and, after having done much execution with his own hand, was, together with the most of his party, cut in pieces. In fine, much valour was exerted on both fides; and the victory brought the greater honour to the Scots, that it was obtained, not over an ill difciplined multitude, as fome reprefent the English to have been, but over a regular and well marshalled army, who fought both with valour and skill.' Several Scotticifms, both in orthography and expreffion, befides thofe marked with Italics in the preceding quotation, occur in this work (fuch, particularly, as would for should, and will for fall) which we are the more careful to remark, as we apprehend there is fome danger, from the degree of reputation which many Scotch writers have of late defervedly obtained, that their provincial violations of the true phrafeology and idiom of the English language, may, by degrees, be inadvertently adopted. E. ART. X. Articles of the Univerful Inflitution for Affurance on Lives. In three Parts. Comprehending the Public at large-Those who ferve in the Armies of his Britannic Majefty-And thofe in the Royal Navy. Calculated on a new Principle. Whereby the Benents to Subfcribers are clearly defined, and established on a double Security. 4:0. 1s. Printed for the Proprietors, at their Office, No. 76, near the Adelphi, in the Strand. ANY and various have been the plans propofed to the public for granting Annuities to widows, making provifion for the benefit of age, infuring lives, &c. and Dr Price, in his Obfervations on Reverfionary Payments, has fhewn the incompetency of feveral of thofe propofals which had been adopted, and embraced by the public. Their infufficiency for the defigns propofed, was owing to their having granted too much, or required too little from thofe who fubicribed to them. The plan now before us cannot be liable to the fame objection, as it promifes no annuities, but only fuch a determinate fum upon the death of any Nominee, as the Subfcribers in that Clafs and Divifion agree to raife on every fuch death; about 25 per cent. being first deducted to make an aggregate increafing fund to be equally divided among the fubfcribers in that divifion whofe nominees fhall be alive at the expiration of ten years. The Proprietors, or Authors of this Inftitution, in the Preface to these Articles, fpeak highly of their Plan, as a system unknown in this or any other nation; liberal in its principle, copious in the defign, and confpicuous in the advantages it offers to the public' They fay they have, with uncommon affiduity and circumfpection, founded this Inftitution upon a bafis to extenfive, that perfons of all ages, ranks, and conditions, may fhare in the benefits which it affords.' As to the originality and extensiveness of it we have nothing to object; but when they add that it has been their aim to give all perfons an equal chance of improving their fortunes, or of providing against the days of distress, of ficknefs, and of old age,' we cannot fee with what propriety fuch a declaration is made, as the plan feems calculated for affurance upon lives only; and if a man infures his own life, it is his heir, and not himself that will reap the benefit. As to the double fecurity to Subscribers which they fpeak of, viz. an infurance upon life during ten years, and a dividend to be received at the expiration of that term, this latter, viz. the dividend, will be found very inadequate for the purposes of improving men's fortunes, or providing for old age. We fhall now proceed to lay before our Readers the plan itfelf, and fhall then give a rough sketch of a calculation, that they may in fome measure be able to judge whether this scheme be preferable to that of the Amicable Society kept in Serjeant's⚫im, or that of the Society in Nicolas-lane, Lombard-fireet. It confifts of ten Divifions; each Divifion contains three diftinct Claffes of Age; and each Clafs of Age, when full, is calculated to admit five hundred fubfcribers, who affure on their own Lives in behalf of others, or on the Lives of others in behalf of themselves; the perfons fo affuring on themselves, as well as Nominees affured on, to be claffed as follows, viz. ift Clafs of Age from 10 to 40 Year's. 2d 3d 40 to 60 Ditto. A Subfcriber can affure once only on the life of a Nominee, but on as many different Nominees, in any of the divifions, as he pleafes. Nominees to be in health, and no benefit to be received if they die within three months from the date of the Policy, or if they die out of Great Britain or Ireland. Every holder of a policy in the Divifion and Class of Age wherein a Nominee dies is to pay, upon every fuch event, in behalf of the Subfcriber who has affured thereon, the contributions mentioned in the following Table, viz. The faid benefits to Subfcribers on the death of their Nominees, equal to the number of Members in the refpective Clafs of age wherein they have fubfcribed, are to be paid to them, but fubject to the following deductions, viz. If the Nominee dies within the firft or fecond year from the date of the policy, to 29 1. per cent. in the third year to 281. per cent. in the fourth to 271. per cent. in the fifth to 261. per cent. in the fixth to 25 1. per cent. in the feventh to 24 1. per cent. in the eighth to 231. per cent. in the ninth to 221. per cent. and in the tenth to 21 1. per cent. The fums raised by thefe deductions, as well as by the payments specified in the laft column of the above Table, are to be laid out in the Public Funds, as a Referved Capital, on the account of the furviving Subfcribers of the Clafs of Age wherein fuch deductions and payments have been received, and which is to remain accumulating, with the intereft, until the expiration of the ten years, and then to be equally divided between those Subfcribers whofe Nominees fhall be then alive. This is the main fubftance of the Plan. Lefs important particulars, fuch as affigning over or bequeathing policies, and other minute matters we here omit. And now let us fee what advantage this fcheme holds forth. We will take the middle clafs of age, viz. from 40 to 60 years, as it is highly probable there will be more subscribers of that class than any other, and the first Division, where 5 s. is paid in upon every demife; and we will also suppose this divifion to be full; namely, that there are 500 fubfcribers. Then it appears from the Table fhewing the probability of the duration of life according to the London Bills of Mortality, that, 500 perfons of the mean ages of that Class; that is, from 45 to 55 years will die off, during that time, at the rate of rather more than 16 in a year, or 164 in 10 years; and therefore in the course of the first and second years the deductions will amount to about 5901. each, and these reserved capitals will decrease every year, on account of the diminution of the rate per cent. on the money collected, at fomewhat more than 20 1. a year. Now if these feveral fums, thus collected, be put out to intereft, and managed in a proper manner, they may be supposed to amount at the end of ten years to about 6000 1. which fum is to be divided among the 336 furviving fubfcribers; and gives a dividend of 171. 17 s. Now 171. 17 s. being taken from 41 1. the whole fum paid in, leaves 231. 3s. the charge of infuring 931. 15 s. upon a life for ten years, which is at the rate of 2 1. 6 s. 4 d. per ann. And had there been a divifion for infuring just 150l. upon a life, in the fame proportion, the expence would have been 31. 15 s. per ann. whereas it is fomething more than 51. per ann. at the Office in Serjeant's-Inn. What the expences in Nicolas-lane are we know not. However, what is faid above must be looked upon as a very rough eftima 201. E 4 tion; tion; the Authors of the Plan not having fufficiently explained themselves in the Pamphlet in feveral particulars, which ought to enter into the calculation: and they refer us to their own Subfcription Books for information concerning what commiffion they take themselves for the management of the bufinefs, and for their expences. N. B. The Plan above mentioned is general for all profeffions, excepting for those who serve in the Army, or in the Royal Navy; and there are feparate Plans added alfo for them. W ART.. I. RECHERCHES fur le Commerce, ou Idées relatives aux Interets des Peuples de l'Europe, &c. i. e. Inquiries concerning Commerce, containing Ideas relative to the Interests of the European Nations. Volume the First, in Two Parts. Amfterdam. 1778.. Commerce, in all its effects, variations, principles and influence, is a fubject too extenfive and complicated to be eafily exhaufted, notwithstanding the innumerable multitude of volumes it has produced. It is eafy to perceive that the ingenious and learned Author of this interefting publication does not mean to give a fyftematical and complete treatife on this subject; nor does he think that his work will be generally relifhed: for, he is far from extolling the advantages of a widely extended. commerce, except in those countries which are happily situated for trade, whofe territories are not vaft, and whofe productions are infufficient for the comfortable fubfiftence of their inhabitants. What will the mercantile critics fay of a writer who confiders agriculture as the only folid and real fource of riches. and profperity to the inhabitants of an extenfive and fertile country; and who regards the enormous increase of foreign commerce in fuch a country, as the pursuit of a vain phantom of momentary gain, which ends in corruption of manners and national ruin,-who decides, though with much modefty, in the negative, that famous queftion, Whether the great quantities of gold and filver that have been fent from America, during the three. last centuries, have been advantageous to the nations of Europe,-and who wishes that those diftant regions of the globe had remained undiscovered? This may expofe him to the cenfure of certain judges, but he will appeal to the human race, whose happiness he feems to have fincerely in view, and whose eyes he endeavours to open upon their true interefts, The The two parts that compofe this firft volume, contain fourteen chapters. The firft part exhibits a general idea of commerce and its effects on different nations; but here our Author gives his principal attention to that great æra of European commerce, which takes its date from the difcovery of America. The fix following chapters, which conclude the first part, are employed in illuftrating the fubject of money, a matter that is full of difficulty, and has rarely been treated with the precifion, perfpicuity, and attention which its importance requires. In these chapters our Author gives a clear and accurate account of the Roman coins, and of their various divifions; as alfo of the variations they underwent, from the earliest times of the republic to the end of the Western Empire. He then proceeds to thofe of the Francs, from their fettlement in Gaul, together with the proportion, that was fixed by their defcendants, at different periods, between gold and filver currency. He inveftigates the origin of coined money among the Batavi, and its variations, firft under the government of the Francs, and afterwards under the fovereignty of the counts of Holland; and following the fubject, through fucceeding ages, to the prefent times, he enters into a very circumftantial account of the state of money, the price of lands, provifions, &c. in the country now called the United Provinces, during the course of four centuries. We fee plainly that our anonymous Author is a native of that country, and we think, that what he fays of it is true and interefting; at least, he feems to be perfectly well informed of every thing that relates to its commerce, navigation, and local circumftances. This appears particularly from the eighth and ninth chapters, the laft of which is a well-compofed recapitulation of the preceding parts of the work. The affertion of Mr. Hume, that the great increase of the quantity of gold and filver in Europe, for fome centuries paft, has neither been prejudicial to individuals nor to the public, is keenly, and, we think, fuccessfully, oppofed by our Author; who maintains, that the increafe of thefe precious metals, joined to the variations and rife in the value of the coin, has thrown all into confufion in Europe. To prove this, he gives, in the tenth chapter, the whole amount of the gold and filver imported into Europe fince the discovery of America; and none but a perfon long accuftomed to deep obfervation and eager refearches concerning commerce and money, could have exhibited, with fuch minute accuracy, the quantity of those metals, that annually comes in and goes out of Europe,-that which circulates in commerce and exchange,-that which is employed in drefs and furniture, that which is used in ornamenting churches in Roman catholic countries, and that which is kept in bars in different places of commerce. The |