The distinguishing feature of the Institute is its applying the principle
of Life Assurance in all its transactions.
The _Subscriptions_ of the _Honorary Subscribers_ are applied to an
Assurance of the Life of the Donors.
For instance,--The Right Honourable Benjamin Disraeli, Esq., sends a
Donation of Twenty-five Pounds, which is immediately invested on an
Assurance on his life, and will ultimately produce to the Institute an
Endowment of 42l. Or to take another instance,--The Right Hon. Lord
Viscount Goderich subscribes Two Guineas per year, which is invested in
like manner on an Assurance on his life, and will ultimately Endow the
Institute with 100l. And thus the Honorary Subscriptions, instead of being
spent as soon as received, are made to form a Capital Fund, which will be
ultimately available, as the Lives fall in, to the Provident Members and
Participating Subscribers.
The application of the subscriptions of the Honorary Members to assuring
their lives, has these advantages:--It tends to create a large capital
fund--It enables the Honorary subscribers to see that the undertaking is
successful, before their money is expended--It transforms such
subscriptions from being an alms-giving for personal purposes, into an
Endowment for the general benefit of Literature--It is not like most alms
subscriptions to go in casual relief, but to produce a permanent result;
such as the foundation of a Hall and chambers, and ultimately the complete
organisation of Literature as a recognised profession; to endow permanent
annuities, and otherwise aid Literature by succouring Authors.
By this arrangement a very strong inducement is given to the Working
Literary Men to subscribe to this Institute and Society beyond all others:
as they will not only have all the benefits and profits arising from their
own subscriptions, but participate in the Capital Fund, which, there can be
no doubt, will be augmented by Donations, Legacies, and Endowments. There
is also the special advantage peculiar to such an Institution, of
NOMINATING A WIFE OR CHILD to receive immediately the Amount ASSURED at
decease IRRESPECTIVE OF ALL OTHER CLAIMS.
_The Subscriptions of the Participating Class_ are as follows:--
ONE GUINEA must be subscribed by every member, which goes towards the
expenses of the Institute and the support of the Philanthropic Fund. For
this he is entitled to be a candidate for assistance from the Philanthropic
Fund; has a Vote at all the General Meetings of the Institute; and will be
entitled to certain benefits from the Education and Protective Branches of
the Institute when they are brought into operation.
EVERY GUINEA SUBSCRIBED ANNUALLY _beyond_ the first Guinea above mentioned,
produces the Subscriber an Assurance on his life, according to the Tables
specially calculated by the Consulting Actuary of the Institute, and which
are in compliance with the Act of Parliament regulating such matters. The
Policies are issued by the Institute under the Friendly Societies' Act, and
which are legally guaranteed by the Athenæum Life Assurance Society, which,
also appealing more particularly to Literary and Scientific Men, has made
an arrangement that is liberal and advantageous to the Athenæum Institute.
By this arrangement every Provident Member is equally safe, whether the
members of the Institute be few or many.
One Subscriber is thus rendered as secure as a thousand.
Annual Subscribers of Two Guineas or more are entitled to become Directors:
and in awarding relief, regard will always be had to the amount subscribed.
It will be perceived by these arrangements, that every member of the
Athenæum Institute has the full value returned to him of _every_ Guinea
subscribed _beyond_ the first, in a Policy on his life; and that he also
has a participation in the Capital Fund formed by the Subscriptions,
Donations, and Endowments of the Honorary Subscribers; a privilege which it
is probable will add from fifty to a hundred per cent. to his individual
contributions.
The Friendly Societies' Act, under which the Institute is registered, will
not permit a member to make an Assurance beyond 100l., the Institute is
therefore limited to this amount: but the Athenæum Life Assurance Society,
which so liberally assists the Institute, will insure to any amount, and in
any mode. It is desirable that the members of the Institute should assure
up to the 100l. allowed by the Act, and the Tables will shew the annual
amount required, according to the Age of the Subscriber. The power of
NOMINATING A WIFE OR CHILD, irrespective of all other claimants, is also a
great inducement to assure in the Institute to the utmost amount, namely,
100l.
It is contemplated, as the Institute progresses, to add PROTECTIVE and
EDUCATIONAL Branches.
The union of numbers has established the various Commercial and
Philanthropic Institutions of the Empire, and it is earnest urged that
Authors and Journalists should take advantage of their numbers. Nothing can
be accomplished without numbers--with them everything. The appeal now made
is universal in its application to Literary workers, and it is hoped it
will be responded to so as to neutralise all cliquism, whether arising from
literary sectarianism, or the antagonism of political sentiments.
F. G. TOMLINS, Manager,
30. Sackville Street, London.
*** Members are admitted by the Directors (who meet monthly) according to
forms which will be transmitted on application.
Post Office Orders to be made payable to the Managing Director at Charing
Cross Money Order Office.
The Rules of the Institute, as legally drawn up by high professional
authority, and as certified by the Registrar, can be had, price 1s. 6d., or
2s. by post, pre-paid.
Prospectuses (with Tables calculated especially for this Society) may be
had, gratis, at the Office, 30. Sackville Street, or of Mr. Charles
Mitchell, Agent to the Institute, Newspaper Press Directory Office, 12. Red
Lion Court, Fleet Street, London.
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