CORRESPONDENCE.

Wairarapa Daily Times, Volume 5, Issue 1449, 6 August 1883, Page 2

CORRESPONDENCE.

OUR FRIENDLY SOCIETIES,

| TO THE EDITOR OF 'THE DAILY. |

Sir,—As you have allowed your columns lo bo used for ventilating the above important question, I would like to express my opinion on the subject, and while " Forester,", ".P," die,, are arguing over' the actuary's .report, it' will be as well to see what Practice and Theory say on the matter. The question at issue is ",Do Friendly Societies pay," Practice says yes, Theory no, In support of the former, wo have societies that have been in existence for more than a, century, that have been, and are still accumulating funds. Societies that number between six and seven hundred thousand members, with,funds and property to the' value of several millions of pounds. In this district we have branches, that have been established from .four to fifteen years, which have property and funds ranging from two hundred to nine hundred pounds, and each time the quarterly or half yearly balance sheets are produced, increases are shewn. This does not look like being insolvent, and how we are brought in so is a puzzle. Theory says,: ,'I have calculated your income and probable expenditure, and find you aro bankrupt." What about the vast accumulation of funds we have 'I Theory tells us that the system is wrong, and that our contributions qre not sufficient to meet our obligations, Ho\y about the past centuries' experience? It requires very little to see that our societies are in a sound financial position, and it requires very little to see why our contributions are recommended' to be increased. The actuaries have based their calculations from a speculative point of viow, for to run an insurance or commercial company a large staff qf officials are required, which swallow up q, lijrge .proportion of the,, moneyj whereas wit)} our society the in tliese respects aro trivial. By placing ' friendly societies under tlje ppotgptffln of the Government, additional officers will have to be engaged, the expense, of course, will fall on, the societies, hence the increase of contributions. If yve wish to continue our successful, career we must not have Government officials meddling with our affairs and. draining our funds, the past century teaches us that we can govern ourselves, there-, fore—let us alono. My recomcuendation is that instead of increasing our contributions for the benefit of useless officials, let it be done to provide a superannuation fund for our aged members. As, sir, you have placed this matter clearly before your readers, I will (jot go ink) the question, although it is one is lining recognised by the societies in this'district, and no doubt before long active steps will be tjiken tp bviijg about the desired object. - ■ I atif <fcc., A.O.F.