An essay to ascertain the value of leases and annuities for years and lives, and to estimate the chances of the duration of lives. Wherein are many observations on bills of mortality, etc / [Anon].

Weyman Lee

Date:: 1737

Credit: An essay to ascertain the value of leases and annuities for years and lives, and to estimate the chances of the duration of lives. Wherein are many observations on bills of mortality, etc / [Anon]. Source: Wellcome Collection.

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$[ *5 ] ’till another Renewal comes, and then an addi¬ tional Mortgage is made, and fo, toties quoties, ’till feveral Renewals have eat out the Principal. To prevent this Mifchief, which but too fre¬ quently happens upon thefe Sorts of Eftates, I muft agree that the Provision here made is a very proper and a prudent one ; But then I doubt it will be enumerated among the Incon- veniencics which attend thefe Eftates ; and we are to feek the Remedy for it out of fomething which does not arife from the Eftate itfelf In another Rcfpe61, and which is the only one that fhould have been here regarded, that js, whether it would be Prudence to lay out Money on fuch Eftates, it muft have been better to have fuppofed the whole Sum laid out in a 1 urchaft, bccaufe, in Point of Computation at leaft, fuch a Purchafer muft have had the Ad¬ vantage, juft as much as Money at 6 l. per Cent. if it were really to be had, will produce a bet¬ ter Income than the fame Sum at 5/. pet- Cent. and as a larger Eftate, when fold, will yield a greater Gain in Proportion than the Ids Eftate, on a Suppofition of a Rife in the Value. But what if this 800/. or poo/, which is fo providently retain’d in Hand as a Fund to raife fhc I ines on Renewals, and out of which fuch vaft Mountains of Gold are to be railed, ihould be fhort enough to anfwer the firft Purpofe, viz. to raife the Fine ? The Intereft of Money, iince the \ ear 1718, has fallen, though not by Law, yet in Fad and in Pradtice, fo that this principal referved and put out at Intereft, fupr poling$