MONTREAL (Sep. 8)
Israeli Premier Yitzhak Rabin called for wider economic aid from American and Canadian Jewry in the next four months to strengthen Israel’s economy in the face of the country’s pressing post-war financial needs.
Rabin, in a cabled message from Jerusalem to Sam Rothberg, general chairman of the Israel Bond Organization, and Michael Arnon, chief executive officer, urged the more than 750 Jewish leaders from the U.S. and Canada assembled at the four day International Fall Leadership Conference of the Bond Organization here this weekend, to take “immediate steps to utilize the critical fall period to mobilize the greatest possible cash sales of Israel Bonds to enable us to continue the postwar economic recovery program.”
The Premier also declared that “increasing defense requirements, urgent development needs and the outlook for the resumption of large scale immigration from the Soviet Union leave no alternative but for the Israel Bond Organization to assume the responsibility for financing essential development programs.”
$200 M TO CREATE 8000 JOBS
Referring to the hope that the Soviet regime may soon permit an increased number of Jews to leave for Israel’s as indicated in the Premier’s message, Jack D. Weiler of New York, national president of the Israel Prime Minister’s Club in the United States, declared that more funds would be required from Israel Bonds to provide jobs for the larger number of immigrants who may come into Israel from the Soviet Union.
Weiler indicated that, of the total cost of $50,000 for the absorption of one immigrant family, $25,000 represents the investment needed to provide a job for the head of that family. He estimated that $200 million would be required to create 8000 jobs for a probable immigration of that number of families from the Soviet Union this year.
Ira Gulden of New York, chairman of the board of Israel Bonds, said that Israel’s economic plight was aggravated by a rate of inflation of more than three times that of the United States. Over a 12-month period ending Feb., 1974. inflation in Israel amounted to 37.5 percent, he pointed out, as compared with 11.8 percent in the United States for a 12-month period ending July.