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 780 THE AMERICAN JOURNAL OF SOCIOLOGY

offers greater advantages as one is in receipt of higher salary and pays a larger premium. With the European systems the reverse is invariably true. In Berne and Cologne, to be sure, the distinction is that of being married or not, yet the premium being the same it is equivalent to a distinction in the amount of income. As might be expected there is a great divergence as to the absolute size of both premiums and benefits, in the Amer- ican case both being far larger. As to the ratio of premiums to wages the relation can be determined only in three cases. In the Chicago system the ratio varies from 1.4 per cent, to 3.3 per cent.; in the St. Gall system from .8 per cent, to 1.2 per cent.; in the Bale system from .66 per cent, to 2.5 per cent. The relative merits in this respect are quite similar to those elabo- rated above. And, as with the above, the American system dis- criminates in favor of the one with the larger income, while with the European systems the reverse is the case.

Such a comparative study is quite misleading without consid- eration of the sources of the funds. The commercial company, as a matter of course, has no source of support save the contributions of members, though guaranteed by private capital as an invest- ment. The Cologne Insurance Society receives funds from four sources. First, the contributions of those insured. Second, from subscriptions of members of the society. This member- ship is acquired by the annual payment of five marks. Work- men not desiring insurance are allowed to become members upon the payment of three marks in twenty-five pfennig monthly installments. Third, from the subscriptions of employ- ers, societies, clubs, etc., which may become honorary members upon the payment of any sum not less than 300 marks. Fourth, from the city of Cologne. In this way 40,000 marks were accumulated before the payments of benefits were begun. Since the first period of operation (December 15, 1896, to March 15, 1897) nas not expired, no comparison of contributions of the insured with contributions from all other sources can be made.

As stated above, the Bologna system was instituted by the Bologna Savings Bank, which appropriated the interest upon