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second, an interested motive may induce directors, or share- 
holders, to effect an amalgamation with a rich and substantial 
office — a proposition in no way obj ectionable, when there exists 
the least doubt of success, or of permanent stability, to the 
affairs of a young company. 
Fraud, and various other kinds of irregularities in life as- 
surance offices, are to be attributed, when they do occur, to 
directors either being too much engrossed in their own affairs, or 
understanding too little of those of the company, to enable them 
to form an opinion upon its financial position. Hence the 
utility of that very useful class of men — actuaries, auditors, and 
accountants. A system of audit by men of great experience 
and sagacity is, indeed, most essential in every life assurance 
office. Experience also shows that legislative interference may 
wisely be used to protect the interests of private individuals, 
who are now so largely disposed to invest in our numerous 
mutual and co-operative associations. Auditors elected by 
shareholders themselves are often unsafe, their investigations not 
extending sufficiently into details. In calculating risk, and the 
many financial investigations contingent upon life, the highest 
mathematical and scientific education is necessary to get at true 
results ; and none but an experienced and trained actuary can, 
with a prospect of success, undertake these duties. We coincide 
with Dr. Farr, that a settled system of annual audit should be 
instituted, and such returns made to Grovernment as shall enable 
sound offices to establish, without a doubt, their ability to fulfil 
their engagements. 
Much more might be written to illustrate the connection of 
life assurance doctrines with co-operative industrial associations, 
investment of savings, freehold land and building societies, 
and their adaptability for the better regulation and security of 
friendly societies; and lastly, it' may be predicted that a time 
may arrive, when it will be considered a national duty to enforce 
a tax upon the whole population, to meet the social miseries 
arising from improvidence, sickness, accidents, sudden and un- 
expected emergency into the less favoured ranks of life ; rather 
than submit to the inequalities and unfairness of compulsory 
rates on the property and industry of a few. The poor rates 
are a burden upon the industrial energies of the middle class, 
and fail in their object ; for, neither in theory nor in practice 
will they keep large numbers of people from destitution, even 
in this rich country. Men should legally endow themselves ; for, 
just as security is the foundation of civilisation in a state, the 
adoption of measures by individuals to mitigate the effects of 
prospective misfortune, is the best foundation of social pros- 
perity. 
