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Tontine
A tontine () is an investment linked to a living person which provides an income for as long as that person is alive. Such schemes originated as plans for governments to raise capital in the 17th century and became relatively widespread in the 18th and 19th centuries. Tontines enable subscribers to share the risk of living a long life by combining features of a group annuity with a kind of mortality lottery. Each subscriber pays a sum into a trust and thereafter receives a periodical payout. As members die, their payout entitlements devolve to the other participants, and so the value of each continuing payout increases. On the death of the final member, the trust scheme is usually wound up. Tontines are still common in France. They can be issued by European insurers under the Directive 2002/83/EC of the European Parliament. The Pan-European Pension Regulation passed by the European Commission in 2019 also contains provisions that specifically permit next-generation pension prod ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richmond Bridge Act 1773
Richmond Bridge is an 18th-century stone arch bridge that crosses the River Thames at Richmond, London, Richmond, connecting the two halves of the present-day London Borough of Richmond upon Thames. It was designed by James Paine (architect), James Paine and Kenton Couse. The bridge, which is listed building, Grade I listed, was built between 1774 and 1777, as a replacement for a ferry crossing which connected Richmond town centre on the east bank with its neighbouring district of East Twickenham to the west. Its construction was privately funded by a tontine scheme, for which toll bridge, tolls were charged until 1859. Because the river meanders from its general west to east direction, flowing from southeast to northwest in this part of London, what would otherwise be known as the north and south banks are often referred to as the "Middlesex" (Twickenham) and "Surrey" (Richmond) banks respectively, named after the Historic counties of England, historic counties to which each ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richmond Bridge, London
Richmond Bridge is an 18th-century stone arch bridge that crosses the River Thames at Richmond, connecting the two halves of the present-day London Borough of Richmond upon Thames. It was designed by James Paine and Kenton Couse. The bridge, which is Grade I listed, was built between 1774 and 1777, as a replacement for a ferry crossing which connected Richmond town centre on the east bank with its neighbouring district of East Twickenham to the west. Its construction was privately funded by a tontine scheme, for which tolls were charged until 1859. Because the river meanders from its general west to east direction, flowing from southeast to northwest in this part of London, what would otherwise be known as the north and south banks are often referred to as the "Middlesex" (Twickenham) and "Surrey" (Richmond) banks respectively, named after the historic counties to which each side once belonged. The bridge was widened and slightly flattened in 1937–40, but otherwise stil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tontine Coffee House
The Tontine Coffee House was a coffeehouse in Manhattan, New York City, established in early 1793. Situated at 82 Wall Street, on the north-west corner of Water Street,Nathans, p. 133 it was built by a group of stockbrokers to serve as a meeting place for trade and correspondence. It was organized as a tontine, a type of investment plan, and funded by the sale of 203 shares of £200 each. The May 17, 1792, creation of the Buttonwood Agreement, which bound its signatories to trade only with each other, effectively gave rise to a new organization of tradespeople.Sobel, p. 21 History In its prime, the Tontine was among New York City's busiest centers for the buying and selling of stocks and other wares, for business dealings and discussion, and for political transaction.Antol, p. 53 Having had a dual function as a combination club and a meeting room, the coffee house played host to auctions, banquets, and balls, among others. After hours, gambling and securities dealings were ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lorenzo De Tonti
Lorenzo de Tonti (c. 1602c. 1684) was a governor of Gaeta, Italy and a Neapolitan banker. He is sometimes credited with the invention of the tontine, a form of pension, although it has also been suggested that he simply modified existing procedures. Around 1650, his wife, Isabelle di Lietto, gave birth to their first son, the future explorer Henri de Tonti. Shortly afterwards, Tonti was involved in a revolt against a Spanish viceroy in Naples and had to seek political asylum in France. Their second son, Alphonse de Tonty, was born in Paris and later helped establish Detroit, Michigan. For reasons unknown, Louis XIV had him imprisoned in the Bastille from 1668 to 1675. Around 1684, he died in obscurity of unknown causes. References External links * "The Great Tontine Gamble", one of a series of articles by Burton J. Hendrick appearing in ''McClure's Magazine ''McClure's'' or ''McClure's Magazine'' (1893–1929) was an American illustrated monthly periodical popular at t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Method Patent
Business method patents are a class of patents which disclose and claim new methods of doing business. This includes new types of e-commerce, insurance, banking and tax compliance etc. Business method patents are a relatively new species of patent and there have been several reviews investigating the appropriateness of patenting business methods. Nonetheless, they have become important assets for both independent inventors and major corporations. Background In general, inventions are eligible for patent protection if they pass the tests of patentability: patentable subject matter, novelty (patent), novelty, inventive step and non-obviousness, inventive step or non-obviousness, and industrial applicability (or utility (patent), utility). A business method may be defined as "a method of operating any aspect of an economic enterprise". History France On January 7, 1791, the French revolutionary National Constituent Assembly (France), National Constituent Assembly passed a pate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kampen, Overijssel
Kampen () is a List of cities in the Netherlands by province, city and List of municipalities of the Netherlands, municipality in the Provinces of the Netherlands, province of Overijssel, Netherlands. A member of the former Hanseatic League, it is located at the lower reaches of the river IJssel. The municipality of Kampen had a population of in and covers an area of . Kampen is located in the North West of Overijssel and is the largest city in this region. The city of Kampen itself has around 37,000 inhabitants. Kampen has one of the best preserved old town centres of the Netherlands, including remains of the ancient city wall (of which three city gate, gates are still standing) and numerous Church (building), churches. Also notable are the three bridges over the IJssel which connect Kampen with IJsselmuiden and Kampereiland, the agricultural area between the branches which form the IJssel delta, and a windmill (''d' Olde Zwarver – ''the Old Vagabond). Since November 2018, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Armstrong Investigation
The Armstrong Committee, formally the Joint Committee of the Senate and Assembly of the State of New York to Investigate and Examine into the Business and Affairs of Life Insurance Companies Doing Business in the State of New York was a committee established by the New York State Legislature in late 1905 to investigate life insurance companies operating in New York. The investigation culminated in a report which highlighted questionable practices in the insurance industry, and made several recommendations of changes to be made. The committee conducted 51 investigatory sessions and its recommendations were incorporated into eight New York State statutes. One recommendation adopted in New York and several other states was a restriction on policies with lengthy deferred payouts, including the 19th century version of tontines.''Evolving Financial Markets and International Capital Flows: Britain, the Americas, and Australia, 1865–1914'', Lance E. Davis and Robert E. Gallman, p 286 A p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bath Assembly Rooms
The Bath Assembly Rooms, designed by John Wood, the Younger in 1769, are a set of assembly rooms located in the heart of the World Heritage Site, World Heritage City of Bath, Somerset, Bath in England which are now open to the public as a visitor attraction. They are designated as a Grade I Listed building (United Kingdom), listed building. During the Georgian era Bath became fashionable, and the architects John Wood, the Elder, and his son laid out new areas of housing for residents and visitors. Assembly rooms had been built early in the 18th century, but a new venue for Ball (dance), balls, concerts and gambling was envisaged in the area between Queen Square (Bath), Queen Square, The Circus, Bath, The Circus and the Royal Crescent. Robert Adam submitted a proposal that was rejected as too expensive. John Wood, the Younger raised funding through a tontine, and construction started in 1769. The new or upper assembly rooms opened with a grand ball in 1771 and became the hub of fa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Longevity
Longevity may refer to especially long-lived members of a population, whereas ''life expectancy'' is defined Statistics, statistically as the average number of years remaining at a given age. For example, a population's life expectancy at birth is the same as the average age at death for all people born in the same year (in the case of Cohort (statistics), cohorts). Longevity studies may involve putative methods to extend life. Longevity has been a topic not only for the scientific community but also for writers of Hyperborei, travel, science fiction, and utopian novels. The legendary fountain of youth appeared in the work of the Ancient Greek historian Herodotus. There are difficulties in authenticating the longest human maximum life span, life span, owing to inaccurate or incomplete birth statistics. Fiction, legend, and folklore have proposed or claimed life spans in the past or future vastly longer than those verified by modern standards, and longevity narratives and unverif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lottery
A lottery (or lotto) is a form of gambling that involves the drawing of numbers at random for a prize. Some governments outlaw lotteries, while others endorse it to the extent of organizing a national or state lottery. It is common to find some degree of regulation of lottery by governments. The most common regulations are prohibition of sale to minors and licensing of ticket vendors. Although lotteries were common in the United States and some other countries during the 19th century, by the beginning of the 20th century, most forms of gambling, including lotteries and sweepstakes, were illegal in the U.S. and most of Europe as well as many other countries. This remained so until well after World War II. In the 1960s, casinos and lotteries began to re-appear throughout the world as a means for governments to raise revenue without raising taxes. Lotteries come in many formats. For example, the prize can be a fixed amount of cash or goods. In this format, there is risk to the org ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
River Thames
The River Thames ( ), known alternatively in parts as the The Isis, River Isis, is a river that flows through southern England including London. At , it is the longest river entirely in England and the Longest rivers of the United Kingdom, second-longest in the United Kingdom, after the River Severn. The river rises at Thames Head in Gloucestershire and flows into the North Sea near Tilbury, Essex and Gravesend, Kent, via the Thames Estuary. From the west, it flows through Oxford (where it is sometimes called the Isis), Reading, Berkshire, Reading, Henley-on-Thames and Windsor, Berkshire, Windsor. The Thames also drains the whole of Greater London. The lower Reach (geography), reaches of the river are called the Tideway, derived from its long Tidal river, tidal reach up to Teddington Lock. Its tidal section includes most of its London stretch and has a rise and fall of . From Oxford to the estuary, the Thames drops by . Running through some of the drier parts of mainland Bri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
