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cultivation of the French lauguage ; but this was differently accomplished, owing
to the iiitermeddliiig of the coort. which arrogated to itself the right of directing
the pnl/lic taste. Many of the judgments of this Academy were strangely errone-
ous— e. g., Its rejection of the **Cia'' of Conieiile, and Its refusal to admit Molidre,
Boihmn, and La Hmyere as members. The Academy was intrusted with the pre-
uaratiou of a Diciiouary of the French language ; but the merits of this work have
been much disputed, and the plan of it generally condemned.— The taste for devi-
ces, inscriptions, and medals, which prevailed in the 17th c, snggei'ted to Louis
XIV. the foundation of the Aoadintis des £n$eriptioHi in I608, for the immedbte
object of examining his collection of medals ana other antiquities: but the Abb6
Blgiion, superintendent of the Royal Library, secured its perpetuation, with an ex-
tension of Its field of labor, as the Aeaddmte RoyaU das Intcriptuma et BeU»4ettrM,
nndor wliich designation it met for the first time 16th July 1701.— The third Acade-
my in order, and at present the most distiugnlBhed scientific association in tho
world, tlie Aeadimie BoyaU dei Sciences, was rounded by Colbert in 1666, remodelled
by Bi^niou in 1699. and further enlarged in 1785.— The painter Le Bmn foiHided
in 1648 an Aeadimie de Ptinture, for which he obtained a charter in 1666: and io
1664, Colbert remodelled and established it hS the Aeadimie Rowde de Petnture el
Sculpture.— An Aeadimie lioyale d*Arehitc<^ure was also fouud^.

All these Academies were suppresned by an edict of tho Convention, 8th An^nst
1798 ; but on S5th October 1795, the Directory established a great national associa-
tion, for the promotion of tho arts and sciences, called the ** Institnt NatlonaL" It
was at first divided into three cinsses — viz., Sciences Physiques et Math6matiqaes ;
Sciences Morales ct Poiltiqnos ; Sclenc<*s de Litt^ratnre et Beuux-Arts ; bnt on the
suppression of the second class by the First Consul in 1803. the remaining rlanron
were re-arranged as follows : Sciences Pbysloues et Math^matiqnes ; LAngae et
Littdratnre Fi-anoaim; ; Histolrcet Lltt^rature Ancienne; Beaux •Arts; and tbis ar>
raugement continued during tlie Empire. On Sist March 1816, a royal ordinance
commanded that tho four classes should de replaced by four Academies, but the
g<>n(*ral title. *' Institute of France,*' was retained, being modifit*d by the epithet
** Royal,** ** Imperin V or ** National," in harmony with the political changes in
Fmi^. Since 1870, it Is, of course, the fnetitut National, The four Academieaare— 1.
V Aeadimie Francaiee; 9. L'Acadhnie dee Ineeriptiont et Beilee-iettne ; 8. l/Aea~
dSmie dee Scieneee ; 4. L^ Aeadimie dee Beaux- Arte; and an ordinance, bearing data
'i.ath Octobt*r 1882. re-established the old second class as a fifth Academy, VAcadS"
mie dee Seieneee Moralee et PoUtiqriee^ and this organisation stjil subsists.

Bach Acodemv has its own independent government, and the free disposition of
the funds allotttm to It, an agency and secretaries ; the library and the >'alnable col-
lections of the Institute are common to the five ; the common fond is managed by
a conimiltee of ten members (two from each Academy), under the presidency of the



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979



Xnstftato



Minister o# Pabllc InfltmoMon. Menibcni are elected by banot, the election reqnf r-
Idc; to be coiiflrined by govemmeiitv and raembers of one Academy may he elected
an niembera of aoy or lul of the otiier four. Bach member Uaa an anoiial salary of
1600 fraucs, and the aecretariea have 6000. Bach member abo receives a napoleon
for eacli meeting of the Academy at wliich ho is present, bnt is liable lo a fine if
nbsent for a whole year, or to expalpfon for a prolonged absence without sufficient
cunse shewn. Each Academy moets once a week for two hours ; each has al<« one
public annual sitting; and on 15th Anenstt there is general public meeting of
the whole five. Ail tlie Academies, with the exception of the tLrvU have a certain
number of aeadimiciena libre*^ asuoeiis Hrangers, eorrespondants ; the **acad6n)i-
cicns libres" have only the right of attending the meetings of Hie Acaderov; tiie
** associ^B Strangers " ure foreign members. The foliowim; table gives the f uU com-
plement of members and correspondents for each Academy:



Tl, Academie Fraofaise

%. ** des Inscriptions et Belles-lettres...

8. »* desSciencee ,

4. «« des Beaux- Arts ,

6. ** des Sciences Morales et PoUtiqties.



40



296



r



S6



8
8
10
6



RO
100
40
46



Among the amneU» itranger$ in 1874, there were in the 2d Academy, Professor Max
Hfiller: in tlieSd. Professors Owen, Airy, and Wheatstone; ana in the 6tb, the
Bight IIou. W. B. Gladstone and the Kigtat Hon. Barl Stanhope. Of corres-
pondents, Mr Thomas Wright belonged to the 2d, as did also Sir H. Bawlinion,
Mr Layard, and Dr John Muir of ICdinbargli. Late correspondents with the
various academies were Professor Faraday, Sir D. Brewster, Sir J. W. Her-
schel, Lord Brougham, Mr M'Culloch, Mr Qrote. and Drs Whewellsnd Whatoly.
The Aeadimie FraneaOte occupies itself with debates on grammar, rhetoric,
poetry, and French literature in general, and its great work is the preporatiou
and continnal improvement of a dictionary of the French language. It nas the dis-
posal of two prices of 10.000 francs each, one of 2000 francs, and every alternate year,
a sum of 1500 francs to be befitowed on meritorious authors in poor circumstances.
The Aeadimie dea In»eript*on» et JSelles-leUres has for its subject history in its most
comprehensive sense. Including chronology, geography, numismatology, and ttio
rtndy of monuments of every kind, and of tne languages of all nations at all tiincp.
It has In Its gift a prise of 2000 francs, and another for numismatology. The Acad-
hnie de9 Seieneea has for Its subject statistics, pure and mixed mathematics, medical
Bcieiice, £c; and has the gift of eleven prixes, several of which are of 10.000 francs ;
ail are annual with the exception of one, which is decennial. The Aeadimit de»
Beaux- ArU occupies Itself with painting, sculpture, architecture, engraving and
music ; and with the preparation of a dictionary of the fine-arts, and alternately with
the first Academy, distributes the sum of 1500 francs among poor meritorious authors.
The Aeadimie dee Sciences MoraJeeet Politiquee discusses mental philosophy, law and
jurisprudence, political economy and statistics, general and philosophical history,
and politics, aaministration nud finance, and has the gift of two prises— one decen-
nial, the other quinquennial. There is also a Bordiu prixe in the gift of each
Academy, aud two general pria e a one annual, the other triennial— in the gift of the
Institute.

Bach year a sum is voted by the French government for the general fund of the
Institute, and from this fund are paid the allowances of members, salaries of the



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CHAMBERS' ENCYCLOPEDIA



lastttutes Ofin

Inranmce ^^^

accretariea and oUitr officials, and aoTend prises; alio tzpeiimenta, printlBg^

INSTITUTES is the name ^ven to the elementary treatise on the Roman or civn
law. See Law, Roman, Civil.

INSTITU'TION, lu Church Law. means the final and anthoritative appointment
to a church benefice— more especluliy a bishopric — by the pei-aou with whom snch
rieht of appoiutmeui ultimately rests.' Thus, In the Roman Catholic Chnrcb— evtm
nfter tlie ** election " of a bishop by tlie chapter, or his ** nomination " bjr the crown,
when that right l>eloug8 to the crown — it is only the pope who confers " lustltntion-'*
In English nsai<;e, Institution Is a conveyance of the cure of souls by the bishop,
who, or whose aepnty, reads the words ot the institution, while the clerk kneew.
The institntion vests the benefice in the clerl^ for the parnose of spiritual duty,wt>o
Iheroniiou becomes entitled to the profits thereof. But tne title is not complete till
luduciiou (q. v.).

I'NSTRUMENT. in point of law, is scarcely a technical term, though it is fre-
quently used hi England as descriptive of a will or testamentary writing— and often
uny document not under seal. In Scotltiud, on the other hand, it is usimlly descrip^
tivo only of a notarial instrument.

INSTRUMENTA'TIONis the arranging of music for a combined number of
Instruments. The nature and character of the musical ideas must alone detennine
whether the instrumentation shall be simple or artistic, and perhaps complex ; the
latter being the case when some of the instruments take a more prominent pan
than others. For both purposes, a thorough knowledge of every instrument in the
orchestra is absolutely necessary, as witlK>nt this, instrumentation becomes only a
deafening mass of sounds. The stringed iustmmenta, from their nature. In most
csiaes, form the prlnciixtl parts of a seore, around which the other iustrumeuta
move, without depriving tnem of their importance. The wind instruments rep-
resent, more or less, as ii were, a subordinate chorus, which may again be divided
into two kinds, viz., the wood instruments and the brass, which, with the stringed
instruments, give three essentially different chonil effects, that may be mixed np
togetlier in eiidless variety. A knowledge of the art of instrumentation is only to
be acquired by great experience * at the same time, much may be learned by con-
sultinff the following works: "Die Instrumoutirung fQr das Orchestra," von A.
Sundelin, published in Berlin by Wagenffihr ; and Dr Joseph Fr0hlich*8 ** Sys-
temati»cher Unterricht in den vorzikglicbsten Orchesterinstrumonteu.

INSTRUMENTS, Musical, mny be divided Into three classes— stringed, wind, and
percussion. Stringed Instninients are of three kinds: those whose sounds are pro-
duced by friction, as the violin, viola, violoncello, <fcc. ; by twitching with the finger
or otherwise, as the harp, guitar, muudoliue, &c ; by striking, as the pianoforte
and dulcimer. Wind instruments are of two kinds, viz., the reed sm^cios— as the
hautboy, clarionet, &c.— and the flute species, as the flute, flageolet, &c The
trumpet, horn, trombone, and all similar wind instruments, are generally clashed
among the reed instruments; but whether the sound is produced by the lips of the
blower acting as a reed, or by the compressed stream of air, as In flute iustrumenta,
is not yet determined. Percussion instruments are those which on being strndc
produce only one fixed sound, as the drum, triangle, cymbals, tambourine Ac
Wliatcver material may be used to form a miisical instrument, there are only two
nit'uus of producing musical sounds, and these are by the vibrations of a fixed
elAittic body, ^nch us the string of tlio violin or pianoforte, ttte reed of the hautboy,
bsissoon, &c. ; or by the vibrations of a confined column of air put into motion by
a stream of compressed air, as lu the flute, flageolet, and all the ordinary flute
species of organ-pipes.

I'NSUCKEN MU'LTLTtES in Scotch Law, mean Uie payments made to the
miller by persons who are bound to grind their corn at a particular mill, under a ser-
vitude called Thirlage (q. v.). Outsucken multures mean the payment for the ,
grinding, which stningers pay; and the insuckeu multures include tliat|>2ai«a f
premium which goes to the proprietor of the mill.

INSU'RANCE, a contract of indemnity, whereby one party, in consideration of



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981



Institntes
lusuranoe

a R)ecffled payment, called a " prcmlam,*' nndertakes to gnarantee another agaioat
rlak of loss. The first priDcipJes of insurance would appear to have beeu acted on
at a very early period, since, without attaching uudne importance to the opin-
lona of writera who contend, on the anthority of Livy, Uiat they were known dnr-
ing the aecotid Pnoic war, or that the Emperor Claudius can ha considered an in-
surer, because, in order to encourage the imporatiou of corn, he took all the locw or
damage it might sustain upon himself-— there ureyetextAnt rulea of sundry ''guilds,'*
or social corporations of the Anglo-Saxons, whereby, in return for certain fixed con-
tributions, the members guarantee each other againat loss from "fire, water,
robbery, or other calamity.** It was, however, to cover maritime caauul-
tleff that insurance, viewed in its commercial aspect, seems to have
been first undertaken. 80 early as 143S, the ma^st rotes of Bareeloua
Issued nn ordinance relating to this cla<)s of onsiuess. ana we find in tiie tpeech
of the Lord Keeper Bacon, on opening' Queen EIiKa1>eth*8 first parliament, the ullu-
slon, ** doth not the wise merchant, m eveij adventure of danger, give part to have
the rest assured.** The merit of being the firA to apply matliematical calculations
to the valuation of human life belongs to the famous John de Witt, pensiouary coun-
sellor of Holland, whoso Report to the States-general, on the valuation of life an-
nuities, has been lately brought to light by Mr. Hendriks. The first insurance
company established in Britain appears to have been the *' Amicable," founded in
1006: not the ofllce known by tnat name now, but the one that still exists as
the ** Hand in Hand." On)itting the gambling and other objectionable projects for
which the science of insurance has been held responsible, it would exceed tlie limits
of the present article to give any detailed account of even the more legitimate ap-
plications of it which are current at tlie present diiy : the traveller can be protected
from the pecuniary loss entailed from damage by lail or flood; the gardener fpom
the devastation of the hailstorm : the farmer from the inroads of disease among iiis
cattle; and employer and employed alike reap the i)eneflt of a guarantee on fidelity.
126 established life ofllces witiiin the United Kingdom appeared in an aca'editcd liRt
published in 1874, and although there were, besides, 66 winding up in Chancery,
there ia an amonnt of ooufidence to be placed in the stability and integrity of the
Sjeater Dumber existing, that cannot be exceeded in any other commercial interest.
We propoeo confining oar remaining remarks to the divisions of fire, life, and ma-
rine iusnrance. .

1. i^trs /fiMfmna&'^Aithough the business of fire Insurance Is not founded upon
sucii exact data as can be made avaihihle in the practice of life insurance, yet con-
siderable progress has l)een made by the oflSces towards a correct clHi>siflcntion of
the rislur they run, and the ratea of premium mnge by slight graidations from a min-
imum of 1«. 6d. per cent., which covers an ordinaiy private dwelling-hon8c% to £8,
8a. percent, and upwards, charged for insnrhig cotton-mills, sugar-refineries, then*
ires, and like specnilly hazardous risks. The average rate of premium received for
risks In the United Kmgdom may be estimated at 4«. per cent. A duty of Zs, per
cent, per annum used to he levied l)y government upon all fire insurances, except
farming-stock and public hospitals, and the parliamentary returns made of it af-
forded valuable statistical information of the total amount Insnred. The duty paid
tn the year 1860 amounted to jCI, 568.608, tepresanting a gross amount insured ov^:r
the veur of Xl,08»,072,140 : and farmliig-stock, jC78,8TO,898. Since the repeal, in 1869,
of tlio act which levied a duty upon fire insurances, no data remain for estimating
the total value of those now effected in this country. The •*Life Assurance Com-
-lany's Act, 1870,** provided only for the publication of the accounts of such fire of-
Lce« as do life businefls also. The local returns made to the Board of Works, upon
which to estimate the ooiit#butions of the companies for the maintenance of the lire
brigade, afford incidentally an interesting proof of the wealth of the metropolis, and
of the magnitude of its business operations. Over tlie area mentioned, which ejc-
cludes the Important warehouses of the Victoria Docks, the retunis exhibited by the
resident oompaniee of insurances for 1878 shewed a total value of property covei*cd
of upwards of £488,600,000. Fire insurance policies are of too familiar use to re.
quire explanation here, but one point in connection with them maybe noticcid;
tmlike a marine policy, they guarantee the insured to the extent of the whole amonnt
specified In thom, without regard to the excess of value of the entire pro])erty be-
fore the fire, unless an exceptional '* average clause " ia attached to the policy.



fit



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lasuranot



982



S. Lif^ Awtiranett in Its widest sense, is a contract entered into bj tlie
to pay a certnin t)cneflt coutiiiffeut npon the doratlon of one or more llTes.*



The



**preMnt Taliie'^or tiogloprenuum correspoiidiug to an a«earaiicoof XI. payable
at the end of the year of death of an individaal, is deduced from the ▼aloe of an
aniinity on the same life (eee Akkditt), and is expret(f>ed by the formula © — (1 —
V) Ax, where v is the sum which will amount to XI in one yt^r (tbervfore equal to

, r being the interest of Xt for a year), and A« is the value of an annuity of

1-f- r

XI per annum on the life aged 9.

The more common form in which a life assurance is carried out is, howerer, by
the payment of an annual premium to the company assuring, and this is deteiw

mined (using the same symbols as above) 4>y the formula (t — v>. The

1 + Ax
truth of which ia thus demonstrated in a popular form by Mr Grey. The present
value of an ** immediate *' annuity on a life aged x-A, e., of un annuity of which the
Irnt payment fnlls to be made at the commencement of the transaction — being
1 -h Ax, it is easily deduced by proportion that £1 will purchase an Immediate an-
nuity of , the reciprocal of the first value ; and this would be the proper prs-

1 -}- Ax
mium for the l>cneflt If the latter were paid to the assured at the banning of Uie
first, and not at the end of the last year of the duration of the poUcy ; but inas>
much as the benefit is not paid until the close of the stipulated period, the differ-
ence between its immediate value and its value If due a year hence (t — v) lias to
be deducted from each year's premium, and the formula ia the result

The three important elements that have to be taken into aooonnt in the coicala-
tion of office premiums are— the rate of interest which is to accrue from tbeir in-
vestment, the mortality returns with which the future experience of the insured is
expected to agree, and the proportion or ** loading " to be added to the ntt rales to
meet expenses of management, and afford a prolu to the Inaursr. The rate of 8 per
cent, has with a very few exceptions, been adopted as a basis for such calcalatioos,
as the nearest to what can be expected to be realised on good .secniity for trausac-
tions extending over many years. The mortality table most geoeralhr in use is tliat
originally published by 3ir Milne, derived from the observations of Dr Heystwm on
the rate of mortality in Carllale during the nine yean 17T9 to 1787 hMdnsive, and
hence known as the Carlisle Table. This, however, is now being snpenedid by the
mortality experience of life assurance companies, collected by the Institateof Actu-
aries, and published in May 1869. exhibiting certainly the roo«t correct standard of
assured life in this country, and poaaessing by reason of the great skill with which
it has been graduated, a complete adaptation for all practical purposea.

The following are examples of ntt premiums calcuUted on the Institute data:

aiHeiJB AND ANNUAL PRBMIUMS TOB ABSV&ANOB 07 X100, FOB WHOLB OV UVB—
INBTITUTB TABUS Hm. 3 PKB CBNT.



Age.


Single Pr»mium.


Annual Prem.


Age.


Sini^e Premium.






X «. d


X a. d.




« a. d.


X s. d.


«


83 17 9


18 7


46


61 18 6


S f t


25


86 16 8


lis 6


60


66 19 8


8 16


80


89 4 6


1 17 7


55


61 17 S


4 14 6


85


4S 19


S 8 10


60


67 6 6


6 If f


40


47 1 8


8 11 9










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983

0INOLB AXD AITKUAL FBEMIUXS FOB AMURAMOB OV iflM, rOB.WBOLB OV UFB—
OABUSLB, 8 rSB OBBT.



Age.


Single Pr'mfuin.


AnuaAl Prem. |


Age.


Single IVraiam.


Annnal Prem.




£ B, d.


X *. d.




X «. d.


£ B. d.


*>


88 IT \^VC


1 8 10)^


45


60 17 8)^


8 41^


96


86 IT \0}i


1 U 0?^


60


66 8 7K


8 18 63i


80


40 8 6


1 18 Oji


65


60 18 -*


4 10 lOX


85


48 T UV


2 4 8


60


66 10 1M,


6 15 9X


41b


4T 8 «


« 11 iiisx !









The qnestioQ of tlie nddition to be made to pocli (uet) preminnis is liiflnenced by
differ«ut couBlderatlouB bavlnir regard to the practice of the ofHce nsingthe tiible.

AMDrancc companies are divided into three classes : 1. Proprietary CompanUB,
being those offices possessing a capital the property of the partners, and which, iu
addition to the accaniulatcd prcminms, Is pledged to the policy-holders as a guaran-
tee for the falfilmeut of their claims. As the liability in such companies is limited
to the net snms assured, the addition made to the premiums requires to be only
snch a proportion as will cover the actual ontlay for management, and remunerate
the sliareholders for the rists of losswUich they run by fluctuation In the mortality,
or from bad inyestments. A comparison of the above premiums with the ** nou-par-
ticlpntion " rates usually odvertised, will shew that the prevnlling competition has
induced the constmctlou of tables very favorable to the public 8. Mutual OJ/iees^
where the members themselves constitute the company, being liable to each other
for all claims. Here, iu the absence of a capitiU. it is usual to adopt a scale of pre-
miums Icnown to be in excess of wiiat is required to meet the sums insured. The
profit arisiuff therefrom is periodically ascenaiued, and allotted to the assured, most
freqnently fn the form of *' bonuses" or additions to the claims payable under the
polfciefl. Some companies doing a large business are of this class, and in |)oint of
stability and irreproachable management bear the highest character. 8. Mixed Com*
vanitB are proprietary companies charging such increased rates as will yield a bonus,
oat which, iu return for the espouses of management and guarantee of their capital,
reserve for their proprietors a stipulated proportion of the profits.

It wonld be beyond our province to deal with the comparative merits of these
systenos ; nndonbtedlv, offices in which the assured participate in a part or the
whole of the profits, nave for some years back enioyecl the larvest*share of public
support. Life-assurance, in the abstract, is certainly one of tlie greatest blessings
of modern times. The extent to wldch It has l)een made available may be judged
from the fact, that the total snm, including vested IXMiuses, for which the rxlvtTng
offices are liable Is above £348.000,000 sterling: the annual premiums payable,
therefbre, being al>ove ten milllona— a sum equal to one-eeventti of the net public
revenue of tbeXTnited Kingdom, or nearly half of the entire Customs duties.

A greatly increased facnity for making the necessary calcnlattons In connection
witli life-assurance has been developed within the last few years by the use of
" Uommntatiou Tables," the invention of Mr George Barrett, and of which a large
collection, calculated by Mr.D. Jones, is published by the Socletr for tlie Diffusion
of Useful Knowledge. For the best information on tlieir consurnctton, and other
fominlse. the reader Is referred to the standard works of De Morgan, Gray, Milne,
and the transactions of the lustitate of Actuaries, published quarterly. See Post-

OFFICB iNStTRANCB.

8. Marine /nsumruv.— Although this branch of the subject does not possess such
a general interest as the preceding, It is one that reqnirea quite as great nu amount
01 study and experience to insure its successful prosecution. In estimating the rate
Of preininro, the insurer has to take Into account not only the quality of the vessel
covered, but the season in which she sails, the known character of her captain, the
natore of the commodity carried, and (the contract being an Indemnlflcatlon both
against the elements and the enemy) tlie state of our political relations. Never-
nieless, losses at sea, like other Incidents, are observed to follow certain laws, and if
the average from which the valae of the risk is deduced ia of sufllciently broad basis.



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