TOPICS OF THE DAY.

Press, Volume LIV, Issue 9919, 27 December 1897, Page 4

TOPICS OF THE DAY.

Dr. Newmax, of WellingDr. Newman ton, has returned to in the colony, after a ivisit England. to the old country, and has been expatiating to a Post interviewer on his enjoyable experiences. He grew enthusiastic when London was mentioned, and declared that the improvements noticeable in it since he was last there, twenty years ago, were beyond description, both in moral and material directions. He was struck forcibly by the evidence that the rich were growing poorer and the poor richer. The growth of London impressed him, as it impresses eveiy one after a prolonged absence from it. " Just think of it," he remarked, "there are 14.0C0 houses added every year to its buildings — a Wellington added to London per annum." The business world also grows apace, "for the world is London's back country," a decidedly neat phrase. Dr. Newman is under no misapprehension as to the position occupied by New Zealand in London. "We don't stand in the public eye at all," he said, in answer to a question, adding by way of explanation, " You see, we're only a small spot on the horizon. The public generally appear to know that we have got a fine climate, or flatter ourselves that we have, and that we have something to do with frozen mutton, financiers don't bother about us because of the vagaries of our politics, and interest in our mines is as dead as our frozen mutton, because the returns ftom the mines are not large enough." Such plain speaking is, no doubt, good for us. Dr. Newman was the " candid friend " again when the "frozen meat business" move was made by the interviewer. Asked how it was that New Zealand mutton brought 3|d a lb at Smithfield, while on the same day English and Scotch mutton fetched 6_d, Dr. Newman replied, " Because freshly-killed English or Scotch mutton is daintier than our much-travelled mutton." The colonial meat is good, wholesome food, satisfying to families with small incomes, but the well-to-do want mutton with a good flavour. The doctor is confident that New Zealand mutton was more popular in England a few years ago than it is now, and he does not regard the outlook in the near future as cheerful. Dr. Newman was greatly " impressed with the Turbina, the vessel which darted about at the Spithead review at the rate of some thirty-eight miles an hour. Another vessel is being built to do fifty miles an hour, and the doctor looks forward to its success as probably the most important of recent inventions to New Zealand. But the reduction of the duration of the direct voyage to England to some eleven or twelve days is an event which we hardly think can be classed as probable just yet. There is one class of inNovel surance business at Home Insurance: now whioh is a thing of quite recent growth. This is the insurance of the Queen's life by persons who would suffer loss in their business if the court and the country were plunged into mourning by her death. According to a London underwriter, this sort of insurance business was brought about by the death of the Duke of Clarence, a sad event which is said to have very seriously affected many large firms and to have almost ruined some. Therefore, when the Duke of York became engaged to the Princess May numbers ol tradespeople and others effected insurances on their lives until after their wedding day. During the first part of this year an enormous business was done in insuring the Queen's life until after Jubilee Day. If anything had happened to her Majesty before that date the effect on commercial circles in London would have been most disastrous. Policies were taken up by all sorts of people, the first being a.volunteer regiment who intended to hold a big ball in celebration of the jubilee, and the second being the manager of a crack band, whose engagements for the London season would have been upset if theCourthadgoneintomourning. Theunderwriter who supplied this information showed two policies. Oneinsuredthelivesof the Queen, the Prince of Wales, and the Duke and Duchess of York until the end of August. In the event of anyone of them dying before that time the company would have had to pay the whole amount insured for. The premium was 8 per cent. The premium on the other policy, which insured the life of her Majesty for four months, was 6 per cent. We have mentioned two of those who took out such policies. Mostly they were high-class shopkeepers, but such people as decorators, illumination contractors, and flag and banner makers, availed themselves largely of the means of protecting themselves against possible loss. Another class of insurance business which had a boom at the beginning of the year was insurance against England going to war. Every fresh war scare brought fresh applications to the underwriters. The principal premiums were war.between England and France, Germany or Russia, 4 per cent. ; with the Transvaal or with any European Power, except Turkey, 5 per cent.; against war with any Power whatever, 8 per cent.

————— The organ of the GovernInsuring ment Life Insurance De* Against the partment, after quoting the Weather. cases above mentioned, i proceeds to argue tha? there is a wide field for any insurance company which makes weather conditions a | special subject of insurance. The writer truly remarks that there are few contingencies of more frequent concern from a financial standpoint than the weather. Setting aside for the present all question as to how far the I farmer would benefit if an arrangement were in force by which he could insure his crops against drought or too much rain, just as he can now, we believe, insure them against hail, there is no doubt that such a system would be a great advantage to many. We need go no further back than Anniversary Day for an instance of how completely rain can spoil the best laid plans of holiday makers. Supposing it had been possible for the promoters of the Floral Fete, for the tradesmen who bought the privileges thereat, and for the military tournament people, to insure themselves against wet weather, it is hardly likely they would not have availed themselves of the opportunity. When one thinks of the innumerable events which depend to a very great extent for their success upon fine weather, the wonder is felt to be that some system of insurance against rain has not been put forward long ago.