Up for sale is a 1935 Dr. F. E. Townsend Old Age Pension Plan Influenced Social Security Token In 1933, Dr. Francis Everett Townsend, who was struggling financially after retirement, developed a plan to provide economic security for elderly Americans. The Townsend Plan proposed that: Every American over 60 years old would receive a monthly pension of $200 (a significant sum at the time). Recipients had to spend the money within 30 days to stimulate the economy. The program would be funded by a 2% national sales tax. The plan gained millions of supporters, particularly among seniors, forming "Townsend Clubs" across the country. Townsend?s movement put pressure on President Franklin D. Roosevelt to address elderly poverty. Although Congress did not adopt the Townsend Plan, it influenced the creation of Social Security in 1935, which provided a more moderate but lasting pension system (Google AI). The token is made of brass and measures 31mm in diameter. Save Money With Free Shipping on Additional Items. Additional Items Paid For in the Same Payment Ship Free. You Can Add Buy it Now Items To Your Cart Before Paying For More Savings. Thanks for looking. Check out my other items.