Economy Moves. Stun Israelis
JERUSALEM (JTA)—The had addressed the nation or.
government initiated emer- television Sunday night. "I
gency economic measures had no illusion when I took
Sunday including devaluation office," he said.
of the Israel pound by nearly
Israel's enormous security
43 percent, a major cut in the expenditures, the rising price
national budget, sharp price of fuel and the endless price
hikes for oil and basic food increases Of other commodi-
commodities and a curb on ties as well as the economic
imports including a six- deterioration in the world at
month ban on the import of large required steps "that
private cars. The Israeli might hurt us all," Rabin_
pound (IL) is now worth said.
about 16 1/2 cents instead of
He was interrupted during
the previous 42 cents.
his remarks by shouts of
Finance Minister Yehoshua "What about the Israel Corp.
Rabinowitz went on the radio and other economic scan-
at 2 a.m. local time Sunday dals?" Rabin replied, "We
to announce the emergency do not intend to cover up
program and explain to the mischievous activities."
public that it was required
Finance minister Rabino-
to prevent a serious econo- witz explained the difficult ec-
mic crisis and further deple- onomic situation throughout
tion of the nation's foreign the world and stressed that
currency reserves that have Israel had to maintain its
been shrinking at a danger- foreign currency reserves if
ous rate. He said that unless it wanted full employment.
the measures were taken, Everyone must cut down his
widespread unemploy- expenses, he said, to which
ment would ensue.
one delegate shouted, "Why
Several hundred Tel Aviv not cut the huge wages of
slum dwellers rioted against government-controled c o m -
soaring prices and about 400 pony directors?"
workers demonstrated outside
Rabinowitz expressed con-
Histadrut headquarters to de- fidence that the government
mand union backing for wage and Histadrut would iron out
increases to meet spiraling their differences over COL
living costs.
allowances and expanded
Port workers in Ashdod grants to the needy.
called an emergency meeting
Fist fights broke out when
for wage increases in the MK Yoram Aridor of Likud
wake of the government's accused the Labor govern-
emergency economic meas- ment of betraying labor. La-
ures and threatened reprisals bor delegates rushed to the
if they were refused.
podium to drag him down
Police rushed reinforce-
ments- to the Hatikva quarter,
a poor neighborhood in south- JWB Music Board
eastern Tel Aviv, where
mobs smashed their way into Names lair mail
shops and supermarkets
NEW YORK—Shalom Alt-
shouting "We want sugar," man, professor of music and
a commodity tthat tripled in director of the music depart-
price as a result of the de- ment of Gratz College, Phila-
valuation of the pound. The delphia, has been named
rioters attacked buses, police chairman of the Jewish Wel-
cars 'and other passing vkl- fare Board Jewish Music
hides.
Council.
The Knesset Tuesday night
Altman was a founder of
approved the government's the JWB Jewish Music Coun-
new economic policy, by a cil in 1944.
comfortable majority of 59-
A board member of JWB,
41 with two abstentions.
Altman is - on the executive
The feeling in the Knesset
was that a compromise was board of the National Coun-
in the offing between the gov- cil for Jewish Education and
ernment and the Histadrut. is president of the Educators
Following Premier Yitzhak Council of the Jewish Na-
Rabin's appearance at the tional Fund. He is in charge
Histadrut Central Committee of developing and supervis-
Tuesday, it is believed that ing music specialists, music
despite hard-line Histadrut curricula and planning in-
resolutions, the unions would service courses for all the
eventually agree to forgo part Jewish schools in Philadel-
of the cost of living (COL) phia.
Jewish music consultant to
compensation — at least for
the broadcast media of Phil-
higher paid workers.
The government will prob- adelphia and to many orches-
ably agree to up the compen- tras, musical institutions and
sation to be paid to poorer the community in general,
workers, and perhaps, too, to Altman helped develop the
pay larger COL increments Schreiber Jewish Music Li-
than was at first intended— brary.
but in the form of bonds
He is the conductor of the
rather than cash. -
Philadelphia Jewish Commu-
Rabin spoke to the Hista- nity Chorus and of the Phila-
drut delegates Tuesday in the dalphia Cantors Choral En-
same frank manner that he semble.
and Likud delegates came to
Aridor's aid. A general brawl
started, lasting several min-
utes before security men and
guards separated the oppon-
ents.
Several thousand workers
in Ashdod, including militant
dock workers, demonstrated
against the price increases
and demanded appropriate
compensation.
Long lines formed at banks
as depositors withdrew cash
to buy food and other goods
before anticipated shortages
develop and prices soar out
of reach.
There was also a rush on
stores selling electrical ap-
pliances. Electric and gas
heaters are in heavy demand
as substitutes for heating oil
which has sky-rocketed in
price. But householders ap-
Joe Dorfman
18—Friday, Nov. 15, 1974
parently forgot, for the mo-
ment, that their electric bills
will also -rise by 70 per cent
and the price of heating gas
by 66 per cent.
The pressure on super-
markets and groceries eased
somewhat as shoppers found
most food commodities in ad-
equate suppy. But people
everywhere seemed to be
stunned by the 43 per cent
devaluation of the pound.
The only persons benefit-
ing apparently are recipients
of reparations payments from
West Germany and people
who have foreign currency
from other sources.
They were queuing up at
the foreign currency win-
dows at various banks to get
more pounds for their marks
and dollars ,than they would
have received last Friday.
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