The American Society for Jewish Farm Settlements in Russia has granted the Soviet Government a $9,000,000 loan for seventeen years at 5 per cent, states an Associated Press despatch from Moscow. The loan, which will be handled by the Chase National Bank, will be issued in forty quarterly instalments of $250,000 each for ten years, beginning in 1929.
“This is no new matter.” declared James N. Rosenberg, president of the American Society for Jewish Farm Settlements in Russia, when interviewed by the representative of the Jewish Telegraphic Agency on the Moscow despatch.
“The arrangement for a $10,000,000 investment at the rate of $1,000,000 a year for Jewish Farm Settlements in Russia was made over a year ago and a public statement was then issued regarding the matter.
“Dr. Joseph A. Rosen, the head of the work, is at present in this country, and his reports show that there are today upwards of 200,000 Jews settled on over a million and one-half acres of land in Russia and that all the settlers who have been on the land two years or more are self-supporting. The progress of the work has been far greater than we hoped. Plans for the enlargement of our activities are now under consideration,” Mr. Rosenberg stated.
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.
