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CHAMBERS’S JOURNAL
OF
POPULAR
LITERATURE, SCIENCE, AND ART.
CONTENTS
POST-OFFICE LIFE-ASSURANCE AND ANNUITIES.
BY MEAD AND STREAM.
MY OLD COLLEGE ROOMS.
MY FELLOW-PASSENGER.
THE MONTH: SCIENCE AND ARTS.
THE PROGRESS OF PISCICULTURE.
A PLEA FOR THE WATER-OUSEL.
BOOK GOSSIP.
OCCASIONAL NOTES.
No. 17.—Vol. I.
Price 1½d.
SATURDAY, APRIL 26, 1884.
POST-OFFICE LIFE-ASSURANCE ANDANNUITIES.
The numerous aids which the government havefrom time to time afforded through the agencyof the Post-office for the encouragement of thriftand providence amongst the poorer classes havegenerally been attended with so much success,that it is surprising to hear of even one exceptionin regard to such efforts. There is no doubt,however, as was pointed out two years ago inthis Journal, that the existing scheme of Post-officeLife-assurance and Annuities, which hasbeen in operation since 1865, has sadly hung fire,and but little advantage has been taken of thesystem, as may be inferred from the fact, thatalthough it has been established almost twentyyears, the total number of policies for life-assuranceissued during that period is not more thansix thousand five hundred and twenty-four; whilethe number of annuity contracts granted duringthe same period is only twelve thousand fourhundred and thirty-five. Taking the latestreturns, too, we find that the life policies nowexisting have dwindled down to so low a numberas four thousand six hundred and fifteen; whilethe number of annuity contracts now only reachesnine thousand three hundred and seventy-three.These figures at once show how trifling andunimportant have been the results from thisbranch of Post-office business; but perhaps thecauses for this want of success are not far to seek,if we consider how circumscribed and restrictedthe present system is in its action.
It was but natural, therefore, that so energetic areformer as Mr Fawcett should speedily turn hisattention to this important subject, on taking thehelm in the affairs of the great department overwhich he has so ably presided during the past fouryears. A select Committee of the House of Commonswas appointed in 1882, of which the Postmaster-generalwas chairman; and after thoroughlyinquiring into the whole subject, that Committeeunanimously recommended in their Report theado