THE DETROIT JEWISH NEWS
10—Friday, November 5, 1971
Defense Cut, Freeze on Bank Credit Accompany Gloomy Financial Picture
ifeTetisq:1Trom $8.190.000,000 to 56.800,-
-Minister- Moshe-Dayiti -offered :his-000.000, which according to Sapir
is the maximum sum the treasury
enico ELECTRONIC -ing fiscal year at a meeting, of com-
the cart .raisc.
OPENER - •
ministerial.committee - on ecOriornie - .- The cabinet Sunday night or-
affairs Tuesday-night.: but FinanCe tiered a freeze on the -volume of
Minister FinhaS Sapir is - seeking credit extended by Israeli banks
still further cuts; :
- at t S909 , On 000 y the figure it was
Dayan. -who was . accompanied - exPected to reach Thursday.
at the meeting by Chief of -Staff The measure was taken to corn-
Chaim Bar LeV and
deputy, bate inflation.
Lt. Gen. Zvi 'Thur. suggested a de-
Since the Israeli pound was de-
fense -budget for -fiscal 1972 of valued last August, banks have
Call Ewtnings Until
$2,500,000,000, - but The committee been permitted to increase their
faces the task 'of reducing the
credit volume by one-quarter of 1
budget estimates of all ministries per cent each week. During the 10
weeks since devaluation, the total
credit volume increased by only
2.5 per cent.
SEE OR CALL
Sapir noted on the positive side
that industrial production rose by
13.5 per cent, much more than ex-
pected. Private consumption per
capita hardly rose at all during
the first six months of this year,
and the additional -money in cir-
CALL BUS. Mi 4-1930
culation is due entirely to public
1350 N. WOODWARD, BIRMINGHAM
spending and investment.
4 On the negative side, the finance
minister observed that the economy
is overextended and is short 30,000
workers. He said that Israeli ex-
ports would amount to $1,750,000,-
000 this year against slightly more
than $3,000,000,000 in imports.
Originators of the Harvard Roast
If investment goods, mainly
ships and aircraft, are deducted,
TRY ONE OF OUR
imports will hardly have increased
NEW PRODUCTS AT OUR
at all in 1971, he said.
Fund-raising targets for Israel
in BIRMINGHAM at
KOSHER MEATS & POULTRY, INC.
21780 W. 11 MILE, SOUTHFIELD
Located in the Harvard Row Mall
FREE DELIVERY • EL 6-5110-1
S. Mirves, J. Katz, I. Zaks, D. Krasmon, Proprietors
oppind enter* I
HARVARD ROW BARBER SALON
Our Barber Solon specializes in men's hair styling.
- For your convenience there are 4 barbers available,
2 stylists. Manicuring is also available. For an
appointment, call 357-0234.
Your Friendly Merchant
Joseph Demyan, a barber for 14 years, 1101 specialized in
hair styling for the post 4 years. Previously located on
Detroit's west side; he moved to Harvard Row 2 years ago.
this year were the highest in his.
tory, a total of $600,000,000 from
world Jewry. The targets will not
be met, however, even though
the results will be excellent.
By the end of the present cam-
paign year this fall, some
$322,000,000 will have been raised,
second only to the record $360,-
000,000 figure collected during the
Six-Day War. This was reported
here by Keren Hayesod-United
Nevertheless, the report noted,
the drop in expectations has neces-
sitated drastic cuts in the Jewish
Agency budget which was based
not only on the expectations but
on real and pressing needs.
In addition, the Israel govern ,
ment will have to spend at least
$120,000,000 more for new water
projects in agricultural settlements
and for vitally needed immigrant
housing which it had expected to
get from the Jewish Agency, the
In all, the $600,000,000 budget
of the Jewish Agency for 1971-72
will be reduced by a total of
$184,714,2135, a cut of some 30 per
The United Jewish Appeal which
is responsible for fund raising on
behalf of Israel in the United
States expects to raise $222,000,000
compared with its target of
The Keren-Hayesod which is re-
sponsible for fund raising in 71
other countries - throughout the-
world anticipates an income of
some $1,000 annually to maintain
one hospital bed, the proposed cut
of $17,000,000 for this purpose out
of- the total $40,000,000 7reduetiritti
for health services, would Mean
the elimination of 1,700 bedS.. --TheT
second part of the- *40,000,000 -r4
was supposed to be devoted Wthee
construction of new hospitals,-.:- s
In one item only the `-Jeivish
Agency WilL maintain -its-'preient,
share of the government budget,
namely, for higher education to
which it contributes 98 per cent.
DesigneH . of .Fine Furs
PRESCRIPTION OPTICAL CO.
• Sport Coats
• Shirts • Sweaters
Belle Jacob Wig Shop
David's Ladies Sham
DiRosa Hair Fashions
Empress Gardens Canon.. Rest.
H. R. Barber Salon
H. R. Kosher Meats & Poultry
Jerome's Tots 'n' Teens Shoes
Jul.. Denitsan -frenrel Agency -
Marge's Child ' ren's Shoppe
Mods Huppert Clothier
National Bank of Southfield
George Ohrenstein, C.M.W. a Jeweler
Original aquire Rest. a Deli.
Petal Pushers (Rost)
Teggery of Plamard Row
Warren Optical Co.
soft - spills -of
itist one from
12 TO 5
Getting War Reparations
AMSTERDAM (JTA) — Premier
B. Biesheuvel revealed here that
6;200 war survivora,,mainly
hiv:e'alreadYlieett, Pal& conipetisa-
tion by the Dutch government for
their sufferings at the hands of
The Premier said that the num-
ber of applications received from
victims of Nazisin has exceeded
- PluitiOi --3511-0850
Featuring A Complete Line
of the LATEST in
MEN'S & BOYS' CLOTHING
since most of the fund - raising
campaigns for the present .year,
YOUR FRIENDLY HARVARD ROW MERCHANTS
.11:MILE--AND .LAHSER ,
OPEN =SU NDA
$100,000,000 this year, compared
with its _goal of $200,000,000: The
`estimates . are considered reliable
have , been COMpleted; the report
' The largest* single cut out' of r.
the- .totat $186,900,800.-reduelien'
will be lit housing for new
e, some $110,000,000
will be ,elintiniated, marking a
drastic 57 per cent reduction in
the '1971-72 budget. -
On the assumption ~that it' Coati'
GLAMOUR AND LEISURE SPORTSWEAR
HARVARD ROW MALL
11 Mile & Lahser