Annensky — Annuities to the annexation so inherited. In view of the many variable and indefinite factors which go to determine the fesults in this situation, it is held that the annexing state may decide for itself, if the matter is not regulated by the agree- ment for cession, what obligations it will assume as a result of annexation, subject to these gen- eral principles. Treaty obligations of the an- nexed territory are inherited by the succession state, where the annexed unit does not retain power of discharging such obligations itself, subject to similar principles. The law of private relations, and private rights and obligations thereunder, remain unaltered, subject to the authority of the new sovereignty. Historically annexation has been extremely important in the relations among the European nations and in the development of the United States. The former have not only in past cen- turies annexed vast colonial territories in the Americas, in Africa and Asia (relatively uncom- mon application of the term), but have also from time to time annexed from one another metro- politan territories in Europe itself (Alsace-Lor- raine, Poland), usually as a result of conquest. ‘Lhe United States annexed vast territories on the continent of North America and, later, overseas, mainly as a result of purchase, with some admixture of conquest. The acquisition of original title by discovery and occupation of new Jand being now no longer of great impor- tance, it seems probable that annexation as a basis of national territorial sovereignty will grow in importance in the future. But the decreasing discretion of the nation in controlling use of its own territory, as a result of increased inter- national supervision (internationalization, man- dates, minority protection, etc.), together with the growing tendency to restrict freedom of an- nexation (“no annexations,” Article 10 of the Covenant, demand for plebiscites) may counter- bglance this influence. Any arrangements for revision of the territorial status quo by inter- national agreement, implicit in the outlawry of conquest, would further emphasize this change. Moreover there seems to be some decline in the eagerness of states to make anncxations of territories, continental or colonial, populated by hostile peoples or by backward races requiring expensive tutelage by the administering state. The future of annexation as a form of state ac- tion is problematica Pitman B. Porter ‘See: Conquest; Cxsston; ALLEGIANCE; PLEBISCITE; SELF-DETERMINATION, NATIONAL; TERRITORIES, 69 Unrrep States; CoLontes; IMpEniatism; MANDATE; ALSACE-LORRAINE, Consult: Hertslet, Edward, The Map of Europe by Treaty, 4 vols. (London 1875-91); Fauchille, P., Traité de droit international public (8th ed. of Bonfils? Manuel), 4 vols. (Paris 1921-26) § 216-20, 427-325 Hall, W. E., Treatise on International Law (8th ed. Oxford 1924) §§ 30-42; Hershey, A. S., Essentials of In= ternational Public Law and Organization (rev, ed. New York 1927) §§ 169-84, 125-30; Hyde, C. C., Inter- national Law, Chiefly as Interpreted and Applied by the United States, 2 vols. (Boston 1922) §§ 98-133; Liszt, F. von, Das Volkerrecht systematisch dargestellt (12th ed. Berlin 1925) §§ 17-18; Luter, J. de, Le droit international public positif, 2 vols. (Oxford 1920) § 203 Phillipson, C., Termination of War and Treaties of Peace (New York 19:6); Kunz, J. L., Die walker rechtliche Option, 2 vols. (Breslau 1925-28). ANNUITIES are yearly or other periodic pay ments of a certain surn of money granted to one for life, years or in fee, chargeable upon the person of the grantor (Sir Edward Coke, circa 1615, et al). The annuity is often confused with a rent charge, which is a charge against lands in the hands of the purchaser and arises out of the land itself. It should not be confused with gifts of incomes from funds, with incomes or profits indeterminate in amount, or with in- comes from ordinary legacies, however payable. ‘The periodic payment of sums certain, charge- able upon rights and personal property, seems to have become obsolete. Annuities may provide sums certain either for others or for oneself. The first type of annuity is the older. It is of testamentary character and takes the place of a legacy in the lump. In modern times this form of annuity i used in connection with marital separation agreements and as provision for wayward or spendthrift children. Provision for self, or jointly for self and spouse, seems to be the prevailing practise. The annuity may have been in vogue in ancient India, China, Babylon and Assyria. Annuities were granted in Egypt at the close of the twentieth dynasty (Setnakht). The Romans bought and sold annuities. Early in the Middle Ages in England and in northern Europe an- nuities chargeable against the person of the grantor evolved from payments charged against lands, rights, tolls and personal property. From the eleventh to the fifteenth centurics the expense of petty wars in Italy, Germany, England, Flanders, Brabant and elsewhere was met by loans repayable as annuities chargeable against the credit of the cities and countries involved. Loans for the general purposes ofcities, repayable as annuities, for life or years (singly or jointly), or in perpetuity, were often resorted to (Tournai, Bruges, Nuremberg, Florence, Ghent). The “tontine,” a pseudo-annuity, arose toward the end of the seventeenth century as a result of the attempt of Mazarin and Colbert to resuscitate French finances. Lorenzo Tonti, the inventor of this plan, proposed that a fund of 25,000,000 livres be collected and each year interest be paid thereon at a lower rate to younger members and a higher rate to older entrants into the fund. Subscribers were to be divided into ten age classes, each constituting a closed group, surviving members of each class receiving annually a pro rata share of the interest fund allotted to the class. After the death of the last subscriber the original fund reverted to the state. Tontine loans were also issued in Am- sterdam (1671), Groningen (1671) and in other places on the continent. Tontine practises survived into the eighteenth century. The calculation of annuities passed from a guesswork basis to one based upon observations of human mortality in the seventeenth century, chiefly as the result of the work of Jan de Witt, who in 1671 presented his famous report to the Parliament of Holland and West Friesland. This report contained the table of minimum values to be accepted in return for life annu- ities, the principal sums to be used in financing the wars which threatened Holland at that time. ‘The English government attempted for the first time in 1692 to raise money through life annuities. The granting of life, deferred and term annuities in England supplemented the earlier instruments of tallies, navy and ex- chequer bills. During the cighteenth and nine- teenth centuries annuities accompanied the state lotteries, lottery loans, the issue of con- solidated 3 percent stock, the victualing bills, tariffs and other sources of the king’s revenue. Annuities have becn employed in American finance only once—by Hamilton in the funding of the revolutionary debt. The common or formal types of annuities now in vogue may be divided into two main classes: annuities certain and contingent annu- ities. An annuity certain is a series of payments made at equal intervals over a fixed period of years. The contingent annuity is one for which the date, either of the first or last payment, depends upon the happening of some event, the time of whose occurrence cannot be foretold. Annuities certain may have the first payment Encyclopaedia of the Social Sciences at the end of the first period (immediate annu- ities); at the beginning of the first period (annuities due); or the first payment may be made after the lapse of a given number of years (deferred annuities). When annuity pay- ments continue forever they are said to be perpetuities. ‘The simplest form of contingent annuity is the whole life annuity, ic. payments are made throughout the life of an individual. Life annu- ities are often granted jointly to several lives, or as long as one, at least, of several lives survives. An annuity is said to be forborne when the payments are not taken when they fall due but are left to accumulate at compound interest. In annuity calculations it is necessary to approximate from tables of the probability of human survival and of compound interest the present value of the series of payments. When the payments are made at equal intervals and in equal amounts for a stated number of years, (n), the present value (a) and the amount when forborne (5,,) may be expressed as sums of geometric series, that is: ay = VE efop es. and: Set HDEC HIF + (r+ tt (ret (4a Sa = a i ‘To introduce the life contingency element in the simplest manner it is necessary to take into account, with the present value of each pay- ment, the probability that the annuitant, or receiver of the payments, will survive a given number of years (n). ‘That is: ne +P + td, + OD. + where o = (14 i)-tand 4p, probability of a person aged x surviving m years. The commuta- tion columns (invention of John Nicholas Tetens, 1786) of the life table chosen for the given class of annuitants may be used to sum such series. The mathematics of the annuity has engaged the attention of the ablest of minds —De Moivre, Dodson, Simpson, Price, Euler, ‘Tetens and others. In modern practise one finds the annuity form expressed in retirement and disabilityAnnuities — Anson pensions, in the “income” or “instalment” settlement features of ordinary life insurance, in the disability annuity annexes of life insur- ance and in the wide variety of annuity con- tracts per se offered by insurance institutions. In recent years the sales of annuity contracts have increased remarkably. Since 1916 the companies reporting to the New York Insur- ance Department show an increase of 160 percent in sums received and of 120 percent in the reserves set aside for annuity payments. The total reserve fund so held by these com- panies in 1926 was approximately a quarter billion of dollars. Insurance students feel that with the prospect of an increase in the purchasing value of money and a decrease in the yield on fixed- rate securities available to the private investor, moneyed persons in the United States will be attracted more and more to the certain proceeds of an annuity. The wage working population also may benefit in the future from the in- creased sales of the retirement and disability annuities now available on the “group” plan. Under this plan the consideration for the an- nuity is paid for jointly by employer and em- ployee. These annuities are sometimes com- bined, in one arrangement, with group policies for life, health and accident. Deferred annuities for persons not covered by industrial or establishment pension systems seem to meet with particular favor at the present time. These are paid for by the pro- spective annuitant in lump sum carly in life, or in instalments during the working period of life or through a combination of these two methods. The first payment to the annuitant usually begins at age 60 or 65. If the annuitant dies before the annuity payments begin, the return, without interest, of the amounts paid in can be arranged (“‘refunding” or “guaranteed minimum return” contracts). Epwin W. Korr ‘See: Rent Cuarce; Dest, Pustic; Lar INSuRANCE; PENSIONS. Consult: Baily, Francis, Doctrine of Life Annuities and Assurances, 2 (London 1813); Walford, Cor- nelius, “Annuities” in his Insurance Cyclopedia, 6 vols. (London 1871-80) vol. i, 98-168; Institute of Actuaries, London, Textbook of the Principles of Interest, Life Annuities and Assurances, 2 vols. (London 1901-02) vol. i; Avery, John M., “The Nature of an Annuity” in Association of Life Insur- ance Counsel, Papers (1928) 65-81; Kopf, Edwin W., “Early History of the Annuity” in Casualty Actuarial Society, Proceedings, vol. xiii (1926-27) 225-66, 71 ANSELM (c. 1033-1109), theologian and phi- losopher. In 1093 he was chosen archbishop of Canterbury, and a quarrel ensued with William Rufus concerning investitures and homage. This seemed to Anselm to involve the fundamental question of the liberty of the church and resulted in a trip to Rome in 1097. ‘There he took a prominent part in the Council of Bari (1098) and the Synod of Rome (1099), where the decrees against simony, concubinage of clerics and lay investiture were renewed. After the death of William Rufus he returned to England and after some difficulties reached an amicable agreement with the new king, Henry 1. The terms are not definitely known but it appears from contemporary documents that Henry gave up his claim to the investiture of bishops and agreed to abstain from arbitrary interference in their election. ‘The pope, how- ever, scems to have agreed temporarily that bishops should pay homage to the king. Aside from his important role in the inves- titure controversy, Anselm was a towering figure in scholastic thought. His writings com- prise, in addition to philosophical and peda- gogical works (De veritate; De grammatico), a discussion of all the theological themes which agitated his time—the freedom of the will, the humanity of Christ, the sacraments, the Holy Ghost and the fall of the devil. On the crucial question of the existence of God, Anselm’s ontological proof is classic. The collected works of Anselm appear in J. P. Migne’s Patrologia latina (vols. clviii-clix, Paris 1863-65), which contains also Eadmer's Vita S. Anselmi (vol. clviii, cols. 49-134). Riciiard McKeon Consult: “Anselm von Canterbury als Vorkimpfer fur die kirchliche Freiheit des elften Jahrhunderts” in Historisch-Politische Blatter fur das katholische Deutschland, vol xii (1858) 535-61, 606-27; Church, R. W., Saint Anselm (London 1873); Rule, M., Life and Times of Saint Anselm, 2 vols. (London 1883). ANSON, WILLIAM REYNELL, Barr. (1843-1914), English law teacher and’ educa- tional leader. In 1874 he became Vinerian reader in English law at Oxford; in 1881 he was elected warden of All Souls, and became vice chancel lor of the university in 1898. He was active in the revival of the study of law at Oxford, and his work there resulted in a succession of impor- tant law textbooks for students and in the establishment in 1884 of the Law Quarterly Review. Anson’s writings are characteristically