Menu JTA Search

Lithuanian Government Proceeds Against Jewish Credit Institutions

The Lithuanian Government has refused to recognize as public institutions the 83 credit banks, known as Vols Banks, established in the post-war period in Lithuania, with the assistance of the American Jewish Joint Distribution Committee.

The banks are established on co-operative principles, and their purpose is to help the artisans and small businessmen with short-term credits at a low rate of interest.

The economic structure of Lithuanian Jews depends upon the existence of these banks. The Government, in refusing to recognize them as public institutions, imposes heavy taxes upon them, which will jeopardize their existence.

NEXT STORY