INTRODUCTION.

45

83.  A  word  o£  caution  may  be  added  against
forming  too  hasty  conclusions  adverse  to  Friendly
Societies  if  it  should  turn  out  that  the  valuations
in  many  cases  show  an  estimated  deficiency  in
the  funds  to  meet  the  liabilities.  It  would  be
strange  if  it  were  otherwise  when  for  the  first
time  scientific  tests  are  applied  to  contracts  that
have  been  in  operation  without  a  scientific  basis
for  a  long  series  of  years.  It  must  be  borne  in
mind,  however,  that  nothing  is  more  elastic  than
the  contract  made  by  a  Friendly  Society  with  its
members;  no  error  more  easy  of  remedy  if  found
out  in  time  than  one  existing  in  the  original  terms
of  such  a  contract.  Hence  the  words  “  insolvency,”
“  rottenness,”  and  the  like,  which  we  sometimes
hear  freely  used  as  describing  the  general  condition ­
  of  Friendly  Societies,  are  utterly  out  of
place.  Of  Friendly  Societies  in  general  it  may
be  said  that  as  there  are  no  associations  the
benefits  of  which  are  more  important  to  their
members,  so  there  are  none  that  are  managed
with  greater  rectitude,  and  few  with  equal  success.
84*.  The  Editor  has  to  thank  the  Chief  Registrar ­
  of  Friendly  Societies,  Mr.  J.  M.  Ludlow,
for  the  kindness  with  which  he  has  accorded
valuable  advice  and  aid.  Mr.  Edward  F.  Brabrook
has  assisted  in  the  revision  of  the  Index,  the
copiousness  of  which  will,  it  is  hoped,  greatly  add
to  the  usefulness  of  this  Work.

tlie  Registry  Office  is  a  ready  and  useful  auxiliary  to  them,
and  that  the  trouble  it  gives  them  is  more  than  met  by
compensating  advantages.”—Encyclopaedia  Britcmnica,  9th
Ed.,  Art.  “  Friendly  Societies.”