“HOARDING” NOT WANTED

Press, Volume LXXV, Issue 22721, 27 May 1939, Page 10

“HOARDING” NOT WANTED

FUNDS OF BOER WAR VETERANS “LIFE NOT PROLONGED INDEFINITELY” Discouragement of “hoarding” of the funds of the various branches of the South African War Veterans’ Association, on the grounds that the association’s “expectation of life” could not be more than 15 or 20 years, is contained in a statement by the president of the association (Mr Ben Ellis) in the May issue of the “Veteran,” the monthlv organ of the association. The statement urges branches, where their accumulations are large, to give a portion to worthy cases of distress. “It has long been apparent to most of us that the life of the South African War Veterans’ Association cannot "be prolonged indefinitely,” says the statement. “The Boer War commenced nearly 40 years ago—and the average life of the former serviceman must now be more than 60 years. “Whilst it is gratifying to read that most of our centres are being conducted on excellent ‘business lines, and are showing profits year by year, the question arises as to the necessity for such rigid economy, and the desirability of accumulating large reserves. Prudent finance is most praiseworthy,, but it sometimes tends to take the form of .hoarding.’ “When it is considered that the association’s expectation of life cannot be more than 15 or 20 years at the utmost, and that, lacking membership, the liquidation of the concern must follow, it seems to me that more generosity might be shown to deserving cases of genuine hardship—and that the surplus which will I expect be handled by the Government of the day when the last South African veteran has ‘gone west,’ may have accumulated on strictly business lines whilst some poor comrade was suffering from want while in the sight of plenty.”