In this way, life assurance may be regarded in the light of a contract, by which the inequalities of life are to a certain extent averaged and compensated, so that those who die soon—­or rather their families—­become sharers in the good fortune of those who live beyond the average term of life.  And even should the assurer himself live beyond the period at which his savings would have accumulated to more than the sum insured, he will not be disposed to repine, if he takes into account his exemption from corroding solicitude during so many years of his life.

The reasons which induce a man to insure his house and stock of goods against the accident of fire, ought to be still more imperative in inducing him to insure his life against the accident of disease and the contingency of sudden death.  What is worldly prudence in the one case, is something more in the other; it has superadded to it the duty of providing for the future maintenance of a possibly widowed wife, and orphaned children; and no man can justly stand excused who neglects so great and binding an obligation.  Is it an obligation on the part of a husband and father to provide daily bread for his wife and children during his life?  Then it is equally an obligation on his part to provide means for their adequate support in event of his death.  The duty is so obvious, the means of performing it are so simple, and are now so easily placed within the reach of all men,—­the arrangement is so eminently practical, rational, benevolent, and just,—­it is, moreover, so calculated to increase every wise and prudent man’s sense of self-respect, and to encourage him in the performance of all proper social duties,—­that we cannot conceive of any possible objection that can be urged against it; and it is only to be regretted that the practice is not far more general and customary than it is, amongst all classes of the community.[1]

[Footnote 1:  It may be mentioned that the total amount assured in existing British offices, mostly by the middle classes, is about three hundred and fifty millions sterling; and that the annual premiums payable amount to not less than eleven millions sterling.  And yet no more than one person in twenty of the persons belonging to the classes to whom Life Assurance is especially applicable, have yet availed themselves of its benefits.]

The Friendly or Benefit Societies of the working classes are also Co-operative Societies under another form.  They cultivate the habit of prudent self-reliance amongst the people, and are consequently worthy of every encouragement.  It is certainly a striking fact that some four millions of working men should have organized themselves into voluntary associations for the purpose of mutual support in time of sickness and distress.  These societies are the outgrowth in a great measure of the English love of self-government and social independence,—­in illustration of which it maybe stated, that whereas in France only one person in seventy-six is found belonging to a benefit society, and in Belgium one in sixty-four, the proportion in England is found to be one in nine.  The English societies are said to have in hand funds amounting to more than eleven millions sterling; and they distribute relief amongst their members, provided by voluntary contributions out of their weekly earnings, amounting to above two millions yearly.