Three Candles

In August 1935, Franklin Roosevelt signed the Social Security Act. Last weekend the third anniversary of Social Security was celebrated with speeches by Franklin Roosevelt, John L. Lewis of C. I. O., William Green of A. F. of L. and a statement by Chairman Arthur J. Altmeyer of the Social Security Board.

Franklin Roosevelt said: "If the people . . . had chosen a reactionary administration or a 'do nothing' Congress, Social Security would still be in the conversational stage. . . ." John Lewis said: "We shall press for future advances. Much remains to be done to insure an adequate program. . . ."

Chairman Altmeyer said: "No legislation in our time has so taken hold of America. . . . In three years we have made astounding headway." He forecast extension of Social Security benefits to agricultural labor and domestic servants, increased benefits for persons already covered, perhaps health protection.

The provisions of the Act require keeping track of the earnings of nearly 40,000,000 persons. For this, the world's biggest accounting job, the Social Security Board has 10,000 employes. As part of Social Security's third birthday party a three-year summary of facts and figures was issued:

P: Total of Social Security taxes collected: $888,000,000. Of this sum about $738,000,000 consisted of old-age retirement taxes (at present 1%) paid by 38,265,000 wage-&-salary earners and 1,787,000 employers on earnings up to $3,000 a year. The remaining $150,000,000 consisted of unemployment insurance taxes, paid by 302,000 employers only, on a graduated scale which began at 1% in 1936, is now (and henceforth) at 3%.

P: About 1,000,000 unemployed now receive insurance benefits, averaging around $10 a week.

P: Amount of unemployment benefits distributed in the first six months of 1938: $180,000,000.

P: Regular monthly payments under old-age insurance do not start until 1942 but beginning in 1937 lump-sum payments have been made to persons reaching the age of 65. Total sum of such payments to date: $6,000,000.

P: Pensions (outside the insurance system and paid for half-&-half by the Federal Government and the States) are now being made to 1,700,000 aged poor people (average $19.26 a month), to 39,000 needy blind (average $23.18), to 243,000 families with dependent children (average $31.30).

P: Interest collected to date by the Social Security fund on its investment of Old-Age reserves in Government Securities: $18,000,000.

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