Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1902-03-27

Association and Principal of School No
Five, Hoboken, to the Teachers Of Camden
and Gloucester Counties, Camden City, March
Is, 1902.
About twelve years ago three Hoboken
teachers met on street corner. They
spoke OF a teacher, once young, beautiful,
gifted, and the sole support of an aged
mother She had taught long and success
fully, but was then dying in poorhouse
Such an end to such career seemed to
these three teachers reproach to the pro-
fession of teaching.
Policemen and firemen are pensioned, y
said one, why not teachers % Then and
there they constituted themselves a com
mittee of three on teachers pensions Bill
after bill was introduced into the Legisla-
ture, only to fail from one occult reason or
another.
In going over my clippings recently
came across the following from prominent
paper: The Governor last evening vetoed
Miss Aliens teachers pension bill; it is
safe to assume that this much talked-of
scheme will never be heard of again. A
recapitulation Of the results of the "schemen
declared dead beyond hope of resurrection
proves that prophecy is hazardous &C.
cupation. y
In 1896 the Teachers Retirement Fund
Act became part of the public school sys-
tenn of New Jersey To January 1st, 1902,
forty-seven teachers had been retired on
annuities amounting to $14, 1926 a year.
Seven annuitants had died, leaving forty
annuities in force, aggregating $12, 491
annually, and averaging $312.27. The
To-, foY
increasing rapidly. All these applications,
as far as | can judge, are Legitimate, and the
applicants should be retired both for the
good of their classes and for reasons of
humanity. The income of the fund last
year was 500, 854. 40, of which So, 344 63 was
derived from bazaars, entertainments, gifts
ETC.; 81, 705 from interest, and the balance
from members dues, which, at an average
OF about Il cents a day, amounted to
SIS, S02,T. The endowment is already
above $61 900, which, invested at A per cent
(most of our investments are at 5 per
cent. J, yields enough to pay eight average
annuities. Interest is constantly grow
ing factor.
ENDOWMENT OF A MILLION WANTED.
In five years (that is at the end of 1907,
for this is largely year of organization
we hope to have an endowment of ST. ,O0O,-
600, and an income of not less than $780,
600. Do these figures appear extravaganza?
Believe me, they are reasonable compared
with the prediction five years ago that our
endowment would now amount to $61 900
and our income to $21, 900. We have
accomplished what was pronounced impos-
sible, and can do it again. Our prime OBJ
ject is to establish the fund soundly, there
fore only the interest of the endowment is
applicable to the payment of annuities.
Ii all the teachers of New Jersey were
members, and we believe they will be when
they fully comprehend the aims of the re-
tirement fund, the yearly receipts from
members dues would approach $4,000.
Interest on the endowment is now between
so, 400 and $4,000. A large amount is
expected from bazaars, entertainments,
gifts, legacies, etc., in the next few years.
The fund last year received its first legacy.
1t was So, 285. IA, half the estate of Miss
Emily S. Sayre, of Woodstown, Salem Co.,
who had been teacher for twenty-four
years, and who was member of the fund.
Recently Mr.. Lewis L. Elkin, of Philadel-
phia, left upwards Of 81 000, 900 to found a
retirement fund for unmarried female
teachers, disabled and without means of
support, who have taught twenty-five years
or more in the city. Our fund will be
aided in countless ways if the teachers
themselves will do their duty by their aged
and infirm comrades. Plans of increasing
membership, endowment and income are
being perfected, and will soon be before
the teachers Of the State. Every member
of the fund should be an active agent to
advance its interests