The Washington times., 1911-01-24
Civil Pension System
Matter of Real Economy
By WALTER ]. FAHY.

NEW YORK, Jan. 24.-"The day
civil pension is authorized by law, that
day the officials of the several depart
ments in Washington will be in a posi-
ton TO reorganize their departments, 10
put them on a real business basis, TO
demonstrate that a civil pension system
is real economy and that it will be
worth millions of dollars to the Gov
ernment annually"
This statement, which goes to the
Nerv bottom of the question of civil pen
gions for Government clerks, was made
TODAY to correspondent of The WASH
ingt0n Times by George w. Perkins. 1t
is doubtful if there is another man IN
the United States better qualified TO dis
cuSS the subject of pensions than MI
Perkins. 1t IS certain that there is no
man in the country who has made such
an extensive study Of that subject.
Mi Perkins is unqualihedly in favor
of q pension system for the Government
employees. He favOrs it not only be
cause he thinks the clerks are entitled
70 it. but also because it is good buSi-
ness proposition.
Made a Study of Pensions.
Nj Perkins recently announced his in
tention q retire as a member of the
firm of J. Pierpont Morgan & Co. In
stead OF continuing to devote his atten-
ton to one of the strongest financial in
stitutions in the world. Mr.. Perkins de-
-cIded to give his entire time TO the
promotion of a movement in the bust
ness world which he declares should be
adopted by the Government without fur
ther delay, namely, The penSiOning of old
employees.
MIR Perkins interest in the clerk who
becomes old in the service of his en-
ployer, whether that employer be a pri-
Vetc individual, L corporation, or the
iG To,,t cd = h. in
teerst born of experience, and is the
fesult of a lifelong study of what he
believes to be one Of the greatest prob
t8Hns facing the American people.
MIR. Perkins knowledge of this sub
jeCt was not gained by poring over sta
tistics in the seclusion of his office. He
knows the difficulties which beset the
clerks on every hand, because he began
life as clerk
His Ability Was Recognized.
That he did not continue as a clerk is
due to his extraordinary business abil-
ity-an ability so great that it was de-
tected by ]. P. Morgan soon after the
two men met, and which was recognized
when Mr.. Perkins was invited to become
a member of the Morgan firm.
Mr.. Perkins began his business career
as clerk in the Chicago office of the
New York Life Insurance Company.
Since that time his activities have COW
cred a wide range, but at no time has
he lost his interest in the welfare of the
men who work for a weekly wage. To
him is given credit for the establish
ment of the protit-sharing scheme of
the United States Steel Corporation; to
him is due the credit for the establish
ment of the pension system in prac-
tically every corporation with which he
has been associated.
Mr.. Perkins has never had any reason
to regret his activity in behalf of the
aged employees of the corporations with
which he has been connected. He is
firmly convinced that If a corporation
finds ii profitable to pension its old en-
ployes the Government also viii find it
profitable.
That Mr.. Perkins has had ample op-
pOrtunity to study the conditions of en-
ployes throughout the country is demon
strated by the fact that he is today an
influential factor in numerous corpora
tions, nearly every one of which has
adopted the pension system.