An Enquiry, Whether it be the Interest of the City To Insure Houses from FIRE; And whether the Insured may expect Any Advantage thereby, more than from the Insurance-Office already settled.  
THE Persons concerned in the Insurance Office for Houses, are well Satisfied in the Wisdom and Justice of the City of London; therefore do not believe any Act of theirs will prejudice a design so much for the public Benefit of the City; and are persuaded( however their Councils seem now to be influenced) that their Maturer Deliberations will not, for the present, interrupt the Prosperity of their Settlement: But that they may enjoy, if not Fourteen years Sole possession allowed by the Wisdom of Parliament for an Encouragement, to the first Inventors; yet such time, till the profit of the undertaking, make it appear worth their imitating.  
But because Private Interests do sometimes govern public Councils, contrary to their Wise and natural results, for want of a true information of the Subject they debate: And lest that the Publication of the Cities intention to Insure Houses should be Prejudicial to some, who either out of Respect to them, or hopes of Easier Terms, so long Delay their Insurance till their Houses are unfortunately Burnt. It was therefore thought necessary, for the satisfaction of the City, and all that have concern in Houses, to have this matter fairly Debated, and Examined how far it may be the interest of the City, to engage in this Affair: And whether there are not probable Reasons to believe, that the City may( as Parliaments and Wise Assemblies often do) upon a Second Debate, alter th●●● Intentions to Insure Houses.  
There are but two Reasons( Since an Insurance Office is already settled) that can engage the City to undertake the same design.  
First, Out of respect and Care of those that are under their Government: and upon a supposition they can give them Better Security.  
Or Secondly, From an Expectation of Great Profit such an Undertaking will produce, too great for private persons; and arising chiefly from their Citizens, it ought to belong to them.  
Now, if upon Debate, it appears, That they are Misinformed in both: Then it must be concluded, That a Wise Assembly, such as the great Council of the City, will let fall their former intentions.  
That they may be Misinformed in the first: that is, The City Cannot Settle a Better Security or Fund, for Insuring Houses from Fire, than is Already settled, will appear,( and this may be said without any Reflection on the Credit of the City of London) if the nature and strength of all Securities be Examined, and the Difference of the same Security, in the hands of public and private persons.  
All Securities are either Real, Personal, or the Seal of a Corporation. And the strength of the several Securities are thus.  
Real Security, at the instant of making it, binds the Estate; as Judgments, Statutes, recognisances, and Mortgages.  
Personal Security binds the Person, but neither Goods, nor Lands, are affencted at the Sealing of the Bond.  
The Seal of a Corporation binds no private Person, his goods nor Lands; nor the Goods, nor Lands of the Corporation, until judgement Recovered at Law, which must be Tedious; and any time before such judgement, the Goods and Lands of the Corporation may be Sold, or o●●erwise settled; which makes such Security uncertain; for the Obligation may be Better Secured when first made, than when to be paid; whereas real Security once Good, continues the same.  
Now this being considered, it makes a great difference, betwixt the Seal of a Corporation, and Real Security; and between what usually the City gives; and what the Insurance Office, where every Policy is a Mortgage on their Land.  
For tho many Citizens out of Honour and respect to the City, may be better satisfied with their Seal, than with any other Security; and do believe they may as well Trust it for the Rebuilding their Houses, as to pay their Childrens Portions; yet it is to be considered, That a great number of Houses in the City belong to strangers, who probably may advice with Council, and take that security which is best in the sense of Law.  
But if to remove this scruple; the City should be persuaded to follow the Pattern already settled, and make a Security in Ground-Rents for that purpose;( for though they mention Lands, they are not so good Security; their Rents not so certain; not so Easily known to those whose concerns are in London; not so ready to raise Money; nor so aptly proportioned to every mans Loss( if forced to take them for satisfaction:) yet( supposing Ground-Rents) they cannot make a better Security, than this already settled by the Insurance Office.  
For should the City Settle a greater Estate, if for a greater Number of Houses, it is but the same with that already settled: for One Hundred Pounds per Annum, is as good Security for One Thousand Pounds, as One Thousand Pounds per Annum is for Ten; if a greater Estate for a Lesser Number; it can be no Advantage: for the Proportion already settled; is Allowed by All to be sufficient; if not, It is in the Power of the Office to alter, and follow theirs.  
Therefore, taking it for Granted, That the Security is in all Respects equal; yet there are Differences that make the same Security Better, as it is Now settled by Private persons, than if settled by the City: And every difference is an Argument, when things before were equal.  
First, It will be Better Managed for the Advantage of the Insured and Insurers. Mens Credit, Care and industry, are more concerned to preserve private Interest, than public: By this means fires will be better prevented and extinguished. The ill Management and Loss of the Corporation affects no Particular Mans Credit or Estate.  
Secondly, The Payment of Losses and Satisfaction of Damages must be easier and quicklier dispatched by the Office, than by the City. The attendance upon the Court of Aldermen or Committees; the respect that is given them; and the waiting without Doors for Orders, when no favours are desired, are uneasy delays to Business, such as men would avoid; and when the Terms are equal, rather to deal with their equals.  
Thirdly, The Rule of Iustice is not always the same betwixt Private and public, as between one private man and another; a man must part with All to satisfy his Debts. But if a very Great Loss should happen to the City, the Rule in paying may not be the same: For the maxim of Government, is, That the private concerns should suffer, rather than the public be Undone: because, in the Welfare of the public, All are concerned.  
Lastly, If the City refuse to pay a Loss; the Remedy is not so easy and certain( by any provision they can make) as it is against Private persons: the Course of the Law is not so easy to Sue a Corporation, as a private person: Besides, all process of Law must come to the Sheriffs who are Members of the City; if they refuse to serve them; they are Fined, and the City have the Fines: So that at last, The strength of their Security will much Depend on the Honour and Iustice of the Corporation.  
Thus it appears that the City cannot by their Seal, their Lands, nor Ground-Rents, make a better Security for Insuring of Houses, than is already settled by the Insurance Office; and therefore cannot be an Argument for them to concern themselves in this Affair.  
The second Reason that can engage the City in the Design of Insuring Houses, is, The Expectation of Great Profit. Now, if the Profit be altogether uncertain, and much less than was represented, its probable they may alter their intentions: that it is so, will appear thus.  
First, It is the nature of an Insurance Office; that the Premium should be proportioned to the hazard, with some reasonable Allowance for the attendance and charge of the Insurers; and those that projected this design, thought it their interests at first to set the Premium, rather too low than too high; the easiness of the Terms, being an Encouragement to the insured; for, when by paying of Losses, the Office had gained Reputation, it might be easily raised.  
Now, whether the Premium( as it is now settled) is well adjusted, is not in the power of men to determine, because, the Design is new, and nothing but Experience can do it: Yet it cannot continue long uncertain; for, as the Insurers by Losses finding the Premium too Low, will Raise it. So, by their growing Rich, it appearing profitable; other designs, set on foot at Cheaper Rates, will force them to Lower it; till at last it's brought to that equal lay, as in the Insuring of Ships; by which, in report, there is as much money lost, as gained.  
Secondly, The Profit is Much Less than was Represented: For, if Mr. Newbolds Calculation of the Profit and Loss, had any influence on the Vote of the City, it will appear, that they are much Mistaken: In his Printed paper, he computes, that the Premium of Twelve Thousand Brick Houses at three per cent' will produce ninety Thousand pounds: Which by interest at Si● per Cent. is Five Thousand Four Hundred Pounds per Annum: And that the Loss amongst them, since the Fire of London. ( one Year with another) hath not Amounted to above Four Hundred Pounds per Annum: So that allowing One Thousand Pounds per Annum, for Charges of Management; the Profit to the City, by this design, would be Four Thousand Pounds per Annum.  
How he comes to make this Conjecture, or why he made not the Profit Twice as much, is not d●●lared: But certain it is, That upon Examination, he will appear as much out in his Guess, as in his other thoughts of the same Design.  
The best way to find out the Premium of Twelve Thousand Houses, at Three per Cent, is to examine the Books of the Insurance Office: now by the Computation of several Hundreds of Houses already Insured; The Premium of One Hundred Houses do not Amount to above Five Hundred Pounds; so that Twelve Thousand Houses makes Sixty Thousand Pounds: And by the Rate of the Office, The Premium of Brick and Timber Houses, together, makes Three and a Half per Cent; so that the Half per Cent, being deducted; the Premium of Twelve Thousand Houses at Three per Cent,( which Mr. Newbold Reckons at Ninety Thousand Pounds) makes but Fifty One Thousand Five Hundred Pounds: And this is the best Demonstration this Affair is Capable of.  
Next, he supposes that Four Hundred Pounds per Annum, will Satisfy the Loss, from Twelve Thousand Brick Houses, since the Fire of London.  
This needs no other Answer, than the Printing the Particular of them; and leave it for every Man that hath Skill in Building, to decide: whether Six Thousand Pounds could Rebuild all those Brick Houses, Burnt since the Fire; or whether they have not Cost Four times as much? For the Loss from the last Years Fires, was Six Thousand Pounds.  
The Particular of the Houses Burnt within the City and Liberties, since the Great Fire, in Number Ninety Seven, are as followeth, viz.  

Brick.  
Warwick-Lane 1  
Cole-Harbour 2  
Budge-Row 2  
Mincing-Lane 1  
St. Clements-Lane 2  
Cheapside 2  
Dyers-Hall 2  
Bow-Lane 1   

Brick.  
Bartholomew-Lane 1  
Knight-Rider-Street 1  
King's-Bench-Office and White-Fryars 9  
Fetter-Lane 2  
Temple 40  
Pauls Church-Yard 1   

Timber.  
Jewen-Street 2  
New-Cheapside 1  
Barbican 2  
Cammimile-Street 2  
The Navy-Office 15  
Bishopsgate-Street 6  
Bishopsgate-Street 2   
But because the making some probable guess of the Profit by Insuring 12000. Houses, may be an Argument of greater Force t● the City than all other Considerations: It shall be examined by supposing the whole City and Liberties to be Insured, and numbering together the Brick and Timber Houses Burnt since the great Fire of London;( this being the best way of guessing, because the Premium of Brick and Timber were cast together) and then by making an estimate of the Charge of Rebuilding, and Damages of the adjoining Houses; for that must be reckoned if all were Insured.  
The Charge of Rebuilding with the Damage of the adjoining House may be Reckoned at Four Hundred Pounds per House, one with another. Now there being since the Fire of London, in the City and Liberties, Ninety Seven Houses Burnt, at Four Hundred Pounds per House, makes Thirty Eight Thousand Eight Hundred Pounds. And if it be supposed, that Twelve Thousand Houses be Half the Number within the City and Liberries, then the Loss from Twelve Thousand Houses, is Nineteen Thousand Four Hundred Pounds; which one Year with another, makes about One Thousand Three Hundred Pounds per Annum, Loss. This is a modest Conjecture, and short of the real Charge: For the Fire of the Temple( which is not half the number) Cost Twenty Thousand Pounds, which is more than Half the whole Sum.  
So that the Profit to the City from Insuring Twelve Thousand Houses, will Arise thus. The Premium of Twelve Thousand Houses, as appears before, is Fifty One Thousand Five Hundred Pounds, which by Interest at Six per Cent, makes Three Thousand One Hundred Pounds per Annum; Deduct ●he Loss at One Thousand Three Hundred Pounds per Annum; and the Charge of the Office at One Thousand Pounds per Annum, which makes Two Thousand Three Hundred Pounds; then there Remains Eight Hundred Pounds per Annum Profit. This, were it certain, might be some recompense for pri●ate Persons, but too small for the City: especially, since it may be Long before such a Number is ●nsured. And therefore, cannot be worth the Trouble of the City to undertake.  
Thirdly, There is another Consideration that will Lesson this Profit, if not bring Loss to the City by is 〈…〉 That the Insurance Office already settled, upon 〈…〉 ●ay Reasonably expect to Divide whatsoever that 〈…〉 Number of Houses must be Insured to Maintain the Charge of the Office; may; as Men of the same Trade often do, so Under-sell one another to get custom, till they both lose; especially, since neither have Experience sufficient to make a right judgement of the Hazard.  
If this should happen, the Design itself will be Ruined; for though the present Fund is so proportioned, that the Insured can never Lose; yet the Insurer's Finding no advantage, will ●esist from further Settlement; and their Discouragement will prevent all others from Attempting the Same. And not to mention what those Gentlemen may think; for having with great Labo●● and Charge, Framed a Design so much for the public Benefit of the City, to be so Requited by Them. The Citizens themselves, will have Cause to Complain of their councils, for disturbing the Success of this Settlement, before they could make certain Guess of the Advantage. Thus it Appears, that the Profit of this Design must be very Uncertain, and cannot be Great. Which may Probably Induce the City to alter their Intentions.  
To this last Consideration, may be added, the Difficuity in Raising and settling this Fund of Ground-Rents, and the Ill Consequence for the City to alter their Usual Security; for Trouble and Inconveniency, are good Arguments against that Design which produceth small and uncertain Profit.  
First, The Difficulty in Raising this Fund, is to be considered; for either the Ground-Rents do already belong to the City, or are to be Purchased.  
If they now belong to the City; It is not the Interest of the Citizens to Settle them for Insuring of Houses; because it will Lessen the Security of the Chamber, which is for the Payment of joint-tenants Portions; for although the Seal doth not Bind the Land, yet it is the Land and Revenue of the City, that gives Credit to the Seal, and makes it able to Satisfy.  
If to be Purchased, they must be paid for; either by the Money of the Chamber; and then the Objection is the same as the former, in settling their Land. Or, By money Advanced by those that Insure: And then the Insured have no other Security than the Seal for Insuring their Houses; which the City Imply is insufficient, by offering another. For what is not, never may be. And the Obligation cannot be greater to Settle than to Pay: And the great Number by four or five pounds a Man, that must Insure, to raise Twenty thousand Pound, and the uncertainty of finding out a Purchase in Ground-Rents, which are not always to be sold; and when they are, may be set at such a Value,( knowing the City's Occasion) that it may not be their Interest to Purchase them; are such Contingences, that must make the Settlement very Long, if ever to be Effected.  
Besides, when this Fund is raised, the Difficulty in settling it so, as not to remain in the Power of the City to control: which if not; is no more than their Seal. Will( when thoroughly considered) be found so great, as to make it almost impossible to be done.  
Next, The Ill Consequence for the City to Alter their usual Security, for such a design, when there is no other reason, but that their ●eal is not sufficient Seecurity, is worth Consideration.  
First, It lessons the Credit of their own Seal, by preferring another sort of Fund in Ground-Rents, as a more undoubted Security. Which may prove a Consequence of some weight, because it is now trusted in as great a concern, which hath the same, if not greater reason, to expect as good Security.  
For if such care be taken to settle a better Security than the Seal for the Insuring of Houses then those Citizens that have Children, may reasonably desire to have the same Settlements made for joint-tenants; their Children being Dearer to them, than their Houses; and the Justice of the City will be engaged to make the same provision for the joint-tenants, because they are forced to trust them.  
Secondly, Since all Men are desirous of the best Security; and the City, upon occasion, have altered their usual Form, it is not improbable but that the same Request may be made upon Emergencies of Borrowing Money; especially when it is publicly known, that a great Part of the Citie● Lands were before settled for these Uses.  
Lastly, It gives Reputation to the Settlement of the Insurance Office, by following their Pattern; which, if they Rival, they ought to Lessen.  
Thus, from the Consideration, that the City cannot make a better Security for Insuring Ho●ses from Fire, than is already settled; that the Profit from such an Insurance is very uncertain, a●● cannot be Great; together with the Difficulty and Ill Consequence that attend such Settleme●● it appears that it is not the Interest of the City to Insure Houses from Fire.  
And from the same reasons; that is, That there cannot be A better Security, and that Profit from this design is not great; and therefore, to make the terms of Insurance Easier, 〈◇〉 to hazard the ruin of the design: It is evide●●, that the Insured cannot expect any advantage: 〈◇〉 the Cities undertaking this affair: However, lest some Persons from the City's publishing 〈◇〉 intentions, should delay their Insurance, either to the Disadvantage of Themselves, or the pr●●●● Office; the Gentlemen of the Insurance Office think fit to make this Publication.  
That all Persons that shall Insure their Houses, shall have Liberty till the First of January, 〈◇〉 to bring back their Policies; and the Insurers will oblige themselves, and their Security by Ind●●●ment on their Policies to Accept of a Surrender, and repay the Premium, only Deducting a 〈…〉 other Persons, in that time shall off●ter Security or easier Terms, they will have liberty to Accept them: and in the Interim, they 〈◇〉 the Advantage to be Insured by this Office.  
These Papers for public satisfaction, are delivered Gratis at the Insurance-Office for House on the back of the Royal-Exchange.  

Observations on the Proposals of the CITY, to Insure Houses in case of FIRE.  
WHEN Right is Invaded, all manner of Defence is Lawful; Therefore, since the City of LONDON endeavour to Set Up the Insuring of Houses from Fire, by the Invention of Other Persons, it is reasonable to expect, that they who were Authors of the design, and are thereby Injured, will not forbear, to Publish those Truths which may Lessen their Adversary, and be useful to Preserve their Right, though by so doing, they should seem to Reflact on the Justice, Wisdom, or Credit of the City of LONDON.  
For, that the Gentlem●● of the Insurance Office on the Backside of the Royal Exchange, were the First Inventors of his design, must be Granted by All; because, the City would have otherwise Accepted that fair Proposal that was at first made to the Right Honourable the LORD MAYOR, &c. viz. To Refer it to Council, to determine this Original Right: And if it did appear[ by any of the City-Journals] that they had formerly resolved the same way of Effecting this Design, or could add any New Thoughts that improved it, other than Lessening the Rates, or Prolonging the Terms of Insurance, which are no Essential differences, nor may perhaps be any Advantage to the Insured; The Gentlemen of the Insurance Office did Promise, to desist from Insuring in the City and Liberties.  
And though it may be true, that about the Year, 1670. Proposals were made to the City about Insuring Houses from Fire, upon which a Committee was Chosen to Examine them; yet they were extremely different from this Design, and so Impracticable in themselves, that they were forced to lay them Aside: And it is more than probable, that the City could never have Settled this Affair, had they not taken the Pattern from the Insurance Office, since Ten Years have been spent without making the least Progress in it.  
Now, since the Undertaking of the City to Insure Houses, is but a Copy of Anothers Invention, the best way to Discredit it, and show its Imperfections, will be to Compare it with the Original.  
The Method that was at first used to Settle the Insurance Office on the Backside of the Royal-Exchange, was thus, viz.  
Propoutions for Insuring Houses were Published; wherein were set forth, the Premium, or Rates of Insurance; the several Terms of Years; the Security of Ground-Rents, and manner of Settlement on Trustees. And that General Satisfaction might be given, several dayes, upon public Notice, were Appointed for those that had Thoughts of Insuring, to Meet at the Office, to Object and Debate what might be advantageous or disadvantageous to the Design; and according to the Result of those Debates, this Affair was settled by Counsel chosen by those that Subscribed to Insure.  
This Example the City would seem to Follow: Some things they have Imitated not now Necessary, others Necessary they have Omitted: Some things they have Altered, which has much prejudiced their design. All which may be observed from these Four Particulars in their Printed Paper, viz.  

I. Taking Subscriptions.  
II. The Rates of Insurance.  
III. The Terms of Years.  
IV. Their going at last to Council, to know whether they can Settle.   
AS to the First, [ Their taking Subscriptions] There can be no occasion now; unless not understanding the Reasons of the Design, they are careful to make a True Copy: For though the First Inventors did take Subscriptions, because the Design being altogether New, they could not otherways discover, whether their Propositions were Approved of, but by the Readiness of several Gentlemen to Subscribe. Yet since this Affair is settled, and gives General Satisfaction, there is no occasion of Subscriptions: For if the City can in all respects follow This Pattern, they have reason to expect the Same Success. But if not, Why should men Subscribe to their Disadvantage? Especially when their Houses are not Insured by Subscribing; and it may probably be so Long, if ever, before the CITY Settle their Fund, that their Houses may be Burnt before they are Insured.  
Moreover, they may Insure at the Office already Settled, and be Released, when mey find the CITY have made Better Provision for them. Therefore, there can be no Occasion of Subscriptions, unless those Gentlemen of the Committee, that drive this design, believe mey may easier engage men to Subscribe, than to Pay their Money; and by persuading the Court of Alde●men, the Common-Council, the Officers, and other Persons who have their Dependency o● the City to Subscribe; may, by their Number and Quality of Subscribers, gain a Reputation to their design, which may serve as an Encouragement to many not thinking persons, and supply the Defects of their Settlement; and may seem a more effectual way than any Answer that can be given to the Paper entitled, An Enquiry, whether it is the Interest of the CITY to Insure Houses from Fire? Though this way will be a kind of force, and therefore not lasting.  
THe Second Observation Is, on the Rates or Premium of Insurance, which is forty Eight Shillings per Cent. for Thirty One Years for Brick-Houses, and double the Price for Timber; and so in proportion for Longer and Shorter terms. This Rate, is Two Shillings in Fifty Cheaper than that of the Insurance Office, which was probably Valued as a great Contrivance to draw Customers: The Effects of such Practices hath been already Observed in the Paper of Enquiry; which is, That it must bring Loss to the Undertakers, and at last ruin the design. So that the Managers of this Affair, seem not so much to regard the Future Consequence, as the most probable means to bring Present Money to the Chamber, and Places to Themselves. But since the Gentlemen of the Insurance Office are under this Force, they are Resolved, rather to Run the Hazard of Losing, than that the City should make Advantage by their Invention.  
Therefore, that the Easiness of the Terms may be no Encouragement to Insure with the CITY, They do Resolve for the Future, to Set their Rates at forty Five Shillings and Ten Pence per Cent. for Brick Houses for Thirty One Years; which is Five Pence per Pound Rent, for Brick-Houses for a Year, and Double the Rates for Timber; and to Discount by way of Purchase, viz. Five Years paid down for Eight Years Insurance; Seven, for Twelve; Nine and a Half, for Twenty-One; And Eleven, for Thirty-One Years. These Rates are Lower than the Cities, and more agreeable to practise, than their Table, which is after the Rate of Thirteen Years Purchase for One and Thirty Years, and near Sixteen Years Purchase for Fifty-One Years: Prices never heard of among Purchasers.  
And do Further Declare, That they will always set their Price under the City, though they do not intend to Alter any more, till they are Certain that the CITY can proceed, and have Settled their Fund.  
This they think, they can Better justify the doing, than the CITY; because their Security is so proportioned to a Number of Houses, that whether the Premium make a Greater or Lesser Sum, it doth not Alter the Security to the Insured: And if they Lose by the Undertaking, it is their Own, and no Injury to Any.  
But those Citizens that Manage the Revenue of the City, are but Stewards for the rest; and if they( through Rashness and want of Knowledge) Venture the public Revenue of the City, on a Project that brings Loss, they prejudice the Whole Body of the Citizens: For if the Revenue of the City be Wasted, then the Charge of the Government must be Supported by Taxes.  
And it is very probable, that there is no great Over-plus of Revenue belonging to the City, ●ore than is Necessary to Defray the Charge of the Government, the Trust of the joint-tenants, ●●d the Repairs of the public Places: For if there were, Why is Money borrowed at Interest, ●hen no visible Improvement is made by it? Or, why were the Fifteens so lately Raised, to Repair the public Works of the City, which ought to be done out of the public Revenue? Especially since the Citizens in many Years before, had not been so Taxed?  
THe Third Observation is, on the Terms and Length of Insurance; The Office on the Backside the Royal-Exchange, Insures no Longer than for Thirty-One Years; the City Propose to Insure for what Term Desired, and for Ever. This perhaps was thought of as another Stratagem to bring in Customers; as if it might engage all those that had the Inheritance of Houses, and long Terms; and besides, might Raise the Value of the Premiums, and bring a greater Sum to the Chamber.  
They never Considered, That those that First Formed the Design, had probably thought of this; and had it been Convenient and advantageous, might practise the same: And therefore, since they have taken this Design on the second Hand, and upon Trust, were very Adventurous so much to Alter from their Pattern, unless they were provided to give Better Reasons for their so doing, than are to be Expected from them.  
For, to Insure for Ever, is to Spoil the whole Design; because no Security can be good, where all the Profit is at first Received, and the Loss is Uncertain, and Continues for ever; for the Loss being uncertain, the Security cannot be Proportioned: And where all the Profit is at first Received, there is no Interest obliged to take Care of the Design, so as to Pay a Loss, and Preserve the Fund. So that, when ever the Loss happens greater than the Annual Rent of the Security, the Land must be Divided and Torn in Pieces, to Satisfy the Loss: Whereas, when Houses are Insured for no longer then Thirty-One Years( which is Sufficient to Comply with all Mens 〈…〉 that will Arise from the Reversion, will 〈…〉 of those concerned in the Office, to Raise Money to Pay the Losses, and Preserve the Fund entire; tho the Losses were greater than Ten Years Rent of the Fund. And this was one of the great Arguments that was Used at the settling this Affair, to show the Certainty of the Security, which no otherwise could have given Satisfaction.  
Therefore, should Men be so Imprudent to Insure their Houses for Ever, this Corporation would have greater occasion for an Act of Restraint, than the Spiritual Corporations heretofore have had; for, though the Church and colleges, by Granting long Leases, prejudiced their Successors, they left them the Old Rent: But these Gentlemen of the Committee, will not be so kind to their Successors; for they would not only leave them without Reversions, but Entail a perpetual Charge and Loss upon the Corporation.  
THe Last Observation is, that They are Resolved, to Settle Lands and Ground-Rents of the Cities, to the Value of One Hundred Thousand Pounds on Trustees, so as to be Easily Recovered,( and yet have not Discovered to the World where they lie) and to attend Counsel, to Know whether they can Settle them. This ought to have been the first Step, to have published a Particular of these Estates, with the Opinion of council; that they are not already Appropriated and Charged for other Uses: For the Lands of Corporations are generally charged both for public and Special Uses; such as Repairing of Bridges, Maintaining of aqueducts, and Supporting other public Works. Had they followed their Pattern in this Particular, they had prevented several inquiries.  
First, How the Lands of the Corporation can be Settled for the Benefit of private Persons, and to pay their Losses, but that they must be still liable to the first Trust? So that whilst the Design brings Profit, the Settlement may seem Good; but when Losses happens, the first Settlement may take Place, to the Defeating of the Latter.  
Secondly, How can these Lands be Settled upon Trustees, so, as when a Dispute Ariseth, the City must Not be made a Party, since they are more Entrusted for the City, than for any particular Person that shall Sue? It being not usual for the Court of Chancery to bind any person by Decree without being Heard, especially the principal party to the Suite? If so, their Settlement of Ground-Rents, is not so Good as their Seal: For this Settlement, is liable to the same difficulty of Recovery, if there be a Dispute, and is not so large a Security: For the Seal might be made to Affect all the Lands of the Corporation, were it not for the Difficulty of Suing them; but the Settlement, will be Limited to a Part.  
Now if the City must be made a Party upon all suits, they must be Summoned; if they Refuse to Appear; they Forfeit, or lose Issue; which the Party hath no remedy to Recover: And the Party cannot proceed in his Suite, Because the City will not Appear. So that those Gentlemen of the Committee were extremely lead out of the Way, in following the Pattern of a Settlement, thinking to Gain a Reputation by Offering an Hundred Thousand Pounds Security; Whereas the Revenue of the City, must be Supposed to be Worth more, and the Seal Affects it all. For the Objection was not against the Ability of the City, but how to make them Willing, or Force them to Pay.  
This Difficulty in Suing the City, is Real; for if it were not, Those many Persons( whereof some of them have not Bread for their Families) would not have been so long without their moneys, which they Lent to the Chamber upon Interest, and have Bond under the City-Seal for their Payment: And yet some of these Bonds are of so Little Value, as to be Sold for Twelve-Pence in the Pound.  
Therefore it were more Honourable and Just, for the City to Sell such Lands as they can Dispose of, to Pay those Debts, than to employ them to Injure other Men: For till then, How can ●t be Expected, That the Insured shall have Better Justice, when a great Loss happens, than ●hose Persons have had? For, Why may not the City hereafter give out, That this Project was Driven by a Particular Party, then Powerful, that engaged these Lands in a Design to their Prejudice, And therefore they have no Reason to pay the Loss? As hath been formerly said to the Creditors that Lent their Money, that a particular Faction of Men( though then the Majority) Lent the Money to the Parliament; and therefore they have no Reason to Pay it?  
Thirdly, Suppose the City can Settle those Lands, so, as to make them easy to be Recovered, How can they be Freed from the encumbrances of these Debts? And being easy to Recover, How shall the Insured be Secure, that Those Creditors will not Seize Them? For some of ●hem being put in Mind, by the Cities Proposals, that the Lands shall be Settled to Recover Without Trouble, are Resolved to try what they can do to Get their Money: And therefore have been Advised by Counsel to Sue; If the City refuse to Appear, the Issues must be levied in the Land; which may be a dispute in Chancery, whether it is not an encumbrance from notice, as in the case of Lands settled for payment of Debts, a Creditor shall charge them, by Filing a Bill in Chancery; for Lands of Corporation are in the nature of Lands in Trust? If to avoid this Difficulty, the City shall Appear, then why should they not obtain judgement, and so Seize the Lands? And as far as they will go, take them to satisfy their Debts?  
Lastly, What will become of their Settlement, if the City Forfeit their Charter? Whether the Lands of the Corporation do not Devolve on the Crown? Who then shall satisfy Losses, and Extin●uish the Fires?  
By these Observations it may Appear, That the Gentlemen of the Committee did not well Understand the Design they were about; for which they are not to be Blamed: For it is not Reasonable to expect, that they should so well( on a sudden) understand a Design, as the Inventor of it, who had spent much Time and Study in the Contrivance; no more than they may be supposed to understand Law and physic, as well as those that have Studied those Sciences. And it is as Reasonable, that the City should have the sole practise of Law and physic, within the City and Liberties, because it would be Profitable, as that they should Insure the Houses within those Limits; and something more Reasonable, because the Profit from Law and physic would be more Certain.  
But however, those Gentlemen that intend to Insure their Houses, may perhaps consider, That by Insuring with the City, they Support the Contest; which though it bring Down the Prices of the Insurance, yet in the End, must ruin the design, and so will Lose that Advantage( which by Encouraging the First Inventors) they might probably expect from it: And that by Insuring, they are not Serviceable to the City; for this Design( as the Committee have Contrived it) may produce some certain Places to themselves, but Uncertain Profit, if not Loss to the City: And besides, by Insuring with the City, they are Instrumental to take away the Right of the First Inventors; and as it were Club, to do that which every person( were it his private Concern) would Scorn to do.  
These are to give Notice, to those Gentlemen that have Insured their Houses, at the Office on the back-side the Royal-Exchange, If they will come to the Office, they shall be Repaid the Over-plus of their Premium, above the Rate of Forty-Five Shillings Ten Pence per Cent. for Brick, and Four Pound Eleven Shillings Eight pence for Timber, for Thirty-One Years. And so in proportion for Lesser Terms, according to the Printed Table; Or, be made Allowance by addition of Term. And if they shall have further Occasion to Alter their Rates, they will make all that have, or shall hereafter Insure, equal Abatement.  
And they do further give Notice, That they intend to Settle the Ground-Rents of Devonshire Buildings the next Term; And then to make provision for Insuring Chambers in the Inns of Court and Chancery: And have also provided another Parcel of Ground-Rents of Fifteen Hundred Pounds per Annum at Westminster; which will make the Security to the Value of near Fourscore Thousand Pounds. These they intend to Settle before the Number of Houses( upon this Security) is complete; And to give public Notice sometime before, with the Names of Council that are to settle the Conveyances, that all Persons desirous of Satisfaction in the Title, may resort to them without Fees.  

A Table for Insurance of Houses from Fire, from One Pound per Annum to a Hundred for Thirty-One Years, or Under, after these Rates, viz. Five Pence in the Pound for Brick Houses, and Ten Pence for Timber, and to Discount by way of Purchase: That is, Five Years paid for Eight Years Insurance; Seven, for Twelve; Nine and a Half, for Twenty-One; and Eleven, for Thirty-One: Which is Forty Five Shillings and Ten Pence for Brick Houses, at Ten Pounds per Annum; and Double for Timber. This is Under the Cities Proposals Two Shillings and Nine Pence per Cent.  Pound Rent Insured for 8. Years. Insured for 12. Years. Insured for 21. Years. Insured for 31. Years. Houses Burnt, Money Paid. Lib. l. sh. d. l. sh. d. l. sh. d. ob. l. sh. d. l. sh. d. 1 00 02 01 00 02 11 00 03 11 0½ 00 04 07 10 00 00 2 00 04 02 00 05 10 00 07 11 00 00 09 02 20 00 00 3 00 06 03 00 08 09 00 11 10 0½ 00 13 09 30 00 00 4 00 08 04 00 11 08 00 15 10 00 00 18 04 40 00 00 5 00 10 05 00 14 07 00 19 09 0½ 01 02 11 50 00 00 6 00 12 06 00 17 06 01 03 09 00 01 07 06 60 00 00 7 00 14 07 01 00 05 01 07 08 0½ 01 12 01 70 00 00 8 00 16 08 01 03 04 01 11 08 00 01 16 08 80 00 00 9 00 18 09 01 06 03 01 15 07 0½ 02 01 03 90 00 00 10 01 00 10 01 09 02 01 19 07 00 02 05 10 100 00 00 20 02 01 08 02 18 04 03 19 02 00 04 11 08 200 00 00 30 03 02 06 04 07 06 05 18 09 00 06 17 06 300 00 00 40 04 03 04 05 16 08 07 18 04 00 09 03 04 400 00 00 50 05 04 02 07 05 10 09 17 11 00 11 09 02 500 00 00 60 06 05 00 08 15 00 11 17 06 00 13 15 00 600 00 00 70 07 05 10 10 04 02 13 17 01 00 16 00 10 700 00 00 80 08 06 08 11 13 04 15 16 08 00 18 06 08 800 00 00 90 09 07 06 13 02 06 17 16 03 00 20 12 06 900 00 00 100 10 08 04 14 11 08 19 15 10 00 22 18 04 1000 00 00    

London, Printed for the Gentlemen of the Insurance Office on the Back-side of the Royal-Exchang● where these Papers are to be had Gratis, 1681.