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Amount of Writings and Losses, on Vessels on Time, in the years 1830 and 1831, done at fifteen Offices.

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Writings and Losses on Vessels on Time, from 1817 to 1834, inclusive,

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Recapitulation Ships, Brigs, and Schooners, from 1817 to 1834.

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Do NOT, LIKE A FOOLISH MARINER, ALWAYS CALCULATE ON FAIR WEATHER.-Commerce, as well as life, has its auspicious ebbs and flows, that baffle human sagacity, and defeat the most rational arrangement of systems, and all the calculations of ordinary prudence. Be prepared, therefore, at all times, for commercial revulsions and financial difficulties, by which thousands have been reduced to beggary, who before had rioted in opulence, and thought they might bid defiance to misfortune.-Foster.

ART. VI.-HINTS TO THE INSURED ON THE CONSTRUCTION OF MARINE POLICIES.

INSURANCE is so intimately connected with commerce, and springs so naturally from maritime adventure, that it forms a subject of the deepest interest to the merchant, and is well worthy the profound study of the statesmen of every nation, in which commercial interests are known and fostered. The utility and importance of this species of contract in a commercial country is self-evident, and is so considered by the most distinguished writers upon commercial affairs. The millions of treasure which are now cast upon the ocean, and sent to the remotest quarters of the earth, exposed to the risks of the winds, the waves, and the frail structure in which they are transported, would be unknown and unappreciated, but for the protecting influence of this maritime contract, which gives great security to the fortunes of private people, and by dividing among many that loss which would ruin an individual, makes it fall easy upon the whole society. This security tends greatly to the advancement of trade and navigation, for as the risk of transporting goods and merchandise is diminished, men will be more easily induced to engage in extensive foreign trade, to undertake hazardous adventure, and to join in important undertakings; since their failure cannot involve them, and their families, in those ruinous consequences which would be the result in a country where insurances are unknown. It is improbable to suppose that the citizens of any nation, would embark their fortunes in enterprises fraught with so much risk as is incurred in mercantile adventure, without the aid of this indemnifying contract; and foreign commerce must necessarily be confined in its operations, and narrow in its influences, without some remedy is afforded by which the enterprising merchant can feel secure in ultimately obtaining at least a portion of those riches with which his ship is freighted.

From the great importance of insurance in creating a spirit for foreign adventure and mercantile enterprise, it is natural to suppose, that it was early ingrafted into the system of maritime laws and regulations, which prevailed in ancient periods of the world; but in looking back upon the history of the ancient maritime states which have existed, we find that insurance was unknown, and that it is comparatively of modern invention. The origin of the contract is somewhat uncertain, and the honor of its introduction has been claimed and insisted upon by rival nations, each eager to acquire the distinction which the creation of so important an agent, for the advancement of commercial enterprise and prosperity, would confer upon the founder; and the time when this contract was invented is equally involved in doubt and obscurity. But it is evident that wherever foreign commerce was introduced, insurance must soon have followed as a necessary and indispensable attendant, it being impossible to carry on any extensive trade without this protection, especially in time of war. Some writers have ascribed the origin of the contract of insurance to Claudius Cæsar, the fifth Roman emperor; but if it originated at that time, it was but imperfectly known and appreciated, and bore but a faint resemblance to the form it has now assumed; and from the fact that we find it extremely difficult to determine whether such a contract then really existed, it must have been quite ineffectual and seldom used. Other authorities have given the Rhodians

the credit of its invention, thus establishing a foundation for the idea entertained by many, that the law of insurance had been incorporated into most of the ancient codes of maritime jurisprudence. But it is extremely doubtful whether this people entertained even the slightest idea of the contract of insurance, as it exists at the present day. This country stood first among the nations of antiquity, not only for the richness of its extended commerce and the strength of its naval power, but it was here that the first legislators of the sea flourished; and it was by this people that the most ancient system of marine jurisprudence was promulgated, to which even the Romans themselves paid the greatest deference and respect, and which they adopted as the guide of their conduct in naval affairs; and these laws not only formed the rule of naval action to the ancient maritime states, but in reality have been the basis of many important regulations now in force respecting navigation and commerce; but notwithstanding the wisdom evinced in the creation and compilation of these laws, and the universality with which they prevailed, nothing can be discovered from the fragments which have reached us, to warrant the belief that these islanders were acquainted with insurance as a mode of securing their property. It is true that the laws of the Rhodians have descended to the present age in a very imperfect state, and there may have been many provisions incorporated into their system of jurisprudence, of which we are in ignorance; yet it is more than probable that so important a feature in their marine regulations, would have been transmitted to us, if any such had existed.

The states of ancient Greece, particularly Corinth and Athens, paid great attention to the promotion of commercial knowledge, and to the creation of a code of maritime laws calculated to encourage foreign adventure, and to inspire their people with a spirit of mercantile enterprise; and the many valuable and liberal laws which they originated relative to imports and exports, and the contract of bargain and sale, the many privileges granted to the mercantile portion of their citizens, and the appointment of judicial officers to settle and adjust marine controversies, impress us with a very favorable idea of their knowledge of the true principles of commerce; but not the slightest information can be found in their history, which would lead us to suppose that they were acquainted with insurance.

A glance at the commercial and maritime history of the Romans, is sufficient to make it appear that they were equally ignorant of the contract of insurance, as the nations of ancient Greece or the Rhodians; and from the continued warfare in which they were engaged, it cannot be supposed that they would pay as much attention to the perfection of a maritime code of jurisprudence, as many of the countries existing around them.

From the best authorities that can be found, it is supposed that the contract of insurance was first invented by the Lombards in the thirteenth century; and as the Italians were at that time engaged in an extensive trade with foreign countries, and carried on a rich traffic with India, it is but reasonable to suppose that in order to support so extended a commerce, they would introduce insurances into the system of their mercantile affairs. It is true, that there is no positive and conclusive evidence, which would create a foundation for the assertion, that they were the inventors of this kind of contract; but it is certain that the knowledge of it came with them into the different maritime states of Europe, in which parties of them settled; and when we reflect that they were the merchants, bankers, and carriers of Europe, it is not unreasonable to presume that they also led the way to the

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