Dualism is the philosophical exposition of the nature of things by the hypothesis of two dissimilar primitive principles not derived from each other. Dualism in religion is chiefly confined to the adoption of a belief in two fundamental beings, a good and an evil one, as is done in some oriental religions, especially that of Zoroaster.
In metaphysics, dualism is the doctrine of those who maintain the existence of spirit and matter as distinct substances, in opposition to idealism, which maintains we have no knowledge or assurance of the existence of anything but our own ideas or sensations. Dualism may correspond with realism in maintaining that our ideas of things are true transcripts of the originals, or rather of the qualities inherent in them, the spirit acting as a mirror and reflecting their true images; or it may hold that, although produced by outward objects, we have no assurance that in reality these at all correspond to our ideas of them, or even that they produce the same idea in two different minds. Research Dualism
Dion Boucicault (real name Dionysisus Lardner Bourcicault) was an Irish author and actor. He was born in 1822 at Dublin and died in 1890. Educated at Bruce Castle School, Tottenham and London University he was intended for an architect, but the success of a comedy, the well-known London Assurance, which he wrote when only nineteen years old, determined him for a career in connection with the stage. He first appeared on the London stage at the Princess' on the 14th of June 1852 in his own play 'The Vampire'. Dion Boucicault being a remarkably facilewriter, in a few years had produced quite a lengthy list of pieces, both in comedy and melodrama, and all more or less successful. We may mention Old Heads and Young Hearts, Love in a Maze, Used Up, the Corsican Brothers.
In 1853 he went to America, where he was scarcely less popular than in England. On his return in 1860 he produced a new style of drama, dealing largely in sensation but with more heart in it than his earlier work. The Colleen Bawn and Arrah-na-Pogue are the best examples. Indeed the best Dion Boucicault could do was such pictures of Irish life and manners. As an actor he was clever, but not highly gifted. His dramatic pieces are said to number more than 150. Research Dion Boucicault
The Battle of Rasin River was a decisive defeat of the Americans by a combined British and Indian force during the War of 1812. General James Winchester with about 1000 Kentuckians, under orders of General Harrison, erected fortifications at the rapids of the Maumee. After this was done he sent ahead two-thirds of his men to drive the British from Frenchtown and, on the success of this movement, himself followed with the rest of his forces. Here he was attacked by General Proctor with 1500 British and Indians on January the 22nd, 1813. Taken by surprise the Americans, after a brief defence and the loss of over 190 men to almost no British loss, routed and fled to the woods. A surrender was effected with full assurance of safety and over 700 prisoners taken. The captives were hurried to Maiden, leaving the sick and wounded Americans behind. These were at once massacred by the Indians, save a few who were taken to Detroit for ransom. Research Battle of Rasin River
A1 is a description of property or a person that is in the best condition. In marine insurance, before a vessel can be insured, it has to be inspected to check its condition. If it is 'maintained in good and efficient condition' it will be shown in Lloyd's Register of Shipping as 'A' and if the anchor moorings are in the same condition the number '1' is added. This description is also used in life assurance, in which premiums are largely based on the person's health. After a medical examination a person in perfect health is described as 'an A1 life'. Research A1
In business, an accumulation unit is a unit in an investment trust in which dividends are ploughed back into the trust, after deducting income tax, enabling the value of the unit to increase. It is usually linked to a life- assurance policy. Research Accumulation Unit
An annuity is a contract in which a person pays a premium to an insurance company, usually in one lump sum, and in return receives periodic payments for an agreed period or for the rest of his life. An annuity has been described as the opposite of a life assurance as the policyholder pays the lump sum and the insurer makes the regular payments. Annuities are often purchased at a time of prosperity to convert capital into an income during old age. Research Annuity
A building society is a financial institution that accepts deposits, upon which it pays interest, and makes loans for house purchase or house improvement secured by mortgages. They developed from the Friendly Society movement in the late 17th century and are 'non-profit' making - the reality however is that the directors receive large sums of money in wages and bonuses.
The early building Societies were joint-stock benefit societies for the purpose of raising by periodical subscriptions a fund to assist members in obtaining small portions of landed property and houses, which were mortgaged to the society until the amount of the shares drawn on was fully repaid with interest. These societies were divided into two sections: the Proprietary and the Mutual Societies. The former class took money on deposit, paying a somewhat higher rate of interest than could generally be had on money available at call, and gave loans for building purposes, or the like, repayable by instalments. The profit of the company lay in the difference between the rate charged to borrowers and the rate paid to depositors.
The Mutual Societies were of two chief kinds, either limited to a certain term of years and confined to a certain number of members, or permanent, and not confined to any definite number of members, but ready to receive new members as long as the society existed. A favourite form of terminating society allotted its capital among the members, according to the number of shares they held, by ballot. The subscriptions were paid weekly or monthly, and on securing an 'appropriation' the member repaid this sum very much as he would have paid his rent, over a term of years, at the end of which the house or land became his own. He also maintained his small subscription, and at the winding-up of the society was entitled to a share of the profits.
Terminable societies were giving place to the permanent kind by 1910. These, by the constant admission of new members, have a constant supply of funds at their disposal, and are thus able to supply the demands of all the borrowers; while the security offered to investors induces many people to enter the society merely with the view of having a convenient means of depositing their savings, and not with the intention of acquiring any real property for themselves.
Building societies are regulated by the Building Society Act (1986). The societies accept deposits into a variety of accounts, which offer different interest rates and different withdrawal terms, or into 'shares', which often require longer notice of withdrawal. Interest on all building- society accounts is paid net of income tax, the society paying the tax direct to the Inland Revenue. The societies attract both large and small savers, with average holdings being about 5000 pounds.
Loans made to persons wishing to purchase property are usually repaid by regular monthly instalments of capital and interest over a number of years. Another method, which is growing in popularity, is an endowment mortgage in which the capital remains unpaid until the maturity of an assurance policy taken out on the borrower's life; in these arrangements only the interest and the premiums on the assurance policy are paid during the period of the loan. Since the 1986 Act, building societies have been able to widen the range of services they offer; this has enabled them to compete with the high-street banks in many areas. They offer cheque accounts, which pay interest on all credit balances, cash cards, credit cards, loans, money transmission, foreign exchange, personal financial planning services (shares, insurance, pensions, etc.), estate agency, and valuation and conveyancing services.
The distinction between banks and building societies is fast disappearing, indeed many building societies have obtained the sanction of their members to become public limited companies. These changes have led to the merger of many building societies to provide a national network that can compete with the Big Four banks. Competition is well illustrated in the close relationship of interest rates between banks and building societies as they both compete for the market's funds. Moreover, the competition provided by the building societies has forced the banks into offering free banking services, paying interest on current accounts, and Saturday opening. Research Building Society
Capital-gains tax (CGT) is a tax on capital gains. Most countries have a form of income tax under which they tax the profits from trading and a different tax to tax substantial disposals of assets either by traders for whom the assets are not trading stock (e.g. a trader' s factory) or by individuals who do not trade (e.g. sales of shares by an investor). The latter type of tax is a capital-gains tax. Short-term gains taxes are taxes sometimes applied to an asset that has only been held for a limited time. In these cases the rates tend to be higher than for the normal capital- gains tax. In Britain, capital-gains tax applies to the net gains (after deducting losses) accruing to an individual in any tax year, with an exemption to liability if the individual's gains do not exceed a specified figure. Other exemptions include gains on private cars, government securities and savings certificates, loan stocks, options, gambling, life- assurance and deferred- annuity contracts, main dwelling house, and works of art.
The rate of tax is the taxpayer's marginal tax rate. An indexation allowance is available when calculating a chargeable gain or allowable loss based on the Retail Price Index between a date fixed by the Chancellor, or, if later, the month of purchase and the date of sale. Research Capital-Gains Tax
Collateral is a form of security, especially an impersonal form of security, such as life-assurance policies or shares, used to secure a bank loan. In some senses such impersonal securities are referred to as a secondary collateral, rather than a primary security, such as a guarantee. Research Collateral
The Probert Encyclopaedia was designed, edited and programed by
Matt and Leela Probert
Abbreviations
Research Dualism
