, 1870-04-12
INSURANCE BY GOVERNMENT
snnA Lilo lnsNrOncc be Undertaken
ny the Government ?-YIows OF the
chancellor Of the Nrttlyh ~.
enequer-A NovcI md Sknnlfnr
IdcNx

on Li1e AnsHrancc be Undertaken
hy the Government ?-YIcvx. OF t,,c
! Cnancc1ior Of the Htttish ~.
Idcn.
- In the British House Of Commons, during
Lowe, Chancellor OF the Exehequcr, said. The
nsht honorable msmber for bhoroham fSfr
stephen CAEe) had done a GOOD eeryicS ~, n
b1s bb1EngsnE torratd TIL bill Tie right honora-
md M ona ah;rh hsd drawn foEr6le picture,
;aa, ;m9e, showing that when an honest md
dus.ns she whole Of Els lie to make =
t1iphtaet t, to5 h!s family, he waEithont The
causes arising ont Of his education md 1Aa b;s
Posiuon IN Life, which did mol onsbIn hin, ~
!aogc OF tho liability Of of1ices-depriYei NJ
.bie!Ra his RfO1aon. and lis family we5c reduced to
Too m,nv 's r,.s: 1aat rs now tho result in
SEQ whether this biz. when carried into "fs.ct -
Monld really do anything to prevent khat, 'Hs
aa not ,Mlsh to argue against the bill, but be
smar,a snsn Soo House to consider whether the bil
@ more adequate remedy could not he provided
The businesR Of ASSURANCE ofkcss W.s
entirely different from Ill otber
' r.a .eaa.iatea. U1 eItnsaa e nj, NTH :vhieh Lo
whereas in al other kinds OF bu.;nsas ;m, ono hs,,
gan With m outlay End obtained the n1of;t n
terWarus In ASSURANCE busiuess the nr,fit -.
onG.Meo sname a1etl aud the outlay came many ycars
went on, YER after year roce;yinV i.r5. naH Sno
Il ments N respect OF q remote coutineencT and
Sue consequence wna that, III a general mia
n1lnAn a. natuTe waa not eqna1 to dealing ration.
Won ~ ana ~ iAfty With such state Of affairs,
inE fulfilled, tho means Of fu16Iinr Il wera ~,
longer POSSESSED. That was ouo neeu1;a,i+E =.
n4l mere Vas another, which wss that fhs
Wnole p6TeE Of assurance companies to fulfil
natuso Of Their invastncuts, Thera aleo ~, tae
eneek eae as 70 that IN tile bill, and he did
nol see bow check could be annl;ed
20 safh matters Another thing, which VA
pp,n;ao penioT not N the nature Of assurance COM
aeParaole from them, wia that compsn;os vcro
sos up and supplied with policy -holacIa by
ssatcm OF putting, toutins, and briliuc, rhich
w alosethe5 nns11mplsd in any other lina
and a vet 4 1,a ~ most deplos.ble thing.
nan, who Vas not himself competent 10 in1oa
oi inc secu1lt! Of the Office in wIicl, h. 80
Fons to lnveet, vent to 4 person whom he
fpsn5 tp1ssa upon ~ AZ his e99fidentie AdEisez and
naeLt 1,et /. ~ one Nho would tell him whether he
70 whom 10 70 went was person Who Esd a
large pecnniary temptation to advise him
quite apart from the merits Of The
case, tCheers.] Those we're some
na-sra,s s,us "tncu ue Fentured to point ont in ,
Isielence 70 tho present etate OF iusurance
ooeuess; no Was aorIy to sar thst, with every
Hash 70 tltnk well Of the bill, and nuito .i1n;t.
ing that the bill did contain valuable inprnTe- :
nen.s . no man could say that the bill wouid a
'raui9 ~ ny one of those evils. Again, it .
6A nanhez IN which the funds could bc emp1nyei )
one @ nfSc portion OF tho bill consisted In = !.
1ola Q, lamhy resemblance to the very stringent
ass sssnant rst haa been passed in the State Of Nas
Hho :! had perfect control over the compsniras =
lhere @ was clause in this bii xb;ch !.
s,onsht TO distinguish between the risks On :;
.oeo .Fe 'nd IT, but il New York conpanies +
han p cne kind pf bpsineee. It g1s said TIT 1ist n
hoee American Offices hsd certain1y sncces5cJ "
Elvlng the greatest confidence ia ths a1stn+1 y
= ns ~ assurance which prevailed n tlst conn u u
en- csmo ~ thsseseo nv whether, when that eys. Ii
las @ n the dowesy days Of youth - ~a,,d
Gst9y th4t confidence or not. w,s .ba .h;n u
~ ha1n h'us tL q Iaom could forrsee lie could or
bla ntp th,t tnkng tha. il WAS exceedingly prob
oold produce o,eswccaioS eoaadencs s1ne9 me- -,
"ouIo % found that people utterly neeiscta1 ~ ~
protect themselves, and that the iaT wnnid pr
i 1m nqm m1 Projecting people to naeh
&c American Law there Tero pyoyssions Eb;ch s Ia
th1s country would not Be- tolcrat45 ~ ~ ln
lonent He desircd n,ost earue.tiv not ~ ~
y ~ IT,, Laese should b Any interference, cie
AZ a. snat something should BE done to take t ta5
-. VIZ. ae thought was reprosch to ou5 pr,
wMtnat there we're no mems b. WHICH Al Ia
e. uoAn not highly educated, 20 a. r,
'r,a Is apaole Of Judging Of these problems. N,
qa assafe bis fe IN such va5 "a 10 be ter M
hsh he designed for those whom ha 1e5t ho. We We
no nouia COMO to them. There WA no sucL ~, ~,
ing IN this country. It WAC only prohab;1itI ~, ~,
ine an to cGa,d Ea sen w.th sestaint he va no u
eld be helped. but it had Occurred to him a. a.
ine worthy Of consideration Ind ha hsd ~ ~
y sen gopo dss Of consideration to the sab In
.ut 70 Gone Toward themselves ind liz,
es 70 the public, on terms sufficiently Hch to ~
Event they coming into couoctition T;th ~ ~
Ny good companies, and without offerine ~, a
! eoueteEA advantages o. bonus Hhs;cyor. ~
: spIsotu!e sp ee1tAmsy which the government, hGu
: 10 recommended The sostteP 10 the c1,. ~ ~.
eIatlen q those whom it might eoncaru. and fo,-
~ snoSld be reAd. 70 do Whit he had stated eo1u
:. IGese tSe .nonhs thafs VA not my ebie
M 's1nlnens hid plenty on their hands, snd the msn
lit Of such i matter must BE- ve,T tr;afno in naa
- - not not for the government 70 pash nd nd
use considered th1t neither Ibis mass. u
nor my other measure Of human in eSe1
lton could really give tbs security required s1ta
nieht consider whether it might not Be syiv'
' 3os H40 hoNetaIAtA1 10 E1FS t63s amount tefU
security, upon terms which might prevent 1ss4
fom entering into unfair or uarrAsouable a.
apehton with existing conpaniea, md INC
ether BY 80 doing they would not BE- supply pald
want There WIS ! want of ahsoluta car ReTe
'ty " this matter, Aod be did not know that and
2uld be supplied in anr other way tbcn
ne London Spectator comments upon NJ. -
fe's speech, md compliments vhat it ctl1s ~ oesu
great idea upon lie assurance hT rnT. poEte
Enent Il t.Es:I Law,
old As Nj. Love il In suggestion, he some In
e fails to see the enormous advantage tho
b new idea gains frun ita oxn audacity. AZ
4 striking the Imagination - veil IS de this {
ON Of men His suggestion Of Wednesday ta1at
he discussion on Nr. C2ye's Insurance bli, TIL
government set mp 4 secure life insur- have
oince7 cont2ns N 1t, ~e firmly belieTc, | nue I
germ OF new and better system OF direct WIS +
ton bnt in its existing form it win md 6
eelT do moro than nxcita the bitter ani- WOOL
IT Of the ineurAnee companies, and the Ma1cl
1ngs Of the larger Class which enjoys IN made
Without Possessing c.pit21 Tho longing I upon
cited BY The prospect Of ! secure invest the II
+ the anitnosity By the certainty tho COM prxeti
es VII feel th1e the could narer compete The &
ne best business with government estab- esS, d
nent- Ar- Lowe unde1Eates tho force Of 0O0 ,n(
,Hn G1sat weapon, the perfect confidence &C., d
NAN y