An appeal to the Palestine government to declare a moratorium on the payment of private debts as was done recently in Syria is urged on the High Commissioner by Sidki Uejni, Arab leader, in an open letter in the Arab paper, Al Hayat. He points to the great number of bankruptcies among Arab merchants and adds that only a moratorium will save the Arab business men, many of whom are unable to meet their obligations.
Dwelling on the economic effects of the British White Paper, the Hebrew paper, Davar, says that the financial crisis from which Arab merchants are suffering is doing much to temper their rejoicing over the White Paper. “The Arabs distrust the British promise to improve economic conditions and the effendis occupying seats in the legislative council will not invest money, hence the only effect of the White Paper is to shut off the supply of Jewish money,” the Davar points out.
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