Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-05-23

| NEUTRALITY-SUSPICIOUS. 7H7H7a~
| invented such an easy way of fulfilling or
| canceling obligations that proposed in
| this bill.
| Ostensibly the object of the bill is to re-
| move the inefficient and provide for the
| INDECENT. By its provisions it involves the
| retention for at least four years of all the
| inefficient who may at the same time be
old, and even after 1850 it involves the re-
| tention of nearly three-fifths of them still
| longer till they have the requisite service,
while in the meantime II will have taken
| out of the service much greater number
| Of persons who are still efficient, for inef-
| fic:ency is the exception and not the rule,
| at any age.
Who Will Get 1t.
| 1t will also pay the benefits to a much
larger number who are fairly we'll to do
| than of INDECENT ones, for INDECENT, again,
| is the exception rather than the rule. And
in providing for the indigent-most re-
markable feature of all-the bill ignores
the age and degree of decreptude. and even
| the degree of Indulgence itself and rates the
| individual benefit upon the salary the per-
son may have drawn! If any one can i'm
| agine anything more at variance with its
| svowed objects, 1 should like to know
| where 1t can be found. w. 4. CARR.
| Case Supposed.
| To the Editor of The Evening Star:
Many of my friends in the pension office
| fully approved of the suggestions | made
| in last Fridays Star tMdy 15) in the mat
ter Of evening up" each PERSONS share of
! the clerks dependent pension bill should II
become Law. Others did not fully under
| stand the plan outlined, but requested
! further particulars. VIII you kindly give
| 10 bat fnl
| comprehend the plan j advocated, for
think it is entirely different from all others
| Under discussion, and much more equitable
| to all concerned?
! As / said before, l have no argument to
| make with those who are opposed to any
| measure OF the kind upon principle; but to
| the great number who would favor a plan
! that would bear eQultably upon all, that
| would afford means OF relief to those who
| are unfortunate, that would be a savings
| bank to those who retire, and would pro-
| vide at least small sum for the families
| of those who die while in the service, 1 in
vite the most rigid investigation. If any
| one propose a better plan, l shall be
happy to hear its features.
| To be fully understood, let US assume
| the following: The salary, $1,000 a year:
| time o. service required for retirement, or
| for which the premium should be paid,
| thirty years; rate of premium, per cent Of
| the salary; rate of interest allowed upon
| the withheld premium, 4 per cent, COM
pounded annually.
| The principles involved would De the same,
| no matter what the salary, rate of pre-
| MUM, rate of interest or time requisite
| TO serve before eligible for retirement.
Suppose the law is passed and is to take
effect July 1. 1886. and retirements can be-
| gin July l, 1871 giving one year to accu-
| mulate a reserve fund; that A has served
thirty years. but has paid only for one year
| before retirement: has served fifteen
! years while g is clerk, and steps
/ into AS shoes when he retires.
| On this plan the premium would be $50 a
| year on 1000 and the annuity $3.50. The
| amount due in thirty years by paying $50
| year and placing II at per cent COM
| pound interest is Sl.14S..n, and this is each
| benefic.ary's just share of the reserve fund
| for each $1,000 salary; the larger the sal
| airy, of course, the larger the fund.
Many Figures.
| But upon the suppostion made, A has
paid but one year, amounting to SSl.2o. in
| GLIDING interest, if all paid in advance, and
| he Is still short Sl,111.30; how is this to
be ma lie up that no injustice may be done?
| By taking the $50 each year, the same as
| if he remained in office, and in addition,
| withhold / per cent for each year he has
| not paid, which, in this case. in - per cent
of $1,000, or $3.50, in all $50, from his an
nuty of $50, giving him $3.50 year until
| such a time as the $3.50 reserved each year
!
| in his just share Of the fund; after that
pay him the full annuity. AT the end of
| the first year his share of the fund, in
| Guiding interest, would be S3i3.20; the Sec
| ond year it would be s613.2o; the third,
| 81 ,O29.23; the fourth, 81 4W.4O, the fifth,
| 81, 1S6. 30; so it would not require quite five
years for him to have the required 81, III. 80
to entitle him to full pension. Death at
any time would stop payment of the an
| nuity, and the amount reserved would be
| q permanent addition to the fund
| Should 3 serve the remainder of his
| time, fifteen years. he would nave $623 ~
to his credit, and Is per cent of his salary,
| or $3.50 yearly, should be withheld until 1t
| amounts to the balance due for his share
of the fund, sl,125.07. c serves his full
| time, pays his yearly premiums, and re-
| tires upon full pay from the beginning
| Those who retire upon an annuity should
| thereby forfeit all rights to any snare of
the reserve.
But should clerk resign or get dis
| be becomes eligible, then the full amount
| to his credit in the reserve should be paid
| him at once; and in case of his death his
| family should receive it,
| The merits of this plan are it G2sses inn
mediate partial relief to those WHOM come
| disabled; 1t provides that each one shall
| pay just share into the reserve; it makes
savings bank for those who retire with
| out the annuity or in case of DEATH
Question of Investment.
In behalf of the retirement bill it can he
| said that it is next to impossible for peo-
| Pile to invest the small sums safely that
| they can by the strictest economy save
from their salaries, with a certainty Of 4
! per cent compound interest; that it is not
,mprovidence and high and rptous living
that keeps most of the clerks poor Just
| imagine high and riotous living for a
! family of from four to eight in Washington
| on 81 600 or 81 100 yeari
| Again, those who are well provided for
| in this worlds goods can easily afford to
lend the government 3 per cent of their
| salaries at 4 per cent compound interest :
| then IL they do not wish to take advantage
| of the provisions Of the law, they can re-
| sign few months before their period of
eligibility begins and thus withdraw the
| amount to their credit in the fund
| GEO. A. GILLILAND
| A WOmnn's View.
| To the Editor Of The Evening Star:
Like every other clerk, suppose, have
found the different yersicns Of the Tawney