[195] We have not space to go over the ground of the change; nor is it necessary, seeing how imperfect was the amendment introduced in 1853. Mr. McCulloch, however, in his _Statistical Account of the British Empire_, vol. ii. p. 712, may be said to have summed up in the following sentence the reason which sufficed to induce the Legislature to amend the Act of 1834:--"The influence of the Act (1834), so far as it extends, is subversive of accumulation, and goes to encourage the selfish and unsocial propensities by tempting individuals to consume their whole property during their lifetime, without caring anything for those who might come after them. Had Government given facilities to the middle and lower classes for insuring sums for their wives and children in the event of their death, it might have been highly advantageous. But the system they have set on foot does not encourage providence, but extravagance; and if extensively acted upon, would be so very hostile to the public interests, that it would have to be put down by legislative interference." We should think that there could not be much chance of successful legislation if it were based upon such arguments as the foregoing; and successful it was not. [196] _Hansard_, vol. clxxv. p. 479. [197] "Seriously speaking," said another writer, who signed, "One well behind the Scenes," in the _Times_ of 18th February, and had been indulging in all kinds of pleasantry on the impossibility of the Government undertaking Life Insurance, "if Mr. Gladstone must go into business, he had better take an easy business first, and have Government ginshops at one corner of the street, and Government tobacco-shops at the other, and leave the delicate matters of Assurance for the present." [198] The _Times_ and the _Daily Telegraph_. [199] Between 8,000 and 9,000 of these Societies have failed since the passing of the Friendly Societies Act. It has been calculated that about 100 Societies fail in each year. [200] _Hansard_, vol. clxxii. p. 1581. [201] _Hansard_, vol. clxxiv, p. 1474. [202] Both Tables and Regulations may be obtained quite easily at any Post Office opened for the transaction of this business, and an Abstract of the Regulations, entitled _Plain Rules for the guidance of Persons desiring to Insure their Lives or to purchase Government Annuities_, has been and still is distributed widely, and may be had gratis from any postmaster or letter receiver.