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THE POPULAR SCIENCE MONTHLY 



large a respectable amount of acquired in- 

 formation about it. Such, however, is not 

 the case. The savings of the frugal have 

 been embarked to the extent of $2,000,- 

 000,000 in schemes which claim to be de- 

 signed for their mutual protection, not upon 

 informed and deliberate judgment, but in 

 great part as the simple result of yielding 

 to the blandishments of the canvasser, com- 

 bined with a sublime faith in the efficacy of 

 statistical tables and mathematical formulae 

 which were not understood. Recognizing 

 the extent of this ignorance, and the dis- 

 comfort and distrust to which it is likely to 

 give rise, the author has tried to make the 

 road to knowledge in this direction easier. 

 He has put into reasonable limits, and into 

 logical and accessible shape, the more es- 

 sential information pertaining to the theory 

 of life-insurance, which heretofore was only 

 to be gleaned from rare and expensive 

 books, which were quite out of the reach 

 of the non-professional reader. That this 

 was no easy task is a fact which should be 

 taken into account when measuring the de- 

 gree of his success. 



The book is divided into two parts. 

 Part I. is theoretical. The tables of mor- 

 tality are given, and we are shown how 

 from these are obtained the expectation 

 of life, and assuming a given rate of in- 

 terest the net premium and the reserve 

 or, as the author prefers to call it, the 

 trust-fund deposit. The theory of annu- 

 ities is discussed in a series of problems ; 

 and the mechanism of the commutation- 

 tables those working-tools of the actuary 

 is explained. 



Part II. is devoted to the discussion of 

 such practical considerations as : the gen- 

 eral management of companies ; stock and 

 mutual rates ; the various plans of insur- 

 ance ; gross and net valuations, which in- 

 volve the relation of the companies to the 

 State ; surrender values ; annual statements, 

 etc. The views under these heads are 

 sound and well put, and, if they were widely 

 circulated and read, would contribute to 

 the welfare of both managers and the in- 

 sured, and help to put their relations upon a 

 surer footing. Algebraical discussions and 

 formulae and tables are relegated to an ap- 

 pendix, where they can be mastered or 

 omitted, as the reader may choose. 



We warmly second the author's hope 

 that this little volume will be widely dis- 

 tributed and carefully studied, but must 

 confess we are not very sanguine about the 

 latter. It is true, as he says, that it con- 

 tains no science that is very abstruse ; there 

 is nothing which a man with a little arith- 

 metic and less algebra may not master, but 

 it does imply that he should put himself to 

 the strain of a little application and study, 

 and this is just what the majority of men 

 are unwilling to undertake. To average an 

 interest account is a very simple matter, 

 but most men who have never learned or 

 have forgotten how to do it will, when one 

 is rendered to them, take the chances on 

 its correctness rather than take the trouble 

 to verify it, and insure themselves against 

 loss. 



The issue of this third edition is timely. 

 The management of insurance companies is 

 a matter over which the public mind is just 

 now very properly exercised. We know of 

 no other attempt to give the information 

 required for its intelligent consideration, 

 and, so far as Mr. Smith's book succeeds 

 in throwing light upon the subject, it will 

 be doing a good work. 



The Functions of the Brain. By David 

 Ferrier, M. D., F. R. S. With" numer- 

 ous Illustrations. New York : G. P. 

 Putnam's Sons. Pp. 323. Price, $3.50. 



This work embodies the last consider- 

 able effort, made by experimental physi- 

 ology, to unravel and explain the mode of 

 action of that most complex and obscure 

 of all mechanisms the brain of animals 

 and of man. The author wisely says : 

 " We are still only on the threshold of the 

 inquiry, and it may be questioned whether 

 the time has even yet arrived for an at- 

 tempt to explain the mechanism of the 

 brain and its functions." Much, however, 

 has undoubtedly been accomplished toward 

 the attainment of this end, though the steps 

 forward are slow, uncertain, and difficult. 

 What can be positively gained by any spe- 

 cial research seems so small in comparison 

 with the complete problem to be solved as 

 to be hardly worth the immense labor in- 

 volved ; yet there is a fascination in the in- 

 quiry, and a grandeur in the result aimed 

 at which awakens the enthusiasm of inves- 



