1824.] 
months, unless under particular cir- 
cumstances; as, for instance, from its 
being trust-money. He is therefore 
placed at the mercy and caprice of the 
lender. ‘The money he was of course 
in want of, or he would not have bor- 
rowed it, and it may be difficult in so 
short a time as six months to repay it. 
It may have been expended in the im- 
provement of his estate, or in sucha 
speculation that it may be a very, unfa- 
vourable time to sell his property. 
When he applies for a fresh loan, he is 
subjected to unusual difficulty and 
Suspicion, even from the circumstance 
of his estate being already mortgaged 
for the very sum he is called upon to 
pay off. Hence it may be impossible 
to obtain the money, and he suffers the 
consequences, which are not unfre- 
quently sale or foreclosure. But in the 
ease of raising money by granting an- 
nuities it.is different ; for so long as 
the grantor continues to pay the an- 
nuity granted, he cannot be. called 
upon.to pay off the purchase-money, 
although be may do so when he finds 
it conyenient, upon giving a short no- 
tice, or paying, a small fine. 
» Proprietors ofleasehold property are 
for Jike ,reasons induced to prefer 
raising moncy by annuity to mortgage ; 
and it also frequently occurs, that they 
are unable to obtain money by mort- 
gage at all, although the duration of 
their interest in, the property may be 
amply sufficient for,.securing the pay- 
ment of the annuities they are willing 
to giant. Rb 
Proprietors of shares in roads, ca- 
nals, bridges, and otber public works 
of this nature, when they may deem it 
an unfavourable time to sell, are able 
to give good security for an advance of 
money by way of annuity, to such an 
extent as the value of their shares will 
cover. 
Parishes are unable to raise money 
by mortgage, because they cannot give 
a power of sale, and can only grant.a 
security on the rates from time to time 
as they come in. It is also deemed 
inequitable to lay the whole burden of 
defraying the expense of a church, or 
other public object, the benefit of 
which is to extend over a long period, 
upon the present inhabitants. They 
therefore raise money hy annuity ; and 
almost, every local act of parliament 
directs, or recognizes, this mode of 
ee sede money by parishes. 
the proprietors of wninewmbered, 
but entailed, estates, cannot raise mo- 
hey by mortgage, as they have only a 
On the Ascension, according to Saint Paul. 
111 
life-interest in the property. It is fre- 
quently impossible to cut off the entail, 
and sometimes a proprietor does not 
desire to do so; hence, when money is 
raised, it must be by way of annuity ; 
and such an annuity is granted as will 
remunerate for the use of the money, 
and pay, the premium for the insurance 
of the life, ’ 
All persons. deriving an, income for 
life, or for lives, secured, on land, by 
marriage settlement, attachable. pen- 
sions from government, money in the 
funds, or other good securities depend- 
ing on life, must, from the nature of 
such securities, when ihey raise money, 
do it by way of annuity. As in such 
cases insurance is required, the parties 
raising the money, must, grant.an an- 
nuity, to such anamount.as will insure 
the money advanced, and yield a re- 
muneration for its use. 
In Scotland, from one-third to one- 
half the landed property is entailed ; 
and the entail cannot, by any means, 
be set aside. Hence moncy cannot be 
raised on such property, except in the 
form of a life-annuity. In Ireland, 
much property is also entailed. 
From these circumstances it.arises, 
that immense sums are annually raised 
by way of annuity. Accordingly, for 
many years, there have been annually. 
effected and enrolled in London, on an 
average, 1500 annuitics, besides those 
secured on freehold property and copy- 
hold estates of larger annual value 
than the annuities granted, and exclu- 
sive of annuities granted on Jand, and 
other property, in Scotland and Ire- 
land. ‘The sum so invesied in the pur- 
chase of annuities within the last three 
years, and enrolled in London, has 
been from three millions anda half to 
four millions sterling. att 
Such transactions have becn con- 
trolled by our Acts of the legislature, 
the substance of which is summed up 
in 53 Geo, ITI, c. 141, which has been 
further explained by 3 Geo. LY. c. 92. 
Several annuity-companies have. also 
obtained separate Acts, Mercator, 
— ‘ 
Lo the Editor of the Monthly Magazine. 
SIR, ret 
OUR correspondent Academicus. 
(vol, 58, p- 37,) justly observes, 
that the resurrection, ascribed to Jesus 
Christ. by the evangelists, diflers in 
kind from the resurrection ascribed by. 
Saint Paul to the bodies of deceased 
persons; that Christ rose in the flesh, 
with the wounds in his hands and side 
unhealed; aud that the dead are to 
TiS, 
