NEW YORK (Dec. 28)
Campaign plans for the sale of Israel bonds in 1960, the tenth year of the Israel bond drive, will be adopted at a three-day National Planning Conference in New York of the board of governors and executive committee of the Israel Bond Organization opening January 15 at the Biltmore Hotel, it was announced today by Dr. Joseph J. Schwartz, vice-president.
“In Israel’s first decade, the foundation was laid for a sound economic structure with the aid of Israel bonds,” Dr. Schwartz declared. “It is our responsibility, through our activity in the beginning of the year 1960, to enable Israel to achieve full economic independence before she completes her second decade. In order to provide more employment opportunities for new immigrants. Israel must finance the development of new industries and the expansion of existing ones; the creation of new irrigation networks, and a great increase in food production. Israel bonds must also stimulate the exploitation of natural resources, and provide for the construction of some 32,000 housing units per year for at least the next five years.
Dr. Schwartz said the bond drive had already enrolled more than 1,000,000 investors, and had become “firmly established as the most important single instrument in Israel’s economic development.”