"Oh! by all means, my dear, wait for your mother," replied the young Benedict. "Well," observed the lady, "I don't know that I shall though: she, who is generally so punctual; really I'm much surprised-but hark!” The sound of a coach drawing up to the door was just then heard; followed by the usual thundering rap, letting down of steps, &c., and the parlour door being thrown open, a voice distinctly announced -MRS. HAWK! "Oh! my dear mamma!" exclaimed the young bride, running to meet her; while my uncle, in a state of perfect bewilderment, turned again to look at his quondam love-lorn, despairing nephew, who was just then standing in a most determined attitude of contemplation before a picture suspended over the fire-place, and who, I am ashamed to add, was so rude as to commence a loud whistling! To do her justice, his lady regarded him with some surprise. However, one or two guests dropping in, and dinner being announced, my uncle, notwithstanding the, to him, rather puzzling state of affairs, immediately offered his arm to the bride, Charles following silently with her mother; and, in a few minutes, behold a snug little party gathered around the social board of Mr. and Mrs. Charles Wheeler. The dinner passed off exceedingly well under the circumstances, though Charles had scarcely yet met the eye of his now rather shy-looking relative during the repast. The cloth having been removed, " My dear mother," said the young hostess, "what could possibly detain you so? You are generally so punctual in your engagements?" "Oh! my dear," replied the lady addressed, "I assure you it was the most provoking thing in the world. I was just ready, when who should drop in but that tiresome Mr. Proser: you know his ways; and there had he brought with him a great packet of old letters to read to me!" "Oh! burn all old letters!" muttered Charles, from the bottom of the table. "It's what I always do, Charles," replied my uncle, looking at him with droll expression. "No? do you though, uncle?" asked Charles, with alacrity. "Upon some subjects be sure on't, my boy-and so shall aunt Sukey," replied my uncle, with a merry twinkle of his of your fair bride. So here's Miss Hawhem! Mrs. Charles Wheeler." The toast being unanimously followed by the other guests, my uncle, as he replaced his glass upon the table, added, with mock solemnity, "And my next toast shall be-'Destruction to all old letters!' Eh, Charles?" Of course this was meant for him who could best understand it; nevertheless, it was received with a small volley of hilari. ous demonstration round the table, which is often the ease, when people not per ceiving where the joke lies, take the will for the deed: a custom very good-natured, undoubtedly, and very stupid. "La!" simpered Mrs. Charles Wheeler, "how droll you are, Mr. Grigsby." Then, turning to her mother, she added, "I'm sure there's some joke between Charles Wheeler and his uncle about old letters: only look how they are chatting and laughing together. La! mamma, I wonder what it's all about?" "Never mind, my dear," replied the prudent matron, "we'd best leave them alone: perhaps it's some joke between the two gentlemen that we had better not inquire into." The Advantages of Life and other Assurances. To many persons, at a mere superficial glance, this subject scarcely appears to deserve attention, when, in reality, it is one of the greatest importance to the middling, but more especially the poorer classes. This latter fact is seemingly a contradiction. It appears strange that the poor man should even cherish the hope of sharing in a luxury which seems secured to those alone who are enabled to pay out of their earnings a yearly sum. But we shall explain ourselves more at large on this subject as we proceed. Our object in the present article is to show how it becomes not only desirable but the imperative duty of every person at all capable of so doing, to insure his own life. Now it would be deemed a crime in any person, who, with a large family around him, had the opportunity of providing for their future welfare in case of his own sudden death, should fail to take advantage of that opportunity. Not only his own relatives, but the world would be loud in exclamation against his infatuation. It would be said that the love he professed to bear towards his wife and offspring was but a deception; that in reality he cherished no such affection; and that he looked upon them merely in the light of companions who ministered to his comfort in this world, but about whose welfare, should death no longer cause him to require their attentions, he cared very little. Now to a great extent this opportunity of providing for a family is afforded by the life assurance companies. It is true that in all cases a competent provision cannot be secured, but however deeply the death of a beloved relative may affect his family, still, when the first violent burst of grief is past, the question naturally arises, “How is the means of support which has been so suddenly withdrawn from us, to be supplied?" There are perhaps several boys to be provided for, whose future life depends entirely on the way in which they first set out in the world. Imagine a professional man in full and continued practice, with an establishment of servants, a wife, and surrounded by a number of young children. The future is unheeded, no saving is attempted, they revel in every luxury, enjoy every comfort, and because death is a contingency which is never contemplated, and the probability of which the husband and wife are unwilling to own to themselves, they look forward with confidence to the future, and think there is time enough for everything proper to be accomplished for the children. All at once, in an awfully sudden manner, the stay, the support, the corner stone on which this expensive establishment depends, is withdrawn without a moment's warning, or an hour to arrange his affairs or provide for his family. Now the stunning conviction forces itself upon the widow's mind that she is left penniless. The children are at expensive schools, whence they must be withdrawn to return to a home henceforth perhaps one of poverty. This is no exaggerated picture, made up for the occasion. It is a case which is of daily occurrence in this metropolis. Whole families are suddenly precipitated from the height of affluence to the most abject misery, and all because there is no forethought on the part of the father, no provision for a sudden emergency. Now how different would not the position of the widow we have above alluded to have been, had her husband withdrawn from his enormous yearly expenses one little portion, to be placed in the keeping of some life assurance company, which would have guaranteed to his family at his death a sufficient sum to place them in tolerable comfort. Of course it is not always that the husband is withdrawn, nor does he pass away frequently before his children are grown up around him. But this no man knows. The morrow is dark, and what it may bring forth no man can tell. Let us look around at the instances of daily occurrence, in which literary men and artists are actually urged by despera tion to commit the fearful crime of suicide, because, awakened suddenly, in the midst of a career of extravagance, to a conviction of the instability of their position, they perceive the dire prospect which is opening upon their wife and family. The life assurance companies deserve the strongest encouragement, and in most cases they conduct their affairs well. But we might venture to suggest that for the poor a system should be adopted different from that at present pursued. The poor man often departs from this world with not so much in his hands as would pay for his funeral, and the consequence then is that the workhouse becomes in future the home of his wife and children. We know too well how difficult it is for the working classes to set aside even the smallest sum for future contingencies. It is more espe cially hard for them to save up any in their own hands, as a preparation for the yearly payment, which, however small, constitutes a strong temptation to the poor. Were they enabled weekly to place some small portion of their earnings, be it ever so small, in the keeping of the life assu rance companies, they would feel an independence of the world which would go far towards improving their moral condition. In Mr. Pocock's little work,* however, which we have now before us, the advantages and principles are so ably insisted upon, that we strongly advise such of our readers as desire to become acquainted with the subject to seek for information in the pages of this little volume, which will be found infinitely amusing as well as instructive. The subject is already attracting considerable attention, and it is therefore desirable that it should be rendered more familiar to the public. The principles should be expounded in plain, simple language, such as all can understand. Few works have been published upon this subject; those, therefore, that do appear will be more eagerly sought after. And the reason of this is, that at first sight the subject appears so uninviting that few would voluntarily undertake the task of expounding it. The present volume does not profess to add much to the information already diffused upon the subject of life assurance, but it accomplishes a task of much greater importance at the present moment, viz., that of rendering those persons who are unable to seek for information in more expensive volumes, quainted with the fact. The author enters briefly, but plainly, upon all the elementary matters connected with the subject, and is careful to avoid as much as possible the use of technical or scientific phrases, which instead of simplifying the matter, only ac Pocock on "Life on Life Assurance." In 1 vol. London: Smith and Elder. serve at once to render it more mystical, and deter the general reader from attempt ing to understand it. Mr. Pocock at first explains, in an introduction, the advantages and general principles of assurance, and informs us how, by the improvement of the mechanical arts, the strength of individuals is improved, and therefrom deduces an argument to show how, by the simplification of the sciences, a corresponding facility and power in acquiring them has been obtained. He next explains the manner of calculating casualties and probabilities, and seeks to afford the fullest information upon the subject in the plainest terms. The chances of destruction of property by fire, or on the seas, and the duration of life, are dwelt on, they being the actual principles of insurance against fire. Throughout England fires are found to bear a constant relation to the number of houses standing in the part where they occur; and, as a natural consequence, the amount of property destroyed is paid to the insured out of the sums subscribed for the security and indemnity of those who remain unhurt. By ascertaining, therefore, the number of houses in any particular district, and the number of fires known to have occurred there in any given space of time, a certain proportion is found for that period; these results are, of course, not pretended to be accurate, but they approach sufficiently near to accuracy to furnish what is called an average, upon which calculations may be safely founded. The principles upon which the insurance of shipping is conducted is also, that upon an average of years it is found that a certain number of vessels are wrecked in making a particular voyage. The property which a merchant embarks is generally of great value; perhaps, indeed, he often risks his whole, the loss of which might be ruin and bankruptcy. When he sends his ship to sea, and dismisses that on which his whole future prospects depend on a mere chance, without any pro tection in the way of insurance, he is perpetually haunted by the most poignant anxiety; he calculates with earnestness upon the chances before him; he feels that he must stand or fall by the issue of the venture he is making. But when once he has secured it against danger, by resorting to the insurance company, he feels a reliance and confidence, to attain which it is surely desirable to exert some energyto pay some price. In order that it may be perfectly comprehensible to the public that the assurance companies, while they offer these advantages, also derive similar ones from their establishment, it will be desirable that they should resort to Mr. Pocock's work, that they may perfectly understand the principles upon which they are founded, and how, by subscribing a large capital, they are enabled to raise at any time, without difficulty, whatever amount may be required. And that the most perfect confidence should be felt, and the greatest reliance placed upon the life assurance companies, it is quite necessary that the public should be made to perceive that they do derive themselves great advantages. They are not cast upon purely philanthropic principles, nor do they profess to do so. Such philanthropy is not in our days believed in. Men refuse to credit the probability of a handful of men establishing a company calculated to diffuse immense good, solely with the desire of benefiting their fellow countrymen without the remotest chance of also benefiting themselves. Such is not the case. railway is started for two objects: the first, no doubt, is to cause profit to accrue to those who first started the idea, and this is perfectly legitimate, since had not a number of gentlemen and mercantile men advanced with capital at their disposal, the second object, which is to benefit the public, would never have been obtained. In like manner the life assurance companies are established by men of capital, both with the view of extending advantages to the empire at large, and of deriving an interest from the money they invest. Α We have, however, lost sight of Mr. Pocock for a few moments, and hasten to return to him. The historical account of tables of mortality, Dr. Halley's "Preston Tables," "illustration of the probabilities of life," " 'improvement of the tables," &c., occupy a great portion of the first chapter; the author then proceeds to an explanation of the terms used in the science of life assurance, and shows the manner of calculating premiums of assurance from tables of mortality. The remarks upon the profit and loss of life assurances are explicit, and well worthy of attention. Mr. Pocock now proceeds to what we may term the practical part of his work. He begins with the mode of effecting life assurance; so that, after perusing these pages, no one will be at a loss what steps to take. The first act of the party, he tells us, is to fill up a printed form, usually called a declaration, with his name. resi dence, rank and occupation, age, place, time of birth of the party on whose life the assurance is to be effected, and_the_particulars concerning his health. On the deposit money, the appearance before the board, the payment of the first premium, the entrance money, payment of the future premiums, value and forfeiture of policies sale of policies, surrender of policies limits of travelling allowed to the assured and the proof of the death of the assured, full particulars are afforded, so that no doubt as to what the person desirous of being assured is about to undertake can possibly exist, after perusing this one chapter, which is one of the most interesting in the book. Chapter III contains an account of the different systems of life assurance, the assurances by individuals, the different kinds of assurance companies, the proprietary companies, the mutual assurance companies, the mixed assurance companies, the directors and other officers of assurance companies, capital of life assurance companies, the source of profit and surplus, the difference between surplus and capital, the manner of ascertaining the amount of real surplus, the distribution of profits among the assured, &c. &c. There are different systems of assuring life, and this work is intended to assist the public in making a prudent choice; but it is besides recommended to those not previously well acquainted with the subject, to have recourse to the advice of some professional person or friend, upon whose judgment and integrity they can entirely rely, with whom they may consult upon the rates and proposals issued by all the offices, and who may then counsel them in making their selection. The proper way to estimate the comparative benefits of the various systems of life assurance, and the relative merits of the several metropolitan establishments for effecting them, is doubtless to consider the peculiar circumstances and prospects of the party about to become assured, and the end which he more especially has in view by entering into such a contract. There are of course various objects to be attained; the ordinary one, however, is to benefit the survivors. To persons in doubtful health, or who wish to commence an assurance at an early period of life, the ascending premium is best adapted. To such as begin an assurance in a time of prosperity, or in the prime of life, or even when their health has began to decline, the descending premium is recommended, since, as Mr. Pocock justly observes, it will afford much consolation to those who are advancing in years, and becoming less capable of exertion, to know that their disposable property is periodieally increasing, without requiring any additional exertion on their part; or that they are gradually being relieved from their annual payments, after having made the first heavy premiums at the time when they were best enabled to provide for them. Our author then proceeds to a most interesting portion of his subject, viz., an historical view of the origin and progress of insurances. He dates the earlier start ing into notice of the subject as far back as the later ages of Rome, when vessels lost at sea, or taken by the enemy, were to be replaced in return for supplies furnished to the army in Spain. As a legal and commercial system, insurance of ships is to be traced to the early part of the sixteenth century, from which time it appears to have advanced in Spain, Italy, and Holland. In England, the first regulations concerning it are referred back to the year 1661. From this time forth, a gradual improvement in the regulation and principles of insurance has been manifested, and henceforward it becomes of course more and more interesting. Mr. Pocock gives a most amusing account of the rise and progress of these societies, and we ourselves propose at no distant day to enter into a few inquiries on this subject, and to present our readers with accurate accounts of every assurance society in London. We, therefore, invite the most ample information upon this topic, as the greater the means at our disposal, the better shall we be able to describe them. PUSS IN BOOTS. A FAIRY TALE. BY FANNY E. LACY. Once on the borders of fairy land For the youngest gain'd nought but the family cat. I'll only just add-Don't you wish you may get it?" Who sidling and purring said, "Take my advice; I've pry'd into corners, and watch'd upon tiles, suits; Only give me a bag, and a smart pair of boots." The boots were provided, a most stylish pair; (A misfit had been a most awkward affair,) And great the amazement of mouse and of rat To view such a swaggering "swell" of à cat! Who carried his bag like some limb of the law, All craftily spreading his bag in the shade, Then bending him low at the royal footstool, I respectfully urge, that strong drink is no go.” Now after awhile, to his master one day, Says Tom Puss, "Sir, the king will be passing this way, So haste you to bathe in the stream here about, While the tea and the coffee like nectar did seem, Then the princess, acknowledging love's mighty rule, So matters were settled according to law, Young Edwin complied, and without any fear; The king call'd his guards instant aid to afford, That our carriage may homeward his lordship convey." While Edwin so handsome appeared, and so smart, - CHAPTER I. THE PRIESTLY GUARDIAN. * The funeral was over. In a dark room, where, for some hours before, the body of him who had once owned the houses, and its surrounding lands, had lain, were now congregated the whole of the relatives of the deceased, who had attended the funeral; and who had, in consequence of a summons issued by the That the princess beheld him to lose her young dying man, come to assist at his obsequies heart. Then quickly the carriage Puss scampered before, The ogre complied, and Puss-gobbled him quick! Tom brush'd his smart boots, and stepp'd forward to greet The party approaching this fine country seat: But hope you'll permit us with you to alight;" If you set your cap at this very rich man.” Then Puss led the way in this castle so fine, There -many from a great distance. were old men and young men, old women and young women; some that were ugly, some that were otherwise; but all united in paying but very little reverence to the memory of the departed. Indeed, Michael Malines, whose translation from this to, we hope, a better world, had drawn so many people from so many places, had, during life, paid so little attention to those united to him by ties of blood, that it was little wonder if, when he was dead, his name should be bandied about with but little ceremony. Those who, when alive, neither served nor benefited mankind, can scarce, when dead, expect their consideration. "Mort de ma vie !" exclaimed a choleric old man, with a soupcon of gout about his thick feet," the notary keeps us long waiting. I hope the legacies we shall have may repay all the trouble we have gone to. Dieu de Dieu !" |