PATRIOTIC FUNDS

Bay of Plenty Beacon, Volume 4, Issue 161, 29 September 1941, Page 6

PATRIOTIC FUNDS

PATRIOTIC COUNCIL CRITICISED

The action of the Auckland Patriotic Council in investing SO per cent of its funds in Government loans, was the subject of adverse comment at insl Executive meeting of the Auckland Farmers' Union. '"The funds." said one member, 'should be for the soldier, not for Ids grandsons." AnotiuN- said: "These funds are be* fng used to prevent inflation, to bol;"t< r it j) Government finance, and help build expensive Slate buildings." Mr A. C. A. Sexton look the view flint the real needs of the soldiers for assistance from the funds would be probably found from 10 to lii (Continued in next column). |

years after the men came back. All the same, lie thought the funds should be kept reasonably liquid. Mr J. H. Furniss said there was ■strong resentment in the VTaikato at the allotment of the funds f o State loans, and this might prejudice future collections. Government "was [pan bonds would of course be negotiable, but was it likely tlicy would be selling at par value when the money was needed? The, purpose ol the patriotic funds, he contended, was to provide for soldiers' needs during and immediately after the war. The long-term needs of returned soldiers were a Slate responsibility, and should not be shouldered by contributors to the funds. A. resolution condemning the policy of the Council was carried.