JERUSALEM (JTA) — The
Israel Treasury is considering
steps to make the Israeli pound
freely convertible into other cur-
rencies, it was announced by Zvi
Dinstein, Controller of Foreign
Exchange.
Dinstein reported to a press
conference here that Israel's
foreign currency revenue in-
creased by 14 per cent last year
to a record high of more than
$1,000,000,000. At the same time,
he noted, expenditures increased
by less than two per cent to a
total of $879,000,000.
A stabilization of living costs
in Israel was indicated this week
in the announcement that the
cost-of-living index for June
dropped 1.1 points to stand at
127.9. As a result of the June
drop, the average index standing
for the past six months is about
0.3 per cent less than the three
per cent required to increase the
cost-of-living allowance paid to
all wageearners in Israel. The
allowance is fixed each six
months on the basis of fluctua-
tions in the cost-of-living index.
A survey by the Bank of Is-
rael of the country's economy for
the first five months of the year
found that prices had remained
stable in most consumer com-
modities despite a continuing in-
crease in personal purchasing
power. This increase was attrib-
uted mainly to continued receipt
of German restitution funds
from abroad and income from
increased exports.
The survey, however, noted a
30 per cent increase in the value
of securities in the first four
months of the year, a marked
growth in real estate speculation
and a sharp increase in real
estate prices.
Blum Gives 480 Acres
to L.A. Congregations
for Camp Site Use
LOS ANGELES (JTA) —
Temples and synagogues of this
city—Orthodox, Reform and Con-
servative—have been given a
unique offer of 480 acres of
choice, virgin forest land for use
as children's summer camps, on
a non-profit basis.
The offer was announced by
Paul Shapiro, an attorney, on
behalf of the owner of the land,
Israel Blum, a long-time resi-
dent of this state. Shapiro said
the land is located in the Sequoia
National Forest, has plenty of
water available, and is accessible
by roads in the summertime.
Each of the three branches of
Judaism is to receive 160 acres.
The donor has stipulated, Sha-
piro said, that a percentage of
the funds received by any camp
established under the grant, is
to be reserved for scholarships.
Congress Acts to Prevent Egypt's Aggresion; UAR. Threatens Israel
(Continued from Page 1)
other members of the congres-
sional group, insisted that Con-
gress had an obligation to estab-
lish guidelines to be respected
in the administration of the aid
program abroad.
The House Foreign Affairs
Committee adopted an amend-
ment introduced by Rep.
Leonard Farbstein, New York
Democrat, which would deny
aid to nations like Egypt
which prepare for military
aggression against neighboring
states.
The amendment, as finally ac-
cepted by the committee, was
less specific than the proposed
Keating-Halpern amendment, al-
though its implementation is
more stronek- assured. The Keat-
ing-Halpern measure, as incorpo-
rated into last year's Foreign
Assistance Act, referred to na-
tions being denied aid if they
divert their own resources to
purchase of Soviet arms. The
new measure, as approved, makes
no mention of Soviet arms
sources.
Rep. Farbstein pointed out
that "although final determina-
tion must be made by the Presi-
dent, the guidelines of policy
are set forth in the amendment."
He said the adopted amendment
was actually the strongest ex-
pression of Congressional opin-
ion yet on military activities by
Egypt. He stressed that in his
opinion Egypt was already en-
gaged in aggressive military ef-
forts outlawed by the amend-
ment and should be denied aid
forthwith. But he conceded that
the State Department and the
President may not interpret the
situation that way.
Rep. Farbstein cited to the
committee the latest Soviet-
Egyptian arms deal and the
rocket tests currently being con-
ducted in Egypt. The vote on
the amendment was reportedly
22 to 7. Other committee mem-
bers commented that they did
not regard the amendment as
solely applicable to Egypt.
Rep. Halpern, who co-spon-
sored the Keating Halpern
amendment last year, said that
the new version of his amend-
ment approved by the Foreign
Affairs Committee was "too
vague to be effective because
the State Department has con-
tended, in the face of all facts,
that Egypt is pursuing a more
peaceful policy toward Israel
and therefore is unlikely to
stop aid on grounds of aggres-
sive preparations."
He announced that he would
"move from the House floor at
the right moment to strengthen
this measure because I cannot in
good conscience see the Ameri-
can public indirectly subsidizing
Egypt's purchase of Soviet jet
fighters, bombs, and maybe even
poison gas for terroristic use
against neighboring peoples."
The text of the adopted amend-
ment reads:
"No assistance shall be pro-
Russia Challenged by U.S. Groups
(Continued from Page 1)
pelled from the U.S. in 1960, had many secret rendezvous
with Roger C. Foss, one of Rockwell's supporters, trying
to induce him—with cash gifts amounting to $500— to
get a U.S. government job from which he could report
to the Russians."
Contrasting the restrictions on Soviet Jews with the
freedom of American Jews "to participate in those Jewish
associations which express their own concept of Jewish
identity," the letter said:
"In America, Jews can be identified with the Jewish
group or not, as they choose. Their choices are many.
They can be religious or secular. They can belong to
religious institutions of their choice—Orthodox, Conserva-
tive or Reform congregations . . . to non-synagogal (secu-
lar) Jewish community centers . . . Hebrew cultural
groups. They can choose from hundreds of Jewish news-
papers and journals, and book of Jewish interest in
English, Hebrew or Yiddish. They can elect to give their
children a secular education or a religious one. America
permits Jews the freedom to decide what form of Jewish
identity each person wants for himself and the freedom
to support and strengthen these institutions of his choice."
The letter expressed the hope that the Soviet govern-
ment "will extend to its Jewish citizens the same human,
religious and cultural rights that other Soviet citizens
have."
vided under this or any other
act, and no sales shall be made
under the Agricultural Trade De-
velopment and Assistance Act
of 1954, to any country which
the President determines is en-
gaging in or preparing for ag-
gressive military efforts directed
against the United States (or)
any country receiving assistance
under this or any other act, (or)
any country to which sales are
made under the Agricultural
Trade Development and Assist-
ance Act of 1954, until the
President determines that such
military efforts or preparations
have ceased and he reports to
the Congress that he has received
assurances satisfacory to him
that such military efforts or
preparations will not be renewed.
This restriction may not be
waived pursuant to any authority
contained in this act."
Egypt's New Rocket
Intended for Destruction
of Israel, Cairo Says
PARIS (JTA) — Egypt's new
ground-to-air rocket, launched
this week, is intended as a
weapon against Israel, accord-
ing to the Egyptian goverment.
An announcement in Cairo In-
formation Bulletin, reported in
dispatches received here, stated
openly that the type of rocket
set up July 15' "is destined for
the destruction of occupied Pal-
estine."
Informed French newspapers
reported that Egypt will show
off, on "Revolution Day," July
23, an "array" of modern air
and sea armaments created in
Egypt by German scientists and
technicians or acquired from the
Soviet Union.
The "Independence Day" show
included a supersonic jet fighter,
the HA-300, theoretically capa-
ble of flying at twice the speed
of sound; the Russian SA-2 air
rockets, seen for the first time
in the last May Day parades in
Communist satellite capitals;
more Russian MIG-21 jet fight-
ers; and the Komar rocket ships
of Russian make. The latter have,
until now, been given by Russia
only to Cuba.
One of the "Independence
Day" exhibits centered about the
Egyptian rockets named "Al
Tahir" and "Al Zafir," fired
again, as they were last year.
* * *
New Egyptian Weapons
Cause Israeli Concern
(Direct JTA Teletype Wire
to The Jewish News)
TEL AVIV—Egypt's display of
armaments made by German
scientists and of Soviet arma-
ments at Tuesday's "Revolution
Day" parade in Cairo was viewed
here by Brig. Gen. Zvi Tsu,
Shief of Staff of Israel's Defense
Forces, as "a display against
Israel."
In an address to graduates of
Israel's communications officers
course, Gen. Tsar said that Nas-
ser's exhibition of new arma-
ments "should act as an alarm
and as a warning sign for us."
"We shall sin if we underesti-
mate its means," he said.
Israelis possessing television
sets saw • and others heard
through radio descriptions the
massive arms displayed by Nas-
ser's forces in the parade at
Cairo Tuesday. Among the new
weapons there were a 30-foot
stage vanguard rocket with a
range of more than 360 miles—
enough to hit an Israeli target if
guided accurately. Egypt also an-
nounced it had built the first
domestically built submarine
which will start trial runs in 15
days.
There were at least four new
Vanguard rockets, six Zafir roc-
kets which have a range of 220
miles, six Kaher rockets and six
Soviet made SA-2 anti-aircraft
rockets. The Vanguard appeared
to be an advanced model of
Egyptian rockets shown earlier.
Also displayed were MIG-21
jet fighters built by the Soviet
Union, Turboprop troop trans-
ports designed and built in
Egypt by German scientists and
jet trainers. The Russian MIG-
21s are capable of flying at
supersonic speeds.
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Israel Intends
to Make Pound
Freely Convertible