WILLIAMS' CASE.—3 BLAND. 243

In every judicial inquiry, instituted for the purpose of ascertain-
ing * the present value of life interests, it is necessary, in
the first place, to determine what may be regarded as the 229
expected duration of the life in question; and in the next place,
what is the value, all other circumstances considered, of that spe-
fied estate which may be held during the length of time so ascer-
tained. But as has been justly observed, "the basis of all ques-
tions having reference to the failure or continuance of life, is well
known to be the law of mortality, or the probability that a human
being, who may be in any given year of age, will die in that same
year. If this be accurately determined for each and every single
year in the natural life of mankind, all other questions whatever,
of a financial nature, are capable of precise solution, being merely
so many arithmetical results. The said probability, however, can
only be arrived at through the experience of what has already
happened to a great number of other human beings, all in the very
same circumstances with the person whose case is under considera-
tion. Finlaison's Report, 1. It is, therefore, clear, that to form a

just estimate of the present value of a life interest, the expected
duration of the life upon which it depends must be first ascei-

tained.

In all our inquiries for this purpose, it should be borne in mind,
however, that it appears from observations every where, that there
is an ultimate term beyond which human life cannot be extended:
that the days of our years are threescore years and ten, and if by
reason of strength they be fourscore years, yet is their strength
labor and sorrow. Psalms 90, v. 10; 2 Samuel 19. v. 32. And that
the extreme term of existence is not surpassed, because a greater
number, under some favorable circumstances, approach it. The
boundary seems to have remained impassable since the days of Eli
the priest, a period of at least three thousand years, who was
ninety and eight years old, and his eyes were dim that he could
not see; and he died, for he was an old man and heavy, and had
judged Israel forty years. 1 Samuel 4, v. 15-18. Neither does it
appear that the ordinary events of forming connexions in mar-
riage, and rearing families at the usual periods of life, have at all
varied within the same length of time. Finlaison's Report, 18;
2 Malth. Popu. b. 3, c. 1, pt. 80; Reply to Malth. 247. It must also
be recollected, that it has been observed every where and at all
times, that although more males than females are born: 2 Price
Obser. 105,127, 128; yet from birth, 2 Price Obser. 106, 131; to old
age, through every period of life, even that which is most perilous
to females, the time of child-bearing;* 2 Price Obser. 408, 230
442; the expectation of life is greater in favor of females,

and elementary facts on which the tables of life annuities, constructed by
him, are founded, 31 March, 1829.