Ratepayer

“ Under the wage contract the employer, as the one best prepared to do it, takes the risk as to the future selling price of the product; the worker gets in a definite sum at once the market value of his services. Wage payment, therefore, is a form of insurance to the workingman; he gets something definite instead of taking chances he is ill prepared to take. Wage payment is a form of credit to the laborer whose labor is applied to producing the goods for customers distant in time and in place. ”

“ The custom of keeping the spare cash reserved for immediate use or against contingent demands, in the hands of a banker, and making all payments, except small ones, by orders on bankers, is in this country spreading to a continually larger portion of the public. If the person making the payment, and the person receiving it, keep their money with the same banker, the payment takes place without any intervention of money, by the mere transfer of its amount in the banker's books from the credit of the payer to that of the receiver. ”

“ A basic premium rate, to apply for the ensuing calendar year, is fixed annually for each class, which takes account of its cost experience over a two-year period and of the condition of the class fund. At the same time a premium rate of each employer is fixed with relation to each class, also to apply for the ensuing year, which takes into consideration the employer's average cost experience 'for each workman hour reported by him during each fiscal year * * * over the five-year period' immediately preceding the determination. ”

“ Officers being entitled to halfpay, such as choose to emigrate, should have provisions &c allowed them as above & quarterly notes with interest for three years full pay to commence & be computed from the time they begin their march, in full discharge of all such half pay. As I have already observed that it may be objected depreciations & other payments have been made good; but can a just debt be equitably discharged by certificates of very small comparative value, or depreciated paper money? Certainly no, consequently the States are still bound to make good the deficiency. ”

“ When no rate is fixed by the laws of the State, or Territory, or District, the bank may take, receive, reserve, or charge a rate not exceeding 7 per centum, or 1 per centum in excess of the discount rate on ninety-day commercial paper in effect at the Federal reserve bank in the Federal reserve district where the bank is located, whichever may be the greater, and such interest may be taken in advance, reckoning the days for which the note, bill, or other evidence of debt has to run. ”

“ The usual rates are 1⁄8 per cent. commission on English and 1⁄4 per cent. upon foreign and colonial coupons, but, as a matter of fact, certain managers keep a list of those persons who refuse to pay these charges, while they who do not protest, no matter how large a sum they may keep to their credit upon current account, are made to pay the ordinary rates. It is only fair that a person whose average credit balance does not exceed £50 should pay a rate; but when a man keeps from £250 to £500 and above on the right side, the banker can quite well afford to forego his charge. ”

“ Bankers, like individuals, are the slaves of their environment, and in the Midlands and elsewhere, where it is usual to allow a rate on the daily balances, commission is also charged on the turn-over or sums debited. Interest upon the daily creditor balances is allowed at, say, 11⁄2 per cent. below bank rate, and a commission of 1⁄8 per cent. is charged on the cheques a customer draws. The lower the rate of interest and the higher the commission rate, the more profitable, of course, is the account to the banker. ”

“ The customer, therefore, when checking his banker’s charges and allowances, will take care that he is receiving the maximum rate of interest, and paying the minimum or lowest commission rate, which varies from 1⁄8 to 1/16 per cent., while it is sometimes possible to arrange for a reduced and merely nominal charge. A person, when he sees a “little interest” credited in his pass-book, is disposed to increase his balance, on the assumption that he is being allowed a rate ”

“ In all cases to which the minimum rate is applicable an employer shall, in the absence of a written agreement to the contrary, pay to the person employed wages at not less than the minimum rate, and, in the absence of any such agreement, the person employed may recover wages at such a rate from the employer ”

“ It requires every employer to pay every employe engaged in commerce, or in the production of goods for commerce, at the rate of not less than twenty-five cents an hour for the first year, not less than thirty cents an hour during the next six years, and not less than forty cents an hour after the expiration of seven years. The Administrator is given no authority to issue any orders concerning these prescribed rates or their application in industry, with the sole exception about to be mentioned. ”

“ But after the receiver has performed all obligations due the public and every member of it—that is to say, after carrying passengers and freight offered, for a reasonable compensation not exceeding the maximum authorised by law, if such maximum rates shall have been prescribed, upon equal terms to all, he may make for the litigants as much money as the road thus managed is capable of earning. ”

“ I simply said that if you look at the economic principles of a lump-sum payment in the form of a $300 check, as been given before, or a $500 check for a worker in this plan, or a $1000 check for a family that has two workers, that economic studies show that lump-sum payments tend not to be spent out as quickly or as fully because people and consumers recognize that it's a one-time payment that they're not going to see during their next paycheck. ”

“ Provided also, that every such Occupier who shall pay any such Rate or Rates, or upon whose Goods and Chattels the same shall be levied, shall and may deduct the Amount of the Sum or Sums which shall be so paid or levied out of any Rent payable by such Occupier to the Person or Persons rated; and such Payment shall be a sufficient Discharge to every such Occupier for so much of such Rent accordingly. ”

“ The lowest rate, he tells us, at which advances used to be obtained from capitalists, even upon the land-tax, which seems to have been considered the surest part of the national revenue, was eight per cent., although repayment was made within the year, and premiums were generally granted to the subscribers. On anticipations of other taxes, counting premiums, discount, and interest, the public had sometimes to pay twenty, thirty, and even forty per cent. ”

“ Those that remain unpaid have been long pending. The beneficiaries thereunder have every reason to expect payment. These claims have been examined by the Court of Claims and their validity and amount determined. The United States ought to pay its debts. I recommend action by the Congress which will permit of the payment of these remaining claims.
THE WAGE EARNER
Two very important policies have been adopted by this country which, while extending their benefits also in other directions, have been of the utmost importance to the wage earners. ”

“ Substantial import of the third question is whether the complainants are liable under the internal revenue acts to pay a duty of one-twenty-fourth of one per cent. per month on the average amount of money which they receive and invest or loan, as described in the statement of facts exhibited in the record.
Their powers are set forth in their charter and the other acts of the legislature to which reference has been made. ”

“ Twenty per cent. additional pay is allowed by the joint resolution of the twenty-eighth of February, 1867, to certain persons or classes of persons therein described, who are employed in the civil service of the United States in this city, whose salaries, as fixed by law, do not exceed three thousand five hundred dollars per annum, to be paid out of any money in the treasury not otherwise appropriated. ”

“ Each land agent and labourer being a Retainer of the Company shall receive and be paid a fixed salary in return for his services and shall not by perquisites commissions or any other means whatever either directly or indirectly receive or acquire any pay profit emolument or advantages whatever other than such fixed salary from out of or by means of his office or position as a Retainer of the Company. ”

“ Nor can a litigant insist that a commission may not take a second step in a rate-making process without retracing all previous ones. As put by the Chief Justice: 'The establishment of a rate for a regulated industry often involves two steps of different character, one of which may appropriately precede the other. The first is the adjustment of the general revenue level to the demands of a fair return. ”

“ In the ordinary affairs of life, no one stops for refined analysis of the nature of a premium, or considers that the periodic payment universally called 'interest' is in part something wholly distinct ”

“ Bonus and other charges and loans to you are as high as the companies can get. Some of them ask the highest usurious rates allowed by your different legal state rates, and other charges are added—as much as they can milk out of you. ”

“ With respect to payment to a person of more than the correct amount, the Secretary shall decrease any payment under this subchapter to which such overpaid person is entitled, or shall require such overpaid person or his estate to refund the amount in excess of the correct amount, or shall decrease any payment under this subchapter payable to his estate or to any other person on the basis of the wages and self-employment income which were the basis of the payments to such overpaid person, or shall apply any combination of the foregoing. ”

“ The American government provides that the paymaster shall take charge of any funds that the men do not wish to draw, and it pays a high rate of interest on these deposits. Thus, large numbers of our men have saved several thousand dollars out of their pay, and yet have lived well and had money to spend all the time. ”

“ As regards old-age pay, a purchaser can, by adopting a slightly higher scale of payment, secure the return of his purchase money if at any time before the annuity falls in he repents of his bargain. Further, employers of labour and friendly societies can, on behalf of their workmen or members, make all the payments necessary to buy an insurance or annuity, and recoup themselves out of wages or members’ contributions. ”

“ The term ‘‘debit’’ refers to the net total amount, when positive, by which costs recorded on the PAYGO scorecards for a fiscal year exceed savings recorded on those scorecards for that year. (6) The term ‘‘entitlement law’’ refers to a section of law which provides entitlement authority. (7) The term ‘‘PAYGO legislation’’ or a ‘‘PAYGO Act’’ refers to a bill or joint resolution that affects direct spending or revenue relative to the baseline. ”

“ The employer of a workman holds his livret as a pledge. When he receives money in advance, the sum is written in his book, and it is a debt there chargeable as a deduction of not more than one fifth upon all future employment, until it is paid. The workman when travelling must have his livret viséd ”

“ Rate regulation can well be confined to rates in the aggregate, rate-making applies to the adjustment of individual rates, and must necessarily be the work of men well versed in all the varied elements which control it and the particular conditions affecting the business of each particular road. ”

“ How these two gentlemen of eminent talent could be imposed on in the adoption of the new rate, which in the case of the old member who entered at thirty-six years, compels him to pay a surcharge of $64.18 per annum more than necessary to carry his risk, or in his expectancy a total of $1,226.98 more than he should pay, or 70 per centum more than his equitable share, is more than we can understand. ”

“ Some associations have a fixed or established premium rate, and under such circumstances loans are awarded to the members in the order of their applications or by lot. The premium may consist of the amount which the borrower pays in excess of the legal interest, or it may consist of a certain number of payments of dues or of interest to be made in advance. ”

“ And as these loans are intended to assist young married artificers in setting up their business, they are to be proportioned by the discretion of the managers, so as not to exceed sixty pounds sterling to one person, nor to be less than fifteen pounds; and if the number of appliers so entitled should be so large as that the sum will not suffice to afford to each as much as might otherwise not be improper, the proportion to each shall be diminished so as to afford to every one some assistance. ”

“ The payment by each employer is to be a contribution amounting to two per cent of his pay-roll and to be reduced to one per cent when the accumulated reserve per employee shall have exceeded fifty dollars. ”

“ Another view is that the underwriter impliedly undertakes to repay sums which the law may require the assured to pay towards averting losses which would, by the contract, fall upon the underwriter. Expenses voluntarily incurred by the assured with that object are expressly made repayable by the sue and labour clause of the policy. It might well be implied that payments compulsorily required from the assured by law for contributions to G.A., or as salvage for services by salvors, will be undertaken or repaid by the underwriter, the service being for his benefit. ”

“ The British Government, from the time of the completion of the line, and so long as it shall continue in working [Pg 83] order, undertakes to pay at the rate of fourteen thousand pounds a year, being at the rate of four per cent. on the assumed capital, as a fixed remuneration for the work done on behalf of the Government, in the conveyance outward and homeward of their messages. This payment to continue until the net profits of the Company are equal to a dividend of six per cent., when the payment shall be reduced to ten thousand pounds a year, for a period of twenty-five years. ”