Annals, Anecdotes and Legends; A Chronicle of Life Assurance

Overview

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1853 Excerpt: ...The economical members pressed their point, and urged an investigation. Night after night they pursued their foes with clamour, and day by day they reiterated their assertions in the clubs. The reports and rumours which were spreading in the financial world, and the assertions which were everywhere made, ...
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Annals, anecdotes and legends: a chronicle of life assurance

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More About This Book

Overview

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1853 Excerpt: ...The economical members pressed their point, and urged an investigation. Night after night they pursued their foes with clamour, and day by day they reiterated their assertions in the clubs. The reports and rumours which were spreading in the financial world, and the assertions which were everywhere made, were, indeed, somewhat alarming. It was said that, according to Mr. Finlaison's report, 400,000/. a-year was being lost; many, determined not to be outdone, asserted 100,000/. a-week was the lowest estimate; others, that an insurance office had realised 60 per cent. by dealing in them. Statements like these were so injurious to the financial character of the Government, that it was found necessary to stop them; and the chancellor said that, aa only 640,000/. had been granted in the shape of life annuities, it was not very likely we were losing 100,000/. weekly; that Mr. Finlaison was employed in constructing tables; and that, though this gentleman had certainly stated the terms were too favourable, yet the true amount of loss would be difficult to attain, Mr. Finlaison's estimate being an abstruse calculation as to the amount of the National Debt which would be redeemed in sixty years, compared with the amount which would have been redeemed had no annuities been granted. This he estimated at 3,200,000/. leas than would have been attained by the Sinking Fund. At last, in 1829, Mr. Finlaison reported to the House, and the tables in connexion were certainly the most valuable of the kind then published. Access had been given to every document bearing on the subject. The registries of the tontines, the ages attained by the lives on which annuities had been granted a century previous--the experience of the offices--procured a mass of information which was turned ...
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Product Details

  • ISBN-13: 9781150540882
  • Publisher: General Books LLC
  • Publication date: 5/28/2012
  • Pages: 88
  • Product dimensions: 7.44 (w) x 9.69 (h) x 0.18 (d)

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