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Dr. Schwartz Returns from Israel; Conferred on Bond Drive in U.S.

“Economic development is a key factor in Israel’s program of defense and security,” Dr. Joseph J. Schwartz, vice president of the Israel Bond Organization, stated today at Idlewild Airport on his return from a two-week visit to Israel where he met with government leaders on plans for the 1956 Israel bond campaign, which must raise a minimum of $75,000,000.

“Israel’s capacity to defend her borders will depend in large measure on her basic economic strength,” Dr. Schwartz said. “Her enemies have hoped for a long time for an economic collapse in Israel. She has shown, however, that she is fully capable of keeping her economic structure intact. That ability must remain unimpaired in the difficult months which lie ahead.

“In the discussions which we held regarding the Israel bond campaign, the leaders of Israel’s Government stressed the decisive importance of investment capital derived from bonds. They count on an intensified flow of Israel bond dollars to help maintain Israel’s economic defenses, to continue the development of industry and agriculture, and to make possible the absorption of at least 50,000 immigrants from North Africa this year.

“I was deeply impressed by the determination and the calmness of the people of Israel at this critical period in their history. Investment in State of Israel bonds provides a key channel through which we in America can identify ourselves with these courageous men and women,” Dr. Schwartz declared.

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