SECTIONAL TRANSACTIONS.—F. 411 
6. Prof. James A. Freup.—Eugenic Worth and Economic Value. 
The attempt to dispose of population problems in terms of the limits of 
gross subsistence seems to overlook the most interesting and some of the most 
important aspects of the case. It is by no means clear that the ideals professed 
in formulating broad population policies are quite consistent with the standards 
which govern our system of economic rewards. The present paper is an attempt 
to outline an inquiry on this point, and to relate it to the general subject of the 
standard of living. 
Monday, August 11. 
7, Prof. A. L. Bowtey.—The Economic Outlook in Great Britain. 
The position in 1924 is compared with that in 1914, in respect of population, 
employment, prices, wages, income, production, and trade. The standard of 
living is at present stabilised at the pre-war level, though working hours are 
reduced. Necessary imports are obtained in return for reduced exports. The 
problem of employment is still to a great extent cone of post-war adjustment. 
In a few years’ time the increase in the number of the employable population 
will be checked. Certain adjustments in distribution of occupations and in 
relative wages are necessary, but till European affairs are more settled it cannot 
be foreseen whether increase 1n external or in internal trade should be the 
objective. Meanwhile, there is little development in home industry, and it is 
doubtful whether output can be increased without an extension of the working 
week, or whether full occupation can be found without reduction in real wages. 
None of the difficulties envisaged are insuperable, and the adjustments necessary 
are of a minor character. 
8. Unemployment Prevention and Insurance.—(a) Prof. J. R. 
Commons, (b) Mr. Bryce M. Srewarr. Discussion. 
Mr. Bryce M. Srewarr.-—One of the most significant of the recent experi- 
ments in unemployment insurance is that initiated in May 1923 under an 
agreement between the associations of men’s clothing manufacturers in Chicago 
and the Amalgamated Clothing Workers of America. It is the most pretentious 
scheme in America, and an outstanding example of unemployment insurance by 
industry. 
The Union acquired control of the allocation of labour in the Chicago market, 
employing about 35,000 workers, under a preferential agreement signed in 1919. 
Anticipating the adoption of unemployment insurance, the Union in 1922 
organised a central employment exchange, which plays an important part in 
the administration of the scheme. 
Under the plan each employee contributes 15 per cent. of his wages and the 
employer an equal amount. About eighty of the larger firms have individual 
house funds, but the contributions of the smaller firms are pooled. Employers 
who give regular employment are encouraged by a provision that when a house 
fund has accumulated an amount sufficient for the payment of the maximum 
benefit for two years, the contributions of the house and of the employees 
shall cease until the fund has been depleted to an amount sufficient for one 
year’s benefit. The joint contributions for the whole industry in the year ended 
April 30, 1924, totalled slightly over one million dollars. 
Administration is vested in four boards of trustees chosen by the employers 
and the Union. The chairman, Prof. John R. Commons, of Wisconsin Univer- 
sity, was appointed by both parties. He presides over all the boards. 
Payment of benefit began May 1, 1924. Benefit is paid for part-time 
unemployment as well as for lay-off, and the waiting period in each case is 
44 hours, which is the regular weekly working period. Workers on short time 
receive benefit for all time lost in excess of four hours in the week, every hour 
of overtime offsetting one hour of unemployment. The benefits are 40 per cent. 
of the full-time wages, with $20 per week as a maximum, but not more than 
two and one-half weeks’ benefit may be paid in either of the two working 
seasons, and not more than five weeks’ benefit in the year. 
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