Articles of the Annuitant Society. To the Editor of the OXFORD MAGAZINE. 13 SIR, BOUT the year 1766, feveral perfons entered into a fociety under the title of A the Laudable Society for the benefit of age, and fince that time leveral other bodies of people have published their schemes to the world; but not one of them appears to me fo well calculated for general utility as The Public ANNUITANT SOCIETY. The plan, it must be allowed, is greatly fuperior to any thing hitherto offered to the public; it is built upon a more permanent foundation, and ufhered into the world with greater credit and reputation, as it is countenanced by Sir Richard Glyn, Bucnet, who is the prefident. I fhall not fay any thing invidious with regard to fome other focieties, but I cannot help obferving, that I had much rather become a member of The Public ANNUITANT SOCIETY than any other: I therefore hope, that, for the good of the public you will infert, in your next Magazine, the inclosed pro pofal, which will doubtlefs oblige many of your readers, and particularly, your molt humble fervant, THOMAS BÉNNET. THE PUBLIC ANNUITANT SOCIETY. Calculated to produce a FUND to fupport the SURVIVING MEMBERS, on a NEW PLAN. To commence January the 21t, 1771; under a deed to be inrolled in the High Court of Chancery. Held at the Queen's Arms Tavern, in St. Paul's Church-Yard. TERMS OF ADMISSION. tefan of either fex, being Pro I. II. Thofe who commence members between the ages of forty and fifty years, muft continue fuch for feven years before they are entitled to thirty pounds per annum; and ten years before they are entitled to fifty pounds per annum. III. Every person who thall become a member at the age of fifty years or up wards, all be entitled to the whole annuity of fifty pounds at the end of feven yeas; a circumftance, tho' extremely equitable, that has not been attended to by any other fociety. IV. That every member shall continue their ufual quarterly payments, until they are entitled to fifty pounds per annum, and afterwards no more than the fum of one pound ten fhillings quarterly. V. Thofe members who are prevented, by indifpofition or infirmities, from attending to receive their annuity, may, by a power of attorney and a proper certifcate of their being alive, empower any other pern to receive it for them. VI. The annuitants are to be paid quarterly. VII. The directors will meet to admit members the 1ft and 3d monday in every month. VIII. Two general meetings of this fociety fhall be held every year, viz. the fecond monday after midfummer and Chrißimas-day. IX. Every perfon, when required by the directors, fhall produce a certificate, affidavit, or affirmation of their age; and without fuch certificate, affidavit, or affirmation, they fhall not be entitled to receive their annuity. member is to pay 57. 3d. over and above X. Every perfon, to be admitted a the money fpecified in the tables, as a provifion for contingent expences. XI. Perfons becoming members, whose Guineas, may pay it at two quarterly admiffion fine does not exceed twenty payments; and if more than twenty, at three quarterly payments. XII. The money receive will be depofited in the hands of Sir Richard Glyn, Bart. and Thomas Hallifax, Eiq; bankers; and from time to the invested in the public funds, in the names of the prefident, vice-prefident, and four other directors to be named by the focicty. To 14 Articles of the Annuitant Society. To the PUBLIC. Tis a general and juft obfervation, that the plans hitherto propofed for the benefit of those who fhall attain the age of fifty years or upwards, are calculated greatly in their favour who enter about the middle age of life, and are highly difadvantageous to those who enter at an earlier or more advanced period: in all the focieties of that kind hitherto exifting, if any one enters a member at fixty, or even feventy years of age, he mult continue fo ten years before he becomes entitled to receive any aunuity; and a perfon of only forty becomes likewife entitled at the end of ten years: we flatter ourselves therefore that our plan is upon a more equitable footing for aged members; and alfo more worthy the attention of younger members than any yet extant. It will appear by the propofals annexed, that every one who enters under forty years of age, becomes entitled to his annuity of thirty pounds at the age of forty-feven, and fifty pounds per annum at the age of fifty; and every perfon who becomes a member between the ages of forty and fifty years, will be entitled to an annuity of thirty pounds a year at the end of feven years, and fifty pounds at the end of ten years, from his entrance; and any one who enters at, or after, the age of fifty, is entitled to the whole annuity of fifty pounds at the end of seven years. It is easily conceived, for example, that when a perfon of fifty or fixty years of age fall become a member, an annuity for fuch an advanced life, at the end of feven years, is infinitely more pleafing in profpect, than the fame annuity at fo diftant a period as that of then years: and on the other hand, a life so young as thirty-four or thirty-five, must be much better pleafed with the expectation of fucceeding to a comfortable provision at forty-feven than at fifty, To defcend to particulars is unnecessary. The nature of the plan is fo very obvious to thofe who perufe the tables, that we cannot entertain a fingle doubt but every man of candour will pronounce it the moft eligible that has yet appeared; and we have the fatisfaction of knowing, that when we become entitled to the annuity, there will be a very ample fund to pay it with. N. B. This Society has only had one meeting to admit members, when, I am informed the two firft tabies were entirely filled. Their next meeting, is on Mon day the 4th of February. Tables for the admitting Members into the Annuitant Society. 15 TABLE the Firft, for the ADMISSION TABLE the Third, until our Number of MEMBERS. is Three Hundred. 56 18 19 0 10 16 6 18 644 O 45 6 46 29 19 30 I I 31 I 3 051 032 I 6 53 33 I 8 654 33222 2 69999639 17 0 40 062 061 3 15 0 3 13 42 3 O 063 3 11 TABLE the Second, until our Number TABLE the Fourth, until our Number 16. Tables for the admitting Members into the Annuitant Society. TABLE the Fifth, until our Number is Number of 8 Members. 39 TABLE for ADMISSION FINE S. 36 35 34 33 32 31 30 29 28 27 26 25 24 of of of of of of of of of of of of of of 25 to 2 Gui. Gui. Gui, Gui. Gui. Gui. Gui. Gui. Gui. Gui. Gui. Gui. Gui. Gui. Gui. Gui. Gui. Gui. Gui. Gui. Age. Age Age Age Age Age Age Age Age Age Age Age Age Age. Age Age Age Age Age Age Any Perfon may be admitted on the Terms of the First TABLE, until our Number fhall be One Hundred; on the Terms of the Second TABLE, until our Number fhall be Two Hundred; and fo on, by the other TABLES, till our Number fhall be Five Hundred; and afterwards by such -TABLES as the MEMBERS fhall agree to offer to the PUBLIC. The above Tables fufficiently point out the Advantage of becoming early a Member of this Society as there is a gradual Advance both on the Admiffion Fine, and the Quarterly PayHunment, at the clofe of every dred Members. 13 II 6 6 7 4 |