Printed 'Prospectus of the Equitable Annuity Association, Instituted in 1816.'

Author: 
Equitable Annuity Association, London [ J. T. Barber Beaumont, Managing Director ]
Publication details: 
[ Equitable Annuity Association, London. ] London: Printed by C. Roworth, Bell-yard, Temple-bar. [ Circa 1825? ]
£180.00
SKU: 19342

3pp., 8vo. In good condition, lightly aged paper. Well-written, in small type. The aim is to raise a quarter of a million pounds, to render 'annuity purchases' as a 'species of investment [...] as safe and as convertible to the members of the Association as any other'. Following a list of trustees, directors, managing director and auditors, under the patron the Duke of Sussex, the prospectus begins: 'A great proportion of persons who are under the necessity of raising sums of money, whether to discharge debts, to repair misfortunes, or to advance beneficial objects, have no valid security to offer beyond the period of their own lives. Such persons being therefore unable to assure a return of princpal when desired, are reduced to the necessity of granting life annuities. Others also having permanent security to officer are frequently unable to procure advances at legal interest in consequence of the pressure on the money market, and are driven to the expedient of purchasing a preference by the grant of annuities upon the surviving of many lives.' Includes 'A TABLE shewing the Amounts that may be realized by Annual Reserves steadily improved at SEVEN per cent. Compound INTEREST.' Whether the scheme was proceeded with is doubtful: there is no references to it in The Times, for example. No other copy traced, either on OCLC WorldCat or on COPAC.