PATRIOTIC FUNDS

Te Awamutu Courier, Volume 75, Issue 6442, 5 November 1947, Page 5

PATRIOTIC FUNDS

SHOULD BE 'SPENT DURING BENEFICIARIES’ LIFETIME

A suggestion that those chargefl with the administration of patriotic funds raised for the Second World War should prepare a budget to ensure that, the money was spent during the lifetime of the beneficiaries and their dependents was made by the* president, Mr A. P. Postlewaite, at the quarterly meeting of the Auckland Returned Services Association. When all assets were sold there would bo a total of about £5,000,000, and if it were not spent more rapidly it would last for 100 years. There was so much money there at the present rate ? would not all be spent during the lives of those it was raised to benefit.

The authorities administering the money could adopt a policy of issuing loans free of interest to enable servicemen to buy houses or establish themselves in businesses, added Mr Postlewaite. If after five years, or ten years—but no longer—a man to whom a loan had been granted proved to be worthy, the loan should be cancelled.

There was about £130,000 in the First World War Canteen Funds and that was being spent in such a way that all of it would be expended in 14 years. That should ensure it being spent within the lifetime of the fund’s beneficiaries. Those administering the larger fund should be more liberally minded.