NEW YORK (Oct. 29)
A volunteer force of more than 10,000 men and women will take part in an intensive American and Canadian cash drive for Israel Bonds beginning simultaneously in all parts of North America starting on Nov. 2, it was announced by Sidney Cooperman, national cash chairman.
The special campaign during the months of November and December will seek to raise more than $100 million in cash Bond receipts to relieve Israel’s critical financial position and to help expand industrial production to avoid a sharp increase in unemployment, Cooperman said.
During the coming weeks, the Bond drive will move into high gear with the participation of a number of prominent leaders from Israel who will visit scores of cities to emphasize the pressing need for increased Israel Bond dollars to relieve the enormous pressures on the country’s economy resulting from its record high defense budget and its unprecedented balance of payments deficit.
In explaining the importance of the special cash effort to be inaugurated on the 58th anniversary of the Balfour Declaration, Cooperman said: “As a result of huge outlays for defense, which must be maintained at peak efficiency since the new interim agreement between Egypt and Israel has not yet resulted in peace, Israel is faced with a shortage of financial resources for development projects which are essential for the economic health of the country. That is why Israel Bonds are so important at this time.”