8464. TONTINE, Raising money by.—
The raising money by Tontine, more practiced
on the continent of Europe than in England, is
liable to the same objection [as funding], of
encroachment on the independent rights of
posterity; because the annuities not expiring
gradually, with the lives on which they rest,
but all on the death of the last survivor only,
they will, of course, overpass the term of a
generation, and the more probably as the subjects
on whose lives the annuities depend, are
generally chosen of the ages, constitutions, and
occupations most favorable to long life.—
To J. W. Eppes. Washington ed. vi, 197.
Ford ed., ix, 397.
(P.F.,,
18131813)gt;
