It has been said that there is nothing so delusive as figures. especially in the form of statistics; and to a very large extent this is true. There is a real science of statistics which very few are acquainted with; and the consequence is that enormous labour is often expended on the collection of “Facts” which are not only useless but misleading. So-called “Facts” are often used as a crushing answer to some statement which may be perfectly true; and sometimes with effect, simply because the materials are not at hand to measure correctly the value of the statistics used. The most common offence is that of attempting to draw general conclusions from partial or imperfect observations. For instance, what is the value of the statistics of a coroner respecting the proportion of children murdered, out of the number which come under his observation, when the millions who do not come under his observation are not taken into consideration? Yet such statistics were gravely used to prove that two millions of people insured their children's lives with a view to murdering them, and that therefore such insurances ought to be suppressed. If any weight were to be attached to such statistics we might have it gravely stated, on the evidence of a coroner, that nearly every one died a sudden or violent death.

It has frequently been insisted upon that in the financial management of a life assurance company the scales of premiums, the method of valuation, and the mode of distribution of surplus should be considered together, and not independently of one another. Many instances could be given of unfairness in the treatment of the members of different classes and ages due to a want of recognition of this principle. It is, of course, impossible, in the practical management of a life office, that abstract justice should be administered as between the various policyholders; but as the system of charging uniform premiums for all ages at entry has given way to that of graduating the premiums according to the age of the life assured, so it may be possible and politic from time to time to find means of making the payments of the assured still more accurately conform to the exact value of the benefits they are to receive.