The Waikato Times.

Waikato Times, Volume XIII, Issue 1055, 18 January 1879, Page 2

The Waikato Times.

Equal and exact justice to all men, Of whatever state or persuasion, religious or political. » * » * * Here shall the Press the People's right maintain, Unawed by influence and snbribed by gain. SATURDAY, JANUARY 13, 1879. Government Assurance Agents and others have again and again inculcated upon the working man the desirability and advantage of insnr> ing his life, so that, at death, some little provision may be made for his widow and family, bub, good as such advice may be, the step which ths Government is now taking, of preparing new tables of life assurance, by which fortnightly payments will be received at any post office in the colony, is infinitely more to the purpose. Every year, the advantages of life assurance are becoming more widely known and appreciated. The Colony of New Zealand owes much to Sir Julius Vogel, in this matter. He, it was, who cleared the first great difficulty out of the way, by the establishment of a State Assurance Department, whioh, giving to assurers the guarantee of the Colony, removes the want of confidence and doubt in 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 Government was meddling in a field which properly belonged to private enterprise, but a simple narration of the facts, brought to light some years since by a commission of the British Parliament, showed the necessiiy there was for legislative influence of some kind. Out of 258 life assurance companies floated in Great Britain, only 44 were then in existence, the remainder having either been absorbed into more vigorous rival institutions, failed, or being then in process of being wound up. About the time that Sir Julius initiated the Life Assurance Department in the Government of New Zfldland, public confidence ip assurance companies had received a heavy shock in the failure of a large and supposed flourishing public institution of this kind. If life assurance was to become general amongst the people of the colony, it became evident that some surer security should be afforded for their invjstments, and this was effected by the New Zealand Legislature requiring all such companies trading in the colony to give a certain security 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 has been to reduce the premium to the lowest possible amount, and as it offers the guarantee of the colony, low premiums have proyed a safe and legitimate attraction. The step now proposed to be taken will bring the benefits of life assurance within the reach of a class which has hitherto least of all others I availed itself of its advantages. In many cases it requires too much effort to meet the half-yearly or even quarterly premium, but when it comes to be a mere fortnightly payment we do not see why the very poorest of the working class should realise the benefits of life assurance equally with those who are better off The means will will be fully open to him if he will only use them. The poorest laborer can affard to put by two penoe halfpenny per day out of his earnings, and a man of thirty years of age by sinsply 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 shilling ; or to . himself if he be alive at G5 years of J age. By increasing the sum to three pence half-penny per day his family will have the same advantage at his death,or if he survive, he will himself receive the sum of £150, when 55 years of age. Novr, many might have said that though they could spare two pence half-penny per day, they could not so readily find the full amount of the premium quarterly or half-yearly, But, here, the Government will step in, and taking the premium fortnightly, will enable the assurer to piy in shillings what he would never have scraped together if paid in pounds. We have addressed these remarks to working men. More properly, perhaps, we should have addressed them to their wives. It is they who are tho most deeply interested in this matter. It is they who may best induce the husband to make this provision, or, failing to do so, take the matter in hand and themselves do it, There are few such. .

women who do not or cannot contribute in some part to the weekly eamings of the family. Can' they not spare a single penny, a few pence, a shilling a week, to render the loss of the husband, that miy happen at any moment, less bitter to them in its consequences. If he neglects, they at least can keep up the premium, aud save themselves from a position, than which nothing can be more terrib e to a woman with helpless little ones depending upon her.