ABSTRACT
OUR readers have probably expected from us, before this, some account of the Institution, the Prospectus of which stands at the head of the present article. Devoted especially to the interests of the Protestant Dissenters of Great Britain, it pertains appropriately to the Eclectic to take cognizance of every use which is made of their name, and to subject to a severe though friendly scrutiny, whatever solicits their support, or proposes their advantage. To this duty we now address ourselves with a more ready mind and with fuller and more satisfactory information than if the attempt had been made at an earlier period. Time has been allowed for the Institution to settle down, and take its rank among kindred societies; while the measure of support it has obtained may be considered as a fair index of the degree in which it is likely to secure the confidence of the dissenting body, and thus become instrumental in effecting the benevolent object for which it was formed. The excellency of that object admits of no question, – the only doubt that has ever been raised respects the probability of its attainment by the means proposed. How far there was ground for this doubt was at first matter of uncertainty. Some were confident of success, and others predicted failure. The former pointed to the number, wealth, and intelligence of the great body of British Dissenters, and were certain of their rallying round a society which proposed so simple, feasible, and delicate a mode of providing for the comfort of the families of our ministers; – the latter insisted on the number of Insurance Companies already existing, and impugned the constitution of the projected association, as an approach to the reprehensible and most vicious practice of exclusive dealing. Before / closing our remarks we shall notice these objections: our present object is simply to remark, that the experiment has now been tried for upwards of twelve months, and that the evidence of fact has been supplied during that period, to determine the question thus raised. The progress made during this period demonstrates beyond doubt the feasibleness of the plan, and the certainty of its accomplishment, even beyond the early expectations of its 168supporters. This is a great step gained, and places us, as public journalists, in a position to speak freely of the well balanced constitution and admirable design of the Society. The certainty of its securing such a measure of support as will enable it materially to contribute to the mental repose and domestic happiness of a class of men whose claims are unrivalled, as their labors are most abundant; relieves us from the only ground of hesitation we have ever felt in proceeding to canvass its merits. Before entering on our more specific design, however, we shall avail ourselves of the opportunity offered, to furnish our readers with some little information on the subject of life assurance in general; – a subject, than which, none more important occurs in the whole economy of domestic life. We are the more disposed to this from the ignorance which prevails even among well informed men, respecting the data on which assurance transactions are based. We have found on some occasions, with no little surprise, that these transactions have been regarded as kindred, if not identical, with those of the gambler; a notion which could never have been entertained if the first rudiments of the science on which they proceed had been understood. As in numerous other cases, so in this, ignorance has confounded the dictates of wisdom, the arrangements of an honourable prudence, with the recklessness of an unprincipled speculation. Let the matter be placed in the clear light of day, and its integrity will be visible. A few remarks will suffice to put our readers in possession of sufficient information to decide the matter for themselves.
