The following fraud, which was perpetrated in 1780, was perhaps the first instance of a deception which has since been often repeated. An application was made to the London to insure the life of a lady for 2000_l._ The references were satisfactory. The lady’s health was sound, her habits were good, her constitution was excellent. The usual certificates were handed in and the assurance was concluded. Within six months a claim was made for the money. The ordinary forms were lodged and found to be regular, the disease was certified to be that of the lungs, which of all others should have been discovered in the earliest stages. The directors looked grave and questioned the secretary, and the secretary questioned the doctor. There was no accounting for it; it all seemed regular; no fraud could be alleged, and the policy was discharged. Scarcely had it been paid when certain information was given. Inquiries were again instituted, and it was discovered that one sister being ill and utterly given over, the other brought a certificate of the invalid’s birth, personated her at the assurance office, deceived the medical man, sent in the certificate of her sister’s death, and obtained the money. No sooner did the office commence its inquiries than the lady was missing, and the company compelled to abide by its first loss. An annuity and assurance office, stimulated by the success of the Equitable, was commenced under the title of “the Universal,” but history is silent as to its results. Many other attempts were made, some of a purely local character, which were very successful; others, more ambitious, failed in their endeavours. In 1792 the present Westminster Society commenced business, and in 1797 was followed by the Pelican, now in active existence. Some time prior to these, there was an advertisement of a new assurance office on the lives of men, women and children at the Bell and Dragon, otherwise called “Lincoln’s Inn Eating-house in Portugal Street, Lincoln’s Inn, Back Gate.” It need not be added that it was not by means of the “back gate to the Bell and Dragon” that the Westminster and the Pelican obtained their deserved success. FOOTNOTE: [15] “Never grant life annuities to old women,” Gideon would say; “they wither, but they never die;” and if the proposed annuitant coughed on approaching the room door, Gideon would call out, “Ay, ay, you may cough, but it shan’t save you six months’ purchase.”--“Chronicles and Characters of the Stock Exchange. By John Francis.” 2nd. Edition. CHAP. XI. LEGAL DECISIONS.--WILLIAM PITT, AND GODSALL AND CO.--ROMANCE OF LIFE ASSURANCE.--THE GLOBE.--NEW COMPANIES.--THE ALLIANCE--ITS PROMOTERS.--IMPROVEMENT OF THE VALUE OF LIFE CONSEQUENT ON THE IMPROVEMENT IN SOCIETY--ITS DESCRIPTION.--TRIAL CONCERNING THE DUKE OF SAXE GOTHA.--IMPORTANT LEGAL DECISION.