A Vindication of the Present Order of Friendly Benefit Societies, and Their General Conduct and Government Defended from the Illiberal Observations and Unjust Aspersions of the REV. J.W. Cunningham, by a Secretary and Member of a Friendly

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1817 edition. Excerpt: ... and so deceived. The failures that have happened amongst the country bankers at different periods within the last twenty-five years, with the other speculating great men that have been brought down along with theni, have no doubt greatly affected the funds of many of these clubs. It is otherwise in the metropolis, the Bank of England is the principal repository of their treasure; and when that is not the case, it is generally with the porter-brewer, where 1 should consider, as it respects the stability of any of those no vr in London, it would be equally safe, and if at five per cent, interest, more advantageously deposited. The publican, who may be considered a kind of sub-treasurer, seldom has in hand more than is sufficient to defray the outgoings from one monthly night till the next, for which he is obliged to give security to the club, and that of a nature so undeniable, as to preclude the possibility of their funds being affected by any untoward circumstances that might befal him, either through his failure or death. With such precautionary care and circumspection, losses in this way are now seldom heard of. The societies among the poorer classes have no doubt formerly been great sufferers in this way, which may be attributed to the whole management of their affairs having been entrusted to the secretary, to whom and chance every thing was left; and who, notwithstanding he was homaged and worshipped, and almost idolized, yet in many instances seldom atteuded his duty unless it were to receive his salary, or give out his mandatory or general orders to the members (his employers), or particular ones to his deputy, perhaps a school-boy or his own apprentice, who would preside in his absence with all the hauteur incident to juvenile...