SOCIAL SERVICE: Benefits Eternal

“The best news from Capitol Hill in many days” was what President Roosevelt said when he heard last week that Congress had finally polished off and approved the Social Security Bill. Only one major change had been made in the measure in conference: killed was Senator Clark’s amendment to permit companies with private pension systems to retain them instead of contributing to the Government’s system. A fight over the deletion was averted by a gentlemen’s agreement that the subject of private pensions would be studied with a view to amending the bill later.

What the bill as passed meant was that: 1) aged poor pensioned by states would be given an equal pension by the Federal Government, up to $15 a month; 2) unemployment insurance (maximum: $15 for 26 weeks a year) would be established as soon as states passed appropriate laws; 3) workers who reach 65 after 1941 would receive Federal annuities; 4) eventually some 30,000,000 persons would receive such federal benefits; 5) taxes on payrolls and wages to provide these benefits will begin with the collection of about $230,000,000 in 1936 and amount to about $3,000,000,000 a year by 1950.

At the White House with pen in hand Franklin Roosevelt waited, eager to sign.