The Evening Star THURSDAY, AUGUST 31, 1871.

Evening Star, Volume IX, Issue 2664, 31 August 1871, Page 2

The Evening Star THURSDAY, AUGUST 31, 1871.

Very short, unpretending, and what many people would term dry, is the report laid before Parliament of the Government Annuities Commissioner. There ds no waste of words in it, and there is a page of figures which tell of the amount of business, transacted. But, uninviting ’as mere statistical returns are, they are pregnant with information to those who will take the trouble to work out the facts they reveal. The following paragraph from the report sums up briefly the transactions in the department since the commencement of the .system : , I am glad to be able to report that the progress which has been made is satisfactory, ill!tl shows that not only those in easy circumstances invest in comparatively large policies, hut that persons of less means apply their savings to securing a safe though small provision for the future. An increasing number of .'mail policies indicates the wider spread of prudent and economical habits, the more powerful means of lessening destitution and crime, and the better prospect of fulfilling the object of the Legislature, which has provided in the Government Insurance System as in the Post Office Sayings Banks, an unimpeachable security (for the Colony itself is the security) for provident investment in the hope that such provision may be to the greatest and moat general public advantage. The Insurance system was practically , brought Into operation in New Zealand on Ist March, 1870, and from that date up to ' 30th June last 667 proposals for Assurances, amounting to 1.295,874, have been received (more than half ofthis number were received during the last quarter), of which 448 have been accepted and taken up, and policies issued amounting td L 200,374, at an annual premium of L 5,810 4s Sd. The number declined out of the 667 proposals is 75' for Assurances, amounting to L 31,300 ; this may he taken to show that great care is exercised in the selection of lives. The number of 1 proposals not taken up on 30tb June was 30, and 114 were under considcratiou on that date ; the large proportion of the latter class is attributable to the fact, that many of the proposals were then of quite recent date. There had then also been received, 15 Endowment Proposals, .of which 10 wore completed, and 7 Annuity proposals, of which 4 were granted. We know that ■ anything need be added to commend the plan to public notice, but we do not think the extent to which a system of assurance is capable of being made useful has yet dawned up.on the public mind. It will be seen that out of GO7 proposals 75 were declined ; and attention is drawn to this by the Commissioner, in order that the public may be satisfied as to the careful working of the Department. Based, as its premiums are, upon certain ascertained averages of healthy lives, this rigid scrutiny into the chances of life is imperative. But then the question arises in view of a national system of Life Insurance, whether it would not be possible for a scheme to be devised whereby those dependent upon those risky lives might be Saved from the destitution consequent upon probable speedy death. We believe that a very, small annual poll tax would provide a sufficient Assurance fund to secure everyone in the Colonies from destitution in sickness and old age; and Sve are by no means certain it might not be carried even . farther, and be made to some extent a safeguard against poverty. Perhaps as a Colony we arc not yet sufficiently advanced to entertain the latter idea, which will, most certainly, sooner or later became national, in the meantime our Colonial statistics are now sufficiently precise* to enable some able actuary to devise a plan by which each Colonist may be enabled to claim, as a right, support in sickness, old age, or unavoidable accident. The degradation of receiving charity would be avoided, ! a national independence of spirit fostered, and much misery spared to individuals and families.. To what beneficial results such, a system might ultimately be extended, the future only can tell; but lie would, deserve to be classed amongst ntan’s highest benefactors, who pointed out the plan by which nil insurance blessings could be attained. ,