ROTARY CONGRESS

Gisborne Times, Volume LXX, Issue 11175, 7 April 1930, Page 3

ROTARY CONGRESS

FOUNDATION ENDOWMENT FUND WHY T'i r Is~NKUDEI) fprpsn Af?popintlrta.7 THE CHATEAU, April 5. Explaining-the Rotary Foundation Endowment Fund, Mr Charles Rhodes said the object was to provide an insurance against emergency or calamity that might isciiously endanger the growth and usefulness of Rotary-in the field of service to all society, particularly as the sixth object, which is of international importance, might he . retarded. /Rotary Tnternatiomal obtamlained Is current income chiefly trojn a. capitation tax and fees and both these sources were believed to be as liijjrji now as it was advisable to put them, notary’s field of endeavour was world-wide, and becoming every dav nereasingly import anl ami no risk should be run of any interruption of its forward march and general progress. The permanence and stability of Rotary International could not be. left, to chance or exposed to tllei danger of weakened finance, The endowment fund was not to lie a compulsory liability of any Rotariau, nor really of any club, but it was hoped that no club president would ignore the propagation of the idea and the merits of the foundation fund. The objective was T2,OUJ.000, which sounded ambitions, but such a. sum would yield at ihe best only .0100,000 year year, which, in times ol stress, would he quickly swallowed up. How was the fund l" 'I K , created There was no desire 1<« make a systematic levy on all hands. That was entirely contrary in tieRotary ideal. There would lie thousands of Rotariaus who would drop membership as age or other reasons deprived them of their classification and who would still feel desirous of continuing to promote Rotary’s idmils and the gilt ot a sum t-bat would vicld even it per annum would be a permanent reminder ol their Rotary connection and interest, The bulk of the funds must come from members and lie thought that the mo,t tangible and popular method would be through life insurance on the endowment plan, w lie re under a club took out a ten years’ policy on some member’s life and paid the premium till death or maturity. District Governor Ronald.son said that most of them were business men, with business instincts, and knew the value of a reserve fund. He suggested that the particulars given by Rotariau Rhodes should he discussed by clubs, so that presidents and secretaries who would attend the district assembly in August next could submit some scheme that .would commend itself to the wlro'e of the o3rd district. This was agreed to. I Short addresses were given by the j remaining overseas Rotarians Dr. Ot- | to Monson and Rotariau Elgin Stodj dnrd. Both acknowledged the wonderful reception they had received | in New Zealand and Australia, Dr. | Monson commenting on the state- | uumt that the United States was the I borne of Rotary, said that it was Britain that drew Rotary across the I border line and made it internation-

The majority of the delegates and their wives left for their homes this afternoon.