Aharon Becker, secretary-general of Histadrut, Israel’s labor federation, announced today that George Meany, president of the AFL-CIO, had recommended that the American labor movement lend $10 million to Histadrut for its economic programs. The response of the American labor unions to this recommendation, Mr. Becker said, at the conclusion of his seven-week tour to the United States and Latin America, has been “tremendous.”
Louis Stulberg, president of the International Ladies Garment Workers of America, has pledged $1 million toward the loan, and Paul Hall, of the Seafarers’ International Union of North America, has announced that his union will contribute at least $200,000. The $10 million debenture, Mr. Becker said, will be drawn from the pension funds and loaned for a 15-year period at 6 percent annual interest. In addition, Histadrut has received assurances that another $10 million will be forthcoming from European trade unions.
The total in loans, Mr. Becker said, will be matched by workers in Israel, providing $40 million for investment in industrial expansion in his country, particularly in the chemical and electronic fields.
Mr. Becker left tonight by air for Tel Aviv. He was the guest in the United States of the AFL-CIO and the National Committee for Labor Israel.
JTA has documented Jewish history in real-time for over a century. Keep our journalism strong by joining us in supporting independent, award-winning reporting.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
