Knesset Pass6s Bill for New $350,000,000
Israel Bond Issue;American Jewish Leaders
set Bond Goal of $75,000,000 for This Year

B-G Chides Zionists
For Not Settling in Israel

TEL AVIV, (JTA) — Former
Premier David Ben-Gurion, in
an article in t h e Histadrut
newspaper Davar ; wrote that he
JERUSALEM, (JTA)—The Is- The Mapam faction suggested
to a payment of :Sir() at ma- knew of no single Jewish leader
rael Parliament today gave ap- that the bill be sent to a corn-
turity in 1964. Both principal in the western countries who
proval to the first reading of a mittee where Mapam members
left his home and property to
and interest will be payable it?
bil' authorizing the floating of a will propose amendments. The
do-llars. take up permanent settlement
new $350,000,000 "Israel Devel- Communists voted against it.
Israel Development Bonds will in Israel.
opment Bond Issue'' in the In supporting the bill, Dr. be non-transferable for the first
The article was a continuation
United States. Canada; South Heibert Foerder, leader of the five years. However, purchasers of the statement of his position,
Africa -*and several European Progressives, said that "the of the new bonds, subject to lim- made in a letter to the recent
countries.
rate of interest plus operating itations to 'be stated, will . be el- plenary session of the Zionist
The new issue succeeds the
expenses of the bond drive still igible to obtain loans on their Actions Committee, that Zionism
"Israel Independence Bond Is-
amount to less than the inter- bonds up to 75% of their par requires that Zionists settle in
sue," which expires May 31 of
est rate which the Israel gov- value at any time within that ;Israel. His original letter
this year. • It will pay four
ernment is forced to pay for period. touched off a storm of debate,
percent interest I- dollars and
other loans." le emphasized
Religious, charitable or educa- which still continues here.
the bonds will mature in 10
that "the bond drive is one of tional. organizations which pur-
years. The bonds may be the most important means of chase bonds with funds intended Branch Three, LZOA, Plan
transferred as capital invest-
help extended to Israel."
for use in building or construe-
ment for promotion projects ' Minister Eshkol, in his address tion will have the right to the Special Session on Tuesday
approved by the Israeli De- to the Knesset, also praised return of these funds for build-
Branch Three, Labor Zionist
velopment Authority.
Canadian Jewry and the Jews of ing or construction purpcises
Introducing the measure in Latin American countries for any time they may be needed Organization, will meet in spe-
cial session on Tuesday evening,
Parliament, Finance Minister promoting the sale of Israel prior to maturity.
Att. the LZOA Institute. The
Levi Eshkol praised Henry Mor- bonds in their lands.
Owners of De velopment Bonds amalga.mavion of Farband and
genthau and Henry Montor,
will be able to convert them into joining of the Jewish Labor
leaders of the bond drive organ-
$75,000 U. S. Goal for 1954
Israel currency at any time for Committee will be discussed.
ization in the United States, for
A new Israel Bond Issue to
These same questions will be .
their work in promoting the raise $75,000,000 in 1954 for the Development Budget invest-
first issue. He also assured the economic development of the ments in Israel or for tourist •on the agenda of the national
Convention on Feb. 22, in Phila-
deputies that the new issue State of Israel will be floated in expenses:
A "life insurance" featiire of delphia. The meeting also will
would not compete with the the United States soon after
serve as a bon voyage to Mr.
United Jewish appeal.
April 1 of this year, it was an- the bonds will enable the heirs
Mr. Eshkol emphasized that nounced at a two-day national or executors of the original pur- and Mrs.. Joseph Katz, who
leave soon for Israel.
"special recognition and appre- leadership conference of the Is- chaser to redeem the bonds at
ciation" is extended by the Is- rael bond organization in New any time within two years after
. the death of the original pur- Shtrigler to Address
rael' government to the Jews of York.
chaser.
Farband Meeting Sunday
the United • States for their
The $75,000,000 issue will be
"hearty cooperation" in the sale part of a total issue of $350,000,-
Mr. Venezky reported that
of Israel bonds. "We send greet- 000 to be sold in the next few more than 600,000 . Israel bonds Mordecai Shtrigler, scholar
ings to the more than 500,000 years to enable Israel to achieve were sold in various parts of the and lecturer wil speak on "Mes-
Jews who purchased Israel economic independence through United States and Canada since sianic Personalities in JeWish
bonds and to all the thousands the expansion of its industry, May, 1951. The Israel Treasury Literature" at a meeting spon-
and tens of thousands who agriculture and commerce.
received $48,732,550 from the sored by District and Detroit
worked day and night in this
sale of Israel bonds in 1951; Committees of Farband, Labor
holy work," Mr. Eshkol said. The decision to embark on a $47,182,350 in 1952; and $41,237,- Zionist Organization, Sunday
"Greetings too go forth to mem- new bond effort, to be known as 100 for 1953, which it will have evening, at the LZOA Institute,
bers of the board of directors of the Development Issue, was received before the end of this ,13722 Linwood. The public is
the bond drive and all the work- made by 200 community leaders month. invited.
ers who showed such unlimited and members of the board of
A JTA report from Santaigo
devotion and. together - contrib- governors of the Israel bond or- De Chile this week reveals that
uted to . the success of this en- ganization on the basis of the Isaac Hameiri had formed a
action of the government of .Is-
terprise."
committee of 25 to conduct the
INVITES HIS FRIENDS AND
The bill was supported in rael which officially authorized sale of Israel bonds in Chile.
the
organization
to
continue
the Snesset by representatives
CUSTOMERS TO SEE
with
the
sale
of
Israel
bonds
in
of the Mapai, Mizrachi, Pro.,
gressives, General Zionists ; the United States, Canada, Latin Hadassah Dedicates Huleh
THE NEW
Ilerut and Poale Mizrachi. America and other countries Area Land for Settlement
where arrangements can be
made to market the bonds.
JERUSALEM„ (JTA)—Hadas-
sah has dedicated a new site of
Julian B. Venezky, chairman
of the executive committee of 11,000 dunams (2,750 acres) of
land in the Huleh area on which
the Israel bond organization,
announced at the meeting new settlements will be estab-
lished in the near future.
for 1954
that the sum of $41,23'7,100 was
obtained through the sale of
The women's Zionist organi-
at
26 Years
Israel bonds in 1953 for the zation, collected over $1,200,001)
With Buick
economic development of Is-
over the past two years' for this
rael.
specific project... Roads will be
The total number of Israel paved, bridges built and canals
6164 CASS AVE.
bond subscriptions amounted to dug throughout the area in
Near G.M. Bldg.
more than $161,000,000. The sale preparation for settlement.
TR. 5-9700
and collections on unpaid sub-
Res. TU. 3-3960
scriptions will continue until
Our Want Ads Get • Results.
next May.
A decision was reached to
convene a three-day national
planning conference in Wash-
ington, Friday, March 26, to in-
itiate a program for mobilizing
Jewish communities to partici-
pate fully in the economic ex-
pansion of Israel.
The Development I s s u e,
which is to be registered with
the Securities and Exchange
Commission in Washington,
D.C., will consist of 15 year
coupon bonds bearing 4% in-
terest per annum and 10 year
savings bonds, appreciating by
50% at maturity. The coupon
bonds will be issued in denom-
inations ranging from $500 to
•$100,000. The savings bonds
will begin at $100 and go up
to $10,000. A $100 bond issued
in 1954 will entitle the holder

DETROIT JEWISH NEWS-3

Friday, January 15, 1954

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