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League of Nations May Lend Support to Jewish National Loan for Palestine

(Jewish Telegraphic Agency)

Economic experts, state bank managers and others have been consulted in connection with the projected Jewish National Loan for Palestine. Unofficial conversations have been held with League of Nations officials in order to discover whether the League would give its moral support to the project. The impression obtained is that this support may be given if the British representatives are favorable.

The conversations were conducted by members of the Commission, headed by Dr. Arthur Ruppin, which was appointed by the Fourteenth Zionist Congress to study the problem.

A detailed inventory of Jewish property in Palestine, in lands. plantations, buildings, industrial projects, etc., has been drawn up, and the question discussed as to what extent would these properties and estates, should their owners unite in a mutual credit association, serve as security for the loan. Zionist property has been similarly assessed, and proposals drafted in connection with the expenditure of the loan, so that Jewish immigration into the country may best benefit. The total guarantee thought to be available is E.£12,000,000. One of the suggestions is that a group of bankers and important financiers should visit Palestine and examine the economic possibilities of Palestine in order to float the loan.

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