Observations on Reversionary Payments: On Schemes for Providing Annuities for Widows, and for Persons in Old Age; on the Method of Calculating the Values of Assurances on Lives; and on the National Debt. Also, ... a Postscript on the Population of the Kingdom. The Whole New Arranged, and Enlarged by the Addition of Algebraical and Other Notes, ...

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T. Cadell & W. Davies, 1812
 

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Page 146 - ... leading the unwary to endeavour to be foremost in their applications, lest the advantage of getting in on the easiest terms should be lost. It is well known that these arts have succeeded wonderfully ; and that, in consequence of them, these societies now...
Page 185 - They are all founded on a Table of the probabilities of the duration of human life at Northampton, which will be inserted among the other Tables in the second volume of this Work. This Table made a part of all the former editions of this work; but it is, in the present edition much improved, and gives, I believe, more correctly than any other, the mean probabilities of the duration of human life; and, therefore, as I shall observe again hereafter, seems to be more proper than any other for general...
Page 278 - It is an observation that deserves particular attention here, that on this plan, it will be of c . .. of less importance to a state what interest it is obliged to give for money : For the higher the interest, the sooner will such a fund pay off the principal. Thus; a...
Page 160 - It might, however, certainly have been much more useful, had it gone from tho first on a different plan. It is obvious that regulating the dividends among the nominees by the number of members who die every year is not equitable ; because it makes the benefit which a member is to receive to depend not on the value of his contribution, but on a contingency ; that is, the number of members that shall happen to die the same year with him. This regulation must also have been disadvantageous to th
Page 90 - I have had any information respecting them, they are founded on plans equally inadequate, having been formed just as fancy has dictated, without any knowledge of the principles on which the values of reversionary annuities ought to be calculated. The motives which influence the contrivers of these institutions may be laudable ; but they ought, I think, to have informed themselves better.
Page xvii - A continued increase, and a great proportion of youpg young members, may support them for a longer time than I can foresee. But the longer they are supported by such means, the more mischief they must occasion. — So, a tradesman, who sells cheaper than he buys, may be kept up many years by increasing business and credit ; but he will be all the while accumulating distress ; and the longer he goes on, the more extensive ruin he will produce at last. In the latter end of the first Chapter, I have...
Page 274 - No resources can be sufficient to support a kingdom long in such a course. 'Tis obvious, that the consequence of accumulating debts so rapidly ; and of mortgaging posterity, and funding for eternity, in order to pay the interest of them ; must in the end prove destructive. Rather than go on in this way, it is absolutely necessary, that no money should be borrowed, except on annuities, which are to termi* Reversionary Payments, 1783, 1.
Page 130 - ... years; and, if at all tolerable, they may support themselves for 4O or 50 years ; and at last end in distress and ruin. No experiments, therefore, of this sort should be tried hastily. An unsuccessful experiment must be productive of very pernicious effects. All inadequate schemes lay the foundation of present relief on future calamity, and afford assistance to a few by disappointing and oppressing multitudes.
Page xxxiii - I have been enabled to state minutely the different rates of mortality at all ages among males and females ; and to form tables of the values of single and joint lives for each sex, as well as for both sexes collectively ; in consequence of which, I have been farther enabled to determine the increase of the values of annuities payable during survivorship, occasioned by the longer duration of lives among females -, and thus to furnish a direction of some importance to the various societies in this...
Page 399 - To determine the value of a given sum payable on the decease of A or B, should either of them be the second or third that shall fail of the three A, B, and C.

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