Word: pensioners
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Dates: during 1930-1939
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...years ago when his famed Old Age Revolving Pension made amiable old Dr. Francis E. Townsend a figure on the U. S. political scene, the best he promised was $200 a month to every U. S. citizen over 60, a Government spending program of some $20,000,000,000 a year. Last week, good, grey Dr. Townsend was in eclipse but another major-league scheme to end all human woes was rising in the West. This was no less than the International Institute of Universal Research and Administration...
Meanwhile railroad operation costs have jumped on four fronts this year: 1) Cost of materials and supplies, particularly coal, are up about 12%, or $125,000,000. 2) Taxes, including those under the Social Security Act and pension laws, have risen $70,000,000. 3) New State laws, such as those limiting train length and increasing train crews will cost $12,000,000. 4) A 5?-an-hour pay raise granted Aug. 1 to 750,000 non-train railroad workers (clerks, signalmen, etc.) will cost $100,000,000. The five big brotherhoods of railway trainmen for a month have threatened...
...easy for Britons to see how War Secretary Hore-Belisha could devise still more startling stunts. His plan proved to be merely a scheme for persuading soldiers now completing their initial seven years' service to sign up for another 14. The inducement: a life pension of 34 shillings ($8.50) a week. To 90,000 who have recently done their seven years and left the army, the War Secretary offered the same terms if they would return to the colors. The average Tommy could not see what the fuss was about. To him the solution was crystal-clear-more...
President Marcellus Lindsey Joslyn tried to explain this away as a product of the company's pension system started in 1919. If his pension system did not deserve all the credit, yet it still remains after 18 years quite as notable as this year's increase in profits. The company neither advertises nor seeks publicity, so the Joslyn plan never made much stir until last winter when the company prepared to sell $1,350,000 worth of common stock. Financial writers then discovered Marcellus Joslyn's old labor policy, adopted during the post-War period of strikes...
...Joslyn workers receive the fruits of their savings and the company's profits in a lump sum which often not only provides for them but makes them comparatively rich. The fund now totals $742,600 and payments totaling $266,000 have already been made. One recent pension was a check for $35,000. A Joslyn worker who has contributed to the fund since 1919 now has a retirement credit nearly half of all his wages during the period. If he retires or is discharged before he is 60 he gets all he put in but only half what...