Annals, Anecdotes and Legends: A Chronicle of Life AssuranceFrancis, John, of the Bank of England
History
Annals, Anecdotes and Legends: A Chronicle of Life Assurance
Francis, John, of the Bank of England
Life insurance
Out of the above 229,250 he estimates that 86 were murdered; and,
alluding to a peculiar disease which had arisen, intimates that the
proportion of males was greater than that of females, in the words,
“for since the world believes that marriage cures it, it may seem
indeed a shame that any maid should die unmarried, when there are
more males than females; that is, an overplus of husbands to all that
can be wives.” “In regular times when accounts were well kept, we
find not above 3 in 200 died in childbed; from whence we may probably
collect that not 1 woman of 100, I may say of 200, dies in her labour,
forasmuch as there may be other causes of a woman’s dying within the
month.” He then attempted to show the population of London, from which
he had been a long time prevented by his religious scruples; but his
arithmetical mind was provoked by a “person of high reputation” saying
there were “two millions less one year than another.” To ascertain the
number he made many very interesting calculations, and came to this
conclusion:--“We have, though perhaps too much at random, determined
the number of the inhabitants of London to be about 384,000.” He then
gave the following table, which is perhaps one of the most remarkable
we have, the period and the material being taken into consideration:--
Of 100, there die within the first six years 36
The next ten years, or decad 24
The second decad 15
The third ” 9
The fourth ” 6
The fifth ” 4
The sixth ” 3
The seventh ” 2
The eighth ” 1
From whence it follows that, of the said 100 there remain alive--
At the end of 6 years 64
” 16 ” 40
” 26 ” 25
” 36 ” 16
” 46 ” 10
” 56 ” 6
” 60 ” 3
” 76 ” 1
” 80 ” 0
He says gravely of another of his calculations, “According to this
proportion Adam and Eve, doubling themselves every 64 years of the 5610
years, which is the age of the world according to the Scriptures, shall
produce far more people than are now in it. Wherefore, the world is not
above 100,000 years old, as some vainly imagine, nor above what the
Scripture makes it.”
That Captain Graunt was a man of no ordinary perceptive power let
his volume bear witness. In it he touches on almost every intricate
question which, despised when he wrote, has since been investigated
by Adam Smith, by M’Culloch, by Porter, by Tooke, and by all to whom
political economy is dear. The following will give some idea of the
character of these studies:--
Public-domain text, read in full here on John Shaqi.
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