Drive to Sell Israeli Bonds Opened in New York; 1,000,000 Bond Subscribers Sought

The drive to sell Israeli bonds in the United States was launched tonight in New York at a dinner addressed by Golda Myerson, Israel’s Minister of Labor, at which it was announced that a goal of 1,000,000 subscribers will be sought in New York for the $500,000,000 Israeli Bond Issue.

The announcement was made by Benjamin Abrams, chairman of the Greater New York Committee for State of Israel Bonds. Henry Morgenthau, Jr., who was also one of the principal speakers at the dinner, said that the United States and Israel have a great many objectives in common. “America needs Israel for the preservation and the strengthening of the democratic ideals throughout the world, just as Israel needs America for its economic growth,” the former U.S. Secretary of the Treasury said.

Mrs. Myerson, told the 600 assembled Jewish leaders of the plans for vast industrial expansion which are now being prepared by the Israel Government. “We are coming to America for the capital we require for the speedy completion of a national development plan which will enable us to mine rich mineral deposits and build a network of factories across Israel, ” she said.

“Funds realized through the State of Israel Bond Issue will also help us to accelerate the rate of building houses for the additional 600,000 immigrants expected in the next three years, who will work our factories and man our quarries,” Mrs. Myerson continued. “Israel has accomplished much more than even her best friends anticipated,” she reported.

At another opening-day ceremony this morning, Mrs. Myerson met with more than 600 women, representing every Jewish organization in New York, at the first Israel Bond Rally organized by the Women’s Division of the Greater New York Committee in the Grand Ballroom of the Hotel Pierre. “We are asking Americans to invest in the Jewish State as a business which is a going concern,” she told the meeting. She added that “a few years from now, Israel can become economically independent.”

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