The Chatham Chest was a fund set up around 1590 to pay pensions to disabled seamen. It was financed by members' contributions which were deducted from their pay, and has therefore been described as the world's first occupational pension scheme. The assets of the scheme were held in an actual chest which is also called the Chatham Chest. The Chest was previously located in the National Maritime Museum at Greenwich, London., and is now on display at The Museum of the Royal Dockyard, in Chatham Historic Dockyard.
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Famous quotes containing the words chatham and/or chest:
“If I were an American, as I am an Englishman, while a foreign troop was landed in my country, I never would lay down my arms—never—never—never!”
—William Pitt, The Elder, Lord Chatham (1708–1778)
“This socialism will develop in all its phases until it reaches its own extremes and absurdities. Then once again a cry of denial will break from the titanic chest of the revolutionary minority and again a mortal struggle will begin, in which socialism will play the role of contemporary conservatism and will be overwhelmed in the subsequent revolution, as yet unknown to us.”
—Alexander Herzen (1812–1870)