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, ...T. Cadell & W. Davies, 1812 |
Other editions - View all
Common terms and phrases
according amount annual payments Annuities lapsed annuity payable yearly annum assurance babilities calculations complement compound interest computed consequence continue correct value decrements deduced denote difference divided Doctrine of Chances edition entitled equal established find the value five guineas former four per cents give given sum given term half Halley's Table joint lives less life-annuities Logarithms London London Observations marriages married mean age ment millions Moivre Moivre's hypothesis multiplied Northampton Table Note nuity number of annuitants number of persons number of widows oldest payable half-yearly perpetuity present value probability public debts Question rate of interest reckoning interest redeemed remainder reversionary rixdollars rule scheme Scholium Simpson's Simpson's rule single lives single payment sinking fund Society SOLUTION subtracted supposing surplus survivorship Table of Observations taxes theorem three lives three per cents tion Treatise values of single volume whole
Popular passages
Page 145 - But this is too gentle a censure. There is reason to believe that worse principles have contributed to their rise and support. The present members, consisting chiefly of persons in the more advanced ages, who have been admitted on the easiest terms, believe that the schemes they are supporting will last their time, and that they will be gainers ; and as to the injury that may be done to their successors, or to young members, it is at a distance, and they care little about it.
Page 296 - But, notwithstanding this, it has been generally alienated ; and the produce of it employed, in helping to defray such current expences as the exigences of the state rendered necessary. In order to justify this, it has been usual to plead, that when money is wanted, it makes no difference, whether it is taken from hence, or procured by making a new loan. But in truth the difference between these two methods of procuring money is no less than infinite.
Page 153 - ... of the churchwardens and overseers of the poor for the time being, by the direction of the vestry or select vestry, for the benefit of the parish, in the manner herein-after provided.
Page 299 - All these taxes were appropriated to the discharge of the interest of ^£7,808,087, (originally ^10,000,000,) capital stock of SouthSea annuities, together with charges of management. All that remained of the produce of the taxes thus digested into these three funds, after satisfying the charges upon them, was in the same year (or 1716) carried into a fourth fund, to which was given the name of the Sinking Fund, because appropriated to the purpose of sinking the public debts.
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 179 - Jn short ; dangerous mistakes may sometimes be committed, if the affairs of such a Society are •not managed frugally, carefully, and prudently. 'One instance of this I cannot avoid -mentioning. A person, who desires to assure a particular sum to be paid at the failure of ;his life, on condition of <the survivorship of another...
Page 222 - The quotient subtracted from the perpetuity will be the value required. EXAMPLE. The expectation of a life aged ten, by the Northampton observations (See Table XVIII.) is 39.78.
Page 295 - But to proceed to some further observations. What has been said, has all along supposed a sacred and inviolable application of the fund I have described, and of all its earnings, to the purpose of sinking the national debt. The whole effect of it depends on its being allowed to operate, WITHOUT INTERRUPTION, a proper time.
Page xvii - INTEREST OF MONEY. — Dr. Price, in the second edition of his " Observations on Reversionary Payments," says : — " It is well known to what prodigious sums money improved for some time at compound interest will increase. A penny so improved from our Saviour's birth, as to double itself every fourteen years — or, what is nearly the same, put out at five per cent. compound interest at our Saviour's birth — would by this time...
Page 1 - ... mating interest at 4 per cent?" ANSWER. It is evident, that -the value of such an expectation is different, according to the different ages of the purchasers, and the proportion of the age of the wife to that of the husband. Let us then suppose, that every person in such a...