The almost phenomenal advances that have recently been made in the business of industrial assurance have brought this branch of our provident system into a position of national importance. Ten years ago, the business of our industrial companies was, roughly speaking, as under:—

whereas to-day it is, approximately,

Beyond the business of these companies, a very large number of industrial assurance contracts exist in the societies, clubs, and various orders registered under the Friendly Societies Act of 1875.