advantageous to the
society, as I have made it on the supposition that each
payment bears 5 per cent. interest from the very day it is
paid—that they borrow no money—that all their securi-
ties are perfectly good—that they have no lawsuits, and
of course no law expenses—and, indeed, that they suffer
no losses of any description. Now every one conversant
with these societies is aware that they are all subject to
one or other of the above drawbacks. Had I allowed for
them, the balance would have been considerably more.
But, with all these advantages, there is a deficiency of
£9,175 ; and how is it made up ? By fines and forfeitures.
The tines are heavy, and increase in geometrical progres-
sion ; in some societies they amount to one thousand per
cent. per annum. The tradesman who, " from being out
of work, sickness, or other causes," neglects for some
months to pay up his subscriptions, finds, upon returning
to the society, that they have a balance against him of
fines, fines for nonpayment of fines, &c., &c., far above
his means to discharge. He perhaps struggles on for a
few months, but, finding the balance still increasing, re-
tires in despair. Consequently, all his previous payments
are forfeited, and go to swell the pockets of his richer
neighbours, who, in solemn conclave assembled, report
that the society is in a very flourishing condition !
As to the borrowers, so far as I have had an opportu-
nity of observing, they do not pay much above 5 per cent.
for the money (always supposing that the society only
lasts ten years). Thus they are pretty safe ; and, as the
Scotch say, if they are pleased lam pleased. The Chi-
nese have a proverb, " He that borrows to build, builds
to sell ;" and I doubt many will find the truth of it who
have borrowed money from Building Societies.
And woe to them should the societies last eighteen or
twenty years ! They can easily calculate what their pro-
perty will cost them in that case. That some of them
will last that time, or even longer, 1 firmly believe, and
hereby prophesy.
Your obedient servant,
NEWMAN NOG GS.

THE EARL OF DERBY v. THE IMPROVEMENT
OF LIVERPOOL.

" No obstacle shall be thrown in the way of this railway on my
part ; on the contrary, if absolutely necessary, they may make a
tunnel beneath my very drawing-room.- Marquis of Bristol's an-
swer to the application from the direct London and Norwich Rail-
way.—Bury Journal far October, 1844.

TO THE EDITOR OF THE LIVERPOOL STANDARD.

SIR,—We have it as a tradition, that ever since the
death of the great Lord Strange, the house of Knowsley
has invariably set its face against improvements likely to
benefit our good old town. It is singular that such be the
case ; for if the interests of that family are not identified
with the prosperity of Liverpool, they are, certainly,
greatly enhanced by it.
It was to the continuance of this feeling that, in more
modern times, a grand improvement, from Temple-court
through Stanley-street, was frustrated, and that the di-
rectors of the Liverpool and Manchester Railway were
constrained to make their line to the south end of the
town.
It is now currently reported, that the great Baron Stan-
ley, despite of his unquestioned ability, is tinctured with
the same narrow spirit ; and that he is determined to op-
pose any railway approaching the town from the north-
ward. What would his lordship think of the Marquis of
Bristol's saying on a like occasion, and which I have pre-
fixed to my letter !
I should hope, however, that the noble baron, in justice
to his own character, will reconsider this rash resolve,

and adopt a course more befitting s conspicuous and lead-
ing member of the administration of this great commer-
cial country.
If not, the only plan will be for the commercial men of
Lancashire themselves to bring their case before parlia-
ment, and ascertain whether the legislature will, at the
instance of any great landed proprietor, however power-
ful from property or connections, refuse to grant to Li-
verpool such great public improvements, as they have
shown that they are anxious to extend to all other parts
of the country.
If we cast our eves over the river and see with what
zeal and unanimity the landed gentry there co-operate
with the enterpii,ing mercantile men at Birkenhead in
every project calculated to advance the interests of that
place, we cannot but be struck with the contrast in the
conduct of the landed gentry on this side of the water.
At such a time Liverpool has most to fear from the apathy
of those who ought to be most active and energetic in lay-
ing open her resources at the great north western part of
the kingdom. To oppose, or to be neutral, as to further
railway accommodation or extension for Liverpool, is in
effect to play into the hand of her rival (so to call it)
young Birkenhead.
As you, sir, have stood forth manfully in support of
townside interests, when others were disposed to quail, I
shall confidently rely upon the insertion of this letter.

I am, sir,
Your friend,
A DICKEY SAM.

Liverpool Nov. 1, 1844.
.._ _

P.S.--1I perceive that the Earl of Derby has just given
£lOO towards the intended parks at Manchester. Will
any of your numerous readers point out an instance of
equal liberality from the house of Knowsley towards a
Liverpool public improvement ?

SPORTING INTELLIGENCE.

MANCHESTER-FRIDAY EVENING.
DERBY.

Out of a multiplicity of offers at the room to-day, we
only saw some solitary bet accepted, namely, 500 to 10
about Cabin Boy, his backer signifying a wish to perse-
vere at like terms. In other respects, so fleeting and
visionary has been the business altogether since Tuesday,
and the offers to-day in almost every particular were so
nearly assimilated to the London prices, that a further
recapitulation of what was done would be superfluous.