6d. augments be stock to 119,444 15 6 Six thousand two hundred persons claiming help, which falls, to be sure, on the aged and infirm, I think, at a modest computation, in five years' time 500 of them may be dead, which, without allowing annually, we take at an abatement of 4,000 pounds out of the charge 4,000 0 0 Which reduces the charge to 23,500 0 0
Besides this, the interest of the quarterage, which is supposed in the former account to lie dead till the year is out, which cast up from quarter to quarter, allowing it to be put out quarterly, as it may well be, amounts to, by computation for five years, 5,250 pounds.
From the fifth year, as near as can be computed, the number of pensioners being so great, I make no doubt but they shall die off the hands of the undertaker as fast as they shall fall in, excepting, so much difference as the payment of every year, which the interest of the stock shall supply.
For example: Pounds s. d. At the end of the fifth year the stock in hand 94,629 15 6 The payment of the sixth year 20,000 0 0 Interest of the stock 5,408 4 0 ================== 120,037 19 6 Allow an overplus charge for keeping in the house, which will be dearer than pensions, 10,000 pounds per annum 10,000 0 0 Charge of the sixth year 22,500 0 0 Balance in cash 87,537 19 6 ================== 120,037 19 6
This also is to be allowed--that all those persons who are kept by the office in the house shall have employment provided for them, whereby no persons shall be kept idle, the works to be suited to every one's capacity without rigour, only some distinction to those who are most willing to work; the profits of the said work to the stock of the house.
Besides this, there may great and very profitable methods be found out to improve the stock beyond the settled interest of 7 per cent., which perhaps may not always be to be had, for the Exchequer is not always borrowing money; but a bank of 80,000 pounds, employed by faithful hands, need not want opportunities of great, and very considerable improvement.
Also it would be a very good object for persons who die rich to leave legacies to, which in time might be very well supposed to raise a standing revenue to it.
I will not say but various contingencies may alter the charge of this undertaking, and swell the claims beyond proportion further than I extend it; but all that, and much more, is sufficiently answered in the calculations by above 80,000 pounds in stock to provide for it.
As to the calculation being made on a vast number of subscribers, and more than, perhaps, will be allowed likely to subscribe, I think the proportion may hold good in a few as well as in a great many; and perhaps if 20,000 subscribed, it might be as effectual. I am indeed willing to think all men should have sense enough to see the usefulness of such a design, and be persuaded by their interest to engage in it; but some men have less prudence than brutes, and will make no provision against age till it comes; and to deal with such, two ways might be used by authority to compel them.
1. The churchwardens and justices of peace should send the beadle of the parish, with an officer belonging to this office, about to the poorer parishioners to tell them that, since such honourable provision is made for them to secure themselves in old age from poverty and distress, they should expect no relief from the parish if they refused to enter themselves, and by sparing so small a part of their earnings to prevent future misery.