for applying the above data to the calculation of the expected number of deaths: = Let N the whole number of males or females embarking upon any given one of the three voyages, as contained in Tables A and B. Let d1, d2, .... de=the whole numbers dying on all the Australian voyages, in the 1st, 2nd, 3rd intervals of age, respectively, being the totals of the columns of Table C. 1 m 1 Let = the duration of the voyage, expressed as a fraction of a year. The number of deaths occurring among N persons during a voyage occupying th of a year being d1+da+....+de, the corresponding number of annual deaths is m(d,+ d2+.... +de) = mΣd. Let ni, no, .... m n=the numbers of persons entering upon risk, corresponding to one death per annum, in the 1st, 2nd, 3rd intervals of age respectively, according to the English Table III, as given in Table D. If the rate of mortality prevailing were that expressed by English Table III, the number of persons embarked in each interval of age would be, and the whole number embarked, mΣnd. In accordance with previous supposition, let the true rate of mortality be such that the actual numbers of persons embarked corresponding to each death in the several intervals of age are, The numbers embarking at the different ages are thus, mpnidi, mpnąd2, . . . . mpn.de, ... the sum of which, mpEnd, should equal N, the whole number embarked. By equating them we obtain the value of p, thus, Substituting the value of p in the expressions obtained for the numbers embarking in each interval of age, they become 1 n being the annual rate of mortality according to the English 1 Table III, and the corresponding rate of mortality on the nm voyage, the expected deaths in each interval of age are as follows, It will be observed that the value of the last obtained expression is dependent on those of m and n, the former of which varies with the voyage, and the latter has different values for males and females. The following tables (E and F) contain the expected mortality on each of the voyages, calculated by means of the above formulas, the values of End and m, made use of in the construction of the tables, being as follows, TABLE E.-Showing the Mortality (excluding that arising from Wrecks) prevailing among Adult Government Emigrants, on the Voyage to Australia 1847-1861, compared with that to be expected according to English Table III. Voyage. deaths Actual Excess Actual Excess Number Expected Actual Expected deaths of actual Number Expected Actual Expected deaths of actual TABLE F-Showing the Mortality (including that arising from Wrecks) prevailing among Adult Government Emigrants on the Voyage to Australia, 1847–1861, compared with that to be expected according to English Table III. Voyage. Actual Excess deaths Actual Excess Number Expected Actual Expected deaths of actual Number Expected Actual Expected deaths of actual embarked. deaths. deaths. deaths percent. It will be seen from these tables that the extra risk incurred by Government emigrants on a voyage to Australia, is caused, not so much by the danger of wreck, as by the greater intensity with which the causes ordinarily producing mortality act on a sea voyage. It further appears that the extra risk attaching to the voyage is much greater for women than for men—a result that was quite to be anticipated. The mortality on the voyage to Victoria, both among males and females, is somewhat greater than that on the other voyages. It was not considered necessary to inquire into the special circumstances to which this is due. The general result is, that the extra risk attaching to the voyage, would be covered by an extra premium of about 8s. 6d. percent for males, and 12s. 6d. percent for females. The Government emigrants among whom the above mortality prevailed were chiefly drawn from the class of artizans and agricultural labourers. The accommodation provided for them is considerably inferior to that which is generally obtained by persons belonging to the assuring classes. It may therefore be supposed that the rate of mortality found to prevail among the Government emigrants will considerably exceed that which insurance companies may expect to experience. It must be taken into account, however, that all the emigrants are select lives, being subjected to a strict medical examination to test their eligibility to receive an assisted passage; as the Colonial Governments endeavor to secure that the labor of the emigrants introduced to the colonies shall benefit them for some years. The strictest precautions are also taken by the Legislature and the Commissioners, to secure the health and safety of the emigrants on the voyage. In the case of persons proceeding to Australia in steamships, it is natural to suppose that the extra risk will be reduced nearly in the same proportion as the duration of the voyage. It is to be regretted that the Reports do not contain any information as to the ages of the emigrants embarking annually. If an analysis, on a similar plan to the analyses of mortality given for each of the voyages, but distinguishing the sexes, were given, dealing with the number embarked instead of the number dying, it would greatly facilitate such an investigation as the present; and would further enable us to state what proportion of the increased mortality occurred at each age. Even if this were not done, it is much to be desired that in the analyses of mortality on each of the voyages, the sexes were distinguished, as is done in the returns. The administration of the Passengers' Acts by the Emigration Commissioners, has enabled them to supply, in the appendixes to their Annual Reports, much interesting statistical information, which, however, from its want of completeness, it has not been found practicable to turn to account. Since the year 1854, there has been given an annual return of the ships and emigrants despatched from the United Kingdom, showing the number of vessels wrecked, and of lives lost by wreck. Had the vessels been arranged according to destination, it would have been possible to estimate the extra risk arising from the chance of wreck, which it is natural to suppose must vary considerably with the length of the voyage, and the quarter of the world to which it is made. They are, however, arranged according to port of departure only. Returns are also given of the mortality on board passenger ships proceeding to different parts of the world. As, however, we have no information as to the age or sex of either living or dying, it is impossible to state, with any approach to certainty, what the extra risk incurred on such voyages is. Report by Mr. MALCOLM and Mr. HAMILTON, Assistant Secretaries to the Board of Trade, upon the Accounts and Statements submitted to the Board of Trade, under the "Life Assurance Companies Act, 1870". (Presented to Parliament by Her Majesty's Command.) Ordered, by the House of Commons, to be Printed, 10 July 1874. To the Right Honourable the President of the Board of Trade. SIR,-In compliance with your instructions, we have the honour to submit to you the following observations upon the Accounts and Statements submitted to the Board of Trade in pursuance of the Life Assurance Companies Act, 1870. A❝ company is defined for the purposes of the Act to mean "any person or persons, corporate or unincorporate, not being registered under the Acts relating to Friendly Societies, who issue, or are liable under policies of assurance upon human life within the United Kingdom, or who grant annuities upon human life within the United Kingdom." One hundred and twenty-five such companies, excluding the branch establishments of four American companies, appear to exist in the United Kingdom; and Revenue Accounts and Balance Sheets have been received from this number since the passing of the Act. The Blue Book for the year 1873, from which the table* given in Appendix (A) has been compiled, contains the annual accounts of 120 of these companies. Of the remaining five companies who failed to deposit their returns in time for publication, the total annual income from premiums does not amount to £10,000. The table may therefore be taken as practically complete. The first column of it shows the income of each company arising from premiums for assurance and the consideration money for annuities. As the Act requires that such income should be stated, less the amount of reassurance premiums paid over to other assurance offices, the sum of these items represents the total premium income of the assurance business of British offices. This amounts to £10,824,093. The extent of the business done by the American companies with residents in the United Kingdom is not known at present. The next column of Appendix (A), gives the percentage of the working expenses of each company to its premium income, excluding considerations for annuities, as accurately as the returns permit. A reference to this column will show the very different proportions of their premium income which the different offices absorb in conducting their business. Thus, of each pound entrusted to them by the assured, some companies spend as little as 1s., others spend 2s. 6d., others 5s., others 10s., and others the whole; and a few not only do this, but get into debt, trusting to be set right by * It has been thought better for various reasons to omit the figures contained in this table.-ED. J. I. A. + Had the consideration money for annuities been included in making this calculation, the percentages would have in a few cases been somewhat reduced. Neither the inclusion nor the exclusion of this item is strictly correct, but the method adopted admits of but a very small margin of error. |