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" In order to balance the Sickness Fund, then, it is necessary, first to '« multiply the sum standing in the first Table opposite to each respective “ age, by the number of members at such age, and add the whole products “ together, which may be considered as the obligations due by the Society “ to its members upon this branch. Then take the Actual Sickness Funds 6 and to this add the Equivalents due by such members as are paying extra 66 contributions, which may be considered as the Funds which the Society “ have to meet the said obligations. If the obligations exceed the funds, the 6 difference is the deficit ; and if the funds exceed the obligations, the diffe. “ rence is the excess of stock.
“ By a similar operation the Funeral Fund may be balanced, only using 66 the other Table.
“ After the expenses attending the institution of the Society have been “ paid or ascertained, the amount of the Incident Fund can be fixed at a cer“ tain sum per member ; and as each member contributes at least L.1:5:6 “ towards it, the sum to be fixed will probably be from L.l, to L. 1, 58. 65 per member, and at this amount it ought strictly to be preserved. The “ disposable sum during the year will therefore be the Interest, the Fines, 66 and the shares of such members as die. To balance, it requires only to “ multiply the sum to be fixed, by the number of Free Members, adding “ the sums which have been paid by those who are not yet free.
“ Having now carried forward the Equivalent Tables to the age of 70, 66 and shewn what ought to be the interest of each member in the Society's “ Stock, at each respective age, there seems to be no obstacle to the admis.
sion of members at any age.
“ All that seems further necessary is to carry forward the Tables II, “ and IV. to the same age, so as to exhibit the corresponding extra Contri66 butions; and this shall forthwith be done if the Society require it.” (This has since been done.)
« As, during the eighteen months which elapse before a member becomes 66 free, no allowance is to be made either for sickness or funerals, it should be “ agreed that if any member shall die during that period, the whole sums “ contributed by him shall be repaid (under a small deduction), to his re
“ When a member has paid one-half, or any other proportion of his equie 66 valents, he should be relieved of one-half, or a like proportion, of his extra 6 contribution. Thus, an entrant at 45 years of age has L. 11 : 10 : 1 of
equivalents to pay; and in lieu of paying them, he pays 17s. 8d. per an. “ num, or 4s. 5d. per quarter, beyond the standard contributions. Now, if “ he pay one-half of these equivalents, he should be relieved of one-half of “ the extra contributions, or 28. 2 d. per quarter. A very simple me" thod, and one which, though not perfectly accurate, would come very “ near to equity, would be, to allow out of the quarterly contributions a “ deduction of one penny for every Five Shillings of the equivalents which “ have been previously paid up. This would be about correct at the age of 66 38, but those who are younger would be allowed a trifle more, and those 6 who are older a trifle less, than what is correct.”
Mr SKIRVING also furnished the Society with specimens of a proper set of books, excellently adapted to the above principles. To this gentleman, the Society is particularly indebted for the very great trouble and attention he has gratuitously bestowed on it, as well as for the perspicuous manner in which he has elucidated every thing connected with the management.
The Sick Allowances agree very nearly with what was anticipated. The Highland Society's Tables give a weekly sick allowance till 70 years of age of L. 1:0:7, during the whole period of sickness, for L. 1 of annual contribution; but, as already mentioned, if the allowances are to be continued through life, the same contribution will only afford 14s. 5d. weekly, both commencing at 21 years of age. Now, if our sickness were the same as stated in their Report, which amounts on an average to 98 weeks to each individual from the age of 20 till 70; then, as our contributions and allowances are to be continued through life, we could only give 7s. 2 d. per week. But as it appears, from the experience of the Journeymen Printers' Society, for 23 years, that the sickness to a Compositor is only 50} weeks, till even above 70 years of age, and making an allowance for an increased rate, from its being presumed that every one will now claim the allowances, it is calculated that there may be given 10s. weekly for the first 12 months; 75. 6d. for the second 12 months ; and 5s. for the remainder of sickness, until the death of the last member, even although the Society should at any time cease to receive young entrants ; which is nearly the same thing as if 10s. were paid during the whole period of sickness ;-since there has not been a single instance of a superannuated Compositor (i.e. one permanently sick beyond the first 12 months), during the whole period of the last 23 years. Although, therefore, it is more than probable that the reduced allowances will never be required, yet the stipulation is nevertheless absolutely necessary, it being quite possible that a member, even in very early life, might be afflicted with blindness, palsy, &c. and thus become through after-life a burden on the funds.
The higher rate of contribution for Funerals, again, is chiefly owing to the increased mortality between 20 and 30 years of age ; by which means both the contributions and interest of those who die within that period are lost, while the same sum is paid out as if they had died off at the later ages.
It has hitherto been a common practice with Societies, that their entrants should contribute to the funds a certain time before becoming free, or, in other words, before they should be entitled to the allowances. This, if the time be not too long, is certainly a proper regulation, for it both acts as a check against latent disease at entry, and accumulates a fund to defray incidental expences. With this view, therefore, this Society has resolved that the term of eighteen months shall elapse before a member can demand the allowances.
For the sake of simplicity, it has also been determined that such entrants as may be above 21 years of age,' shall either pay an additional sum of equivalent money, or an increased annual contribution ; partial payments of equivalents being allowed for the first eighteen months, and the increased contributions reduced in proportion as these are paid up. After eighteen months, however, it has been thought proper, for greater facility in keeping the books, to admit of no farther partial payments; the increased contributions being thereafter paid accorda ing to the rate to which they have been reduced, until the members may find it convenient to discharge at once the balance of their equivalents. But it must also be observed, that no part of the equivalents can ever be considered as paid by the increased contribution; this last being merely the interest which would have accumulated upon them had they been originally paid, with the proper sum added for the chance of the member's dying, Entrants may be admitted, upon paying the equivalents, to the age of 64 inclusive, after which the sickness fund is supposed to retrograde, (See Table, p. 17.); but it has been judged expedient, in order to prevent imposition from bodily debility or otherwise, that the equivalents of such entrants as are above 45 years of age should be reduced, by payments during the first eighteen months, to the sum of equivalents payable by an entrant of that age ; and, if the whole equivalents are not then discharged, that the proportional increased contributions should continue to be levied.
But, while the above measures are absolutely necessary for the permanence and security of Societies, it is also but right that members should be equally protected against personal loss. Thus, if a member, after having become free, should find it necessary, in the pursuit of business, or of other lawful purposes, to leave the kingdom, and it might therefore be inconvenient to continue in the Society, it is only fair, that, under some deduction, he should be entitled to receive the share of stock applicable to his age. Accordingly, three-fourths of the equivalents will be returned to any mem-' ber who, under such circumstances, may have occasion to withdraw from this Society.
These, then, being the measures adepted, and the able advice received, it may be confidently hoped, that, under proper management, THE EDINBURGH COMPOSITORS' SOCIETY will ultimately realize the most sanguine expectations of its members. But it is at the same time proper to add, that, while “ correct calculation may do much in placing Friendly Society Schemes us on a more secure footing than hitherto, still there are contingencies against “ which calculations made before-hand cannot guard, and which can only “ be obviated by attention to the progress of the Society's affairs, and by « accommodating their arrangements to their circumstances, as any peculiar “ contingency may require.”
W. FRASER. November 1824.
1. THAT this association shall be named The EDINBURGH COMPOSITORS' Society, and, as such, shall be open for the admission of Compositors only, of good health and character, to the age of 64.
2. The sole object of this Society shall be to afford Sick and Funeral allowances to its members; and no part of the funds shall be otherwise expended, unless in defraying the necessary expences incurred in the management.
3. As this institution disclaims every thing that bears the name or appearance of charity, all the members shall be placed on an equal footing, and all shall be entitled and considered to demand as their right the stipulated allowances.
4. Every entrant who is under 19 years of age shall pay the sum of 2s. 6d. of entry-money ; if above 19, and not exceeding 21 years of age, the sum of 5s. ; and 10s. annually thereafter, as Sick Contribution. But as 21 shall be considered the standardage of entry,every entrant above that age shall either pay an additional sum, in name of equivalent money, equal to what the individual stock of the member would amount to who entered at 21 years of age, or an increased annual contribution, as follows:
5. The weekly Sick Allowance shall be 10s for the first 52 weeks, 78. 6d. for the second 52 weeks, and 5s. during the remainder of sickness or superannuation; and these allowances shall be payable through life, or so lorg as a member may remain in the Society.
6. There shall be a distinct annual contribution for defraying the expences of Funerals, which shall be 45. 4d. from members who enter at or under 21 years of age; and members who enter at a more advanced age, shall either pay an equivalent entry-money, or an increased annual contribution, according to the following Tables.
7. The sum of Funeral-money payable by the Society shall be L. 10; and there shall be no other distinction between married and unmarried members, than that one-half of the funeral-money may be demanded in case of a member's wife predeceasing him, and the other half shall be payable to his representatives at his own death. · 8. Each member shall contribute to both the sick and funeral funds; and his contributions shall be payable quarterly as well-in sickness as in health, during the whole period of life, or so long as he may remain in the Society.
9. Should any member claim the advance of L. 5 at the death of his wife, and should his individual sick and funeral stock in the Society, after deducting all arrears, not then amount to that sum, he shall, before obtaining such funeral-money, find caution, to the satisfaction of the Preses and Treasurer, that he will not withdraw from the Society, or render himself liable to be expelled therefrom, until his sick and funeral stock do amount to the said sum of L. 5. " 10. Should any member have received L. 5 at the death of his wife, and thereafter be about to leave the Society, according to