Meanings (ES + gloss)
tontina
A form of investment in which, on the death of an investor, his share is divided amongst the other investors.
There were many speculative schemes which gambled on the expectation of an individual's life, as in the tontine system, whereby all the group's contributions went to the last survi…
When Joseph Finsbury and his brother Masterman were little lads in white-frilled trousers, their father—a well-to-do merchant in Cheapside—caused them to join a small but rich tont…
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