NATIONAL DISASTERS

New Zealand Herald, Volume LXXV, Issue 23061, 11 June 1938, Page 16

NATIONAL DISASTERS

EARTHQUAKES AND STORMS CENTRAL FUND PROPOSAL INVESTMENT OUTSIDE DOMINION [BY TELEGHAPH PRESS ASSOCIATION] WELLINGTON, Friday Consideration was given by the executive of the Associated Chambers of Commerce to-day to the proposal of the Napier chamber that, in view of tho frequent occurrence in New Zealand of earthquakes, floods, droughts, frosts and gales, a national fund should be established by the Government, invested outside of New Zealand, and utilised when necessary to meet havoc caused by such disasters. Tho meeting agreed that some strong fund was desirable for such eventualities, and decided to represent to the Government the following remit, carried at one of the past conferences of the association:— "That, with a view to improving our securities for loans overseas, and for coping with any future earthquake disaster, this conference urges on the Government to introduce legislation making reasonable provision for such eventualities as occurred in connection with the Hawke's Bay earthquake disaster of 1931. This conference considers that such a system, when introduced, should be on an equitable basis and that a fund should be established by general taxation, the fund to be invested outside New Zealand, and to be free from political control." It was further decided to ask the Government at the same time to consider expanding the scope of tho scheme to embrace disasters other than earthquakes.