Expensive Systems of Life Assurance. 127 



It has been considered unnecessary to enter at present into 

 any detail regarding the late investigations into the law of mor- 

 tality in this country, or the rate of interest most likely to be 

 obtained for money. These subjects were formerly fully con- 

 sidered in the Numbers of this Journal for January and April 

 1828, and the views therein given have been since completely 

 confirmed, both by two legislative enactments regarding Friendly 

 Societies and the Government Annuitants, and by the institu- 

 tion of several Friendly Societies, under high patronage, upon 

 the principles recommended in the series of papers of which the 

 above two Numbers formed a part. To these papers, and to 

 the rules of these Societies *, we would therefore refer for such 

 an elementary or practical knowledge of the science of Health 

 and Life Assurance, as will enable anyone tojudo-e how far 

 the foregoing brief remarks and tables may be relied on, and 

 how far the public should continue to credit the contradictory 

 and fallacious statements in excuse for high premiums, contained 

 in the innumerable advertisements and reports of the present 

 Life Assurance Companies. 



[We understand that a number of individuals, to whom this article 

 has been shewn in proof sheet, have already resolved to form 

 themselves immediately into an association for Mutual Life 

 Assurance. The tables of premiums here given are to be adopt- 

 ed, and the Society is to be conducted upon the most econo- 

 mical and popular plan. From the practical knowledge which 

 some of these individuals have already acquired in the forma- 

 tion and management of several properly constituted Friendly 

 Societies, we are inclined to augur very favourably of the suc- 

 cess of the Scottish Economic Life Assurance Society ; and, 

 the better to secure the confidence of the public, we would 

 strongly recommend that every facility should be given to the 

 members in general, for understanding the pecuniary and other 

 details of management. Much dissatisfaction and misconcep- 

 tion have long existed, owing to the closeness with which Life 

 Assurance matters have been hitherto managed ; but this is 

 now obviated in regard to Friendly Societies, by the statute 

 making it imperative upon them to publish periodical state- 

 ments of their pecuniary transactions, and we certainly do think 

 that similar publicity would be equally beneficial and satisfac- 

 tory to the higher classes of Life Assurers.] 



• Among other Societies here alluded to, may be mentioned the Edinbur<rh 

 Compositors' Society, and the Edinlxirgh School of Arts Societv,_the Rules 

 and Tables of the former may be safely taken as a guide for Societies of a 11- 

 mited number of members, and those of the latter for Societies on a large scale. 



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