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XXIII. Neiv analytic Formula and Table of nn increasing Life 

 Annuity; with Remarks 07i the Surrender of Life Assurance 

 Policies at Proprietary Offices. By Mr. J. B. BKNWELi., 

 Hoxton. 



To Mr. Tilloch. 



Sir, — A HE accompanjing table, computed from real observa- 

 tions and the probabilities of life, is applicable to a description 

 and species of life annuity transaction, by no means common, and 

 scarcely, under any form whatever, practised in this country; and 

 any thing new or novel of this kind I am inclined to imagine 

 will be interesting to, and invite the attention of societies en- 

 gaged and concerned in this particular and important branch of 

 human oeconomy. On a former occasion I recommended the sub- 

 ject to their notice; and I do it now with the same persuasion of 

 its being, by an easy extension of application, as suitably adapted 

 to the views and purposes of individuals, as any other mode of 

 assurance, and of its becoming at some future period in more 

 general recurrence. I do not expect any credit for the suggestion 

 proposed, because we know that, in the commerce of life, ac- 

 cording as interest and gain may impart a colouring to the me- 

 dium an object is seen through, it is either aI)andoned, or pur- 

 sued vviih avidity. Now it happens in the instance under review, 

 that the influence of this ordinary spirit and idol of general ado- 

 ration is to be perceived: for the Offices (I speak in reference to 

 the companies constituted solely on the trading system) in rather 

 indirect terms and manner convey the inference gathered, that it 

 15, as we may suppose, not a profitable speculation to them, or, 

 more figuratively, the sweets of the hive are not exactly found in 

 this track; and since the legislature has anticipated their pri- 

 vileged means in this respect, what comparatively they can do, 

 but poorly compensates for the incidents attendant; for it is to 

 be remarked, that it is not among a few independent but general 

 mass of lives combined, that the calculations of contingencies are 

 founded and applied ; and as an apparent consequence, the latter 

 condition may be expected to partake in a higher degree favour- 

 al)le in the determination of the hajjpening and failing of events 

 generally, as well as in reference to the claims that may in pro- 

 bability of expectation successively terminate. 



These reflections naturally lead me then to inquire into the 

 motive, v/hy most of the chartered companies display and hold 

 forth their legislative powers enrolled and enabling them to spe- 

 culate in the grant and purchase of annuities, on just and equi- 

 table principles, when at the same time thcv evince a coldness. 



Vol. r,7. No. 275. March 1821. X neglect 



