Transactions of the Highland and Agricultural Society of Scotland Volume 6 (Paperback)

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. 1824 Excerpt: ... derived from two sources; 1/, The interest of a capital of about L. 500; and, 2d, Such annual contributions as the seamen could afford. The late Reverend Mr Wilkie of Cults, a writer upon annuities, and the father of the celebrated painter, had the goodness to report upon the subject: but the contri VOL. VI. S butions, as proposed by Mr Wilkie, were higher, and the allowances lower, than those of neighbouring Friendly Societies; and much difficulty was felt in persuading the seamen of the propriety of the scheme proposed;--the amount of capital accumulated by neighbouring boxes decidedly out-weighing, in their consideration, every other authority. One seaman, who had been in three society-boxes, all of which had failed, exercised considerable influence in repressing the desire of his brethren for high allowances; and finally matters were arranged on a medium between the scheme of Mr Wilkie and the practice of the neighbouring societies. Mr Wilkie had stated the impossibility of establishing accurate calculations for Friendly Societies' schemes, till the average rate of sickness among mankind should be ascertained. He proceeded on the supposition that one-twelfth part of the members would be constantly sick. This proportion, according to the experience of the Society, has proved too high; for, notwithstanding the allowances established are higher than those proposed by Mr Wilkie, the society now possesses a revenue of L. 50 a-year from land purchased, and a small sum laid out at interest; and, calculating by the Tables subjoined, it is found to be in a condition to fulfil its present engagements for sick allowances, funeral money, widows' pensions, and aids to orphans. On the other hand, the affairs of the neighbouring societies, whose example was recommen...