Benefit or Frietidli/ Societies. 135 



members entering a society at 21 years of age, would amount to witli interest, 

 when the survivors arrived at the age of 70, and also at the death of the last 

 member ; and likewise what L. 1 of weekly sick allowance paid to each of these 

 members during sickness, would amount to with interest at 70 ; also, what an 

 allowance of L. 1 for each death would amount to with interest, at the death 

 of the last member. From comparing these, it was found, 1st, that if each 

 member were to pay an annual contribution of L.l, from commencing his 

 21st till concluding his 70th year of age, should he live so long, and then to 

 cease contributing, such annual contribution would afford a weekly allowance 

 during sickness from 21 to 70, of L.l : : 7; 2d, that a like contribution would 

 afford to each surviving member, during life, after his 70th year, a life annul, 

 ty or permanent annual allowance of L.58 : : 24 Sterling ; and, 3d, that a 

 like annual contribution would afford a sum payable at the death of each 

 member of L.59 : 19 : 2. 



In order to illustrate these calculations, and to exhibit, in the simplest 

 form, a view of the course of affairs in a Friendly Society, it was resolved to 

 " adopt the supposition of a society of persons entering in the 21st year of 

 their age, and continuing united till all the members may be supposed to be 

 dead, the society to commence with 1005 persons, and to admit no future en- 

 trants. In tracing the progress of this society year by year, till all its mem- 

 bers, according to the table of mortality, may be supposed to be dead, there 

 is seen the accumulation of its stock for a long period, then its diminution, 

 and at the death of the last member, its final extinction. Hence the means 

 are given to draw conclusions applicable to all Friendly Societies at what- 

 ever age entrants are admitted ; for the same terms of contribution and al- 

 lowance calculated for a society which admits no new members, are applicable 

 to a society which is continually recruited by new members of the age for 

 which the calculations are made, or to a society admitting members at later 

 ages, upon payment of a proper fine or regulating payment. •" With a view, 

 also, to accommodate the payments to the circumstances of every individual, 

 the contributions were contemplated under three different aspects : " 1st, as 

 paid and accumulated annually ; 2d, as superseded by a single payment made 

 at the commencement of the scheme, in lieu of all annual contributions ; and, 

 3d, as superseded at any later age, between 20 and 70, by a single payment 

 then made in lieu of all contribution afler such later age. +** As explanatory 

 of these calculations, numerous tables and rules are given for all the four 

 scliemes, and from which there may likewise be deduced, by the ordinary 

 rules of Proportion or llule of Three, the necessary contributions for any 

 other allowances than those therein assumed. As the tabular form, however, 

 will illustrate to ordinary readers the operations of a Friendly Society more 

 distinctly than any brief set of rules wliich could here be given, we have 

 compiled the following table from those of the Sickness Scheme given in the 

 Report. 



* Report, p. 48. t Report, p. 68. 



