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Article THE GENERAL ASSURANCE ADVOCATE. ← Page 3 of 6 →
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
The General Assurance Advocate.
with those who toil to raise all , antl without destroying a single existing good , endeavour to create and distribute fresh benefits to mankind . From the great of any class we would not rend an honour whieh is clue to them , and would strictly render unto Cassar those things which are Ctesar ' s , and bearing a grateful memory of those great moral advantages rendered to our empire of Life Assurance by the Amicable
ancl Equitable Societies ( which we instance only as the elder institutions ) , we are willing to render full justice and proper admiration to their merits , to the powerful and effective efforts of their originators , and to the patience and industry to which the successful results that have ensued are attributable ; but , at the same time , we are bound by our duty to point out those inherent defects ancl errors from which evil ,
long latent , may be apprehended . That which many will regard as the strong point of these institutions we look upon as the weak one ; that which seems to the superficial glance to be the cement which holds together their bulwarks , assumes to us the form of the battering ram which may lay their fortifications in the dust—we mean their enormous capitals , and especially those vast accumulations which the Equitable
has gathered together . No good ever came , or ever will or can come , of hoarding for mere hoardings' sake ; it is the very principle of stagnation—the precursor of corruption ancl rottenness . Those tremendous
sums which grace with fallacious attractiveness the credit side of the books of those companies are the contributions of human labour—'' the sweat of man ' s face ; " ancl , like all resources gathered by the toil of the past , should be actively employed for the good of the present and the advancement of the future , and not be piled together as useless and inactive memorials of what has been done , and tantalising reminders of
what , with clue energy , competent knowledge , and sufficient philanthropy , might be effected . Besides , those accumulations are scarcely prudent ; the thick , fleecy coat of the sheep attracts the shearer—the richness of the spoil tempts the spoiler . We may some day have a government not proof against temptation , and then it may be a matter of regret that while we pray " Lead us not into temptation , " we have heen acting
the part of tempters . Were it not the fact , it could scarcely be credited that that magnificent office the Equitable , overloaded with the accumulated wealth of years , a MUTUAL OFFICE too of the olden time , but with scarcely one single active principle of the improved mutual system of the present age , still continues to exact the highest rates from its assurers , and still
continues to add to its millions of accumulated stock . ' AA'hat a boon it would be to its numerous members , if instead of adding to its unnecessary accumulations , an equitable adjustment of its Stock were effected at tlie earliest possible period , an operation which ,
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
The General Assurance Advocate.
with those who toil to raise all , antl without destroying a single existing good , endeavour to create and distribute fresh benefits to mankind . From the great of any class we would not rend an honour whieh is clue to them , and would strictly render unto Cassar those things which are Ctesar ' s , and bearing a grateful memory of those great moral advantages rendered to our empire of Life Assurance by the Amicable
ancl Equitable Societies ( which we instance only as the elder institutions ) , we are willing to render full justice and proper admiration to their merits , to the powerful and effective efforts of their originators , and to the patience and industry to which the successful results that have ensued are attributable ; but , at the same time , we are bound by our duty to point out those inherent defects ancl errors from which evil ,
long latent , may be apprehended . That which many will regard as the strong point of these institutions we look upon as the weak one ; that which seems to the superficial glance to be the cement which holds together their bulwarks , assumes to us the form of the battering ram which may lay their fortifications in the dust—we mean their enormous capitals , and especially those vast accumulations which the Equitable
has gathered together . No good ever came , or ever will or can come , of hoarding for mere hoardings' sake ; it is the very principle of stagnation—the precursor of corruption ancl rottenness . Those tremendous
sums which grace with fallacious attractiveness the credit side of the books of those companies are the contributions of human labour—'' the sweat of man ' s face ; " ancl , like all resources gathered by the toil of the past , should be actively employed for the good of the present and the advancement of the future , and not be piled together as useless and inactive memorials of what has been done , and tantalising reminders of
what , with clue energy , competent knowledge , and sufficient philanthropy , might be effected . Besides , those accumulations are scarcely prudent ; the thick , fleecy coat of the sheep attracts the shearer—the richness of the spoil tempts the spoiler . We may some day have a government not proof against temptation , and then it may be a matter of regret that while we pray " Lead us not into temptation , " we have heen acting
the part of tempters . Were it not the fact , it could scarcely be credited that that magnificent office the Equitable , overloaded with the accumulated wealth of years , a MUTUAL OFFICE too of the olden time , but with scarcely one single active principle of the improved mutual system of the present age , still continues to exact the highest rates from its assurers , and still
continues to add to its millions of accumulated stock . ' AA'hat a boon it would be to its numerous members , if instead of adding to its unnecessary accumulations , an equitable adjustment of its Stock were effected at tlie earliest possible period , an operation which ,