The theory of insurance, with its kindred science of 

 annuities, deserves the attention of the academical 

 bodies. Stripped of its technical terms and its com. 

 mercial associations, it may be presented in a point of 

 view which will give it strong moral claims to notice. 

 Though based upon self-interest, yet it is the most en- 

 lightened and benevolent form which the projects of 

 self-interest ever took. It is, in fact, in a limited sense, 

 and a practicable method, the agreement of a community 

 to consider the goods of its individual members as com- 

 mon. It is an agreement that those whose fortune it 

 shall be to have more than average success, shall resign 

 the overplus in favour of those who have less. And 

 though, as yet, it has only been applied to the repara- 

 tion of the evils arising from storm, fire, premature 

 death, disease, and old age ; yet there is no placing a 

 limit to the extensions which its application might re- 

 ceive, if the public were fully aware of its principles, and 

 of the safety with which they may be put in practice. 



It is of great importance at the present moment that 

 sound principles on the subject of insurance should be 

 widely and rapidly disseminated. Within the last twenty 

 years, many new institutions have been founded; and 

 during the busy portion of the London year, seldom a 

 month passes without the announcement of a novel plan. 

 Of many of these projects I am unable to speak, from 

 not having paid particular attention to them. But of 

 one thing I am certain, that the magnificent style in 

 which the prospectuses frequently indulge might often 

 remind their readers of the unparalleled benefits which 

 are promised by another description of traders, who 

 vie with each other in describing the rare qualities 

 of their several blackings. If there be in this country 



