The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1907-08-18

patronixed to the extent OF $S,lS2, l2I,' :
los. is what IL to be tested in Massa
chusetts. The problem Is to discover
ii any considerable number OF people are
wiling to do their duty by themselves
and their families without being led to
do so by n persuasive agent Under the
law the banks are not to employ soli,
citors to sell either anmities OF policies.
The business will be strictly "oyer the
counter" There will, however doubtless
see no reasons why the advantages OF old
age pensioning should not be set forth
in the form OF such advertising as these
institutions do in the local press,
Ii successful, the scheme will carry
out in the United States idea which have
belonged to the conception OF the an.
nuity from the beginning. The mathe-
mates OF the arrangement by which q
sum Of money, either in single pay.
ment or series of payments, can be 50
applied at compound interest rs to pro-
tiuce annual payments of q fixed amount
during the remaining life time OF an
average individual was first worked out
by no less parsonage than the Grand
Pensionary of Holland, John Dewitt, the
statesman, who SO often led the Dutch
to victory against the English.
Dewitt who had become interested in
speculation then current regarding proba-
bilities in games of chance, was the
first to establish for philanthropic pur-
poses tables OF mortality, based on the
register OF births and deaths in Dutch
parishes, He wrote and presented to
the State General of his nation a ira
tise on life anRities" in which were
laid down practically all the princi-
pies now in use. His wus really re-
markable achievement. Most OF the 9th.
er mathematicians OF the age--li&e the
gentle and pious Pascal-were engagd
in the less humanitarian task of dis.
covering by what calculations they could
break the bank at dice or cards. Some
time after DeWitt's tragic death at the
hands of an ungrateful populace others
developed the details of his scheme.
Among them it is well remembered, was
the French philosopher, Condoreet, who
proved by mathematical tables that the
human race would soon be perfect and
immortal. He committed suicide, UNI
fortunately. before he had illustrated his
own theory.
Throughout the eighteenth century,
VIXEN philosophical and practical de-
signs for the benefit of humanity, were
popular, mathematicians were perfect
ing the arrangements by which annui-
ties could be isued. Soon associationI
begun to handle them as a business Of
4 beneficient character. The ''Laudable
Society of London, for the benefit Of wi.
dows,' was begun in l76l, while the
London Annuity Society was established
in 1855. Throughout Great Britain vol
untary annuity associations were form
ed, many Of which have lasted down to
this day. Part of the work of the ideal
savings institution, as outlined in 1907
by Samuel Whitbread, the Wing reform
er, was to provide annuities on favorable
terms. Eminent mathematicians, like
the Rev. DR.. Price, gave time and study
to the theory OF "revisionary payments"
In British life, as every reader of En-
gIIsh novels learns, the annuity has long
been very important efature.
Speculations and practices regarding
anuities spread even to this country.
Among the photographed treasures Of
the Boston Public Library is The Plan of
u Society for Making Provisions for
Widows by Annuities for the Remainder
of Life and Granting Annuities to Per.
sons after Certain Ages with the Proper
Tables For Calculating What Must Be
Paid by the Several Members In Order
to Receive the Said Advantages By Will
liam Gordon Boston Sold by Joseph Ed
wards and John Fleming.
MDCCLXII
This book contains not little homely
philosophy Of life-of the kind the au-
thor Of 'Poor Richards Almanac" must
have been approved, and lot of dis
agreements with the mortality tables
used in Great Britain The census of
Massachusetts, ordered by Lieutenant
Governor Hutchinson is used to illustrate
the authors points.
Renewed interest in this whole sub
- L