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
[30] “That the said Commissioners shall have full power to examine all
books, at all seasonable times, of such bankers as issue notes, and
to take copies or extracts from any such books or accounts.”--History
of the Bank of England, its Times and Traditions.--By John Francis: 2
vols. 3rd edition. Longman, Brown, and Co.
[31] The Morning Chronicle.
CHAP. XV.
EXTENSION OF ASSURANCE.--SOCIETY FOR ASSURANCE AGAINST
PURGATORY.--COMMERCIAL CREDIT COMPANY.--GUARANTEE SOCIETY.--MEDICAL,
INVALID, AND GENERAL.--AGRICULTURAL COMPANY.--RENT
GUARANTEE.--RAILWAY PASSENGERS.--LAW PROPERTY, AND INDISPUTABLE
SOCIETIES.--DISPUTED POLICY.
It has been found that there are unchanging principles which regulate
commercial losses; that the lives which are sacrificed by railway
accident have similar conditions; that the storm which levels the
wheat has its defined courses; that the murrain which devastates the
cattle is as fixed in its movements as the disease which destroys
humanity. To meet these casualties, societies have been started,
founded on laws originating in the doctrine of probabilities, and
regulated by tables to show the chance of their occurrence. Nor is
there any reason against--nay, there is every reason to believe
in--their success, provided only their promoters apply themselves with
diligence to collect sufficient data whereby to rule their operations.
Of one society only may a doubt be evinced and a smile raised at its
presumption, and this is the
SOCIETY FOR ASSURANCE AGAINST PURGATORY!
for supposing the threepence per week paid by the credulous peasant
be sufficient to satisfy the priest, yet there is every reason to
doubt that the prayers and masses of such mercenary pastors will
be sufficient to satisfy God. There is something half-grand and
half-grotesque in this impudent provision against an indefinite future.
THE COMMERCIAL CREDIT MUTUAL ASSURANCE SOCIETY
is characteristic enough of a mercantile people. Prior to the
foundation of such an institution, it is obvious that there must have
been some important statistical information connected with commercial
losses.
Public-domain text, read in full here on John Shaqi.
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