Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
Analecta.
Mr . JELLICOE expressed his acknowledgments for the honour conferred upon him , and his satisfaction at seeing the Institute advanced to its present stage . It appeared to him that ! he profession of an Actuary was not held in that degree of public estimation which it was entitled to , and he believed one of the reasons to be , the profound ignorance which prevailed as to the nature and objects of their investigations . Considering the great importance of the subjects it was
their business to inquire into , and the extent of knowledge necessary for the task , he coulcl see no reason why they should not occupy a position such as that of the professors of law or physic . Nothing , he conceived , would have a stronger tendency to bring about this desirable end , than the formation of the Institute , as it would bring before the public the real value of their pursuits , and show of what wide interest and utility they had now become ; moreoverit would attach a weiht and authority
, g to their opinions of the greatest importance with reference to the societies with which they were connected , as tending to insure their proper ancl discreet management by bringing into fuller operation the knowledge and experience of their principal officers . He expressed his regret that there should be any want of co-operation on the part of some of the members of their profession . He felt quite sure that it was a want which would exist but a very short timeancl could not be
, looked upon as having any influence on their present views or ultimate objects . The PRESIDENT perfectly concurred with Mr . Jellicoe . He , twenty years ago , saw the great necessity of such an institution . The profession of an actuary had been repeatedly recognised by the legislature .
in 1819 , an Act to this effect was passed . When the legislature took into its consideration the best mode of conducting benefit and friendly societies , an act was passed for their protection , in which provision was made for the employment of competent actuaries to certify the accuracy ancl sufficiency of their rates . In 1821 he was appointed Actuary to the National Debt Office by Act of Parliament . Another act , more recently enacted that actuaries of five years' standing should certify the accuracy of the tables of friendly societies . In the committee which
sat in 1825 , the necessity of actuaries examining the tables and plans of societies for the benefit of the poor , was much insisted upon . It was fit ancl proper , therefore , that they should form themselves into a society , ancl be enabled to inform the public of the persons whom their brethren consider actuaries , on the plan adopted with so much success and public benefit by the College of Surgeons and other bodies . Every little clerk of a Savings Bank called himself an actuary , and the public
had no means of discriminating between the qualifications of the two . He had no wish to be considered a prophet , but the circumstance stated by his friend actually took place . He arrived at the opinion he had given by calculation . In a committee which sat in 1829 , on the subject of friendly societies , before whom he was examined , he stated that the rate on a medium of peace ancl war would range at four per cent ., on which Lord Althorp asked if he allowed for the less frequency
of wars in future ? He replied that he allowed nothing for the increase bf philanthropy , believing that the state of peace was nothing but a state of incapacity to make war . Tbe committee seemed astonished , and one of them ( Mr . Pusey ) asked , was war the natural state of man ? He answered , that history showed that the number of years of peace ancl of war , from any given era , were precisely equal ; and that
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
Analecta.
Mr . JELLICOE expressed his acknowledgments for the honour conferred upon him , and his satisfaction at seeing the Institute advanced to its present stage . It appeared to him that ! he profession of an Actuary was not held in that degree of public estimation which it was entitled to , and he believed one of the reasons to be , the profound ignorance which prevailed as to the nature and objects of their investigations . Considering the great importance of the subjects it was
their business to inquire into , and the extent of knowledge necessary for the task , he coulcl see no reason why they should not occupy a position such as that of the professors of law or physic . Nothing , he conceived , would have a stronger tendency to bring about this desirable end , than the formation of the Institute , as it would bring before the public the real value of their pursuits , and show of what wide interest and utility they had now become ; moreoverit would attach a weiht and authority
, g to their opinions of the greatest importance with reference to the societies with which they were connected , as tending to insure their proper ancl discreet management by bringing into fuller operation the knowledge and experience of their principal officers . He expressed his regret that there should be any want of co-operation on the part of some of the members of their profession . He felt quite sure that it was a want which would exist but a very short timeancl could not be
, looked upon as having any influence on their present views or ultimate objects . The PRESIDENT perfectly concurred with Mr . Jellicoe . He , twenty years ago , saw the great necessity of such an institution . The profession of an actuary had been repeatedly recognised by the legislature .
in 1819 , an Act to this effect was passed . When the legislature took into its consideration the best mode of conducting benefit and friendly societies , an act was passed for their protection , in which provision was made for the employment of competent actuaries to certify the accuracy ancl sufficiency of their rates . In 1821 he was appointed Actuary to the National Debt Office by Act of Parliament . Another act , more recently enacted that actuaries of five years' standing should certify the accuracy of the tables of friendly societies . In the committee which
sat in 1825 , the necessity of actuaries examining the tables and plans of societies for the benefit of the poor , was much insisted upon . It was fit ancl proper , therefore , that they should form themselves into a society , ancl be enabled to inform the public of the persons whom their brethren consider actuaries , on the plan adopted with so much success and public benefit by the College of Surgeons and other bodies . Every little clerk of a Savings Bank called himself an actuary , and the public
had no means of discriminating between the qualifications of the two . He had no wish to be considered a prophet , but the circumstance stated by his friend actually took place . He arrived at the opinion he had given by calculation . In a committee which sat in 1829 , on the subject of friendly societies , before whom he was examined , he stated that the rate on a medium of peace ancl war would range at four per cent ., on which Lord Althorp asked if he allowed for the less frequency
of wars in future ? He replied that he allowed nothing for the increase bf philanthropy , believing that the state of peace was nothing but a state of incapacity to make war . Tbe committee seemed astonished , and one of them ( Mr . Pusey ) asked , was war the natural state of man ? He answered , that history showed that the number of years of peace ancl of war , from any given era , were precisely equal ; and that