THE DETROIT JEWISH NEWS
10—Friday, November 5, 1971

Defense Cut, Freeze on Bank Credit Accompany Gloomy Financial Picture

JER USALUM
ifeTetisq:1Trom $8.190.000,000 to 56.800,-
-Minister- Moshe-Dayiti -offered :his-000.000, which according to Sapir
lowest
budget
proposal
for
the
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
GARAGE-DOOR.
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
353.4284
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,
WILSON-CRISSMAN CADILLAC
and the additional -money in cir-
CALL BUS. Mi 4-1930
RES. 642-6836
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
FREEZER COUNTER

.

NEW CADILLAC?

ANDY BLAU

in BIRMINGHAM at

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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
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Your Friendly Merchant

Joseph Demyan, a barber for 14 years, 1101 specialized in
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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
Israel Appeal.
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
report stated.
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
cent.
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
$400,000,000.
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.

in ARi

Eye Doctors
Prescriptions Filled

r
_H
DesigneH . of .Fine Furs

PRESCRIPTION OPTICAL CO.

26001 Coolidge

543-3343

• Sport Coats

• Pants
• Shirts • Sweaters
• Etc.

Belle Jacob Wig Shop
Barton'. Gal
Chadette's, Inc.
David's Ladies Sham
DiRosa Hair Fashions
Empress Gardens Canon.. Rest.
Farmer Jack's
labor Cleaners
H. R. Barber Salon
H. R. Kosher Meats & Poultry
Jerome's Tots 'n' Teens Shoes
Jewel Bakery

Jul.. Denitsan -frenrel Agency -
Molter Furs'
'
Marge's Child ' ren's Shoppe
Mark Pharmacy
Mods Huppert Clothier
National Bank of Southfield
George Ohrenstein, C.M.W. a Jeweler
Original aquire Rest. a Deli.
Parisian Fashions
Petal Pushers (Rost)
Teggery of Plamard Row
Warren Optical Co.

1

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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 Nazis.
The Premier said that the num-
ber of applications received from
victims of Nazisin has exceeded
all expectations.

- PluitiOi --3511-0850

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$100,000,000 this year, compared
with its _goal of $200,000,000: The
`estimates . are considered reliable

have , been COMpleted; the report
noted.' -
' The largest* single cut out' of r.
the- .totat $186,900,800.-reduelien'
will be lit housing for new
.grants. Her
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'

R

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•

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11 Mile & Lahser
Southfield