Person NameMelrose Yearly Friendly Society
ActivityIn 1866, Melrose Yearly Friendly Society had 140 members, a president, secretary and treasurer. Each member paid 1s 2d per week. It gave its sick members an allowance of 5s a week for the first three months, 3s a week for the second three months and 2s a week until the close of the financial year. The widow or heirs were also paid funeral money at the rate of 6d per member of the society, or 3d per member at the death of a member's wife. The society would also lend money to its members on interest. Friendly societies existed in the 17th century but reached their peak in the 19th century. They were originally organisations that provided a mechanism for ordinary people to save or make provision for infirmity, old age, death or burial and are mutual benefit societies owned by their members. They were encouraged by the Registration of Friendly Societies Act 1793 (33 Geo. III, c.54). The Friendly Societies Act 1855 (18 & 19 Vict., c.63) established the Registrar of Friendly Societies. Some friendly societies also acted as social clubs and organisations and included the Free Gardeners, Oddfellows and Shepherds Friendly Society.
Corporate NameMelrose Yearly Friendly Society
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