Economic Strength for Israel
Seen in Pound Devaluation

-

AVIV, (JTA)—The deval-
uation of the Israel pound on a
par with the British pound ster-
ling at $2.80 had no effect on
Israel's financial life. All banks
and financial institutions in this
country remained open for busi-
ness without the slightest sign
of panic.
The devaluation was an-
nounced by Finance Minister
Eliezer Kaplan, who said that
Israel's action was a direct con-
sequence of the British move
and that parity would be main-
tained between the two curren-
cies. He stated that since most
of Israel's imports are from the
dollar area, the devaluation will
not influence Israel's price struc-
ture and that all government
price regulations will remain un-
changed and in effect.
A spokesman for, the Foreign
Ministry's Economic Division de-
clared that the majority of
trade pacts between Israel and
foreign countries are based on
payments in dollar currency and
that as a result of the world
devaluation of sterling currency
Israel's economic position would
be strengthened. Prod u c t i o n
will be increased and industry
will be consolidated, he said.
He also announced that no trade
agreement had yet been signed
with Britain, and that the re-
duced value of the pound will
not upset Israel's foreign trade.
In trade circles in Tel Aviv it
was pointed out that Israel will
now be able to purchase goods
more cheaply in areas outside
the dollar area because it pays
mostly in dollars. One compe-
tent source stated that the
equalization of the British and
Israel pound will benefit the
Jewish state because it will elim-
inate the confusion which ex-
isted in an Israel pound of two
values—$4 in relation to all cur-
rencies except dollars, and $3. in
relation to U.S. imports.
Dr. Aron Barth, director of the

Anglo-Palestine Bank, Israel's
largest financial institution in
the country and only bank of
issue, said that the six percent
drop in value of the Israel pound
is unlikely either to influence
prices or trade calculations in
this country, particularly since
American prices are now drop-
ping to an even greater extent.
He added that the price of
British goods entering Israel
will remain_
while.
the drop in value of the Israel
pound will be compensated for
by a larger • volume of exports.
Arieh Shenkar, head of the
Manufacturers Association of
Israel, took a dim view of the
new situation. He expressed
concern over additional compe-
tition for Israel's industry from
Britain's factories. He said that
British exports are bound to in-
crease to a considerable extent
as a result of the lower wages
paid to British workers in the
form of a devalued pound.
In various economic circles it
was stated that because of the
austerity program introduced by
Dr. Day Joseph, Minister for Ra-
tioning and Supply, which has
already lowered prices and froz-
en them at the lower levels,
Israel's economy is now in a
healthy state. The devaluation
will further improve this situ-
ation, and to even a greater ex-
tent than in other countries
where devaluation has taken
place, it was asserted.

Army Medical Corps
Seeks Social Workers

The Army has announced a
new program, contained in Spe-
cial Regulations 605-60-42, con-
cerning the Army Training Pro-
gram, for psychiatric social
workers.
Selection will be made from
male graduate students of social
case work enrolled in graduate
schools of social work approved
by the Secretary of the Army
who desire a career with the
Regular Army Medical Service
Corps.
Those selected will be tender-

6 — THE JEWISH NEWS

Friday, September 30, 1949

JWB National Finance Council
To Meet in Philadelphia
PHILADELPHIA — JWB's Na-

ed appointments in the Medical
Service Corps Reserve as second
lieutenants. In September of the
year of selection, these students
will be placed on active duty
with full pay and allowances to
complete requirements for the
professional master's degree in
social work with a social case
work major.

tional. Finance Council moves
East this fall when it convenes
at the Warwick Hotel here on
Saturday evening Oct. 29, to re-
view a proposed JWB budget for
1950. The conference, which will
continue through to noon on
Monday, Oct. 31, is the first to
be held on the Atlantic seaboard,
the six previous annual meetings
of the Council being held in the
Midwest. Preceding the business
The United States produced sessions, the group will meet for
more than 60 per cent of the an. Oneg Shabbat on Saturday
afternoon.
world's oil in 1948.

Congratulations,

Mr. Williamilordes

On the Occasion of the Planting of

A Forest in Your Honor in Israel

We are pleased to make known the important information, that the
World Office of the Jewish National Fund (Keren Kayemeth Lelsrael) is
about to plant a William Hordes Forest in recognition and appreciation
of the invaluable contributions and faithful
service rendered by him to the cause of Land
Redemption in Israel.

—

_ For many years, Mr. Hordes has served as
president of the Jewish National Fund Council
of Detroit, and at present is serving as chair-
man of the Executive Committee of the Council.
During all these years, through his efforts large
sums of money have been raised for the Jewish
National Fund, which facilitated the redemp-
tion of extensive areas of land in Israel.

GENUINE 54"

GI 'Rabbi' Rehearses
Rosh Hashanah Liturgy

This is . a great tribute to a deserving worker

in the cause of Israel's redemption. The Hordes

CABINET SINK

Forest,. consisting of over 30,000 trees one of
the largest Forests to be planted in Israel, ex-
clusive of the national projects, will be planted
in the Jerusalem Corridor, adjoining the "De-
William Hordes
fender's Forest" at the Gate of the Valley,
(Sliaar HoGai—Bab-el-Wad) where the Judean Hill slopes down to the
plain. It is the region where some of the fiercest fighting raged in 1948
and where the Israeli forces succeeded in breaking open the way to Jeru-
salem—thus assuring security for the 100,000 Jews in the Holy City.

In behalf of the Jewish National Fund Council of Detroit, we con-
gratulate our dear friend and co-worker William Hordes on the occasion of
the honor extended to him and we are very thankful to the many friends
and contributors, who made it possible for a Hordes Forest to be planted

PVT. HANS COHEN of - Ft.
Bragg, N. C., is shown in Beth
Israel Synagogue, Fayetteville,
N. C., rehearsing for High Holy
Day services which he chanted
on Rosh Hashanah in the
post chapel, through arrange-
ments of the USO-JWB office
in Fayetteville. Similar arrange-
ments in 29 USO-JWB Cen-
ters, and at some 500 VA Hos-
pitals and posts in the U. S.
were also carried out under
JWB aegis. Overseas it ar-
ranged for services at points in
Japan, Guam, Okinawa, Ha-
waii, Europe, Panama Canal
and the West Indies. A refugee
from Nazi Germany, Hans
studied singing in Shanghai,
where he and his father were
interned by the Japs. His home
is in San Francisco.

A Very Happy and

Prosperous New Year

to All Our Friends

and Customers

in Israel.

We wish Mr. Hordes and family many years of joy and good health
and an early opportunity to witness the planting of the William Hordes
Forest.

Sincerely,

Check every one of these features: .

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2. One-piece, acid-resisting porcelain.
enamel top
3. Four-inch back-splash
4. Impressed soap retainer
5. Fluted, no-tip drainboards
6. Swinging mixing-faucet with metal
handles
7. Big, deep, no-splash bowl
8. Crumb-cup strainer, easy to clean
9. Hi-bake enamel cabinet finish, inside
and out
10. Big under-cabinet storage (16.10 cu. ft.)
11. Four free-swinging doors, insulated and
sound-deadened
12. Concealed hinges and positive-acting
torpedo catches
13. Two drawers, wide, deep and spacious
(one partitioned for cutlery). Chrome
hardware throughout
14. Drawers open easily, quietly on brass
runners (no sticking)
15. Recessed toe and knee space for work-
ing ease

i,7 . Aitcleeire
0//te7 d4yeit

JEWISH NATIONAL FUND COUNCIL

IRVENIG W. SCHLUSSEL

President

DR. SAM KROHN

MICHAEL MICHLIN -

ALEXANDER SCHREIER

HARRY SCHUMER

Vice-Presidents

ROSENFELD

RADIO

Refrigerators - Service

BORIS WISE

Financial Secretary

Appliances

RASKIN CHEESE CO.

12168 DEXTER

1793 Delaware

TO. 8-0611

EMIL KAHAN

Treasurer

