The Waikato Times. TUESDAY, MAY 13, 1879.

Waikato Times, Volume XIII, Issue 1074, 13 May 1879, Page 2

The Waikato Times.

TUESDAY, MAY 13, 1879.

Equal and exact justice t,o all men, , Of whatever state or persuasion, religious

or Tjolitioal. Here shall the Press the Peoe&e's right

maintain, Unawed by influence and unbribed by gain.

The advantages of life assurance have been so often dilated upon m the columns of this journal that we have littlo that is new left to say on the matter. Nevertheless, though a thrice told tale, it is one of such general interest and importance that it will bear reiteration and especially at a time like the present when the accredited agent of the Government is actively engaged m canvassing the district for new participators m the advantages conferred by the institution.

The name of Sir Julius Yogel will ever be a household word ia New Zealand. As a man of genius he has indelibly stamped his name on the growing greatness and prosperity of tho colony. ' To him we owe the initiation of a scheme of public works which has rapidly advanced New Zealand to a foremost rank amongst s the dependencies of Great Britain and given to the existing generation of colonists advantages of civilisation,and wealth, and the enjoymeut of luxuries which without such colonising impetus it would have required another generation of New Z^alanders to have developed. In minor matters too — we could refer to many, but one only occupies our attention at the present tinae,that of Life Assurance— the colony owes much to Sir Julius. He- it was who cleared the first great difficulcy out ot the way, by establishing a State Assurance Department, which, giving to assurers the guarantee of the Colony, removed the want of confidence and doubt m the stability of Assurance. Association. Companies, which, had with good reason, fastened on the public mind. At first sight, it did appear that the New Zealand Go- ( vernmeut was meddling, m a field which properly belonged to private enterprise, but a simple narration of the fact, brought to light some years since by a commission of the British Parliament showed the necessity there was for legislative interference of some kind. Qufc of 258

life assurance companies floated m Great Britain, only 44 were then m existence, the remainder having either been absorbed into more vigorous rival institutions, failed, or being then., m process of beingwound up. About the time that Sic Julias initiated the Life Assuranca Department m the Government of New Zealand, public confidence m assurance companies had received a heavy shock m the failure of a large and supposed flourishing public institution of this kind, "The Albert." If life* assurance was to be general amongst the people of the colony, it became evident that some surer security should be afforded fc r frieir investments, and this was effected by the New Zealand Legislature requiring all such companies trading m the colony to give a certain-se-curity as guarantee of stability, and one alone did it, the Australian Mutual. Thus the Australian Mutual and the Government have the field all to themselves. The object with the latter is to reduce the premium to the lowest possible amount, and as it offers the guarantee of the colony, low premiatns have proved a safe and legitimate attraction. To the man who depends upon his labor whether of brain or ha.ids for fhe support of his family, life assurance sfceps m to carry on the work after his death when no other provision could possibly be, made to do so. A. man may desire to save, be anxious to do so m order to create a fund for this purpose or to purchase property, the profits of which he may himself enjoy and leave as a heritage to his children, but how many carry out these good resolves. Of those who have endeavored to do so how many but must acknowledge that they have miserably failed. Of those who have set earnestly to the work how many are there who have lived to accomplish it. And here it is that life assurance comes m to assist us iv our human weaknesses. It keeps the man of good resolves but weak will to his collar, for few allow an assurance policy to lapse — the premium when due being nearly always found m some way or other whatever waits or is made to stand aside — and it overrides the uncertainty of life. If only the one premium is paid, and the insurer dies, that one sum saved secures the whole amount which otherwise a. full life would alone have .enabled a man. to accumulate

It was contemplated, bub the idea has we believe been abandoned, to have brought the benefits of life assurance more easily within the reach of a class which has hitherto least of all others availed itself of its advantages, by the initiation of a system of fortnightly payment of premiums. Bat the labor and consequent cost of working such a system effectually- put its introduction out of the question, at least for the present. What however is no bad substitute for fortnightly payments of premiums, is the t dapb itiouof the Savings Bank to such a pur >nse. Deposits of not less thau one shil'ing are receivable, and at. the end of the quarter or half year an oicer can be given by the depositer to the postmaster, who is the receiver of insurance premiums on hirastlf as local manager of the Savings Bank to transfer the amount' ot the premium from the bank account for the purpose of paying- the premium. By ibis means the poorest amongst 113 couid place by a shilling at a time towards the payment of an insurance premium. The means are fully open to him if he will ouly use them. The 'poorest laborer can afford to put by twopence half-penny per day out of his earnings, and a man of thirty years of age by simply doing this may secure to his wife and family the payment of £150 at his death even though he died within one week after making* payment of the first premium, or to himself if he be alive at G5 years of age. By increasing the sum to threepence halfpenny per day his family syill have the same asl vaatage at his death; or, if he survive, he will himself receive the sum of ,=8250, when 55 yoars of ago. .Now, many might have said that though they could spare twopenoe half-penny per day, they could not so readily find the full amount of the premium quarterly 01 halt-yearly, but as we have above pointed out by the help of the Sayings' Bank he may pay m m shillings what he could not so readily have met if left to be paid m one larger sum. And with quite as much propriety should we address these remarks to the wives of working men as to their husbands. It is they and their little ones who are most deeply interested m the matter of insurance. How often as a community are we not called upon to step m and make gome sort of temporary provision for some unfortunate widow and her family to enable her to tide over the first struggles and deprivations caused by death of the breadwinner, yet a little self denial' on his part, and failing him, on hers, would have given them not temporary but substantial, lasting relief, and saved them from the humiliation of receiving charity. If the husband and father is dead to his duties and responsibilities, surely the interest of the wife and mother should be strong- enough to urge her to this course. There are few women of this class who do not or cannot contribute some part to the weekly earnings of the family, and who, by keeping up the psemium might not save themselves from, j

a position than which nothing can be more terrihle to a woman with helpless little ones depending upon her. A fenv pence, ■ a , shilling aweek saved would render the loss of the husband, which may happen at any- moment, less bitter m its consequences.

The Annual "Return 1 famished to the Treasury -by the Clerk of the w aikato County Council on the 18th inst. shows the total rateable value of the County to be £39,292 l3s lid, and the amount of rates actually collected' for the year end 3d 31sb March last was ,£1321 18s 6d made up as. follows: — Mercer, £1 2s 6d ; Ransririrvi>69 18s 8d; Kirikiriroa. £497 1 3s 5d ; TamaheTe,, £206 2s ; Cambridge, c£265 13s; Cambridge Town, £238 63 SJ, and Taotaoroa, .£33 2s 6d. Should the several Road Boards levy a rate of a shilling m the £, during the current year the income will amount to £1964 12*, and the Government subsidy nearly double that sum.