(Jewish Telegraphic Agency)
A government ordinance authorizing the floating of the Palestine government loan for the amount of £4,500,000, guaranteed by the British Exchequer, was published in the Official Gazette yesterday.
According to the ordinance, the amount of £1,640,000 will be used by the government for the purchase of the Palestine railways and other capital assets from the British government. The amount of £1,000,000 will be used for the Haifa Harbor construction and other port improvements, £1,115,000 will be used for public buildings, and a telephone system. The amount of £745,000 will be used for other works.
The ordinance authorizes the High Commissioner to issue stock or bonds through the Bank of England for the amount of £4,500,000. Payment of capital and interest is to be made from Palestine government revenues.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
