Volume 1

Observations on reversionary payments; on schemes for providing annuities for widows, and for persons in old age; on the method of calculating the values of assurances on lives; and on the national debt. Also, essays on different subjects in the doctrine of life-annuities and political arithmetic ... / by Richard Price. The whole new arranged, and enlarged ... by William Morgan.

  • Price, Richard, 1723-1791.
Date:
1812
Catalogue details

Licence: Public Domain Mark

Credit: Observations on reversionary payments; on schemes for providing annuities for widows, and for persons in old age; on the method of calculating the values of assurances on lives; and on the national debt. Also, essays on different subjects in the doctrine of life-annuities and political arithmetic ... / by Richard Price. The whole new arranged, and enlarged ... by William Morgan. Source: Wellcome Collection.

    161/474 (page 107)
    besides the annual subscriptions, there ought to have been a fine paid at the commence- ment of the scheme, by every married per- son, of six guineas at least, or, by the whole number of subscribers, three. guineas. If ‘the number of married members. is,double the unmarried, the annuity ought not to ex- ceed eight guineas; and the fine from every member should be about four guineas.—The. order, that only a fourth part of the annual subscriptions and interest shall be divided the first three years, half the next four years, and three quarters the next five, is without reason; .because the number of claimants, for the first 12 years of the scheme, will be so few, that it will not be possible, during that time, that there should be occasion for. dividing any proportions so large of the an- nual subseriptions and interest, unless they: are indeed beyond all bounds too little— After 12 years, the number of annuitants will go on increasing for. near 50 years, ‘as appears from Quest. HI. ‘lhe consequence, therefore, of dividing, after that time, the whole amount of the annual subscriptions and interest, will be a constant yearly diminution in the dividends for near 50 years; and making the payments to the first claimants much more considerable than they ought to be, at the expence of all subsequent: claim- ants—For these reasons, it appears to me out of all doubt, that this scheme is by no means likely to answer good ends proposed by it;