Knowledge for the Time a Manual of Reading Reference And Conversation On Sub
Knowledge for the Time a Manual of Reading Reference And Conversation On Sub
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In the Institutes of Menu, which were drawn up about B. C. 900, the lowest legal interest for money is fixed at 15 per cent. , the highest at 60 per cent. Nor is this to be considered a mere ancient law now fallen into disuse. So far from that, the Insti- tutes of Menu are still the basis of Indian jurisprudence; and we know, on very good authority, that in 1810, the interest paid for the use of money varied from 36 to 60 per cent. ; Ward places it at 75 per cent. , and this without the lender ...incurring any extra- ordinary risk.
Origin of Insurance.
Mr. G. F. Smith, in a paper read to the Institute of Actuaries, is of opinion that the earliest direct mention of Marine Insurance is in an ordinance of the City of Barcelona, of the year 1433, in which it is ordered that no vessel should be insured for more than three- quarters of its value ; that no merchandise belonging to foreigners should be insured at Barcelona, unless freighted on board a ship belonging to the King of Arragon ; and that merchandise belong- ing to Arragonese subjects on board vessels belonging to other countries should only be insured for half its value.
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To quickly assess the difficulty of the text, read a short excerpt:
In the Institutes of Menu, which were drawn up about B. C. 900, the lowest legal interest for money is fixed at 15 per cent. , the highest at 60 per cent. Nor is this to be considered a mere ancient law now fallen into disuse. So far from that, the Insti- tutes of Menu are still the basis of Indian jurisprudence; and we know, on very good authority, that in 1810, the interest paid for the use of money varied from 36 to 60 per cent. ; Ward places it at 75 per cent. , and this without the lender ...incurring any extra- ordinary risk.
Origin of Insurance.
Mr. G. F. Smith, in a paper read to the Institute of Actuaries, is of opinion that the earliest direct mention of Marine Insurance is in an ordinance of the City of Barcelona, of the year 1433, in which it is ordered that no vessel should be insured for more than three- quarters of its value ; that no merchandise belonging to foreigners should be insured at Barcelona, unless freighted on board a ship belonging to the King of Arragon ; and that merchandise belong- ing to Arragonese subjects on board vessels belonging to other countries should only be insured for half its value.
What to read after Knowledge for the Time a Manual of Reading Reference And Conversation On Sub?
You can find similar books in the "Read Also" column, or choose other free books by John Timbs to read onlineMoreLess
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