Friday, July 14, 1972
THE MICHIGAN DAILY
Page Seven
Friday, July 14, 1972 THE MICHIGAN DAILY Page Seven
§ary GDibble
HAS BARGAINS!
5 . 20%-030 OFF
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(3+~ Big
this Saturday in the
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ANN ARBOR- 1121 S. University
RELUCTANT SWITCH:
McGovern changes campaign
strategy, asks rich for loans
MIAMI BEACH, Fla. (P) -
McGovern forces are asking
wealthy individuals for $4.5
million in loans this week, kick-
-ng off a fund-raising strategy
partly styled after Republican
methods that have brought mil-
lions from the rich to President
Nixon's campaigns.
A private meeting of select
fund raisers for Sen. George
McGovern (D-S.D.) was told the
financial goal for the fall elec-
tion campaign is $36.5 million,
with $15 million of that to come
from large donors.
This is an apparently reluc-
tant switch for the populist Mc-
Govern, who raised more than
80 per cent of his pre-Democra-
tic Convention funds from small
donations solicited by direct
mail.
The loan fund is to cover
heavy immediate expenses in
voter registration and advance
telephone deposits, McGovern's
chief money men told the meet-
ing which was held hours be-
fore the national convention
began.
"We need $4 million to $5.5
million seed money to register
new voters," Miles Rubin told
the money raisers. Rubin is a
New York lawyer who will head
t h e special-gifts campaign,
which seeks donations of $5,000
and up.
Said Rubin of voter registra-
tion: "If there was to be one
effort alone in the campaign,
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Er
that would be it."
He said also that telephone
service deposits of up to $1.25
million would be required, $425,-
000 in California alone.
Robin and Henry Kimelman,
a Virgin Islands importer who
is McGovern's finance chair-
man and second highest contri-
butor to date, confided to the
meeting they were patterning
their special gifts campaign
after their opposition.
"We want to do ,what Mau-
rice Stans has done for the Re-
publicans," Rubin said, refer-
ring to the President's chief
money man and former secre-
tary of commerce who raised
$20 million for Nixon in 108,
Criticisms of large donations
has mounted in recent months
with growing public awareness
of how political campaigns are
financed.
Said Rubin: " "Sen. McGov-
ern now realizes the vital need
to move into the special-gifts
area. He didn't fully realize it
until a week ago when Morris
and Henry talked with him and
explained the full costs of a
national campaign."
Morris is Morris Dees, a
Montgomery, Ala., attorney
who devised a successful direct-
mail campaign that raised $4
million for McGovern's primary
election races.
The direct-mail and tele-
vision-appeal goal for the gen-
eral election is $10 millon, sec-
ond only in amount to the spe-
cial-gifts category.
The other components of the
$36.5-million budget are $5 mil-
lion from special events such as
concerts; $4 million from na-
tional and state committees and
dinners; $1 million from a spe-
cial young people's effort; $1
million0from industry and $500,-
000 from merchandising such
items as T-shirts.
The Republicans already have
banked $10 million, collected
from contributors whom they
will not identify publicly, while
the Democratic party is still
about $6 million in debt from
its 1968 presidential campaign.
The problem of McGovern's
relations with the financial
community, as centered on
Wall Street, has been a thorny
one for the candidate and his
advisers since he moved into
the front-running place in the
primaries.
At one point a group of weal-
thy supporters, many of them
active in business, took a full-
page advertisement in the Wall
Street Journal to reassure the
business community about the
candidate's attitude toward it.
However, many were not re-
assured and the stock market
has fallen to new lows on suc-
cessive days as McGovern ad-
vanced even closer to his goal.
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