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Israelis View Economic Consolidation As Defense Measure, Schwartz Says

The people of Israel regard economic consolidation as a major element in their capacity to defend themselves, Dr. Joseph J. Schwartz, executive vice president of the Israel Bond Organization, declared here today at an all-day conference of the Women’s Division of the Greater New York Israel Bond Organization.

The parley kicked off a special effort by the women to sell $1, 000, 000 in bonds before the end of the year. Major organizations represented in the discussions at the day-long session included Hadassah, the Women’s Zionist Organization of America, Mizrachi Women, Pioneer Women and the Women’s Division of the American Jewish Congress.

Dr. Schwartz, who attended the recent international Israel bond conference in Jerusalem, reported that the Jewish State is “on the threshold” of a five-year plan to boost the economy to a level which will support a population of 2, 500, 000. With the help of Israel bond sales, he continued, Israel plans to double her present export total and sell overseas $400, 000, 000 worth of goods and services by 1964.

“Anyone visiting Israel today is immediately impressed with the fact that she is the strongest and most reliable friend of democracy in the entire Middle East and that she stands almost alone in the path of Soviet efforts to bring the entire region under complete Communist domination, Mr. Schwartz said.

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