Israel Asks Jewry for $1,500,000,000 Loan
Separate UJA From Welfare
Funds, Israel Parley Urged
Direct JTA Teletype Wires to The Jewish News
per cent in 1949 to 49 per cent
in 1953."
Finance Minister Eliezer Kap-
lan said the government was not
considering further devaluation
the balance. He promised to
provide "every opportunity for
private initiative" in every
branch of industry, and added:
"We don't believe in coordi-
nated planning only. We don't
believe in regimented econ-
omy." He declared that im-
migrarCa can not be brought
unless housing, employment
and adequate development of
agriculture are planned.
of the currency to combat the
present economic crisis.
"The Cabinent never even dis-
cussed the possibility of devalu-
ation," Mr. Kaplan said.
JERUSALEM—The various currents prevailing among
Jews in the. United States with regard to giving increased
financial aid to Israel—including heavy participation in the.
$1,500,000,000 loan which the Jewish State contemplates
launching among Jews throughout the world—found their - Premier Ben-Gurion's plan, as
by a government
expressions here Tuesday at the urgent economic conference elaborated
economist, calls for:
called jointly by the Israel goy-
ernment and the Jewish Agen- to undertake a bond isene on
car in which 44 American Jewish the basis of future immigration,
leaders are participating.
but rather on present • needs.
The general debate on the Is- Two hundred million dollars are
rael government's plan to seek needed annually, he said, to as-
a- huge loan among the Jews of sure a decent level of living for
the w o r 1 d, and principally the 460,000 immigrants who have
among the Jews of tip United already arrived. He cautioned
States, was opened • Tuesday by the Israel government to be pre-
Dr. Nahum Goldmann, chairman pared to meet the very substan-
of the American Section of the tial cost of the redemption of
Jewish Agency. He said that the bond issue a n d warned
world Jewry has not understood against regarding it as conbribu-
the full significance of the revo- tions instead of investment:
lution which took place in Jew- The American Jewish lead-
ish life with the • establishment • ers, who arrived in Jerusalem in
of the state of Israel. The prob- chartered planes and motored
lems which now confront that directly to the King - David Hotel,
state, such as immigration and together with British and South
absorption, are problems which African Jewish leaders, com-
belong to the entire Jewish peo- menced discussion of Israel's
pie, he insisted, adding that economic problems on Sunday.
local needs must be postponed.
The visiting leaders, who plan
to return to their homes this
Robert Nathan, noted Ameri-
week-end, were split on many
can economist and head of
issues. Some
the economic department of
the Jewish Agency in America,
advocated cur-
said that ."although American
tailment of im-
migration, be-
Jews have been most . generous
in their contributions, charity
lieving that the
alone cannot build Israel."
rapid rise in Is-
Pointing out that Israel's de-
rael's popula-
cision to assume one-third of
t ion outstrips
the financial burden will mean
production. in-
more austerity and a serious
creases and is
111wering of the standard of
responsible for
living in Israel, he declared
mounting econ-
Ben-Gurion omit difficul-
that no such sacrifice would
be involv e d for American . ties. Demands also were heard
Jewry to loan or invest. the
that Israel should abandon her
greater part of a billion do!- East-West non - identification
policy in the "cold war" and
tars.
Mr. Nathan predicted that Is- openly become aligned with the
rael will spearhead the economic United States. It was proposed
development of the entire Mid- that Israel should ask for Mart-
dle ,East. "Nobody can seriously shall Plan aid.
But Premier David Ben-
question the fact that Israel can
quickly become economically Gurion insisted that the im-
self-supporting and repay all its migration flow must be main-
obligations," he said. He ex- tained, that-600,000 Jews in Mos-
pressed the opinion that Ameri- lem and Communist countries
can Jewry is in a favorable must be rescued by Israel in
economic position to provide a the next three years. He said
large loan to Israel during the that continued immigration is
necessary because Israel is
next three years.
threatened with a second round
Julian Venezky, United Jew-
by her Arab neighbors and de-
ish Appeal leader, urged that
clared that new settlers must be
the UJA campaign be con-
ducted independently of local welcomed, even if it is "politic-
welfare fund drives "because ally irrational or economically
unfeasible."
of the constantly heightening
friction between Israel and
local needs." He added that "a
straight apeal for the UJA will
give everybody a chance to
give the -utmost for Israel."
Stanley C. Meyers of Miami,
president of the Council of Jew-
ish Federations a n d Welfare
Funds, asked for more informa-
tion on the effects of a bond is-
sue on other sources of support
for Israel causes.
Louis Meyers, Kansas City
Jewish leader, said a new ap-
proach was needed to give Is-
rael additional resources and
thought that a bond issue should
be floated and pushed by ex-
plaining Israel's economic needs
rather than by stressing the
philanthropic aspects of the sit-
uation,
Herbert Friedman of Denver
also expressed support of a huge
bond issue, asserting that addi-
tional funds cannot be found
within the present structure of.
Israel fund-raising.
Harold Lindner, representing
the Joint Distribution Commit-
tee, said that the JDC has not
reached a decision on a bond
issue. He thought it wiser not
New Youth League
For Future Nazis—?
- HAMBURG — (W.J.A.) — A
meeting of the right-wing Ger-
man. Reichs Party, according to
the Hamburg daily Die Welt,
has decided during a conference
in Kassel to establish "uniform-
ed youth organizations of the
party which are to counter-
balance the Communist youth
organizations."
Presenting a $1,500,000,000
plan designed to bring in
600,000 new settlers, Mr. Ben-
Gurion said that Israel is rais-
ing a third of this sum and
asked world Jewry to provide
1. Enlargement of the control
system already introduced.
2. Extension of rationing to all
essential supplies.
3. More effective regulation of
prices, wages and profits.
4. Allocation of raw materials
scaled to the amount of fin-
ished product delivered, thus
Beaver, Mink,
Sable
Coats, Capes,
Stoles
preventing diversion to the
Illack market.
The plan forsees employment
of 95 per cent of Israel's poten-
tial work force during the first
year and full employment in the
second.' It envisages the import
of L70,000,000 of working capital
and the building . of 320,000
dwellin.g units.
The government blueprint,
which is subject to revision dur-
ing the conference, said it would
• be a "constderable achievement
if we increase the ratio of ex-
port to import from • about 14
THE JEWISH NEWS
Friday, September 8, 1950
-
5
designers styles . . . in ready or custom-
made creations. Coats, capes, cape jackets,
scarves and stoles. Also, one: of Detroit's largest
selections of Persian, Alaska Seal,
Sheared Raccoon, Stone Marten, and
American Broadtail.
All '51
samuel
PEARL
FURS
with Fur Studios at 314 Farwell Bldg., WO. 1-8644, till 6.
for the holidays . . .
Royal Blue Suits
Fashion perfect. Custom tailored and hand stitched .
in smart single and double breasted models. Longs, reg-
ulars and shorts.
'65 $75 $85
Smart Sharkskins
For styling and durability these fine
sharkskin worsteds can't be matched.
In brown, grey and blue. Solid colors
and overplaids.
Stetson Hats for
$59
50
Fall
The last word in smartness . . . Stetson styling brings
you an entire new line designed for fall wear.
$10•$15•$20
TA shmoo
5-4500
AN ARGO CONTRACT
Fine white on white shirts
$3.95
Ties from California's style centers
$2.50
Guarantees
FUEL OIL DELIVERY
There's one way to be
SURE of getting all the
oil you'll need next win-
ter! Phone ARGO . . .
TAsh moo 5-45001 An
Argo contract means
QUALITY oil . . . BET-
TER service . . . A N D
the ARGO LOW PRICE!
Sign NOW! Play SAFE!
First Grade Furnace Oil
TYPE 2
12 8/ C
/10 Gal.
Fir- t. Grade Furnace Oil
118/ C
TYPE 1
%, /1 0 Gal.
1
IMPORTERS -'CLOTHIERS
19157 Livernois above 7
,DETROIT
Season's Greetings
Open Evenings
—Jack Halperin