34—Friday, December 8, 1967

THE DETROIT JEWISH NEWS

Histadrut Secretary General Becker
Opens Detroit Group's 1967 Campaign

The Value
of Devaluation

BY ELIAHU SALPETER

Correspondent in Israel)
(Copyright 1967, JTA, Inc.)

(JTA

JERUSALEM — Some called it
"mini-devaluation," others "the de-
valuation that never was," outside
official spokesmen and their inter-
preters. Few economists in Israel
were satisfied with the govern-
ment's decision "to adjust" (as
it was called officially) the ex-
change rate of the Israel pound to
the new, devaluated rate of the
British Pound Sterling.
The devaluation of about 16 per-
cent brought the rate of one U.S.
dollar to IL 3.50 instead of the pre-
Abaron Becker, secretary general of Histadrut, opened the De- vious rate of $1-IL 3. Thus, Ameri-
troit 1967 campaign for the National Committee for Labor Israel, at can tourists will get more Israel
a rally at the Labor Zionist Institute, last Thursday. Guests at the pounds for their money, and should
event with him were Mrs. Becker and Zev Barash, Histadrut repre- find greater incentives to spend
here. Israel-made goods should be
sentative in the U. S. At the rally were (from left): Front row,
cheaper and more competitive in
Harry Schumer, Emma Schaver, Aharon Becker., Mrs. Becker; stand-
the United States and in other
ing, Doris Fishman, Norman Cottler, Morris Lieberman, Adele Mondry,
countries that did not devaluate
Zev Barash, Irving Pokempner, Morris Lifshay, Philip Goldstein
their currency. Imports from those
and Louis Levine.
countries will be more expensive
and consequently will be reduced
to the benefit of Israel's balance
of payments.
But most economists regard
the above as pure theory, negat-
ed by the fact that the Israel
government, from the first mo-
ment, claimed — and behaved —
as if she intended and could
carry out a devaluation with no
tangible effects whatsoever.
Devaluations of currency usually
mean that a nation cannot continue
to consume more than it produces.
Therefore devaluation must serve
two basic purposes: to compel the
people at home to consume less,
and to promote production for ex-
port.
The anticipated new incentive to
purchase Israeli exports is also
doubtful.
Devaluation of the IL
At the annual convention of National Committee for Labor Israel,
will not help exports to those coun-
Histadrut campaign, are (from left) Jacob S. Potofsky, president,
tries
whose
currency has similarly
Amalgamated Clothing Workers of America; Aharon Becker, secre-
been devaluated. For them the
tary general of Histadrut; Mrs. Golda Meir, former Israel foreign
price
of
the
Israel goods will not
minister, and Louis Stulberg, president, International Ladies Garment
go down. If Israel had not deval-
Workers' Union.
uated her currency, she would have
had to give IL 50 worth of addi-
tional incentives for each $100
worth of exports, in order to main-
,Arz 17 0
tain the prices, say, in Britain, but
DEC. 3 — To Mr. and Mrs.
Nov. 27 — To Dr. and Mrs. Leon would have gained an IL 50 price
Laurence Schiff (Judy Sukenic), Cogan (Sandra Rabinowitz), 24256 benefit on each $100 worth of
16349 Harden Circle, Southfield, a Leewin, Southfield, a son, Solomon goods imported from Britain. Be-
cause Israel's imports from deval-
son, Brian Neil.
Leonard.
* s *
ued countries are double her ex-
*
ports to them, each IL 50 gained
Nov. 30 — To Dr. and Mrs
Nov. 27 — To Mr. and Mrs. Sey- on exports is offset by a IL 100
Elliot I. Greenspan (Carol Weis-
mour Lusky (Harriet Greenbaum),
berg), 29396 Dequindre, Warren, 20115 Murray Hill, a son, Mark loss on imports. As for exports to
the U.S. and other hard currency
a son, Adam Joel.
Steven.
countries, the exporters should get
• • •
16 percent more IL for each dollar
Recommended by ' Physicians
Nov. 26 — To Dr. and Mrs. Joel earned. But the government made
RABBI LEO
E. White (Susan Gail Friedman) clear that it intends to use devalua-
Detroiters stationed in Okinawa, tion as a basis for reducing export
incentives to manufacturers.
a daughter, Rochelle Hillary.
Many economists are asking why
• • •
Expert Mohel
the
Israel goverment decided, to
Serving Hospitals and Homes
Nov. 23—To Mr. and Mrs. Brent devaluate the pound, and offer
LI 2 4444
LI 1 9769
Slavin (Judith Hirshfield), 14450 several explanations. Some contend
La Belle, Oak Park, a daughter, that the step was taken precipi-
Carolyn Beth.
tously without adequate planning
CERTIFIED EXPERT MOHEL
• • •
ahead. Others feel the government,
RABBI
Nov. 22—To Dr. and Mrs. Mur- (which knows that the IL is over-
ray Brickman (Elaine Schneyer), hauled and should have an ex-
13820 Sylvan Ct., Oak Park, a son, change rate of at least $1-IL 4.50)
Neil Alan.
used the British devaluation as a
334-4149
334-7031
• •
way to forestall pressure for real
Serving In Hospitals and Homes
devaluation,
at least until after
Nov. 18 — To Mr. and Mrs. Alan
Grossman Jr. (Elissa Zolkower), the next election. Others believe
1231 W. Farnum, Royal Oak, a that the government genuinely
REV. GOLDMAN L.
hoped to eat its cake and have it:
son, Jeffery Scott.
improve the competitive position of
• • •
LL
Nov. 15 — To Mr. and Mrs. Israel goods abroad, reduce the
volume
of imports and at the same
MOHEL
James Gottfurcht (Suzan Czeizler
of Brooklyn), 25873 Greenfield, time keep domestic price increases
353-5444
sufficiently
small to prevent a gen-
Southfield, a daughter, Julie Ann. eral
rise in wage levels. One can
• • •
•
only say that each of these theories
Nov. 11—To Mr. and Mrs. Robert has a grain of truth.
Gurvis (Myra Ehrlich), 14510 Win-
* FOR AMERICA
chester Ct., Oak Park, a son, David
The top-selling post card of all
* AND FOR YOU
Paul.
time is reputed to be the drawing
* Sign up for
• • •
of the Briton Donald McGill with *
* U.S. Savings Bonds
Oct. 18 — To Mr. and Mrs. Mar- the caption: "He: How do you like
* New Freedom Shares
tin Kopel (Thelma Beim), 23600 Kipling? She: I don't know, you *
Moritz, Oak Park, a daughter, Jen- naughty boy. I've never Kippled." *
nifer Ann.
It sold about 6,000,000.

—

Birth

uncements

GOLDMAN

-

-

Israel Goodman

MARSHA

Montreal Day Schools Seek Associate Status

MONTREAL (JTA)—Jewish day
schools here have filed for "assoc-
iate status" with the Protestant
School Board of Greater Montreal
under which the board would fully
finance the secular departments
of the Jewish schools and would,
in turn, be entitled to statutory
grants from the Quebec govenment
for children attending Jewish day
schools.
Following a meeting with the
Protestant School Board leader-
ship, attended by the heads of Jew-
ish educational institutions and rep-
resentatives of the Canadian Jew-
ish Congress, it was indicated that
the board would consider the ap-
pications of various schools indi-
vidually, and that agreements
reached might still be applicable in
the current school term. Under
discussion was the setup of Jewish
day schools, their admissions poli-
cies and time alloted for secular
studies.
Under the Quebec system, there
are two public school systems.
Catholic and Protestant. Most Jew-
ish school children attend the Prot-
estant schools and the school taxes
paid by Jewish families go to the
Protestant school board. Recent
legislation has made it possible for
the Jewish day schools to benefit
from provincial tax funds to cover
the cost of providing secular, non-

religious education courses As the
Jewish day schools are not rec-
ognized as a separate public-school
system, they are now seeking an
affiliate or associate status with
the Protetant system.

Policemen's Holiday
a Festival for Drivers

(Direct JTA Teletype Wire

to The Jewish News)
JERUSALEM—Traffic violators
in Jerusalem went unpunished
Wednesday by order of the district
police commandant who suspended
ticketing in celebration of "Police-
men's Day."
The occasion was marked by
police parades through the main
streets of the city. Police squads
were posted at intersections to
direct vehicle and pedestrian
traffic but their ticket books, for
once, were absent.

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