Custody Of Lodge Funds.

CUSTODY OF LODGE FUNDS .

THE resolutions passed in Grand Lodge at its meeting on the 5 th Juno last , as to tho future investment of its funds were , on Wednesday , 11 th inst ., confirmed by the passing of certain resolutions defining where and in whose names the monies of Grand Lodge should in future he

deposited . The measures now to be adopted for the safe custody of the funds offer a security such as should satisfy the most particular among our number , enacting as they do that all monies shall be deposited in the Bank of England in the joint names of the Grand or Pro Grand

Master , the Deputy Grand Master , aud the Grand Treasurer ; and that all cheques for amounts duly voted by Grand Lodge shall be signed by the Grand Treasurer , and countersigned by tho Grand Secretary . The first part of this resolution , stipulating that the money shall be

placed in the Bank of England , is no less a result than could have been expected taking into consideration the unfortunate nature of our recent experiences . In fact , for some time past , it has been urged by various members of Grand Lodge , that the laws on this question are really

out of date , and the Freemasons of England ought to havo their now considerable funds placed in the custody of the first of our great banking establishments . Naturally , this would have been a very delicate matter to bring forward while tho late Grand Treasurer retained the

position ho had filled for so many years , and whose long occupation of that important office fairly entitled him to the confidence reposed by Grand Lodge , but it is a question that has been growing each year in importance , and one that would eventually have demanded consideration under

any circumstances . We arc gratified , then , in recording that on this , its first opportunity , Grand Lodge has taken the initiative step , and that for the future we may consider tho funds of Grand Lodge as secure as it is possible for human laws to make them . Still we think the duty of

Grand Lodge does not end here ; we should have preferred to havo heard a suggestion made that some similar alteration should bo effected in the rules governing Provincial and Private Lodges . We , of course , may rely on some of the more important Provinces

following the example set by Grand Lodge , and perhaps a few of the wealthier private Lodges may likewise do so ; bnt were it officially recommended to every Lodge in the kingdom , and some suggestion offered as to the means likely to be most successful , Ave consider that at least

onehalf the Lodges would adopt such a recommendation—or some modified form thereof—before another year had passed . We consider that Grand Ledge would thus be studying its own interests , and at the same time act its part of " guide , philosopher , and friend" to every Lod ^ e

working under its jurisdiction . Amongst the members of Grand Lodgo it was a very easy task to find a responsible brother to fill the office of Treasurer , but in private Lodges it can hardly be denied that difficulties often arise . A few weeks since a correspondent wrote to us in

rather strong terms regarding tho Treasurer of his Lodge , who , he stated , was , for certain reasons , unsuited to fill that office . Since that time we have received

communications from other parts of the country , —that our correspondent ' s picture was an exact outline of the Treasurer of our several correspondents' particular cases , thus making it certain that the individual Lodtre referred to WJS

not alone in its misfortune . Again , it has occurred when a Lodge has lost its funds through calamity or misfortune

Custody Of Lodge Funds.

overtaking its Treasurer . At the present time we are reminded of two cases , which have recently occurred , where Lodges have suddenly found themselves penniless , and in each case the loss is considerably over £ 100 . These we fear aro but examples of what takes place year after

year , and of what will continue so long as the present system remains in vogue . We are not opposed to Treasurers in general ; far from it ; for , as a rule , more good-natured or liberal members cannot be found in a Lodge ; still we hold that the svstem is bad , and in support of this assertion

ample evidence can be adduced if necessary . One brother , who is in a position which makes his opinion worthy of all consideration , lately stated in our presence that he would be pleased to have as his income the interest on monies which had been lost to Lodges from the various canses

we have referred to , and gave it as his opinion that this would be amply sufficient to warrant his retiring from business , and to provide himself and family with everything they required . It is a matter , however , that must be approached in the various Lodges with the greatest

caution , unless Grand Lodge think it desirable to refer in some way to it , then the question could be freely discussed without giving offence to the most sensitive Treasurer ,

who would thus know he was only one of considerably over a thousand similarly placed , who were being talked about , and many of the number would bring their experience to guide the members of their Lodge in their decisions .

Another question in connection with this subject is , —• Could not the funds of each Lodge be so invested as to hear interest ? When wo take into consideration the immense amount whioh would represent the balances of the various Lodges in England , we can but regret that these

balances arc not earning something . Say , for example , the number of Lodges in England having funds in hand are ono thousand , and that on an average their balance is £ 10 , we thus have a sum of no less than £ 10 , 000 , which , if invested at three per cent ., would produce sufficient to

provide for the clothing , education , & c , of two boys and two girls in our Schools , and then leave enough to place two additional annuitants on both the Male and Female Benevolent Funds . Thus , in a way which would injure no one , should we be able to provide for eight more in our

Institutions . Again , the average balance might with safety be reckoned at £ 15 or £ 20 , in such case the benefits arising from the interest conld be shared by twelve or sixteen persons respectively . That numerous amounts of apparent insignificance make considerable differences in the

totals received by our Charities is clear from the large sums which are annually raised by the Associations formed in London , and some parts of the country , for obtaining Life Governorships by weekly subscriptions of Is or b'd each . Tbe greatest obstacle we see

to tho carrying out of this scheme is , the difficulty of investing tho money easily ; but this is an obstacle readily overcome . In every town where a Lodge is held there is a branch of some one or other of the large banks , aud at any of these deposits may be made which , on an average , would

realise say 2 \ per cent . If any of our readers think the question worthy of consideration , it will gratify us to hear their views on the subject , but we hope to see some Lodge take steps to inaugurate snch a fund as

we point out could be raised . We remind brethren that the average sum required from each Lodge , to provide for the accommodation of four more children in addition to two aged Masons and two widows , is but six shillings per annum .