The whole practice of insurance, sir, is, in its present state, I believe, so perplexed with frauds, and of such manifest tendency to the obstruction of commerce, that it absolutely requires some legal regulations. Sir John BARNARD then spoke to this purpose:--Of frauds in the practice of insurance, with regard to which the honourable gentleman has appealed to me, I can confidently affirm that I am totally ignorant: I know not of any fraudulent practices openly carried on, or established by custom, which I suppose are meant: for with regard to single acts of fraud, committed by particular men, it is not to be supposed but that they have been detected in this, as in all other branches of traffick: nor can I conceive that any argument can be drawn from them against the practice; for if every part of commerce is to be prohibited, which has furnished villains with opportunities of deceit, we shall contract trade into a narrow compass. With regard, sir, to the instance of the Royal George, though the proceedings of the officers are not wholly to be vindicated, yet part of their conduct is less inexplicable than it has been represented. Their return to Antigua, when they were bound for Britain, and were within a week's sailing of their port, is easily to be defended, if the wind was contrary to their intended course; for it is not difficult to conceive that they might reach a distant port, with a favourable wind, much sooner than one much nearer, with the wind against them. I have always observed, sir, that the gentlemen engaged in the trade to the East Indies, assume an air of superiority, to which I know not what claim they can produce, and seem to imagine, that their charter gives them more extensive knowledge, and more acute sagacity, than falls to the lot of men not combined in their association. But however these gentlemen may disapprove my arguments, and however they may misrepresent them, I shall be satisfied, that they will have, with the disinterested and impartial, their just weight, and that this affair will not be hastily determined upon an imperfect examination. Sir Robert WALPOLE replied to this effect:--Whether the merchants are satisfied with the present methods of insuring, or what is the opinion of any separate body of men, I think it absolutely unnecessary to inquire. We are constituted for the publick advantage, and are engaged by our senatorial character to consider, not the private interest of particular men, but the general advantage of our country.