SATURDAY, JANUARY 6, 1872.

Auckland Star, Volume III, Issue 620, 6 January 1872, Page 2

SATURDAY, JANUARY 6, 1872.

I?r our issue of yesterday -we urged the claims of the" system of Government Life Assurance, and pleaded with those who have made no provision for their families in the event of the death of the bread-winner, to avail themselves of this simple and inexpensive means of shielding from penury and suffering those that are near and dear. But we do not close our eyes to a radical defect in the system, and one that is found in it in [common with all other systems of life assurance—it does not provide against insolvency. A man may have been denying himself comforts and even necessaries, animated by the belief that when death comes, his wife and little ones are safe. But misfortune has fallen on him, and before the cloud is removed he dies,and his policy is involved in the general ruin, and goes to satisfy his liabilities. It is needless to say that this is not what a man intends in insuring his life. His object generally is, that this provision for the future should stand aloof from all the vicissitudes of trade, and that it should be secure in the midst of ruin. "We are of course aware that the Government system of life assurance, in common with the Australian Mutual Provident Society aud some others, professes to give such security. But there is no use iv disguising the fact that this profession is but clap-trap, designed to deceive the the unwary. It secures indeed a small oroportion of the sum assured, but this security is only afforded after the policy has been" held for a long time ; whereas the chief attraction in Life Assurance is that instantaneous security may be afforded, in the provisions made on the payment of the first premium. Most people expect by a competence won for themselves aud for their families after them. Life Assurance should in all respects give immediate assurance; and if it only proposes to make provision absolutely safe after years of duration, a very large proportion of people will stand aloof from it, and prefer to keep the money and employ it in winning a provision in the ordinary way of their calling. Strange it is that such an obvious defect should not have been observed and provided against in the Government scheme of the colony. We can readilj understand how gladly a private company would accept of such a legal security to their policies against insolvency; and we can also understand how a legislature would be reluctani to confer such special immunity or any private trading company. Bui that the moulders of a state scheme oi life assurance.having in their hands the power of legislation, should have neglected impressing on the scheme features of absolute security againsi risk, can only be attributed to that stupid adherence to what is customary which is so often the barrier in the way of sensible legislation. At present there is no honest way in the colony by which a man, frugal, industrious and saving, can apply denied comforts to the absolute benefit of his family after his death. There are dishonest ways in plenty, and by sham assignments and friendly sales, a rogue can make use of the Government system or any other system, so as to liberally provide for his family and laugh at his creditors. But while nobody can close his eyes to the easiness and the frequency with which this done, the Government scheme affords no means by which an honest man may legally secure the fruits of his savings to the object for which these savings were made. If it were so that a man purchased an annuity by a large lump sum, he might in the act be robbing his creditors. But when by the payment of a small sum of three pounds or so in the quarter, -a man secures a poHcv -f C&ji ; his death, it ■;» ■-■ i: jay that his '■•ve.iifcoi'S hava *ight to the K'i(jf),or to ,-mv, ,-:.- it, save and <-'■:'_/ x so air. premiums of ;br'.' r -•■ l ;\ c been paid w';i]« -ihf- as.-:-u.i: t a state of insolvency. TH-i ih. ■ ■<"-• believe, the cue maio : ' t'ui* ;... -i many stand aloof •from L?i\:. AdßUiao ; and as the '•;■,-jr!r<v !>t- with a?.<: aat is really ber,ATfic?iii. ■■..'-■ bew'v ~i including the whole people of .No Zealand in one vast M.m.L:.: A-esn.irn.uce Society, sve should in tho p'ibj iterests exceeding!;- like !x. ,-ro ;:.-• one radical tiefe^ in the system * ■ .-:. id. We observe :.*-. I 'idle steamer Effort, lately Aobt'-j i, m 'uthies' ship. fciuMiag yard, -Via (~ (.1 , Thames on Mwd&j ■. ■ ■-:•;.-■■ : : < Trying cargo and pissenj,'cr«. ' ■ -"rahamstown for 6h;rt*rj.niri on •:•■,..:.• next, after nhi'. ■' .<• 'nil xoakorefi '■ UlWiUUWli[ilinn^>eanßß- >- - ._-J

The Coromandel Tunnel Company commenced operations on the 3rd inst. Messrs McLaughlin and Scalan have contracted to drive fifteen hundred feet. The tunnel is being made from both ends. It is to be hopod

that the undertaking will result in a success. It is intended to further develope the goldfield in that district.

The first general meeting of shareholders in the Murphy's Hill Gold Mining Company (Coromandel) was held yesterday afternoon at the Metropolitan Hotel. Mr George A Jackson occupied the chair. The director's report held out hopes of a highly satisfactory resul^ and recommended a call. The mine manager, Mr. W. Jones, stated that he had obtained as much as 5 ozs to the ton from some of the stuff, and that an immense quantity could yield half an ounce. Messrs Williams, Wallace, O'Toole, Applebv, C. E. Hime, and A. D. McTavisli were elected directors, and a call was agreed to be made. A meeting of tb.o newly appointed directors was held afterwards, and it was decided to make a call of three* ponce per scrip to bo made payable on or be. the 20th instant.

We would call special attention to Mrs. Colclough's lecture and concert in the Hall of the Young Men's Christian Institute, to take place on Monday evening next, at 8 o'clock. The subject of the lectui'e is " Strong Drink and its Victims." The concert will consist of a fantasia by Mr. and Miss Stubbins ; song, " Oh, would I were a child again," by Mrs. Higgins; glee, by Orpheus Orlee Singers; song, by Miss Shanaghan; quartette, by Orpheus Glee Singers ; readings from Dickens, " Squeera of Do-the-boys Hall," fey Mrs. Oolelojgk; song, by Mrs. Higgins; duett, ," The Cousins," by Miss Shanaghan and Mrs. Colclough ; glee, by Orpheus Glee Singers ; song, by Mrs. Colclough; fantasia, by Mr. and Miss Stubbing; and " God save the Queen." We have no hesitation in predicting a- most enjoyable evening's entertainment.

The committee of members of the Choral Society met last evening, when plans and specifications for a new building were submitted by Mr. Mahoney, architect. It was decided to call for tenders at once for the re-erection of the hall. The building is to be of brick with slate roof, lined in*ide with wood ; end the large hall is to be six feet longer than tho last one. The gallery is to be constructed capable of holding 300 sitters. The committee hope to meet with tho Bupport of tho public to enable them to complete their arrangements.

A testimonial has been signed by a large number of influential citizens to the effect that Mr. Abel Fletcher lias given every satisfaction in performing his duties a3 night-soil contractor. He is applying for a license for this work, and it is beyond doubt that he has carried out the work hitherto in a cleanly and able manner. The Rev. Warlow Davios will preach tomorrow evening at the Albert street Congrega-. t:^nal Church, It will be a sormon specially addressed to young men. The Eev. S. Edger, 8.A., will conduct services at the City Hall to-morrow. Subjects : Morning, "Prospective Christian Virtues." Evening " a Prophetic Parable for the Noav Year. The regular quarterly meeting of the Boyal Arch Chapter 348, 1.C., will be held in the Chapter Room, Ma3onic Hotel, on Monday evening next, at 7 o'clock. Notice is given that copies of the Directors' Report and Balance Sheet of the Nonpareil Gold Miuing Company can be had on appli* cation of the shareholders :,t the brokers.

The G-olden Crown will make a special trip to the Thames to-morrow morning, leaving Queen street W.narf at 10 o'clock, returning from Graliainsfcown at 4 p.m. The cargo beat Enterprise No k 2 will also make a special trip to-night at 11.30 o'clock.

We have to ajknowledge the receipt of a copy of the report and financial statement of the Auckland Horticultural Society. It is in form of a pamphlet, and has been neatly and carefully got up by Mr. W. Atk?n. The report speaks hopefully of tho prospects of the Society, and the balance sheet showa a considerable amount to be at their credit. The rules, bye-laws, and schedule of objects for which prizes are to be given at the exhibition in March next, are also given in extenso.

Up to the time of our going to press there is no sign of the Nebraska with the English mail. She will jeave for Sydney and Melbourne twelve hours after arrival.

The Auckland Blue School will revopen on Monday, the 15th instant.

The pupils of St. Matthew's School wil re«assemble on Monday next, at half-past 9.

Wo ommittcd to mention that Mr. Andrew Heavy applied for and obtained a renewal of his pawnbroker's lioenne at the Resident Magistrates' Court, yesterday.

A meeting of tbe Colonial Protection League was held this afternoon. The attendance we B small, and the business transacted of little im-

portance,