CORRESPONDENCE.

Wairarapa Daily Times, Volume 5, Issue 1494, 27 September 1883, Page 2

CORRESPONDENCE.

(TOTHB'.EDITOR),

Sir,—lt is:evident that the promot era of the' Government Insurance " Schemes" in their to explode the! Friendly Societies" have badly burnt their own fingers. The Friendly Societies now have a quiet little pastime in store, such as the department has been reserving for itself. What does" P" think of Govermettti security now? . ■ . J-have, 4c., • \ 5501.

THE GOVERNMENTACTUARIES v "AND THE FRIENDLY. SOCIETIES.

(to the editor wairarapa daily.) Sir,—About h year and a half ago the Government actuaries gave birth to a wonderful scheme of insurance, and instituted a new branch which thoy called the "Industrial Branch." Agents were sent round, specious promises were made, and every inducement held out to the working classes to ■ parfi;. with their hard-earned money. About the same time these, same Government actuaries made the notable discovery, ihafc. the friendly, societies •were bankrupt, and proceeded to worry aud distress and harrass the societies with a view of discrediting them and inducing people to take up their precious scheme of insurance. Mark tlio result ! During this week an agent lias been going round, amongst the policy-holders ofthis. new branch, and< has succeeded.'in inducing most of them to accept the. surrender-value of their policies—in other words, to forfeit to the Department about onethird of the amounts they have paid in, under the plea that it does not pay to send round a collector. It really means, Mr Editor, that tHis Industrial branch of the Government Insurance Department is insolvent—sannot be made to pay, and it has taken some, eighteen months' of actual experience to find it out; and the loss has been made to fall upon the unfortunate .policy-holders, And, sir, if one branch of this Department confessedly will not pay, what confidence can we have that other branches are not in a similar .state 1 This is a matter which calls loudly, for investigation, and no time should be lost for ascertaining clearly upon what foundation the Government Insurance Department rests. AiulJ again, what about the impudent assertion of these learned actuaries, that the friendly societies are bank : rupt 1 We shall probably after this miserable fiasco hear less about this, but they have succeeded in fastening |an incubus upon us in the shape of the Registrar and his Department which we must shake off, There will be no difficulty in doing this: it merely requires one united effort. Steps have already been taken to make thai effort in Masterton, and very soon the Friendly Societies of this town will be free from the impertinent interference and tyrannous requisitions for useless clerical labor of the Registrar of Friendly Societies. I am die., Forester.