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Article THE INSTITUTE OF ACTUARIES. ← Page 2 of 7 →
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The Institute Of Actuaries.
heroes of the story of the shield , gold on one side , and silver on the other , who from being placed in different positions , saw different sides of the same object , and taking it for granted that it was the same in all riarts , made a quarrel of their diversity of opinion , and fought over it . The errors , wherever they may be , are most likely not arithmetical , but the results of contrarietyor at least dissimilarity of
, information ; and all may have argued rightly , from wrong premises , and consequently arrived at conclusions more or less conflicting or erroneous . Clearly , if intelligent men , " so situated , could meet upon some neutral , ground , aud , in good faith , give their reasons " fox the faith that is in them , " a satisfactory determination might be arrived at by each finding that he had omitted some element perceived and used
by another , and that each yielding something , a just mean result would he found . Were it otherwise ; were the difference out of calculation , rather than of data , we should give up the reconciliation of tbe conflicting calculations as hopeless , for men will yield in matters of fact , while they will hold fast in matters of opinion ; but , as we believe it
really a matter of imperfect knowledge , making truths apparently oppose each other , we hold the opportunities for interchange of thought , provided by an Institute exceedingly desirable , as likely to solve many difficulties / There are isolated and unprecedented cases , too , sometimes appearing , which must involve some uncertainty even to the most acute and experienced , and as in " a multitude of counsellors there is
safety , " an Institute , where the point can be discussed by many competent persons , will be of great value to the offices . We do not place so much stress on the proposed examination of candidates for future fellowships , because we think that the managers of Companies are sufficiently acute and keen-sighted to see that they have value for their money , and too cautious to employ as actuary any one not
qualified to discharge the duties of the office ; and , for the same reason , we are glad to perceive that all existing actuaries are eligible , as Fellows without examination ; [ at the same time , the test is not without its value , as being likely to promote study and investigation in those who aspire to an office of great trust and responsibility . We have only to add , at present , that decided success has attended the foundation of the Institute , antl conclude with the following brief account of the proceedings at the meeting referred to .
T . he object of the meeting was to sanction the plan proposed by the Committee , appointed at a General Meeting on the 10 th June last . The following gentlemen and others were present : — Mr . Peter Hardy , F . R . S . ( of the Mutual ) in the Chair ; Messrs . John G , Auld , Colonial ; J . Berridge , Freemasons '; Swinton Boult , Liverpool and London ; Mark Boyd , North British ; W . M . Browne , Westminster and General ; Samuel Brown , Equitable ; J . Le Cappe-
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
The Institute Of Actuaries.
heroes of the story of the shield , gold on one side , and silver on the other , who from being placed in different positions , saw different sides of the same object , and taking it for granted that it was the same in all riarts , made a quarrel of their diversity of opinion , and fought over it . The errors , wherever they may be , are most likely not arithmetical , but the results of contrarietyor at least dissimilarity of
, information ; and all may have argued rightly , from wrong premises , and consequently arrived at conclusions more or less conflicting or erroneous . Clearly , if intelligent men , " so situated , could meet upon some neutral , ground , aud , in good faith , give their reasons " fox the faith that is in them , " a satisfactory determination might be arrived at by each finding that he had omitted some element perceived and used
by another , and that each yielding something , a just mean result would he found . Were it otherwise ; were the difference out of calculation , rather than of data , we should give up the reconciliation of tbe conflicting calculations as hopeless , for men will yield in matters of fact , while they will hold fast in matters of opinion ; but , as we believe it
really a matter of imperfect knowledge , making truths apparently oppose each other , we hold the opportunities for interchange of thought , provided by an Institute exceedingly desirable , as likely to solve many difficulties / There are isolated and unprecedented cases , too , sometimes appearing , which must involve some uncertainty even to the most acute and experienced , and as in " a multitude of counsellors there is
safety , " an Institute , where the point can be discussed by many competent persons , will be of great value to the offices . We do not place so much stress on the proposed examination of candidates for future fellowships , because we think that the managers of Companies are sufficiently acute and keen-sighted to see that they have value for their money , and too cautious to employ as actuary any one not
qualified to discharge the duties of the office ; and , for the same reason , we are glad to perceive that all existing actuaries are eligible , as Fellows without examination ; [ at the same time , the test is not without its value , as being likely to promote study and investigation in those who aspire to an office of great trust and responsibility . We have only to add , at present , that decided success has attended the foundation of the Institute , antl conclude with the following brief account of the proceedings at the meeting referred to .
T . he object of the meeting was to sanction the plan proposed by the Committee , appointed at a General Meeting on the 10 th June last . The following gentlemen and others were present : — Mr . Peter Hardy , F . R . S . ( of the Mutual ) in the Chair ; Messrs . John G , Auld , Colonial ; J . Berridge , Freemasons '; Swinton Boult , Liverpool and London ; Mark Boyd , North British ; W . M . Browne , Westminster and General ; Samuel Brown , Equitable ; J . Le Cappe-