Dr. Schwartz Returns from Israel; Lauds Country’s Economic Progress

Deep satisfaction with the continuing progress of Israel toward full economic stability was expressed by Dr. Joseph J. Schwartz, vice-president of the Israel Bond Organization, following his return from conferences in Israel with Premier Levi Eshkol and other top Israeli leaders.

Dr. Schwartz discussed with Mr. Eshkol plans for intensifying the settlement and industrialization of the Negev, the development of which is being financed in large measure with the proceeds of Israel bond sales. “Israel’s economy is moving forward at a very encouraging rate,” he said. “Export trade is forging ahead of last year and the development program in the Negev is already producing fruits of greater settlement and increased economic activity in formerly barren and unpopulated regions.

“From the point of view of immediate development needs as well as from the long range view of opening up wider areas of the vast Negev desert to economic rehabilitation, the leaders in Israel regard Israel bonds as the most important source of large-scale, long term financing,” Dr. Schwartz said. “The people of Israel,” he added, “take great pride in the fact that the first Israel bonds are now being redeemed. They consider redemption as a very heartening signpost of their economic progress. They also believe that redemption will serve to broaden their economic partnership with American Jewry in the future. “

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