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Transfer of Capital from Reich to Palestine Proceeds in Gov’t Deal

In the last three months 2,210,000 marks were transmitted from Germany to Palestine under the three million mark agreement reached by the Zionists with the German government last August, the German press announced today.

The agreement which was announced at the Eighteenth Zionist Congress at Prague by Dr. Arthur Ruppin, agricultural and colonization expert of the Jewish Agency for Palestine, provided for the establishment of a trustee corporation to liquidate Jewish possessions in Germany to the extent of three million marks, this sum, in the form of goods manufactured in Germany, to be exported only to Palestine. The agreement was opposed by many Jewish groups.

The German press appeals to the Palestine Zionist executive to extend German exports because this is in the interests of the German exporters as well as advantageous to the sending to Palestine of German Jews. The press complains that German exports to Palestine amount only to ten per cent of total Palestinian imports. German papers revealed that the transfer of Jewish capital to Palestine under the agreement involved a loss of five per cent.

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