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28 _ friday,0CtOber
1984. _ THE DETROMJEWISH: NEWS
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NEWS
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Israeli debt
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Johannas Spreen - Democrat
CANDIDATES FOR OAKLAND COUNTY EXECUTIVE
Sunday, October 21, 1984
9:30-11:00 A.M.
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were discussed with- the Is-
raelis "in which any potential
problem may be met. And of
course, loan repayments is one
way to get at cash flow. And
there are some other ways.
But my own opinion is that it
won't be necessary to take
additional steps."
Romberg refused to discuss
any of the suggestions that the
Administration may have
made" during Peres' visit.
However, Administration offi-
cials noted that the existence
of the provision in the law to
delay loan repayments was
pointed out to the Israelis. But
they stressed that there was
no agreement that this would
be done.
If the payment is delayed for
three months, the new Con-
gress would then be in session
and additional aid to Israel is
expected to be approved which
would cover the $500 million.
Peres told the Cabinet that
he and Foreign Minister Yit-
zhak Shamir had initially
balked at the idea of debt-
deferment, given the dis-
tasteful aura surrounding the
idea.
But top American leaders
had assured him that in all
that touched upon Israel's cre-
dit worthiness on the
money-markets America's
own public expressions of con-
fidence (such as that by
President Reagan at the
White House last week) would
secure required loans for Is-
rael. And there was no pre-
tending to the world, the
• American leaders continued,
that Israel did not face an im-
mediate economic crisis.
The $500 million, coupled
with Washington's agreement.
to pay the entire $1.2 billion in
economic aid for the 1985 fis-
cal year now, means that the
dwindling Israeli coffers are to
be replenished immediately to
the tune of $1.7 billion.
Peres stressed, though, that
this transient relief did not in
any way relieve Israel of the
need to attend to its crushing
crisis — especially riproaring
inflation. Since his return to
Israel on Sunday, Peres has
laid primary emphasis on the
urgent need to reach a wage-
and-price "package deal" in-
volving all sectors of the
economy.
In his report to the Cabinet,
Peres emphasized the Ad-
ministration's solid ac-
ceptance of his contention that
Israel's fundamental problem
was the dilemma between its
defense needs and its economic
challenges. Israeli aides
quoted Peres as saying to
Washington leaders: If you
had an Israel in Southeast
Asia, or in Central America,
you would look different
there." His inference — and it
was entirely endorsed by Re-
agan and Shultz, according to
the aides — was that Israel's
defensive capability was a
strategic boon to the West, and
at the same time was the
genuine and legitimate root-
cause of Israel's present eco-
nomic predicament.
The aides said Peres had not
concealed his reservations
over economic policy during
the Likud years. But he had
stressed that a modicum of
consumer relaxation was
understandable after the de-
cades of strain and hardship.
But the bulk of Israel's effort
still went to defense, not
luxuries.
Peres returned to Israel to
find that the cost-of-living
index soared by 21.4 percent
during September, a record
monthly increase.
Over the past 12 months,
the c.o.l. index has risen by
450 percent, but according to
.
the Central Bureau of Statis-
tics the inflation rate for 198A.
will be much higher. It is pre-
sently at an annual rate of be
900-1,000 percent and
the rate in October, to be an-
nounced next month, is ex-
pected to exceed September's.
Wage earners will be paid a
17 percent c.o.l. increment at,:
the end of this month. The in-
crement amounts to 80 per
cent of the month's c.o.l. in-
crease. Histadrut leaders did
not comment, but there have
been mounting demands for
weekly payments of salaries:
Workers complain that by
the time they receive their
monthly pay checks, their
value has" declined by 20-25
percent because the c.o.l. in-
crements are derived from a,
price index 2-4 weeks old.
Meanwhile, the soaring in-
flation is creating problems for
Israeli banks, whose computes
display terminals do not have
enough digits to register th
billion's of shekels that repre-
sent relatively modest sums:-
BOOKS
41
Six Jewish women portrayed
A fascinating book about six
historically-distinguished Jewish
women has additional qualities
that elevate it to publishing sig-
nificance. It was authored by an
outstanding authority on biog-
raphical writing. It has
chronological significance.
Daughters of the Covenant: Por-
traits of Six Jewish Women (Uni-
versity of Massachusetts Press)
also has historical value, as be-
comes apparent in consideration
of the periods covered in the lives
of the six portrayed by the emi-
nent author, Dr. Edward
Wagenknecht, professor emeritus
of English at Boston University.
The six women biographed in
the Wagenknecht book are,
chronologically listed:
Rebecca Gratz, 1781-1869;
Emma Lazarus, 1849-1887; Amy
Levy, 1861-1889; Lillian D. Wald,
1867-1940; Emma Goldman,
1850-1940; and Henrietta Szold,
1860-1945.
The periods under review pro-
vide an appreciation for the im-
portant events, both in world and
Jewish history, covered in these
biographical sketches. The author
is the eminently-qualified
authority whose works cover the
world scene and embrace the most
influential and best known per-
sonalities in all spheres of activity
— politically, socially, scientifi-
cally.
Commencing with Rebecca
Gratz, the authorhas selected the
woman who is perhaps the best
known of the early American
period. As founder of the Sunday
School movement, Rebecca Gratz
is a well-chosen name for the list
of six in this book. She is followed
by Emma Lazarus, whose name is
inerasable from American and
Jewish history, as poet whose
sonnet engraved on the Statue of
Liberty is a symbol of liber-
tarianism also symbolized in
music.
Lillian Wald was the famou9•
social worker, Emma Goldman
the anarchist, and Henrietta
Szold the founder of Hadassah —
the women's Zionist organization:
Least known is Amy Levy. Dr.
Wagenknecht considers her
sufficient importance to be in-
cluded in the collection about six
of the most notable Jewish women
in history. A poet of Victorian
England, as well as a novelist.,
Wagenknecht considers her Re-
uben Sachs as a Jewish equiv-
"Daughters of the
Covenant: Portraits
of Six Jewish
Women" by Dr.
Edward
Wagenknecht
(University of
Massachusetts
Press).
alent of the Forsythe Saga.
In
its
entirety,
the ,.>
Wagenknecht volume is a biog-
raphical enrichment. It adds,
meritoriously to the evaluation of
six very eminent Jewish per
sonalities .
—P.S.
.