There was room, in 1825, for an augmentation of companies. The population of London in 1821 was 1,225,694; of these very few had assured their lives; and if a city like London were behind in this matter, it may be supposed that the inhabitants of the rural districts were difficult to impress with its importance. Up to 1825, assurance could not be said to have made much advance--certainly not in proportion to the general advance of commerce. There had, indeed, been much to alarm the public as to the safety of life institutions. From 1806 to 1826 more companies had been broken up than had been successful. In the first-named year only 9 were in existence; since which, out of 30 which were commenced, 20 were compelled to abandon their business.[17] Some went down in total insolvency; others lost a large portion of their capital; another set of directors paid the Provident Life 21,000_l._ to take their risks off their hands. Very extravagant promises had been made by these companies. One gentleman announced of the Union Life, “that every feature of its plan was marked by superior liberality and with a decided contempt of all the petty advantages which swell the profits of other offices.” A second society, the Provincial Union, offered to take lives at 10 per cent. under others; while another, with a spirit of “extra superior liberality,” would do it at 20 per cent. less. Of course such as these were never meant to last; but it was said, “they are persevered in until everything is consumed, while the chief actors laugh in their sleeve and enjoy their profits as long as the bubble lasts, and impunity when it bursts.”