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CHAPTER XX.

which was that of the father and mother. Here he had || the mouth like a mad dog; and then, mustering up all the audacity to kindle a lamp, by means of a flint and his force and all his fury, plunged with the girl over steel which he had brought with him. He then drew a the ledge; and, whirling about in the air, and bounding large pistol from bis pocket, and, approaching the bed, from crag to crag, they were presently dashed upon the determined to shoot them both should they awake. slope which sinks yonder into the lake. Their bodies Sound sleep, however, preserved their lives. He then were immediately found, indescribably, mutilated and proceeded into the next room, where he found the young | disfigured; and the brother and sister, the only hopes woman's brother, a stout young man of about five-and- || of their parents, were buried in one grave. A hole in twenty. He also was asleep, for it was past midnight. || the mountain received the corpse of the brigand. The In the room adjoining, the brigand found the girl, over mother lost her senses, and may still every day be seen whose mouth he passed a tight bandage, tying it firmly sitting at her door, asking the passers-by if they have behind the head. By doing this he awakened her, but scen Bianca, and if they can tell her when she will she could not speak; and, holding the pistol to her

come back.

Iler husband lives to watch over her; head, he swore if she struggled he would shoot her on and there is not an individual in the whole country the spot. He then took her in his arms, and carried round who does not pause to cast a pitying blessing her, struggling, through her father and mother's bed- on Bianca's mother, and on the husband who so tenroom; and, getting out through the window, descended derly watches over her.” the ladder, where he placed her on her feet, and, seizing her by the arm, forced her along. A neighbour, who happened at this moment to be looking out through her

DIALECTICS IN SMOKE. window, saw the young girl struggling hard with the The reader will, I trust, excuse me for not enterbrigand ; and, in the contest, the bandage fell off hering here into the military history of the Bocchetta, and mouth. She then shouted with all her might, waked telling him how the Imperialists forced it in 1746, and her father, mother, and brother, together with several thus opened themselves a way to Genoa. All this sort of neighbours, who all now rushed out to give chase. The information may be obtained elsewhere. I only underbrigand now once more snatched her in his arms, and take to describe my own movements, with what I saw, succeeded in effecting his escape into the woods. How felt, and heard. It belongs to learned travellers to he forced her along is not known; but her cries directed enter minutely into the annals of former generations, the pursuit for some time. At length, however, she be- || and relate the fortunes of all the cities and countries came silent, and it was feared that he had killed her. The through which they passed. My task is a much humbier night passed on, and the dawn began to break, when one, and I cheerfully abandon to them all the honour the brigand and his shivering captive were seen high and profit to be derived from the grandeose style of up among the rocks, making, as it was supposed, to- // writing. It will be understood that we did not remain wards his cave. The pursuit now recommenced with all night on the borders of the tarn, but returned fresh alacrity. Father, brother, and neighbours, climbed early to our inn, where we enjoyed the luxury of a the rocks, spreading themselves so as to encompass the hot supper. Some physicians, I believe, condemn this brigand on all sides, and to force him towards yonder meal as the prolific parent of nightmare, apoplexy, and precipice, where, it was thought, he must of necessity what not. But I like it, nevertheless, especially when surrender. Powerful as he was, he gradually became it is eaten in company with pleasant people, whose exhausted, by being forced from time to time to carry || voices, looks, and smiles impart to it a better relish his captive in his arms. His exertions, therefore, slack- || than the finest sauce. On the present occasion we ened; and the villagers approached nearer and nearer. In had an immense treat, fresh trout and grayling, known order to intimidate them, he drew one of his pistols, and to our neighbours by the poetic name of ombre checafired. No one was hurt; but, with the second, he shot | lier-I suppose because of its darting through clear the brother, who fell, staggering, into his father's arms. streams like a shadow. These delicate fish, nicely The neighbours, now seeing that blood bad been shed, fried, and served up like Turkish cababs, hissing hot, likewise grew ferocious, and rushing towards the brigand,|| appeared much to the taste of all present. The Capdetermined to take his life. He retreated towards yonder tain pronounced them magnificent; and Madame ledge, and threatened them that, if they did not stand || B- in all such matters quite his echo, protested still, he would plunge over it, with the girl in his arms.she had never tasted anything so good in her life. They treated this as a vain menace intended to arrest | Carlotta was much of the same opinion. The rest of their progress; but the girl, who had by this time the party, no way inclined to get up a controversy on learned the character of her captor, entreated them to the subject, agreed with us to a tittle. So we ate, and ilesist. She shuddered, and shrunk back from the were very merry, as people should be who have nodreadful depth before her. Underneath, there were thing on their consciences. It would be wrong, howseveral hundred feet of rock, and a deep lake. The ever, to grant a monopoly of praise to the fish, since head, as you must feel, gentlemen, turns giddy even in the wine was no less deserving of commendation. It ooking up; you may easily conceive, therefore, what | sparkled in the glasses like liquid amber, and diffused t must be to look down from that tremendous height. | around a delicious aroma, enough of itself to intoxiBut the blood of the villagers was heated. They cate a poet. Let no one misunderstand me if I conlashed forward, the brigand still waving them back fess I love wine. Not for its own sake-God forbid ! rith his hand, and uttering the most fearful threats | | ---but for that of the agreeable things to which it nd imprecations. Every instant, he drew nearer and gives birth among pleasant people. It operates like earer the edge of the abyss. His face grew pale with moral sunshine on the human countenance; it adds fresh nge. He seized the girl by the hair of her head; he brightness to the brightest eyes; and, as it lies cradled hook his clenched fist at biş pursuers; he foamed at || in glittering crystal, appears half conscious of the ideas

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it is capable of inspiring. No philosopher, I admit, || not without some reason, that there is a fashion in has yet discovered the way in which it impregnates religion as in other things, and that in the history of the brain, and calls into being swarms of gorgeous fan- | the world, faiths come in and out like ruffs and farcies, flashes of fiery wit, modifications of grotesque and thingales, though sometimes under new names; but comic humour, that set the table in a roar. But though || Catholicism he maintained to be the creed best adaptthe metaphysics of the affair may balile us, we cannot ed to the wants of man in this world, made up as it be at all mistaken respecting the plain matter of fact. is of mystery, dogmatism, and an incessant appeal to Half the literature of the old world owes its charms the sensibilities of our nature. Its mysteries are calto wine. How the poets revel in the subject! How culated to excite and keep alive our curiosity; its they boast of those“ noctes cenæque deorem" over dogmatism subdues our will; its poetical character adwhich the Falernian sheds its perfume, and where dresses itself to our imaginations, and transports us into the Chian, or Marxotic imparted fresh wings to the a world of soft illusions infinitely delightful to the mind. imagination! And yet, I dare say, they were all in “But, my dear sir,” exclaimed the Captain,“ what reality as sober as quakers, and drank chietly out of signifies this if it be false ; as I maintain it to be. It those fabulous bowls which were served up to the gods has had its day, however, and is now dying out. of Olympus.

People fancy they see tokens of revival in England, It is to be hoped the reader, especially if a lady, is France, and elsewhere, because a few mystical priests of a tolerant disposition ; otherwise, I shall scarcely and clergymen, eager for ecclesiastical domination, are obtain forgiveness for my frequent introduction of labouring to diffuse an artificial enthusiasm for niches, cigars. But how can one draw a true picture if he wax tapers, high altars, beads, copes, and dalmatics. omit the principal figure ? And where smokers are But does the history of mankind atford one single ex. assembled, your cigar, like the Zeus of the old Orphic ample of the resuscitation of an old creed ? No, sir, hymn writer, is first, last, and middle. At alla religion, once dead, is dead for ever," events, as soon as we began to feel ourselves comfort- “But can a religion be dead,” interposed Carlotta, able after supper, the Captain brought out his case, “when it has an altar in every heart—when it places filled with choice Los dos Amigos, and politely handed us, morning and evening, on our knees—when it beit round. No one, of course, refused the proffered gets hourly in us a fresh sense of dependence on weed. Experience had taught us that the ladies were Heaven, and a constant desire to do whatever is best tolerant; so we all lighted at once, and were soon en

for those around us?' veloped in an ambrosial cloud, as thick, if not as fra- “My dear young lady," replied the Captain, “it is grant, as that in which carne bewo ne xai avbewowy em- Christianity, not Catholicism, which does that.” braced Hera on Olympus.

" They are the same thing,” said Carlotta. Who that had seen us then, overflowing with the Exactly,” exclaimed the Carbonaro. milk of human kindness, as serene, pacific, and dreamy

Madame B- felt much perplexed. In some as opium-eaters, would ever have imagined the topic respects, she liked the heretical Captain; but as her which Até threw in, like the apple of discord, among us. understanding had always been in priestly leadingMilitary men are often great theologians, it being a strings, she thought that however pleasant he might rule in this world, that people always best like to talk be in this world, he would certainly be damned in the about what they do not understand. Our Captain pos- | next. However, it was for this world, and not the sessed this fine quality, and being, of course, a Protes- next, that she desired to marry him; and therefore she tant, contrived--Heaven knows how!—to engage us dissembled her condemnation of his heresy, and adroitly all in a discussion on the comparative merits of the led us back to more pleasant topics, for which I two churches. As might have been expected, the felt deeply indebted to her. It was, indeed, full time, Carbonaro looked down with supreme contempt on since, with the exception of Carlotta, every body had all churches, and, indeed—which, however, is a very begun to wear a controversial aspect, and to look as different thing - on all religions, also. He had been fierce and threatening as two bulls before a berd of taught, poor fellow, to believe that complete liberty is cows in a meadow. Even the influence of Los dos only to be attained by emancipating the mind from all Amigos might not have sufliced to keep us friends. its preconceived notions, whether true or false ; and Man's religion or irreligion is his private property, and his creed, accordingly, was the most compendious therefore he feels excessively sore when other people imaginable, since he believed nothing; but, like another rudely trespass upon it. Indeed, we are as jealous of person of our acquaintance, who shall here be nameless, it as we are of our wives, and are quite as ready to he had not a metaphysical head, and therefore, though resent an insult offered to it. Doubly valuable, therehe argued a great deal, there was nothing in it. Hefore, was the politic interposition of Madame Bhad read “ Lamettrie,” and the “Systéme de la Na- and long may she enjoy the blessing which attaches ture," peeped into Kant, and Hegel, Fichte, and Schel- to the peace-maker. Fresh cigars were lighted, fresh ling, and amused himself occasionally with Vanini bumpers filled up; and when at last we parted for the and Giordano Bruno. He had, accordingly, a great night, it was as the best friends in the world. We deal to say, and said it with an easy dogmatisin, well had steered nicely between Scylla and Charybdis, and calculated to impose upon the ignorant.

retired to bed not only whole in bones, but with whole With this redoutable young gentleman, the Captain, tempers. It was a controversy spoiled. in one of his airy mental excursions, came into colli- As the reader is, of course, well acquainted with sion. But materialism is an unfruitful and uninviting the Anabasis, he will remember with what rapture the topic; and, to my very great relief, the Dalmatian Greek soldiers beheld, from the summit of certain mong adroitly shifted the ground of argument, and brought tains, the broad, glittering expanse of the Euxine, and it round to the chances of Catholicism, He thought, Il who they rushed forward, brandishing their spears and

clashing their shields, exclaiming "Thalata, thalata,” || of the mind which follows upon the heels of protracted (“The sea, the sea”). I am not ashamed to say that I excitement. Everything above, around, and below experienced something of the same delight when, from you, seems flat, stale, and unprofitable. Your coffee the summit of the Bocchetta, I caught the first glimpse is bad, your supper is worse, the smoke of your cigar of the Mediterranean. Inexpressibly bright and blue smells like assafætida. When you go to bed, you

can't was its surface; but it was not its brightness, it was sleep, and your waking thoughts are like so many not its colour, that acted like a spell on the ima- hellish dreams. I began to think what a fool I was gination. It was the thousand associations that had to leave home, and travel thousands of miles by sea and been created in my mind ever since boyhood, that lent land, just to see a river, a few old walis, coluinns, and a to the aspect of it so powerful a charm. All the glory || rabble of dirty Arabs. Could not I read about them, and of the Roman Republic seemed to be unrolled upon be contented ? And then, how cruel it was to leave my its bosom. The galleys wbich bore the men who con wife and children, and the cholera committing fright. quered the world, and put their democratic feet upon ful ravages along the frontier, and just upon the point the necks of so many kings, had ploughied those waves, of entering Switzerland. I should positively never which roll as freshly now before the breeze as when see them again. For was not the plague always in the prows of the carly consuls dashed through them Egypt? Did not the desert swarm with robbers ? in the rapture of youthful freedom.

Were there not crocodiles in the Nile big enough to We now descended rapidly into the valley which swallow me at a single mouthful? Were there not leads to Genoa, following nearly all day the course | fevers of all shades and hues in Alexandria, in Cairo, and of the river which has its embouchure near that city. | all the way up the valley ? It would have been much I know not how it happened, but this was the least better to have thought of these things in time. And pleasant day of the whole journey. We had contracted then, would my constitution hold out? Was I not alsomething like a friendship for each other, and felt that ready immensely fatigued? Was I not thin? Was we were here to part, some in one direction, some I not feverish? Was I not, in short, utterly bein another. The Milanese conspirator could not, more- deviled ? In this pleasant frame of mind I went to bed, over, forget what dangers and difficulties lay before where, instead of enjoying sweet sleep, and getting him. Without a passport he could not enter Genoa ; comforted and refreshed, my torments were increased and how, without a passport, was he to embark on any a hundredfold. No sooner had I extinguished the ship or steamer ? These einbarrassing thoughts occu- candle, than the enemy descended on me in myriads, pied his mind, and kept him silent. The Hanoverian in the shapes of infernal mosquitoes, which stung me and Dalmatian had cach his peculiar cause of anxiety. || almost to madness. I battled with them manfully. Carlotta and her mamma were almost sad. The Cap- l I killed them, hundreds at a time, on my forehcad and tain's family was not addicted to talking, so that the on my cheeks, till my hands and face were covered task of keeping up the ball was left entirely to him and with blood. Still their numbers did not seem in the me. He was an old traveller, and, therefore, always least to be diminished. They renewed the attack as endeavoured to make the most of his time. He formed long as there was a whole place left on my skin, and no sudden likings or dislikings. He had a smile and a

then stuck their stings into the wounds made by their pleasant word for everybody, could discuss all common. || predecessors. If I had known Sterne's chapter of curses place topics with fluency, regarded everybody around by heart, I would gladly have levelled it against moshim as part of his amusement, and was intensely self-quitoes and all Genoa, which I pronounced all night long satisfied and comfortable whether whenthey left him they | to be one of the avenues to Tartarus. Once I fancied went East or West, to the antipodes or to the devil. It it would be a fine stroke of northern policy to wrap mattered not a jot to him; he had seen them, he had con- my head in the sheet; but, besides that I should soon versed with them, and when they vanished he thought have been stifled on account of the heat of the room, as little of the circumstance as the dispersion of a cloud large numbers of the foe insinuated themselves along in a summer sky. Of this philosophy he was proud; / with me under the fallacious covering, and appeared and some, perhaps, might have envied him. I confess to sting me more at their ease. So, giving up all I did not. I regret parting with people, especially if | hope of sleep, and of remission from torment, there I their company has given me much pleasure ; and, there-lay, uttering all sorts of imprecations, till the dawn. fore, with all the efforts I could make, I was unable to Then, however, as if by magic, every little winged devil lose sight of the fact that our delightful little party took its flight, and I enjoyed two or three hours of de. would be broken up in a few hours, and that I should licious sleep. When, very late in the morning, the have once more to be thrown amongst entire strangers. chambermaid came to call me, she uttered a loud exAbout a mile from Genoa, the Milanese took his leave clamation on seeing the state of my face, and begged of us, shaking hands with more heartiness than I ex- a thousand pardons. It had been all her fault, she pected. He evidently felt much regret; and, as he went said, for, not remembering that I was a stranger, she off, I sincerely wished success to him and his cause. had omitted to pull down the mosquito curtains, which Presently we rattled into the streets of Genoa, stopped had hung uselessly over my head all night. She dein the inn yard, shook hands, took our leave of eachsired me, however, to remain quietly in bed, and left other, and, in ten minutes, I found myself in a plea- the room. Returning presently, she brought along sant little bed-room overlooking the sea, the breeze with her a cup of delicious coffee, and a thin, white, from which was blowing softly in at the open warm liquid, in a basin, in which she dipped a small windows.

bit of muslin, and bathed my forehead and face, which

were dreadfully swollen. I forgot to inquire what the

liquid was; but it almost immediately relieved the You have, of course, experienced that sudden collapse pain, and, in the course of half-an-hour, reduced the

CILAPTER XXI.

COLUMBUS AND TIE VIRGIN.

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swelling considerably, so that I was, at all events, fit! “ It does not signifig," said the priest ; “ you may to be seen. I then got up, and dressed, and, by eleven see all I have, as, if l'illustrissimo signor does not pur. o'clock, was seated in the coffee-room sinoking a cigar. chase himself, he may know some one who does." A little, withered, old mau, who sat there smoking I had gone to see Columbus, and not the Virgin also, asked me if I had ever been at Genoa before. I Mary; who smiled on me, nevertheless, from the can. replied in the negative.

vas, and in some sort reconciled me to my disappoiutThen,” said he, “let me tell you of the only curi- ment. I experienced at that moment the full fascina. osity worthy of notice which this city contains. It is tion of art. A second look at that divine coun. the portrait of Christopher Columbus, the most extra- ||tenance shed a calm over my whole mind. It was full ordinary man produced in these latter ages. I have of sweetness, full of tranquil beauty; and a light traversed the Atlantic in his track; I have explored beamed from the eyes, which nothing but the touch of every island in the Gulf of Mexico; I have sailed from genius could bestow. I wished, from the bottom of Cape Horn to Hudson's Bay; and my mind has all the my soul, I had been a picture-buyer, and could have while been filled with the image of Columbus, whose ailorded to take that gem with me to Egypt. I could genius gave the new world to the old.”

have held converse with it by the way. It would bave I thanked him sincerely for liis information, and raised and purified my thoughts, and done me good in asked him where the portrait was to be found. all respects. I congratulated the priest on his possess.

“I will take you to the house,” said he. “It is at ing so fine a picture, and asked him if lie knew the present in the possession of a priest, a very old friend of artist. He said he did not, but supposed it must be mine, who will have great pleasure in showing it to you.” by some great master. I entirely agreed with him. “Shall we go at once ! ” I inquired.

The price he required for it, however, was very mode“With all my heart !” cried the old sailor. rate. Other pictures be had, which, though not equally

And forth we issued, putting our cigars as we went. beautiful, were no less valuable, perhaps, in a commerHo inquired in what direction I was travelling; and, cial point of view. We conversed on his treasures for when I mentioned Greece and Egypt, he said he had some time; and, when I took my leave, he invited me been in both countries, had smoked a cigar on the Acro- to come again. He observed, moreover, if the sight polis, bathed in the waters of Castalia, spent a night in of works of art delighted me, he would show me a the Catacombs, and drank from a bucket at the bottom church in which, to use his own expression, there was of Joseph's Well. He was now on a voyage to the Ber- | a picture worth all Genoa. mudas; but, as the ship would not sail in less than “Come to me to-morrow," said hc, " and I will go three days, he said it would afford him infinite pleasure with you. To-day I have some little business to transto be useful to me in the meantime. When we had act, but I shall then be entirely at your disposal." reached our point of destination, he handed me over to “What is the subject ?" I inquired. the priest, and went away to transact some business in a “ Artemis bathing in an Arcadian fountain," said be. distant quarter of the city. The priest, a jolly old I looked in his face to observe the expression of it. fellow, whose ample, portly figure, formed a complete It was full of calmness and dignity. lle thought of contrast with that of his friend, took me straight up | Artemis as of a saint. I promised to call on him nent stairs, where he withdrew a curtain from a picture, || morning, and went down to take a stroll on the Mola, which I found to be a portrait of a woman.

and enjoy the fresh breeze from the Mediterranean. The “Why,” said I, “this is not Christopher Colum- view of the citybus, but the blessed Virgin.”

But no; I will not describe it now—another time will It is all one,” answered he ; " and for the rest, I do better, when I shall have seen it from all points, and I have sold the picture of the great navigator, long have studied all its aspects. Genoa stands alone among ago, but thought you would like to see this line work Italian capitals, for the nature of its site, and the spleuof art, which is also for sale."

dour of its palaces. It is, perhaps, the finest monument "I don't buy pictures," said I.

existing of almost imperial magnificence iu decay.

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A LEAF FROM MY SKETCHI-BOOK.

'Tis a pleasant spot of greenness,

Worth a poet's best of praises:
Well the sunlight loves to linger

In that grassy haunt of daisies.
Well I mind its trembling poplars,

Well the white rond that, anigh it,
Winding upward from the landscape,

Led my wandering footsteps by it.
In the gray and stony city,

Oft before me faney raises,
Soft in golden mists of morning,

Yet again that home of daisies.
t'p its cottage-smoke goes curling,

'Gainst the green still elms around it,
Where, across its white-thorn hedges,

Once again my eye has found it.
Up the wood that leafs the hill-side,

Yet again my fancy gazes

Wanders over all the far view,

Stretched beneath that haunt of daisies,
Over pasture, field, and river,

City towers, and village spires,
Travels on my eye, delighted

With a joy that never tires.
But with pleasure all surpassing,

Smile and jest, and kindly phrases,
Do I pass, as on that morning,

By that grassy haunt of daisies.
Lenning o'er the stile, I see her

As she met my passing greeting,
Fresh and flush'd as the hedge-roses

Round the green spot of our meeting.
With a laugh we met and parted-

Ah! those few sweet country phrases,
Oh! how often do I hear them,

Lingering past that haunt of daisies!
Greenwieh.

W.C. BENNITT

ISLAY AND ULSTER.

THE ISLAY TONTINE LIFE ASSOCIATIOX.

Professor de MORGAN has well observed, that,, turned to each shareholder. But this is manifestly " the theory of insurance, though based upon self-inte-| the exceptional return. It is simply the exactly calrest, is the most enlightened and benevolent formculated provision that can be promised from the prewhich the projects of self-interest ever took. It is, in sent minimum rental of £15,000 per annum. Is it fact, in a limited sense and practicable method, the to be supposed that £30,000 invested in drainage, and agreement of a community to consider the goods of its £30,000 more in general improvements, will leave the individual members as common. It is an agreement rental of a magnificent property of arable and pasture that those whose fortune it shall be to have more than land at three shillings an acre ?

Is it also to be preaverage success, shall resign the overplus in favour of sumed that the directors—as, for the sake of extreme those who have less.” And a commentator on the security, they do actually assume- —will improve their saphe subject continues:—“Life assurance, therefore, accumulated rents at only three per cent. interest ? Is might be almost called a scientific phase of Christian it to be presumed that a life assurance business will practice the most perfect mode of reconciling the in- return nil, based as it will be on so large and safe a terests of the one with the interests of the many--of foundation ? the all."

Doubtless, the shareholders whose nominees shall Yet it is well known that the first attempt to intro- || expire, before the association shall have had time duce this beautiful and beneficent science into France and opportunity to develop the resources of the estate, was put down by the Government, at the instigation of which they can only do by promoting the comfort and the Church, on the ground that it was an impious in- happiness of their tenantry, will not receive back more terference with the designs of Providence. The “Free than their £25 per share, in addition to the bonus reChurch Magazine " commeuces an article on Life As- ferred to in the prospectus. This risk must be incurred; surance and the Islay Tontine in the following terms:- and we hold that it is a smaller risk among 12,000 “On the subject of Life Assurance in general, we can- persons than has been run in any railway or public not boast a professional knowledge-we do not even undertaking. And, certainly, in proportion to the pretend to have formed, as yet, a matured opinion.” || losses incurred by the lapsing of nominees will be the Such is the exordium of a writer, who, thereafter, pro- / gain to the sliarcholders whose nominees survive; while ceeds to condemn the plans of the Islay Tontine Life every successive year will increase the interest of every Association on the very ground, among others, assumed individual shareholder. After a period of 10 years, by the Roinish cardinals of the French monarchy. every shareholder, by the conditions of the law of pro

The ecclesiastical body whose title is borrowed for babilities, must certainly receive, in addition to, and this work has no responsibility whatever for its state-independent of, any improved rental or profits from other ments.

sources, at least £30; after 15 years, at least the whole of The scheme of the Islay Tontine is as follows; and his investment; after 20 years, at least £10 more than its principles have been tested, and its calculations his investment; after 25 years, at least £200, or four conducted, by Mr. Neison, one of the most scientilic times his investment; after 30 years, at least £1,000; and voluminous statists of the present day, whose and after 35 years

, at least £12,000. We do not be numerous contributions to vital statistics, and, in espe- lieve, however, that in actual experience the Tontine cial, bis elaborate exposition and correction of the will last so long as the period indicated by the tables erroneous estimates of the friendly societies, have se- of mortality, which, of course, presume a much larger cured for him an European reputation.

and wider induction than 12,000 lives, nor that it will The Islay estates, at present, return £20,000 a-year. extend beyond 30 or 33 years, or one generation ; and Almost every lease is renewed as it lapses, at an im- | by that time at least a division will, in all probability, proved rental; and a Government grant of £30,000 is be made by mutual consent, between the last 12 or now being expended in drainage. The association pro- || 20 survivors of the whole estate, then probably doubled poses to purchase the estates at £530,000, and to raise or enhanced threefold in value. a further sum of £70,000, to be partly expended in Such are, in detail, the merits and demerits of tha further improvements for the benefit of the proprie- Islay Tontine Life Association. The objections made tary, and of the occupying tenants. The share capital to this scheme, in the periodical we have mentioned, is dirided into 12,000 shares, of £50 each, and the in- are, that "it subjects a large island, with 15,000 interest of the shareholders is to be dependent on the habitants, for a period of 40 years, to a company of lives of nominees, to be selected by them, at or above speculators whose only interest in it is the amount of the age of sixty. But the present minimum rental is money that can, during that period, be extracted from set aside, upon a scientific basis of calculation, as ait.” “With the body of shareholders, the motive premium for the mutual assurance of the lives of the to liberal management, with a view to prospective benenominees, so as to secure and guarantee the return fit, is almost annihilated.”' to every shareholder, under the worst circumstances, The secretary and the general agent of the London of at least one-half of his investment. Upon the basis corporations holding land in Ireland, in their reports of this nucleus of 12,000 policies, and on the produc- to the society in 1902, answer this statement. They tive guarantee of an improving estate, it is contem- both concur in “taking it for granted,” to use the plated to establish a general life assurance business. words of the general agent, "that our object is to proUnder any circumstances, 50 per cent. must be re. cure a wealthy and resident tenantry, whenever it

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VOL. XVI.NO. CXC.

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