British Zionists Ask “fair Rate of Exchange” for New Settlers in Israel

The General Zionist Organization of Britain called today upon the Jewish Agency’s economic department to “institute a fair rate of exchange to be accorded immigrants with capital” when they settle in Israel. At the same time, the organization hit the “reduced rate” which Finance Minister Levi Eshkol instituted for such immigrants and warned that this might discourage the immigration to Israel of middle class Jews with capital.

Ten days ago, Mr. Eshkol announced the ending of a privileged rate of exchange which gave immigrants with capital a bonus over the official rate. The difference between what the immigrants had previously received and the new, normal rate, the Minister said could be obtained in the form of a loan from the Jewish Agency. He felt there was no justification for continuation of a special arrangement.

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