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PAGE FIVE

rnsfientordaisit (i Roman

New Spain and the Sephardic Jew

By JOSE M. ESTRUGO

J. S. Bache & Co.

(Copyright, 1925, by Jew ish Telegraphic Agency.)

Established 1892

Members

New York Stock Exchange

New York Cotton Exchange

New York Produce Exchange

Chicago Board of Trade

Detroit Stock Exchange

All other principal exchanges

Stocks, Bonds, Grain, Cotton, Provisions
Foreign Exchange

Accounts Carried on Conservative Margin

JAMES M. BUTLER, Manager

130 Penobscot Bldg., Main Floor, Detroit

The Mich. Mutual Life Ins. Co.

Founded 1867

Invites your patronage. Its record
of 58 years of continuous progress and

faithful service to its patrons in your
home town is a guarantee of the prompt
fulfillment of all its protective policy
agreements in the future.

Surplus $1,700,000.00

Total Insurance in Force $119,000,000.00

A. F. MOORE, Secretary

J. J. MOONEY, President

ROY W. ANGER, Supt. for Wayne County

ROSH HASHONAH GREETINGS

We Extend Our Sincerest Wishes to All Our Jewish
Friends and Patrons for a Happy and Prosperous
New Year.

C. M. HARMON CO.

Local Correspondents for Provident Mutual Life Insurance
Company of Philadelphia.

308 Dime

INC.

Bank Building

DETROIT

Underwriters and Distributors of Securities

MUNICIPAL
PUBLIC UTILITY
INDUSTRIAL
RAILROAD
GOVERNMENT
BONDS

To meet the demand of some of our regular
investing clients for thoroughly balanced lists,
we are now prepared to supply a limited
number of sound land Contracts to discrimi-
nating buyers who place security above yield.

Cadillac 6303

ROSH HASHONAH GREETINGS

H. W. Noble & Company

Established 1894.

INVESTMENT BANKERS

Members Detroit Stock Exchange.

DETROIT

DIME BANK BLDG.

LANSING

OWOSSO

FLINT

51 - 151

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ADRIAN

To+, T,T, vieeeeeefeT,

A. Louis Gordon

MORTGAGE LOANS

CENTRAL BUSINESS PROPERTY
INTEREST ru
0/270
RATES

Also Apartment, Duplex and Single Residence Property Loans
at Six Per Cent Interest.

2126 PENOBSCOT BLDG.

LEWIS &COMPANY

REAL PROSPERITY
EXPLAINS PROGRESS

Randolph 3530-9 Inc.

Assets $19,400,000.00

Sephardic Jews who expected some-
what easier formalities than those re-
quired for other foreigners. For
this reason, the Spanish government,
under the leadership of Primo de Ri-
vera, and by royal decree, has pro-
mulgated a special law whereby any
Sephardi may acquire full citizenship
without going through long routine
and red tape and without even having
to reside in Spain.
Indeed, it is an act of contrition
and reconciliation. The sons must
not be held responsible any more for
the sins of the father. The crimes
and atrocities of the dark ages be-
long to history and should be forgot-
ten. Spain was not alone to err.
Many other nations have sinned like-
wise. But it is a great consoltaion
nowadays to note that in the midst of
hatred and persecution of the Jew in
many a civilized country, the land of
the old "Quemaderos" and "auto-da-
fes" throws her doors wide open and
wishes to make a place in the sun for
the sons of the expelled. No doubt
Spain will benefit very much by at-
tracting to her useful and honest
people, and also of the good will of
the Jews the world over.
Needless to say, those Sephardic
Jews who enjoy full citizenship rights
in other lands, and particularly in the
United States, of which they are
proud of being loyal citizens, will not
change their nationality. It was not
intended that they should do no and
Spain will not insult them by thinknig
that they would. But there are mul-
titudes of Sephardim in Europe who
for one reason or another, owing to
political vicissitudes and changes in
There are three outstanding fea- the map of the world, find themselves
tures which explain the permanency without any legal status, and are
of Detroit's present prosperity, and practically "men without a country."
these are, industry, money and com- Many of them did not want to remain
merce.
or become subjects of nations which
Many more things could be added, are acting toward them as step-moth-
but they are closely related to the ers, and some of them have already
three points named and by commerce been divested of the privileges of citi-
trade is meant, the buying and sell- zenship by their former fatherlands
ing of what is produced in this great and are being driven from frontier to
metropolitan district surrounding De- frontier. For them the new law
troit, is the opinion of one realtor.
comes as a salvation. If they can-
Real estate, in which term is in- not go to Spain, all they have to do
cluded building operations, is placed is to present themselves to the near-
in a prominent place when the char- est Spanish consulate or embassy,
I acter of Detroit's outlook for the fu- with their documents proving that
ture is analyzed.
they are born of parents belonging to
It would be almost absurd, in view the great Hispanic family and fulfil
of recent population figures for this certain simple formalities.
district, which reveal great increases,
This noble action is the result of
to promote the theory that Detroit
long years of campaigning by a lib-
has reached the saturation point in
eral Spaniard, called the "apostle" of
subdivision development and building
the Sephardim, Senator Doctor Angel
projects. The Detroit banks have
Pulido Fernandez, who has been at
passed the billion dollar mark in re-
the head of the movement of recon-
sources for the first time in their
ciliation between Spain and her dis-
history. Public utilities, like the tele-
persed sons. The movement was one
phone company, see far ahead and
of sentimentalism and never went ,
are planning extensions which will
any farther than bringing moral and
run into millions.
spiritual adhesions. The whole Span-
Industrial plants have announced
ish press, whether liberal or conserva-
programs of extensions which amount
tive, has acclaimed and endorsed the
to millions and millions. Housing is
senator's campaign unanimously.
still a problem here and this problem
Credit must he given also to a
will grow. When Woodward avenue
is again opened in its completed state number of writers and journalists,
of the widest and finest thoroughfare Rafael Cansinos Assens, Manuel Or- I
in this country, the northward tega, Carmen de Burgos, Gabriel Alo-
growth in population, as suburban mar, Rafael Altamira, Francos Rodri-
buliding continues, will take on new gues, who have contributed to the I
interest. Detroit has just started on bringing out of this epoch making
a new era, if the world markets and event.
The Sephardim living in the Span-
affairs in Europe continue to improve.
ish zone of Morocco have already be-
come Spaniards, long ago. There
were in Turkey, Greece nad the Bal-
Rosh Hashonah Greetings.
kans a few thousand "protected Span-
ish subjects" inscribed in the regis-
ters of the Spanish consulates sines
100 years ago, but not enjoying full
citizenship. The Spanish government
had shown some interest in them, at
the inception of the establishment of
the capitu'ations in Turkey. Their
situation now becomes normal by the
Preferred Security Co.
proclamation of the edict in question.
There are some Sephardim, how-
Investments, Mortgages
ever, who demand the revocation of
the
edict of expulsion of 1492, which
and Land Contracts.
they consider still in force. Let me
answer them, that if same has not
1050 PENOBSCOT BLDG.
been declared null and void, subse-
quent laws have made it so. No edict
Cadillac 2124
has been issued, for instance, to abol-
ish the Inquisition, and everybody
knows that that infamous tribunal of
the faith has long been dead and is
only a nightmare in history since

The Spain of the twentieth cen-
tury has just given one more proof
of her willingness to right the wrong
done to her faithful sons of the Jew-
ish faith centuries ago.
By a royal decree recently issued,
all the descendants of the exiles can
become Spanish citizens with full
civil and political rights, if they no
wish it, and particularly if they do
not enjoy such rights wherever they
happen to live. The text of the de-
cree is very interesting and consti-
tutes a precious document in the his-
tory of contemporary Judaism. It
has already been given wide pub-
licity.
There were in many countries, and
principally in the Near East and Latin
America, a good number of Jews who
had "Spanish protection," easily
granted to them, as descendants of
families of Spanish origin, and who,
owing to the strictness of the law,
could not acquire Spanish nationaliy,
in spite of their love and adhesion
to the country of their ancestors,
which language they still cherished
and conserved with religious attach-
ment. Many of them believed, er-
roneously, that they possessed full
Spanish citizenship and others were
waiting for a naturalization "en
manse."
Truly the constitution and the civil
code of Spain had many phases which
were difficult to be met by these

RANDOLPH 2565

KSNMWENIOESFI.W

Standard Trust
Company

1820.

On more than one occasion, in the
past 100 years, Spanish statesmen
have understood the advisability of
bringing back to Spain the descend-
ents of the exiles. Most prominent
among them was the Count Duke of
Oliveras, who wanted to repatriate
en masse the Sephardim of Salonica.
The project failed but the Count
Duke entrusted to many Sephardim
diplomatic missions in the Spanish
possessions in Africa.
His Majesty Alfonso XIII has al-
ways taken personal interest in the
fate of the Spanish Jews and during
the world war he protected their lives
and interests in many lalids. His
Majesty once said to Dr. Pulido Fer-
nandez: "Pulido, don't abandon my
Spanish Jews; keep up your good
work, it is highly appreciated."

The
Season's
Greetings

TI

Guardian Home Securities
Company

1925-1926 First National Bank Building

DETROIT, MICHIGAN

First Mortgages
Land Contracts

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ran ran e ~ rrs

Ground Floor Penobscot Bldg., Detroit

*0

a
a
a
a

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Capital, . . . $300,000.00
75,000.00
Surplus, . • .

1

41

I

FINDS CONDITIONS GOOD

In a recent issue Moody's Weekly
Review of Financial Conditions says
in part: "American investors may
take the reduction of the Bank of
England discount rate as meaning
that our exports of capital have
strengthened the financial structure
of Europe.
"Call money is showing an upward
trend; but to the stock market this is
more helpful than harmful. Rising
interest rates mean expanding pros-
perity, which in turn means higher
share prices.
"Trade developments are unusual-
ly good for this season. In regard
to stocks' this ought to signify that
growing prosperity should result in
higher prices. As to bonds, it ought
to mean that from now until the end I
of the autumn trade anyway we are
likely to witness a larger flow of
capital into mercantile uses, and a
somewhat reduced demand for
bonds."

It would be wrong for us to say
that character is a matter of indifl
ference to us, even when it be some-
body else's character. Ilumanity , is
one, and every character is an asset
of the race. When ■ man says, as
you often hear men say of one an-
other, "So-and-so is his own worst
enemy, and an enemy to nobody
else," lie is making a very superficial
remark. That man Is an enemy to,
society who Is an enemy to himself;
that man is wronging friends, home,'
country, and God. Character is of
the first Importance.

This Company acts as Executor,
Administrator, Trustee, Guardian
and in all other recognized Trust
Capacities.

IL

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6(/r Guaranteed First Mortgage

Bond Certificates

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