Benefit or Friendly Societies. 313 



tories to which they are limited,— a striking illustration of 

 which shall be given in our next Number. It is not, there- 

 lore, without regret that we see it recommended by the Com- 

 mittee of 1825 that the law of arbitration should be repealed. 

 If this suggestion be adopted, Friendly Societies will be deprived 

 of one of their greatest safeguards, and be subjected to the irre- 

 vocable decisions of the Petty Sessions of the Peace, which are 

 frequently composed of persons but very imperfectly acquainted 

 with the principles of the contract of mutual assurance govern- 

 ing such institutions, and but too apt to pay little or no atten- 

 tion to the regulations which they themselves have sanctioned, 

 and on which alone they ought to found their decisions. 



It has been already remarked, that the statute by which 

 Friendly Societies in England are allowed 4J per cent, from 

 Government for their money, does not extend to Scotland. If 

 this important benefit is still to be granted by the statute 

 of which notice has been already given by Mr Courtenay 

 in the present session of Parliament, it is trusted that the 

 Friendly Societies of Scotland will not be again excluded. If 

 they are willing to comply with all the conditions required from 

 those in England, it is but fair that they should be likewise 

 entitled to the same privileges. Both kingdoms are under the 

 same government — both are under the same system of taxation ; 

 therefore, " where all contribute alike, all should receive alike ; 

 and it is only where double benefits are wanted, that they should 

 be refused, or paid for accordingly." 



Friendly Societies are exempted by statute from all stamp- 

 duty upon bonds granted by their treasurers; and it is pre- 

 sumed, that it was only from their payments being hitherto so 

 small as not to require stamps, that they were not exempted 

 from all stamp-duty whatever. As these societies, however, will 

 be now upon a more extensive scale, and be managed upon the 

 same principles with the higher assurance companies, it is to be 

 feared that receipt, policy and other stamp duties will become a 

 very heavy burden, and one which they will be ill able to bear. Ft 

 is therefore also hoped, that this subject will not be overlooked 

 by the legislature in the enactment of any new law for the be^ 

 nefit and encouragement of these laudable and highly use^:iii- 



sUtutions. .,.)/ .,,i^^^^>f; ^.Ir^ic^i j^f^^I " 



(To be continued,) 



