Page:American Journal of Sociology Volume 2.djvu/525

 SYSTEM OF LABOR PENSIONS AXD LVSCKAXCE

about equal to the annual pensions paid. Hence, for several of the past years there have been no annual contributions to this fund a striking vindication of the system. Unless the num- ber of the employes should greatly increase, no further contri- butions to this fund will be necessary. The experience of twenty years has proven that a contribution of $4 per annum for each employe is ample to assure the security of the fund. The accompanying table shows the wages paid and the contributions to the pension fund during a period of twenty years.

TABLE OF WAGES PAID AND CONTRIBUTIONS COMPOUNDED AT 6 PER CENT.

TO PENSION FUND

Year

Number of males employed

Total annual wages

Average wages per employ^

Pension con- tribution (i per cent, total wages)

Amount compounded at 6 per cent.

l8?4..

31

$13.613.60

S43Q.I 5

^136.14

$436.59

l875.. .

70

17,477.00

7415.46

134.73

407.69

1876

35

13,212.00

377.49

132.12

377.07

1877.. ..

18

14,100.00

771.05

141.00

379.71

l8?8

6l

10. 421. 00

208 27

104 21

403.20

1870

70

27.Q30.00

202.01

230 30

573.6O

l88o.

Q8

H.2CC.66

>l8 04

312 56

706.60

1881

140

C6.Q7I.75

782.36

560 72

I 215.21

1882..

274

127,813.87

466.47

1.278 14

2.571.62

188-?.

240

00.477.40

276.07

004 73

I.7I7.IQ

1884..

IQC

71,475.28

366.54

714.75

1,280.12

1885...

201

Q3.6iq.47

465.77

036 10

I.58I.23

1886..

162

129,312.19

357.21

I.2Q3 12

2,061.24

1887...

352

158,033.08

448.96

I.58O 33

2,376.82

1888

7Q7

172,152.88

568.16

I t 72 J.C7

2.442.85

1880...

207

161,807.83

544.80

1, 6 1 8.08

2,164.99

1890

77Q

151,346.75

458.62

1. 513 47

1,909.99

I go I

338

17? 548.18

484 77

I 735 48

2 066 96

1802

47.2

21 1.203.7^

488 00

2 II203

2 373.03

1 80 1

1 1 }

208,012.76

460 56

2 080 1 3

2 204.04

$1.934,776.05

$19,347.76

$29,341-73

The life insurance system has been more general in its appli- cation. Premiums to the amount of $36,505.65 have been paid. The face value of the policies now in force is $182,000. In addition to these, several policies of $1000 each were turned over to the firm which recently purchased the shoe manufactur- ing department of the enterprise. The families of five deceased