CORRESPONDENCE.

New Zealand Herald, Volume XXXI, Issue 9617, 15 September 1894, Page 3

CORRESPONDENCE.

GOVERNMENT LIFE INSURANCE OFFICE. TO THE EDITOR.

Sib,— your leader of the 12th inst. yon speak of the Government policy of lending; cheap money to farmers, and show them how they can try the experiment with the Government Life Office cash. When this policy was criticised in the House and the claims of this office were mentioned, I think it was the Hon. Ward who said, "it would not interfere with that department." I would like to ask by what right any man takes two-thirds of my savings and says that he will only give me 4 per cent, for it, and sells this same security, as you say he could, at a profit in England, and then as a sop offers it back to me at 5 per cent. It has been* said over and over again by the Government and their supporters that money is now worth seven, eight, and nine per cent. If these are truths then why in the name of goodness have we, the policy-holders in Government Life, to take four per cent, for two-thirdsof our money when it can be invested at, say six per cent. I have often stated, and to agents in the department, that every time I send my premium I think to myself, " There goes another cheque for Seddon to spend," for which utterance I have been called a rank Tory, but it appears thai the so-called Rank Tory was speaking the truth. I was strongly advised to put all in the A.M.P. I wish that I had done so instead of only two-thirds, as bonuses wi:l show. All Government Life policy-holders wonder how their bonuses keep getting less instead of greater, but the cat is out now, sir. Security, did I say, why we are paying two per cent, for it, or if our members of Parliament are to be believed twice or three times that amount. And I was one of the 30,000 policy-holders (who are trying to provide for our families without asking for Government aid) hereby protest against one man putting his hand into our purse as he pleases, and paying only what he likes. am, etc., Pukekohe. John Allen.