Hawke's Bay Times. Nullius addictus jurare in verba magistri. THURSDAY, MAY 30, 1872.

Hawke's Bay Times, Volume 19, Issue 1336, 30 May 1872, Page 2

Hawke's Bay Times. Nullius addictus jurare in verba magistri. THURSDAY, MAY 30, 1872.

Mr T. F. M'Donogh, the Governmont lecturer on Life Assurance and Annuities, gave a very interesting ail dress on the subject in the Council Chamber last night. Mr H. R. Holder was voted to the chair. The lecturer considered that the subject, though at various times brought prominently forward, had not received the attention its importance deserved. As a social question it was one of the u.ost serious, and *it the same time most interesting, that could be brought forward. Tlie fact of a man being in good health was no argument against insurance— life being of so precarious a nature that the mere fact of sound health did not imply that it would be long-continued. (Some had objected that if the amount paid in premiums were judiciously invested in business it would yield larger returns ; but that this argument should hold good, Wo conditions were necessary—that a man's life should be long, and that his business investments should pertainly prosper. On the other hand, insurance companies take (he risk of death,, and guaiantee a fixed sum. Some had a kind of superstitions idea that life assurance would tend to shorten life; but this was a complete fallacy, statistics having long since proved that its tendency directly the opposite. Tlie lecturer then reviewed the rise and progress of life insurance, and adverted to the immense loss and misery caused by the failure of private companies. On tlie authority of Mi Gladstone, he stated that during tlie twentylive years preceding the establishment of Government insurance, 379 insurance companies had been founded in EJng land, out of which number 328 had failed. In the light of these facts, the establishment of a national insurance office, with a state guarantee against failure, was an obvious necessity. The lecturer then proceeded to. describe the peculiar advantages possessed by the ftfew Zealand Government scheme, when compared with private offices. In addition to the offer of the best security attainable, the Government could afford to insure lives at a cheaperrate tlmn amy private company, jnas-7 ranch as they had no costly establishm.ent to keep up, and sought no profit, niercly requiring that the department should be self-suppoiting. Ju one of t|io 4-UsWian companies, the working expenses for tlie' first seven years affiO.un'ted to. 44 per eenA o.n the in-

come ; in the "New Zealand Government insurance, during the years it had been in operation, the working expenses only reached per cent. The lecturer then proceeded to show that; the bonuses given by mutual companies were more than paid for in cash by additional premiums and that every insurer, being in the position of a partner, took not only the chances of profits, but the risk of the losses of the concern, and in the case of failure, in addition to losing his money, might become involved in endless difficulties. By quoting figures from published tables, the; lecturer showed that in eveiy way the New Zealand Government system was preferable to that of any private office. The proceedings closed with a vote of thanks to the chairman.

In the Resident Magistrate's Gourt this morning Stephen Hunt was brought up on remand, charged wuh embezzling j£loo partnership money. The case against him was simplv that he drew .£IOO on account of a contract, that he devoted .£4O of that sum to paying his private debts, and that neither Cattou, his partner, not Messrs Eoutledge, Kennedy, & Go, who had advanced the funds for the work, received any of the money, Mr Lascelles ably defended the prisoner, alleging that there was no embezzlement nor dishonesty of any kind, and that the matter was one for civil process —His Worship considered that there was a strong presumption, that the cheque was wrongfully taken, and the money misappropriated, and committed the prisoner for trial in the Supreme Court; bail allowed. Thomas was fined 10s for drunkenness, and afterwards brought up to show cause why be should not pay a judgment of £1 education rate, and £1 9s costs, given against him last February. The defendant had funds to the amount of £7 10s 6d, the remains of a ,£2O cheque, in his possession, when arrested ; but tried hard to evade payment, alleging chat the money belonged to some other person, with other excuses, which he afterwards admitted to be false. Rather than go to prison for a month, he at last paid the money, with Os 6d extra costs, but with great reluctance He charged the police with having retained some of his money, and said he would lay an information against them, This same individual, in February last, rather than pay his rate, came from Pohui to dispute it, thereby incurring Court costs amounting to £1 "9s, which have remained unpaid until to-day. The following are now the fares by Mr A. Peters 5 " Royal Mail Jane of Coaches :—To Havelock, 2s 6d; to Paid Paki, 4<; to Te Ante, 6s; to Kaikora, 7s ; to Waipawa, 8s ; to Waipukurau, 10s; to Taupo, £2 10s. Late advices from Wellington inform us that the Ministry are busily preparing for the work of the approaching session of the General Assembly, Speaking of the San Francisco service, the Nelson Colonist, a thick-arid-thin supporter of the Government, says :— 4<i If the regular irregularity of this service vere to continue much longer, the population of New Zealand would rise as a man and denounce it."' The same journal also says that "confessedly the boats employed are unequal to the service."

The two morning papers in Auckland in their issues of the Bth instant, announced that "in consequence of sundry rumen's which have lately appeared in the Press with regard to two officers in the Colonial forces, it is the intention of the Government to institute an enquiry, which will, like all other Courts of the same description, be entirely open to the public."

The wrher of " Casual Notes " in the Otago Daily Times, of May ijl, says: —The retains of the Custom's revenue collected in Dunedin last week show that the "heathen Chinee" has been paying, directly or indirectly for the privilege of living in this laud of gold. On the 12th the duty paid on rice amounted to no less than ,£658, the great bulk of it, of course, coining ultimately out of the pockets of the Chinese. On the following day £25 Os 8d more was collected on the same commodity, and on the 15th, Mss 3s 4d, making the total amount of duty paid on rice during the week, £736 4s. On opium, also JcdG was collected us \emuj during the same period,.