Albuquerque citizen. [volume] (Albuquerque, N.M.) 1907-1909, 1908-12-15
NAT ATION SHOULD PROVIDE
ADEQUATE CARE FOR
OLD PEOPLE
Superannuated Wage Earn
erS Should Not be d
Burden on the
Country.
SEvERht EUROPEAN
COUNTRIES HAVE LAW
Massachusetts System Is Recon-.
mended as Good Example by
Speaker Before the Ma.
tional Civic FEEDER
alton.

| New York, Dec. l5.--The National
| Civic Federation which has been in
session here yesterday and today, this
morning heard the recommendation
of Louis d. Brandeis for the estab-
lishment of saving bank insurance
and old age annuity. as it has been
inaugurated In Massachusetts. Mr..
Brandeis said:
The United States, like the lead.
ing industrial nations of Europe, must
provide some adequate system Of old
age annuities for its superannuated
wage earners.
In England's most prosperous
years, one-fifth of her men and
women over 65 have been depend
ent upon the poor rates for bare sub
sistence; about another one-fifth
would have been dependent upon
poor rates but for aid given by pri-
vate charitable societies. relatives or
friends. In other European coun-
tries like conditions have led to COM
prehensive legislation. Germany has
Its compulsory old age insurance act.
England has just adopted a system
of old age pensions paid from ma
tional revenues.
| America mus protect heS supG Bn-
nuated wage earners from Want.
The only question open is-How
shall 1t be done?
Massachusetts, offers In her savings
oank insurance and annuity system
practical solution of the old age
problem, as well as a means OF fur
nishing protection to the family,
through life insurance, in case of pre-
mature death. The solution present
ed by Massachusetts, is consistent
with American traditions and ideals;
| 1t is consistent with moral and ma
terial welfare of the country. The
Massachusetts savings bank insurance
system has the following. among 9TH
er merits:
l. 1t enables the American wage
Garner to provide himself with abso-
lutely safe life insurance as well as
with an absolutely safe fixed income
in his old age, at the lowest possible
cost.
2. 1t gives the American wage
Garner an equal opportunity with the
business or professional man of Sc
curing financial independence in old
age (though of course on a different
scale), by enabling the wage Garner
to make payments monthly from cur
rent wages.
3. 1t is consistent with the Amer
lean ideas of civil liberty; for. unlike
the German system, it is not COM
pulsory or inquisitorial.
4. 1t makes the American wage
Garner independent in his old age in
stead of dependent upon state sup
port as under the English old age
pension system.
5. 1t relieves instead of further
Iburdening general taxation as do the
English and German systems.
The Massachusetts, savings bank in
surance system rests upon the prop
| osition that every reasonable indus
trious and frugal wage Garner has the
right to respect and should be enabl-
ed to secure financial independence in
his old age and to make a provision
for his family in case of his death.
1t recognizes that the cost of maxi
ing such provision is a part of the
current cost Of living necessarily in
cluded in the living wage
The Massachusetts savings insur-
ance system has been in operation
less than six months, but the expert
ence already had seems to establish
that its success will be complete. The
Whitman Savings bank-the first TO
open an insurance department-ls-
sued it's first policy June 22, 1903. 1t
now mas as agencies three savings
banks in other towns, namely. Bridge
water, Ludlow and Ware; and also
has twenty-six agencies established or
applied for with manufacturers, mer-
chants, trade unions and welfare in
stitutions in Boston, Lowell Spring
field. Haverhill, Cambridge, Framing
ham and Broohine. The People Saw
ings Bank OF Brocton-the second to
open as an Independent insurance de-
partment-did so on Nov. 2. 1t al
ready has thirteen agencies establish
ed or applied for, representing main
ly large manufacturing establish