Sales of $6,187,000 in Israel bonds were announced here today at the closing session of the international Mobilization Conference for Israel inaugurating the 1955 campaign for Israel bonds in 27 countries on three continents. More than 800 delegates from Western Europe. Latin America, the United States and Canada attended the three-day gathering.
Julian B. Venezky, chairman of the executive committee of the Israel Bond Organization, announced the inauguration of a national citizens committee to enlist participation of Christians in the Israel bond effort. He reported the Irish Republic had just authorized the sale of Israel bonds. Of the $6,187,000 in Israel bonds sold today, $3,700,000 was paid in cash and $2,487,000 represented subscriptions to be paid in full within the next few weeks.
The conference was stimulated in its final action by a cable from Prime Minister Moshe Sharett, who characterized it as “another decisive step forward in Israel’s progress towards economic independence.” Calling attention to the fact that “far reaching political developments are under way throughout the Middle East,” Mr. Sharett said; “Our means towards self-sufficiency are compounded of investment capital, unremitting toil and effective production. With tools provided by Israel Bond dollars, the people of Israel will do their share in agriculture, in industry and in development of the country’s resources.”
Addressing the conference last night, Reuven Shiloah, Minister Plenipotentiary of Israel in the United States, said that economic strengthening of Israel is vital to help the Jewish State overcome the hostility of the Arab states manifested through intense boycott, blockade and renewed threats of aggression.
Mr. Shiloah emphasized the strategic importance of the Israel bond campaign to help Israel “meet the crucial economic test. Every new road, every additional acre irrigated, every new industrial plant constructed, any new natural resources discovered and exploited lessen the danger of aggression,” he said.
THIRD OF ISRAEL’S DEVELOPMENT BUDGET MET WITH BONDS
Israel bond national chairman Samuel Rothberg reported that one-third of Israel’s development budget was being met with Israel bond funds. Making known for the first time a report based on three fiscal years from April 1, 1951, to March 31, 1954, Mr. Rothberg said Israel bonds provided $120,132,348 out of a total budget of $359,777,000, representing 33.3 percent. This does not include bonds sold after March, 1954, as well as some sold before that date, but not allocated by that time. Total Israel bond sales through the end of 1954 reached $177,552,450.
Dr. Emanuel Neumann chairman of the executive of the Zionist Organization of America and member of the Jewish Agency executive, reported a new mounting wave of immigration to Israel from countries, especially in North Africa, where the position of the Jews is becoming increasingly precarious. He stressed the fact that the Jewish Agency, which organizes immigration, and Israel bonds, which provide capital for the expansion of the economy, supplement each other in providing for these immigrants. He said that the Israel bond drive occupies “high priority” in the Zionist program and pledged continued support of the Zionist movement “for this great and far-flung effort.”
Samuel Rothberg was re-elected United States chairman of Israel bonds Rudolf G. Sonneborn, president; Henry Montor, chief executive officer, and Julian B. Venezky, chairman of the executive committee. Other 1955 Israel bond chairmen are Paul Philippson, Belgium; Eduard Spier, Holland; Victor Loeb, Switzerland; Osias Frey, Luxemburg.
A Central American Committee for Israel bonds was formed at the parley, with Simon Feldman of Mexico as chairman and Adolph H. Kates of Cuba and Ernesto Liebes of San Salvador as co-chairmen.
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