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
His money bred. He formed temporary partnerships with the stewards of
country gentlemen, and, having by the aid of the former gulled the
latter, finished by cheating the associates who had assisted him to his
prey. The annuity-monger was also a philosopher. He never pressed for
his debts when he knew they were safe. When one of his victims asked
where his conscience was, he replied, “We monied people must balance
accounts. If you don’t pay me my annuity, you cheat me; if you do, I
cheat you.” He said his deeds were his children, which nourished best
by sleeping.
His word was his bond; his hour was punctual; his opinions were
compressed and sound. In his time he was called the great Audley; and
though the Fathers of the Church proclaimed the sin of usury to be the
original sin, Audley smiled at their assertions and went on his way
rejoicing. As his wealth increased he purchased an office in the Court
of Wards; and the entire fortunes of the wards of Chancery being under
his control and that of the other officers of the court, it may be
supposed that Audley’s annuity-jobbing increased. When he quarrelled
with one who disputed the payment of an annuity, and who, to prove his
resisting power, showed and shook his money-bags, Audley sarcastically
asked “whether they had any bottom?” The exulting possessor answered in
the affirmative. “In that case,” replied Audley, “I care not; for in
my office I have a constant spring.” Here he pounced on incumbrances
which lay on estates; he prowled about to discover the cravings of
their owners, which he did to such purpose that, when asked what was
the value of his office, he replied, “Some thousands of pounds to any
one who wishes to get to heaven immediately; twice as much to him who
does not mind being in purgatory; and nobody knows what to him who will
adventure to go to hell.” Charity forbids us to guess to which of these
places Audley went. He did not long survive the extinction of the Court
of Wards, and died “receiving the curses of the living for his rapine,
while the stranger who had grasped the million he had raked together
owed him no gratitude at his death.”
Public-domain text, read in full here on John Shaqi.
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