Chapter 4
COUNTING HOLES:
PUNCH-CARD CALCULATING MACHINES
When we think of counting, we usually think of saying softly to ourselves “one, two, three, four, ···.” This is a good way to find the total of a small group of objects. But when we have a large group of objects or a great many groups of objects to be counted, a much faster way of counting is needed. A very fast way of sorting and counting is punch-card calculating machinery. This is machinery which handles information expressed as holes in cards. Punch-card machines can:
- Sort, count, file, select, and copy information,
- Make comparisons, and choose according to instructions,
- Add, subtract, multiply, and divide,
- List information, and print totals.
For example, in a life insurance company, much routine handling of information about insurance policies is necessary:
Writing information on newly issued policies.
Setting up policy-history cards.
Making out notices of premiums due.
Making registers of policies in force, lapsed, died, etc., for purposes of valuation as required by law or good management.
Calculating and tabulating premium rates, dividend rates, reserve factors, etc.
Computing and tabulating expected and actual death rates; and much more.