SMART, John. ~ Tables of Interest, Discount, Annuities, &c. London: J. Darby and T. Browne, 1726.
4to (265 × 200 mm), pp. [8], 123, [1], with half-title, letterpress tables throughout. Contemporary sprinkled panelled calf, spine gilt. Rubbed, extremities with further slight wear, slight loss to headcap of spine. Old bookplate of Thomas Best, Park House, Boxley, Kent. A very good copy.
First edition, much extending and improving Smart’s earlier work of 1707, Tables of simple Interest and Discount. Dedicated to the governor or the Bank of England, William Thompson, his deputy, Humphrey Morice and the bank’s directors, they proved to be among the most used tables of interest of the eighteenth century. There were two further printings in 1747 and 1780. Included are tables of simple and compound interest, discount as well as tables to calculate the value of annuities on lives and numerous worked examples of their use. It concludes with a survey of the history of British currency and coinage, which includes consideration of unlawful usury and coin clipping, as well as other legal considerations. In the 1707 Tables of simple Interest and Discount Smart described himself as of ‘the Town Clerk’s office, London’, whereas by 1726 he could describe himself as ‘of Guildhall, Gent.’ Other sources show he was Clerk to H. M. Commissioners of Lieutenancy for the City of London, 1714-1739, and Deputy Town Clerk until his death in 1742. Of Tables of Interest, Discount, Annuities, McCulloch wrote in his 1871 Dictionary of Commerce: ‘They are carried to 8 decimal places, and enjoy the highest character, both here and on the Continent, for accuracy and completeness. The original work is now become very scarce.’ The work also holds a significant place in the history of actuarial science, since he noted in his discussion of annuities the need for accurate tables of mortality and the systematic recording of ages of death by parish clerks (p. 113), a recommendation that was soon adopted for bills of mortality, at least in London.
The owner of this copy, Thomas Best (1753-1815), was part of the wealthy Best brewing family of Kent, was educated at Eton and Cambridge, and became an officer in the West Kent militia. Goldsmiths’ 6485; Kress 3666.