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George too upset to speak only gurgles and waves his arms; so sudden, you see. The other, warming his back at the fire, goes on. Wood-pulp business next door to a failure. Tinned-fruit trade nearly played out. . . You're frightened, he says; but the law is only meant to frighten fools away. . . And he shows how safe casting away that ship would be. Premiums paid for so many, many years.
Every year, and upon an ever-growing scale, both private individuals and business concerns pay sums of money, which reach in the aggregate a colossal sum, as premiums to insure themselves against loss by Fire, Shipwreck, Burglary, Death, Death Duties, against every risk which Insurance Companies will cover. Now Insurance Companies are not, as we say, in business for their health.
But how, it may be asked, could the company's actuary know that the man's house would last until he had paid in more than its insured value in premiums more, that is to say, than the company would have to pay back? He could not, but from his statistics he could know how many houses in ten thousand of that kind burned in their first year, how many in their second, their third, and so on.
This discouraging condition of affairs sorely afflicted her, and produced a kind of equinoctial agitation in the Hollis kitchen. Sandy went on into the dining-room, but he found no welcome there. Mrs. Hollis was submerged in pastry. The county fair was her one dissipation, and her highest ambition was to take premiums.
In fact, it was utter high treason. But in the long run we carried our point. It is true, we had some indenture-bound apprentices. These were pupils who paid premiums. In certain cases we could not very well refuse to take them. Some of them caused a great deal of annoyance and disturbance.
In addition to the grant of Parliament, a Society, instituted in London, for the encouragement of arts, manufactures and commerce, offered certain premiums for the advantage of the British American dominions, among which were: "For every pound of cocoons produced in the province of Georgia and South Carolina, in the year 1764, of a hardy, weighty and good substance, wherein only one worm has spun, 3d.; for every pound of cocoons produced in the same year, of a weaker, lighter, spotted or bruised quality, 2d.; for dupions, 1d."
In King William's time the case was much the same at first; though the king had not broken his credit then with any man, yet how did they break their faith with the whole world, by the deficiency of the funds, the giving high and ruinous interest to men almost as greedy as vultures, the causing the government to pay great and extravagant rates for what they bought, and great premiums for what they borrowed these were the injuries to the public for want of credit; nor was it in the power of the whole nation to remedy it; on the contrary, they made it still grow worse and worse, till, as above, the parliament recovered it.
There's some folks, child, that don't have to do anything but walk along and hold out their hands, and the premiums jest naturally fall into 'em; and there's others that work and strive the best they know how, and nothin' ever seems to come to 'em; and I reckon nobody but the Lord and Sarah Jane knows how much happiness she got out o' that cup.
This occurred about the commencement of the great Potato Revolution an event which I apprehend will be long remembered by the squirearchy and shareholders of these kingdoms. The money-market was beginning to exhibit certain symptoms of tightness; premiums were melting perceptibly away, and new schemes were in diminished favour.
It proved that they are consuming the substance of the people by returning in satisfaction of matured policies about one-third what they collect in premiums. Of course, the expose aroused the ban-dogs of Dives, and they made the welkin ring from Tadmor in the wilderness to Yuba Dam.
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