A bill was introduced in the House today providing for a joint resolution that would authorize the United States to purchase $60,000,000 in Israel bonds.
The measure was introduced by Rep. James Roosevelt, Democrat of California, who pointed out that the United States owed an authenticated debt to the Revolutionary War Jewish patriot Haym Solomon of $658,007 in original principal. He estimated further interest at a rate of two and one-half percent.
Rep. Roosevelt said such a purchase from State of Israel bonds would meet the obligations of the United States to Solomon and be in keeping with the spirit in which Solomon loaned money to the struggling young revolutionary government of the United States. He suggested the United States take this step in connection with Israel’s tenth anniversary. He pointed out that the government debt of money to Solomon was never paid in any part, either to Solomon or his heirs.
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