Tontines, Public Finance, and Revolution in France and England, 1688–1789
比较法国和英国汤鼎会的历史,揭示两国公共财政的不同演变及其政治后果,发现法国政府补贴汤鼎会,1770年的违约影响了年金持有者在1780年代财政危机中的政治态度。
Tontines were used more extensively by France than Britain. Comparative tontine history illuminates the differing evolution of public finance in the two countries and its political consequences. Archival materials establish the number of participants in French tontines. Internal rates of return on tontines and alternatives show subsidy of tontines by the French government. Repudiation in 1770 contributed to the political attitudes of life annuitants, the most important class of state creditors, during the fiscal crisis of the late 1780s.