Contents: SOUTH AFRICA INVESTMENTS BY CALIFORNIA STATE PUBLIC AGENCIES • INSTRUCTIONS TO CIRCULATOR • INITIATIVE MEASURES TO BE SUBMITTED DIRECTLY TO THE VOTERS • The petition says the measure provides that all direct or indirect investments by public agencies of the State of California in South Africa shall be divested immediately, and 25% of proceeds shall be invested in projects, opportunities or firms whose major operations are in California. In South Africa, where the world's largest deposits of gold, copper, uranium, and diamonds are found, 22 million Africans are denied basic human rights by four million Europeans under a system of segregation called apartheid. The U.S. gibes...
Contents: SOUTH AFRICA INVESTMENTS BY CALIFORNIA STATE PUBLIC AGENCIES • INSTRUCTIONS TO CIRCULATOR • INITIATIVE MEASURES TO BE SUBMITTED DIRECTLY TO THE VOTERS • The petition says the measure provides that all direct or indirect investments by public agencies of the State of California in South Africa shall be divested immediately, and 25% of proceeds shall be invested in projects, opportunities or firms whose major operations are in California. In South Africa, where the world's largest deposits of gold, copper, uranium, and diamonds are found, 22 million Africans are denied basic human rights by four million Europeans under a system of segregation called apartheid. The U.S. gibes military support to the white minority government. Africans, who comprise 72% of the labor force, account for only 26% of the wages paid. There is a reservoir of cheap labor into which foreign investments have plunged billions of dollars in order to expand profits. Among these investors are agencies of the State of California, who consistently refuse to divest state monies and public pension funds from South Africa despite the escalation of the armed struggle. Twenty-two states have divestment bills pending, while Michigan, Connecticut, and Massachusetts have actually divested. The public has no say as to how almost $30 billion in pension funds in California are invested. The petition says it is imperative that the California public say NO to the immoral and increasingly risky South African investments. Investment of public monies should give priority to California itself. The petition must be returned by December 29, 1983.
