Emphasizing that the strength of the State of Israel “is an adjunct to our own strength and that of the other free nations of the world,” Eric Johnston, administrator of the Economic Stabilization Agency, tonight told several hundred persons attending a dinner for Israel Independence Bonds here that “we can regard an investment in an Israeli bond as a sound investment in liberty, just as we so regard an investment in United States defense bonds.”
In his first major address since his return from an economic survey of Europe, Mr. Johnston urged immediate subscription of the Israel Bond Issue floated in this country as another means of combatting inflation. He stressed that the funds realized through the $500,000,000 State of Israel Bond Issue would be “spent for essentials just as the revenue from our own defense bonds is spent for essentials.”
Calling for wide support of both the United States and Israel Bond drives, Mr. Johnston said: “My job, as administrator of Economic Stabilization; would be con-dierably easier if we could increase, materially, the rate of personal savings now and for the next few years. The better job that we can do of building up our rate of savings, the better able we will be to control inflation in this period of national emergency.”
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.
