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Nelson Evening Mail, Volume XXV, Issue 124, 27 May 1891, Page 3

»i I vA , * oe ? t "Peeon ■»* Portsmouth tbe RigMt.Hmi J, Chamberlain said :-<• I find mt of all |jhe old people in the United mr nt 8 - age of 60, rioh and poor alike, ohe in SeveH is at the present moment I Amrecaipj} of parish belief; Well, you will \ Understand that that aocounts for a large portion of the vast, sum— eight or nine ipilllpns a year—annually expended in pooi" law administration ; and to my mind it is a deplorable thing that so large a part of our induatrial population in their declining years should find themselves compelled to have reoouree to bhe poor law for their subsistence. It seems to me so important to prevent it that. I desired the intervention ot the Government the obher day. I propose that tbe Government should allow every post .'offioe in the kingdom to bpeb aooounts for the purpose of superannuation ;

I propose that any man or woman at any time should be able to go to the post office and open an aooount, either by a small payment or a larger payment, by periodical paj menta 'at shorb intervals, or paymeut of lump sums if more oonvenient. It may be so muoh a week, or, if he finds that inconvenient, be might put in 10s to-day and £1 a year hence, or £1 in six monthß after-* waidr. Everything he puts in remains at iiterest until he reaobes 65, and thon, and then only, it may be withdrawn in tbe shape of a fixed anuuity for the rest of his life.— (Obeers.) There will be no possible for" feiiure of polioy. Tho man who puts this money in will reoeiv-3 (for that is pan of my propositi) 6 per oeut. oompound interestdouble the rate tbe Government now Allow on ordinary savings bauk deposits— with withdrawal at any time. At any oase here iB a praotioal proposal, wbiob I believe may t?e realised, provided that it bad tbe full support and the cordial support of the working olßssea of this country,"