This historic book may have numerous typos and missing text.
Purchasers can download a free scanned copy of the original book
(without typos) from the publisher. Not indexed. Not illustrated.
1905. Excerpt: ... $200,000, that is a sufficient amount of money
to be saved by the government, if it can be done, and 1 believe
that under the Keep Commission's plan it can be saved. I believe
that that is the intention erf the plan and it will so oderate. It
should be borne in mind that this report of the Keep Commission's
sub-committee is only the report of a sub-committee, that it has
not been considered by the committee itseH, and from talks that I
have had with one or two members of the committee I think that I am
safe in saying that it is the consensus of opinion of the Keep
Committee that as to the provision for paying 4% compound interest
on money held idle in the Treasury, a provision will be made to
change that so that the Secretary of the Treasury will be empowered
to invest the money at the most advantageous rates for the
government and the employees concerned. And it seems to me that
that matter is rather one of detail than an objection going to the
vital principle of the scheme on which this plan is based. It is a
detail that can be worked out. It is mathematical rather than a
thing of principle. Your sub-committee in its report lays special
stress on three things: first, on resignation, then on 4?
compounded interest, and then on the question of insurance plans,
an insurance company. 1 think the committee has not properly
diagnosed the case so far as it is affected by the matter of
resignations. The Keep Committee's plan provides that if the person
has been 20 years in the service and his accumulations amount to a
thousand dollars he may resign and take his money with him and get
the benefit of the 4% compound interest. But the gentleman should
have mentioned this also I think: that after a man has been in the
service 20 years, suppose he were appointed at ...
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|Country of origin:
||246 x 189 x 16mm (L x W x T)
||Paperback - Trade
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