The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1850-04-02 00:00:00

y of the statements read ha

papers, and made
ful exposition of the
He having done so, I realty am not

ad certai
it a fait'

-The CHAIRMAN, addressit
has now z
which con

Id either to your infor

on the facts you have heard from him
usage that the person who occupies the
honour to occupy is expected to make

silence. At the same time, howeve
me, and it occurs to me now, that r
quiet way, and in ordinary langual
_ _

your minds. and be more ea .
therefore allow me to recall to you a few of the leading facts
which you have now heard. (Renewed applause).
One of the first of these—at least the one that leads me to

ause)---and

of myself till very recently, which

exhibited

ution by our mere numbers

peak of the turns i

our ill vestmentg,

securities, or of anything of that st _
bees. I know no better test of a sot_ _ _
managed,—of there not only being no an
but that public confidence has been alway
in the increase of the number of its in
members, I mean, who have no interest
who are as anxious as men can be to Protect thems

Look at c

s being well-
regard to it,
ncrease, than

;led members—of
pare selfishness—

misconduct, in order that, if tir
thneously corrected. Now I find that
the society was instituted, we began with a smal
49 members—(laughter)—and it did not look well
1816, that the eggs laid then were only 17. (Reney

the yea'r 1815, when

I also find that during the first six y‘
ence, 212 were the sum total of our I

ens. (I

Lt caution with v

,i,!h the lives mist

still remain upon the books,
renderedthei!_policies, and ash,

know, may be

first six years of its existe
cies, but 49 still survive.

ause.)

beeli well-selected lires(lie'str, hear
that, at the end 0f35 years, the number

ve, nor even to six
ha

ut to above
hove six thousand

urrendertd their poll
ese seem to me to ham

fact, I infer nothing but this,—
ions but uncomplahiing eyes n
cannot be an ill-managed body
The Business done dud

(Applause.)
From this

.e so many j a.
esume that we

several po!icles which wer
4'422,000; that is to say, th
we effected amounted to that
tiles(

the year 1849, after deduction of

Insurances amounts to 03, 1
which, I am told, is a high on,

o above

Tile nurnter of PoliciesOn
eing, at the average. over
,—of no less than on

by above .e 100,000: and the total capit
amounts to .t"2,167.50;; that is•to say,
which will be far more easily remember(
Two Millions of ,none✓.—(Applause.)
The statement that we rave above Tw(
say, that we ought to have it
funds were not w

that we ownnol-v-
-i round rumbers

would be

he ought to Lave it; but When he comes to gi
the closing hand ; and, then fore, it is of vital a
consequence to be told in this pace, that of t
so far as we have discovered, we have n
bad •ate.—(Applause.) These I:
part, laid out on real security-

iderat.ly a&ov

:sp it. it eludes
d important
tr investments,

I mean within

for the most
►►d, the

best country, in my be
besides this, a large portion of our c..,
to the members, upon the security of their polic

in loans
. What

tier, when he dies, is our creditor, say, Idr „eIGCO; and he asks
for a loan of £300; if the policy be of equal value, we lend it
to him, because we lend it to him out of his own money. With
such a security we can advance it; and we are as certain of its
return as he is that he has claims upon us. Part of these two
millions is laid out in Bank Stock—l mean stock of the char-
tered banks of Scotland and the Bank of England, which I
believe is as secure as can be. There is not a penny of it laid
out in any hank stock of which a single individual in private
life entertains the slightest doubt. A 1- -
laid out in redeemable annuities, which, b
as well as we all know, fall under the clas:
under real property. Some of it is laid I
my next word, for this first one makes in
(a laugh)—some of it is laid out on r
(Applause.) Not one singlesixpense of it—
of it, I would tell you honestly—hut not
it is invested in railway shares. 01
is one which, above all others, tt

y peop!e tiembl
way debenture,

investments; and it is, the regularity
with which the interest on the lonns
Wherever an investment is not met by re;
interest, let the creditor begin to tremble
have never found the least rause for fear or

Ingle farthing of
h I have to state

)1i Paid

I understand, are always paid almost
The result I draw from all this is, I

la)* payment of the
Now, with us, we

investments good, but that they nit
could not be obtained. My be
were all now thrown loose, an
retrace their steps, and to get good ss
therefore they would, do nothing but r
rities that they have already obtained
thousand members of this Society hal
lions of as well-secured money as
world.
Our annual revenue has decrc
interest during the last year,
The sum total of what we I
Six Millions and a Halt
The deaths in 1549

not only

1 from the recent fall of

place, they amount to 1
for only by the prevalent pestiter
amount to 111, they are only 63 per e(
probabilities ; that is to say, that our !
the calculation that there would be 100 di
that, there have been only 63, leaving 3
above for the security of the Society.—(il
who have died—let the upper ranks thinl
fallen by the lera. It is commonly thong]
Lion which t fflic:ts only the poor and the
it afflicts them first, and worss, but it is

In the first
he accounted
though they

) Of the 111

of this ?act—

ht that this i
destitnte. I dar

his 'Soc

was insured for £5OOO, one for £4OOO, one for £3OOO, two for
£2OOO, and one for £l5OO, and that the whole 24 were insured
for something like £27,000; and therefore, you will observe
that these, apparently periodical visitations, ought to strike a
lesson of prudence on the minds of men in all i
The suals paid by us since we begat
£1,161,000; and this is a fact with %hick
We have distributed above eleven hundred thous
We have relieved to that ext

I was miic

so technically, 'and with such proper brevity, of the benefits„ of
Ithis Institution, made a great impression upon me, as I have
no doubt it did upon the meeting. The case I refer to was that
of an old member who died abroad last year, and who had

he has claims upon us for X 3003 certain. But,' besides that,
his representatives will receive considerably above £2OOO as a
Bonus. Thus, upwards of 45000 is secured to his family ;
...

, after paying that, t
planse.)

The next matter w

le Society was plus nearly X

,ave to stat

!'or whicl:

gation. (Laughter and applause.)
Now, what I have stated are the material facts; and what
else need I say? It is not my business, and lam sure it would
be no satisfaction to you, if I were to boast of the excellence
of our system, or the greatness of our success; and still less
would it give any satisfaction to you if I were to do that from
which every respectable Society will for ever abstain—that of
attempting to raise ourselves by a contrast or comparison, or
even by an allusion to kindred Institutions. (Applause.) I

have stated the farts; and having done so, I can coo no m
It is for you to judge how your :affairs have been_ managed,

to carry away with you those resolutions or judgments which
the statements you have beard are calculated to produce. My
inferences are merely two. It seems to me, in the first place,
that this is a Society in which we may have perfect confidence.
(Hear, hear.) My belief—knowing as Ido something, about it,
although not so much certainly as many others—is, that our
confidence in it may go to this extent, that if we were to begin
our career again, with the experience which we have acquired,
I know many ways in which we might act dWerently, but I
know no way 5n which we could do better. (Applause.) Mo-
ralists have often amused themselves by speculating about what
a man would do, if he was again to become a boy, with all the

seriously and firmly be

time and the yrar 1850,
in the very ruts by wh

'y other inference

the san

duty of

winced that prudence is a virtue, but ail men are not convinced
that there is no form in which that virtue can be practised with
so small a present sacrifice, contrasted with so great an ulti-
mate reward. If yogi want any examples of this, I can tell ytits.
where you are to find them. You are not to seek for them
here. You must go among the families of those who have been
bereaved, and amongst whom the Society has alrea,ly distri-
buted greatly beond a million of money. Go into these
families, and ask them what they think of life insurer
They will tell you -• • • • -

their only

experiencing the
their house had

arried it to

what you have to do,

to urge this do

their services (lurk
On the motion (
cate, seconded Uv

were appoint

Williau

unreasonabl

)uur Val tons spheres,
s—to urge it simply upon
1 avoid death, and that no

fence
general uni

nese are tue impre
1 leave you to sa
id loud applause.)

ItussELL, K.C.8., of Asl.

lie past

'ctors for th,

ANK Cc

PRESIDENT,

EXTRAORDINARY DIRECTORS

'clench, K.G

The Very Rev. P
Robert G. Baillie
James AVG regor,

sq., of (

Williani Mitchell I

Thomas Beveria

Arehd. Davidson

rinan of South Eastern Railv
Pitfour, Bart.

William James Durean,
* Sir William Hamilton

!e, W.S

Preston,Bart

Id Alison