INVESTMENT OF SMALL SAVINGS.
STR—I was much pleased with the excellent letter of" A. W. W." in your last impression on this subject and should like to add a few words on the Sick and Burial Clubs. Your correspondent has pointed out the evils that are too often connected with these useful societies ; evils that often render them improvident rather than prorident institutions. But he appears to bays: overlooked the fact that within the last five or six years sonic working men, seeing these evils, have, by combining the extensive ramifications and accurate data of life assurance companies with the economic management and local supervision of the old clubs, succeeded in forming safe and at the -same time profitable investments for the modicum they can save from their small weekly earnings.
Several of these societies have latterly sprung into existence, and a short notice of one of the first and most successful may, perhaps, be interesting to those of your readers who feel an interest in the amelioration of the condi- tiOn of the producing classes. This institution bears the appropriate name of the Friend in Need. The officers, as in the old clubs are chosen by and from the members, but there are no publichouse meetings or spending money allowed, neither like some of the secret orders is there anything spent for the frippery called "re- galia "; all the contributions being strictly applied in paying the claims, and the necessary expenses of management. The tables show a slight increase in the rate of payment each year from ten to seventy, thusplachig all the mem- bers on an equality, charging each the exact sum due at their age, and avoid- ing those disastrous results so feelingly depicted by A. W. W.
That this new plan is appreciated by the toilers is shown by the fact, that within the last five years 0,000 members have joined this one society alone, which is now enrolling 2000 members a month. If to this grand army are added the four or five kindred institutions, and we take their members as amounting only to an equal number, we shall see reason for hope that the time is not far distant when by their own prudence and self-denial the working-classes may have something better than the prospect of the union to end their days in ; for I find that this same society is now paying above 10001. a month in sick and burial claims to its members besides finding them Medical attendance. If we take into account the moral as well as the pe- cuniary benefits thus conferred not only on the actual members but on their families, and the circle of their acquaintance, I must agree with your cor- respondent that it is one of the best proofs they can give of their being worthy to receive an extension of the franchise. G. W.
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