222 



A. D. 1601. 



remote parts), to give feme confideration of money to other perfons 

 (which commonly are in no fmall number), to have from them afliir- 

 ance made of their goods, merchandizes, fhips, and things adven- 

 tured, or fome part thereof, at fuch rates and in fi>ch fort as the par- 

 ties affurers and the parties aflured can agree ; which courfe of deal- 

 ing is commonly termed a policy of affurance ; by means of which it 

 cometh to pafs, upon the lofs or perifhing of any fhip, there foUow- 

 eth not the undoing of any man, but the lofs lighteth rather eafily up- 

 on many than heavily upon few, and rather upon them that adven- 

 ture not, than upon thofe that adventure, whereby all merchants, fpe- 

 cially of the younger fort, are allured to venture more willingly and 

 more freely. And whereas heretofore fuch aflurers have ufed to Hand 

 fo juflly and precifely upon their credits, as few or no contro- 

 verfies have rifen thereupon ; and if any have grown, the fame have 

 from time to time been ended and ordered by certain grave and dif- 

 creet merchants appointed by the lord mayor of London,, until of 

 late years that divers perfons have withdrawn themfelves from that 

 arbitrary courfe, and have fought to draw the parties alTured to feelc 

 their moneys of every feveral aflurer, by fuits commenced in her ma- 

 jefty's courts, to their great charges and delays.' For remedy here- 

 of it was now enacted, ' that the lord chancellor (or keeper) do award 

 one general or {landing yearly commiffion, for the determining of 

 caufes on policies of allurances, fuch as now are or hereafter fhall be 

 entered within the office of alTurances within the city of London : 

 this commiffion to confift of the judge of the admiralty, the recorder 

 ofLondo'^,, tvv^o dodors of the civil law, two common lawyers, and 

 eight diicreet merchants, or any five of them ; which commiffion 

 ffiall have authority to determine all caufes concerning policies of af- 

 furance in a fummary way, fhall fummon the parties, examine wit- 

 nelles upon oath, and imprifon difobeyers of their decrees : they 

 fliall meet weekly at the office of infu ranee, on the weft fide of the 

 Royal exchange, for the execution of their commiffion, without fee 

 or reward ; and any who may think himfelf aggrieved by their de- 

 lerniin;).tions, may in two months exhibit his bill in chancery for a 

 re-examination of fuch decree, provided the complainant do firfl lay 

 down to the faid commiffioners the fum awarded ; and that the lord 

 chancellor or ke( p.^r may either reverfe or affirm the firft decree, ac- 

 cording to equity imd confcience ; and if he decrees againfl the af- 

 furers, double cofts fhall be awarded to the affiired. Lall:ly, no com- 

 miffioner fliall be either affiu'er or aflured.' 

 Affurance, or infurance, of fliips and merchandize on the feas feems 

 to have been in uie in England, upon the revival of commerce, fome- 

 what earlier than on the continent ; and Antwerp, v/hen in its meridian 

 glory, learned it from England : ' And whereas (fays Malynes's Lex 



