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
Salvador--the name he was usually known by--nearly paid the penalty of
his life; for the incensed Jew threw himself on the young profligate
and almost killed him. The idiosyncrasy of this man made him mad when
he lost his money, and as mad to regain it. Yet he evinced touches of
benevolence which redeemed his character, and traits of kindness which
made him much loved and respected by all his tribe. To Christians he
was as mischievous as a monkey, taking a delight in giving a crown
piece to a beggar, and then following him to demand it back, under
pretence that he had given it instead of a penny, with which, however,
he always failed to redeem it.
It need not be added that he was loud in his reprobation of the act
against gambling in annuities, as it promised to strike a deep blow at
his profits. The bill met with much opposition, especially in the upper
house, but while the Earl of Abingdon deemed it his duty to denounce
its unconstitutional tendency, and to declare, “it was not calculated
for the genius of a free nation,” the Earl of Mansfield, a higher
authority, said, his experience had long since taught him that some
bill was wanting to put a stop to the usurious contracts and fraudulent
transactions which had been practised for many years, and which were
now carried to an height of enormity.
At this period, various brokers and merchants devoted their capital
entirely to annuities, and many most honourable men experienced a
pleasure in aiding the endeavours of the poor, scorning at the same
time to take a mean advantage of the spendthrift; but there were others
who would have jobbed in the lives of their fathers, and sold their own
souls to perdition in their love of mammon.
There were also the annuity companies which were unsafe, because they
were unsound in principles, and of which Dr. Price said that they cared
little about it; and that in addition to these there were likewise
fraudulent companies established by fraudulent men; let the following
sketch bear witness.
Public-domain text, read in full here on John Shaqi.
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