There was a speculating mania arising, which boded ill for the future. In this reign was born the 'South Sea Bubble,' which burst so disastrously in the next, and involved thousands in ruin. Perhaps the mildest form it took was in insurances. We have already glanced at the fire insurances in Queen Anne's time; they now began to think of life insurance, and the first advertisement on this subject that I have noticed is in 1709. 'The Office of Assurance of Money upon Lives is at the Rainbow Coffee House in Cornhill, where Men or Women may Subscribe on their own Lives for the benefit of their Children, or other Person's Lives for the benefit of themselves, and have them approv'd without their Knowledge, paying 10_s._ Entrance, and 10_s._ towards the first Claim for each Life, and shall have a Policy for £1,000 for each Life subscribed upon in the said Society. This Office may be proper for such Persons as have Annuities, Estates, or Places for Life; and for such Persons to make Assurance upon Lives where Debts are dubious if the Person die. This Office will assure Money much Cheaper per cent. than private Persons.' This looks very much as if it were the first life insurance company that was started, in lieu of private enterprise; and as this is the only company that is advertised in Queen Anne's reign, it was probably the sole forerunner of the numerous similar enterprises now in existence. Hatton says, 'Offices that _Insure Ships_ or their Cargo are many about the _Royal Exchange_, as Mr. Hall's, Mr. Bevis's, etc., who for a _Premium_ paid down procure those that will subscribe Policies for Insuring Ships (with their Cargo) bound to or from any part of the World, the _Premium_ being proportioned to the Distance, Danger of Seas, Enemies, etc. But in these Offices 'tis Customary upon paying the Money on a Loss to discount 16 per cent.'