ther new, and to a great number, if properly attended to, I am certain they will be found advantageous.

As to my difcount or calculation tables, they are the first ever published, in the form in which they appear, and to answer fo many purposes; I think I can venture to say they are as cor rect as it is poffible to make any thing of the kind, without be ing far more voluminous; and I can affure the reader, no pains were fpared to render them fo.

My fituation has given me great advantages in many refpects, of feeing the manner in which a prodigious number of tradefmen proceed; I will not take upon me to fay, that I have improved them altogether fo much as I might have done; for the very means by which I acquired a great part of my information, prevented me from thewing it to the beft advantage, and particularly in attending to rectify and correct the errors of the prefs, as I could have wished.'

Befides the fpecimens of books in several different forms of book-keeping, and the defcription of them, Mr. Wood delivers various differtations on other things relating to trade, as on partnerships, on bills and notes, on the origin, &c. of commerce, a table of discount, fhewing the fums that remain after any given fums have been diminished at any rate per cent. of discount, &c.

We fhall close our review of this performance with the following extract, relating to a matter very interefting to the merchantile reader.

• An account of an important determination, which ought to be known by every person who has, or may have, any concern in bills of exchange, in order to conduct themselves with propriety and fafety; as it ferves to fettle a point of law which was by many thought to be obfcure.

An action was brought by (one) Mr. Black, against (a) Mr. Peele, to recover the fum of 493. 12 s. contained in a bill of exchange, drawn by (a) Mr. Barber; accepted by Mr. Peele, and indorfed by (a) Mr. Dallas, (now infolvent) for whom Mr. Black discounted the bill.-It appeared that Dallas undertook to relieve Peele of this acceptance, and to pay it when due; that Peele refused to pay it when due; that an action was brought both against him and Dallas; that Dallas applied to Black for a delay, who agreed to give him fome months, upon his confeffing judgment for the debt, intereft, and cofts. Before the day of payment, Dallas became infolvent, and Black brought his action against Peele, and obtained a verdict on a trial before Mr. Juftice Willes. A motion was made for a new trial, and Lord Mansfield delivered the opinion of the court, that Black, by having given a future day of payment to Dallas, had discharged Peele; that he had no right to give fuch a delay, without confulting Peele, for that Dallas was the real debtor, and Peele was only nominal, and that there was an end of every remedy against Peele.

< Mr.

Mr. Black afterwards brought the cause again to trial before lord chief juftice De Grey, and a special jury at Guildhall, on Thursday the 11th day of July, 1776, when a verdict was given for Mr. Peele, agreeably to the opinion of lord Mansfield, and as the grounds of this verdict were clearly fet forth in the charge given by the learned judge to the jury; the following is given as the fubftance of the charge. After ftating the nature of the cafe before them, the learned judge obferved, that it must be understood that Mr. Black is bona fide an indorfee, (or poffeffor) as fuch he may refort to three paymafters; either the drawer of the bill, the acceptor, or indorfer, yet he may difcharge one of other of them; and here I think the plaintiff's counfel, Mr. Mansfield, ftated the rule in law too strong; when he said, "nothing could difcharge one or other of them without an exprefs agreement for that purpose. I do not think fo; I take the law to be this, "If the indorfee (or poffeffor) does discharge the acceptor once, he never can refort to him again; and he may do this either by an express agreement, or what will amount to an implied agreement, by taking part of the fum from the drawer or indorfer; he thereby gives credit to the person who pays part of the fum, by giving him time to pay the remainder. I take it in point of law the acceptor by that means is discharged, becaufe by taking part from one he quits the others, and can never go back to them again." There is no evidence that Mr. Black has given any credit to the acceptor, therefore I think he cannot maintain his action. It will be for your confideration if he has fo abandoned the acceptor as to deprive the indorfee of having recourfe to him again, There are particular facts much infifted on both for the plaintiff and defendant. The bill being due in August, 1773, and not paid, an action was brought against Dallas the indorfer, and Peele the acceptor; at that time Mr. Black is fo far from abandoning the acceptor, that he asserts his right on both he went to a commitment; one evidence faid he went to the defendant, and wished the matter might be delayed till his master returned to town, therefore bail is not put into the fheriffs till September. It does not appear what made the parties give bail at that time; this is by no means a waving of the demand on the acceptor. The next demand is in September, this appears by Mr. Shaw's evidence; he went to fee if this affair was fettled, and was told, it was expected that matters would be fettled very foon; this delay was not a waving but a fufpending of proceedings, in expectation that the matter would be fettled. Now we come to a material tranfaction, what paffed the 5th of November: it appears that an agreement in the cafe was made between Mr. Black and Mr. Dallas. From this agreement it appears, that Dallas was to confefs judgment for the whole debt, and he was likewife to give intereft and costs, together with all the expence of levying the execution, fheriff's poundage, and officer's fees, if the bill was not paid before the laft of February enfuing, on condition of Mr. Black's fufpending all proceedings till that time, which was agreed on by both

parties.

parties. This feems to be an implied difcharge of the other two, for this agreement between Dallas and him, is evidence that he had given the indorfer credit, as the money was only to be paid within that time. If there is a new time given to one of the parties, it discharges the other, because it is giving that perfon new credit.

If this rule is right, it preffes hard on Mr. Black, and in favour of Mr. Peele, for even in that agreement the cofts which had been incurred in the profecution against Mr. Peele, were taken off him, and laid upon Mr. Dallas, and these articles are put into the account of Dallas. This imports to-Mr. Peele, not only a discharge from the principal debt, but likewife from the cofts; here is one article changed, and in that cafe Mr. Peele is difcharged, and he takes Mr. Dallas for his paymaster; there the matter refted the 5th of November. When we come to the parole evidence this is confirmed. There is a material circums ftance which bears hard on the plaintiff; as long as Mr. Dallas is not infolvent, Mr. Black refted on him. There is one part of Mr. Barber's evidence material; I do not rely on the bill being originally given to accommodate Mr. Dallas; it was nothing to Mr. Black how it was obtained; but he fays, after this agree ment, they had other accounts with Mr. Dallas, which were fettled before the infolvency, and he believes if he had had that bill he could have obtained payment; and gives his reafons why he believes this. This is the foundation of the law, viz. that if you fufpend proceedings against the indorfee, thereby giving him credit, you deprive the drawer and acceptor from recovering what they otherwife might have done. Mr. Barber tells you he had more due from Dallas, which he got, and he believes he could have got this too, but it only refts on his belief. There fore, if you believe this circumftance, it bears hard on Mr. Black; and, if the rule is right, which I have given you, and that you are of opinion that Mr. Black difcharged the defendant, and accepted of Dallas, you will find a verdict for the defendant; if you think he did not discharge him, you will find for the plaintiff.-A verdict was given for the defendant."

A Differtation on the Value of Life Annuities, deduced from general Principles, clearly demonftrated and particularly applied to the Schemes of the Laudable and Amicable Societies of Annuitants, for the Benefit of Age. By W. Backhoufe. 8vo. 25. Richardfon and Urquhart.

THIS

"HIS publication is chiefly intended to fhew what difference there is between the true values of annuities and the values as estimated either by the Laudable Society or by the Amicable Society of annuitants for the benefit of age. Mr. Backhoufe diverfifies and illuftrates his problems in many dif ferent ways, to remove all doubt of the truth of the compu tations which thofe perfons might entertain who are not

much

much verfed in fuch calculations; and he computes the general question both direct and reverfed; that is, he firft efti mates what annuity ought to be expected for the payments required to be made by each fociety, and compares the conclufions with the annuities that are actually given by them; he then computes what payments ought to be made for the annuities that are given by those societies, and thence finds the difference of thefe true fums from the fimilar fums required by the focieties. Thefe differences in fome inftances are very confiderable, and he remarks that the Amicable Society has lately been under the neceffity of reducing its annuities from 24 to 6 pounds only!

As Mr. Backhouse's defign was partly to inftru&t and enable gentlemen, adventurers in fuch focieties, to compute and judge for themselves, he has contrived to make his book contain, in a fimple, plain, and easy manner, all the rules and tables that are neceffary for computing such kind of annuities on lives. He has also explained, in an easy and familiar way, fuch parts of the general doctrine of chances as are neceffary in the investigation of annuities on lives, and has explained fome of the more fimple kinds of algebraic expreffions for the ufe of readers who are unacquainted with that science. Hereby rendering his book an useful introduction to thofe fubjects.

To obviate the objections fometimes made by perfons unacquainted with computations in chances and annuities on lives, Mr. Backhouse has given the following fhort differtation in the Preface.

A general opinion has always prevailed, that any conclufion drawn from calculations, founded on principles fo un-1 ftable as thofe on the duration of life, muft ever keep pace with the inftability of that data which furnish the enquiry.

And fince the duration of life is a matter immediately under the influence of Divine Agency, for wife purposes kept fecret from human knowledge, it is but a natural inference, to suppose the refult of any enquiry depending thereon, must ever be fruitless and vain.

This, I fay, being the general received opinion, it no longer remains a matter of furprife, to find fo little regard paid to, and still less belief put in, calculations of this nature, where the duration of life is their first principle.

But if we examine more attentively into this matter, it will be found, that these researches do not pretend to fathom the depths of infinite wifdom, and fix a certain criterion to the duration of any particular life, but only take the probability of its duration, as gathered from obfervations on the bills of VOL. XLVI. Auguft, 1778. K

mor

mortality of cities and great towns, where fuch bills have been kept.

And this probability, when applied to focieties and large bodies of men, will come very near to measure the mean du ratron of life in those focieties, and the larger they are, the nearer will this probability approach to the true measure; till at last, if we conceive a fociety as large as the place from whence the obfervations were made (and under the fame circumftances with refpect to any influence on health) this probability would then just measure the duration of life in that fociety collectively confidered. It follows from hence, that the fmaller a fociety is, the further will this probability recede from the true measure of life; till at laft, if we conceive a fociety diminished to one perfon, this probability will then only fhew the number of chances that he has to live longer than the mean age of man, or die before he attains to it. And seeing, that from the whole race of mankind, there are as many die before they attain to this mean age, as those who live beyond it, it is therefore fufficiently manifeft, that the number of chances for any one perfon's living longer than here prescribed, must be equal to the number of chances for his dying before.'

Terra: a philofophical Discourse of Earth. Relating to the Culture and Improvement of it for Vegetation, and the Propagation of Plants, as it was prefented to the Royal Society. By J. Evelyn, Efq. F. R. S. A new Edition. With Notes by A. Hunter, M. D. F. R. S, 8vo. 35. in boards. Cadell.

HIS Treatife on Earth was originally published about a century ago, and underwent feveral impreffions during the life of its author, who was one of the principal ornaments of the Royal Society foon after its eftablishment. His defign was not to investigate the chemical nature of earth, from an abftra&t view of its qualities as an element of matter; but to confider it in the more extenfive and ufeful light of its being the great bafis of every vegetative process in the natural world. Confiftently with this plan, the author's obfervations are every where practical, and lead to the improvement of agriculture.

For the gratification of thofe who may be defirous of feeing in what manner this celebrated treatife is executed, we fhall infert the author's obfervations on the different kinds of

manure.

• Horse