538 Abstract Report of Agricultural Discussions. 



1. The noblemen and gentlemen interested in agriculture to 

 subscribe to a guarantee fund, on the plan that was adopted at the 

 Great Exhibition. And in a matter of this importance the Government 

 to subscribe an equivalent amount ; engaging at the same time to 

 advance money for jn-eliminary expenses at a moderate rate of interest. 

 The Guarantee Fund only to make advances on loan, and the subscrip- 

 tions to be called for in instalments only in case of necessity. 



2. It may be convenient to commence operations in London through 

 a committee of management, to be nominated by the Royal Agricid- 

 tural Society of England. Similar committees may be constituted in 

 Scotland by the Highland and Agricultural Society of Scotland ; in 

 Ireland by the Eoyal Agricultiu-al Improvement Society. Insurance 

 is as much required in Ireland as in England, and I conceive that it 

 is equally urgent in the present state of the cattle stock. 



3. An appeal, to be forthwith addressed, through the Statistical 

 Department of the Privy Council, to all the principal stock-owners of 

 the kingdom, requesting their concm-rence in a system of strictly 

 mutual insurance, to be upheld by the j)ayment of adequate j)remiums. 

 It would not be necessary at fii-st to address the numerous and less 

 intelligent small owners, as they would come in spontaneously when 

 the system was fully established. The remaining stock-owners would 

 then be requested to send in classified lists of their stock and of its 

 value in prepared forms to the Statistical Department, where they 

 would be duly classified in counties. 



4. It is probable that a shilling a month would insure 107. on a 

 healthy beast exposed to ordinary risks ; and, under good arrangements, 

 in any counties afflicted with future plagues of rinderpest and 

 jmeumonia, the premiiun would not exceed two shillings a month, and 

 that only for a limited term. Power should be taken to adjust the 

 rate periodically, so as to meet the reigning risk. There woidd thus 

 be one common rate of premium, but the risk on milch-cows in towns, 

 and in infected and imhealthy districts, would be met by equitable 

 additions to the ordinary premimn. 



5. Stocks might be classed according to insurable value and risk, so 

 as to insm'e a sj^ecified sum per head on each class. 



6. The general terms of insurance being submitted to owners who 

 had sent in returns, they would then be asked to insure their stock by 

 the agents of the society, and would obtain policies of insm*ance upon 

 jiayment of the first premium. An account would be opened with each 

 owner in a ledger. 



.7. The common premium to be at the rate of Is. a month, which 

 may be commuted into a single annual payment of lis. dowTi on lOZ. 

 beasts, and so on in projiortion to insm-alde value. No calf and no 

 beast worth less than 57. to be insured. The insurance policy might 

 be transferred by endorsement, on the sale of cattle being registered 

 in the insurant's account. Horses and sheep may also be insured on 

 terms agreed upon. 



8. The premiums, after providing a reserve fund for times of plague, 

 to be adjusted on the experience of the society, and to be calculated 

 from that experience by an actuary, so as to meet equitably the various 

 risks on different animals at different ages. 



