264 THE ADDRESSES, LECTURES, ETC., UF 



the master can reach the employe, in another way. It is a matter 

 of great congratulation to see at many large works benefit 

 societies established in which the workmen share all alike ; and, as 

 example is perhaps always worth more than mere argument, I 

 would on this occasion mention the pension fund, which it occurred 

 to me, in connection with my own co-partners, to establish at the 

 works with which I am connected. Eight years ago we established 

 such a fund at our telegraph works at Woolwich, and the principle 

 we adopted was somewhat of a novel character ; but having been 

 for eight years very successful, I think it might not be disagree- 

 able to bring the facts before you. At the time we commenced 

 we paid into the pension fund 1,847. This fund is maintained 

 by annual subscriptions, not by the workmen, but by the em- 

 ployers, who every year pay 1 per cent, of the amount of wages 

 they give to the workmen into this fund, out of which pensions 

 are paid to any workmen who are disabled from age or other cause, 

 and in the event of the death of a workman a pension is paid to 

 his widow or orphans. The amount of this pension depends in a 

 great measure on the length of time during which a man has 

 served the firm and the number of individuals to be provided for. 

 This fund is administered by one representative of the firm, who 

 presides over the committee of management. A permanent secretary 

 is also appointed by the firm, and six employes are elected to represent 

 the workmen. The fund has been found amply sufficient to pro- 

 vide for all those who have been disabled and would otherwise 

 have been without resources during their illness. More than that, 

 capital has accumulated from 1',800 to nearly 5,000, at which 

 it stands at the present time. It may be said " Why should a man 

 benefit from a fund to which he does not contribute ? " Well, I 

 think we acted wisely in not making them contribute, because, in 

 virtue of that provision, we, and not the men, are masters of the 

 fund. If a man discharges himself he takes with him no right to 

 the fund, and it is only in case he remains in the service that he 

 acquires an accumulating interest in the fund, and thus he 

 " affectionates " himself towards his employers and towards the 

 concern. By giving this additional amount of 1 per cent, we get 

 better service and work, and I believe that in a similar way a much 

 better feeling might be established. The fund with which we deal 

 here this evening is also based upon the " home " principle. The 



