It is one advantage of all new life companies that they assist in forwarding a principle; and there is another feature in them. In most other speculative societies, their failure produces very painful results. A railway sees its capital spent, and is obliged to make farther calls upon its proprietors. An unsuccessful canal company has only the certainty of having fed and demoralised some thousands of stalwart navigators in exchange for the ruin of its shareholders, while the failure of a mine is the melancholy close of many a bright hope. But it is not so bad with a life assurance company. The insured--except in offices originated with a fraudulent design, such as the West Middlesex--has never yet been deceived by the failure of a policy. To take Scotland as an instance, many of the companies have not been able to maintain their ground; but in no one case has the policy-holder risked his premium or lost his assurance. Thus the Scottish Life, when unable to maintain itself, handed its business to the Mercantile, which then became responsible. When the Mercantile ceased to be an independent company, it transferred its policies to the “Life Association.” The “Scottish Masonic” and the “Bon Accord” business was taken up by the Northern. In no instance, therefore, has any legitimate company failed in its engagements. The public has never been scandalised with tales and traditions of wrong and ruin. Nor has the improvident man been strengthened in his improvidence, by being able to plead losses which others have sustained. The progress of the science in Scotland has been calm and equable. Throughout all her districts, its agents are spreading a knowledge of its benefits. There are enough and to spare of companies; and while giving the following list, it may be remarked, that all the offices which are noticed below as having transferred their business, were fairly and soundly originated. It is highly creditable to Scotland, that directly they found they were not successful, their business was at once handed over to other companies:-- Scottish Widows’ Fund (mutual). This was the first life office in Scotland 1815 North British (mixed). Commenced fire in 1809 ” ” ” life in 1823 Edinburgh (mixed). Nine-tenths of the profits allotted to the policies 1823 Scottish Union (mixed), divides two-thirds of the nett profits every five years 1824 Standard Life (mixed). Commenced under the title of the Life Insurance Company of Scotland, and took its present name in 1832 1825 Scottish Provincial (mixed). Commenced under the title of the Aberdeen Fire and Life Insurance Office, and took its present name in 1852. In 1840, policies with a right to share in the profits were first issued 1825 Scottish Amicable (mutual) 1826 Scottish Equitable (mutual) 1831