THE NEW PARTY.

Star (Christchurch), Issue 16513, 25 August 1921, Page 5

THE NEW PARTY.

[Per Press Association.] WELLINGTON, August 24. A largely attended meeting was held in the Town Hall to-night, when Mr C E. Statham, the leader, detailed the platform of the National Progressive and Moderate Labour Party, In the absence of the Mayor, Mr Wright, M.P. who declined to preside, Mr Len M’Kenzie, senior city councillor, took the chair. . Mr Statham said the party was being formed outside of the House, only two members belonging to it. It was composed of young New Zealanders, and they had no time for the Red Fed or the Red Flag. If the Union Jack was not good enough for a man he should get out to another country. Mr Statham detailed his State superannuation scheme. He suggested that on the wages bill of the Dominion, which was £76,500,000, a contribution of 2£ per cent by the employee, 2£ per cent by the employer, and a subsidy of 24 from tho State would bring-in £5,000,000 annually. Accumulating at 6 per cent for six years it would yield £40,000,000. This* capital sum would yield annually at 6 per cent £2,412,077. Add 5$ million contributions, and there would be a total income of £8,154,375 per annum, so that each widow would be able to draw £IOO a year as a right. It would be drawn by wiie as well as busband. Mr Statham met with a good reception and was frequently applauded.