3-028-408 - The Print Collector/Heritage Images

The late Mr. Tidd Pratt, 1870. John Tidd Pratt, Registrar of Friendly Societies in England, was '...the barrister appointed to certify the rates of savings banks. He has lately done a public service in disclosing the unsound condition of some of the societies. He was especially anxious to bear his testimony against the irregular and arbitrary management of certain insurance companies, under the name and guise of friendly societies...[He] contended that some exceptional legislation was needed for the control of these associations, with a view to the protection of the poor persons who subscribed in hope of the benefits promised; and who,...having no share in its management, were unable to obtain redress in case their just claims were denied. Arbitration was "a sham and a mockery;" legal proceedings gave them no chance against such an opponent..."[such societies]...are really established," he said, "for the benefit of the directors, managers, collectors, and agents, and not for the benefit of those classes for whom friendly societies are intended"...Mr. Tidd Pratt was accustomed to use his active intelligence in constant efforts for the improvement of the condition of the working classes by a better administration of their savings'. From "Illustrated London News", 1870.