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
In the church and churchyard of Yarmouth, 7052 were buried in one year.
Within six months, in the city of Norwich more than 57,000 died. In
London, death was so outrageously cruel that every day saw twenty,
sometimes forty, and sometimes sixty or more dead bodies flung into
one pit. The churchyards became crowded. Fields and additional places
of burial were set apart, and these soon failed to suffice; the number
of the dead increasing so rapidly that “they were fain to make deep
ditches and pits very broad, wherein they laid a range of carcasses and
a range of earth upon them, and then another range of dead bodies,” and
in this manner the people, except those of the better sort, were placed
in their long home. The cattle died in hedges and ditches by thousands
for want of men to attend them. All suits and pleadings in the King’s
Bench and other places ceased. The sessions of parliament were stopped.
England and France forgot for a time that they were “natural enemies.”
County, city, and town witnessed solemn prayers and public processions
for days together, and God was implored in highway and in byway to
“sheath his angry sword and preserve the residue from the devouring
pestilence.” When this pestilence which yet yearly threatens our coast
had passed away, it was found that its prey had been chiefly old men,
women, and children of the “common sort of people,” and that but few
of the nobility of the land had been seized by it. Property was for
a long period depreciated: that which was previously sold for forty
shillings, only fetched a mark; and the Scots in scorn invented a new
oath, swearing in contempt “by the foul deaths of the English.”
CHAP. XIV.
SELECT COMMITTEE OF 1841.--INSTANCES OF DECEPTION.--PUBLICATION
OF ACCOUNTS.--NEW COMPANIES--ASSERTIONS ABOUT THEM--THEIR
IMPORTANCE--SUGGESTIONS CONCERNING THEM.
A select committee was appointed in 1841 to consider the laws relating
to joint stock companies. It concluded its labours in 1843. There was
an evident want of amendment in these laws. For about fifteen years
prior to 1840, the world had been at the mercy of any one who chose to
publish an advertisement, call himself a company, and receive money
for assurances and annuities. Vast sums had been obtained, therefore,
by daring adventurers of the Montagu Tigg school, who launched with
avidity into this branch of business. Besides the loss by the West
Middlesex, nearly half a million sterling had passed from the pockets
of the public to those of projectors; and the following instances will
prove that government were not called upon to interfere without a sad
necessity:--
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account