Board of Governors Sets $66,500,000 As Goal for 1962 Israel Bond Drive

A goal of $66,500,000 in Israel bond sales during 1962 was unanimously adopted today at the closing session of the three-day conference of the Board of Governors of the Israel Bond Organization. (See report of Israel Finance Minister Levi Eshkol at the conference on page 5.)

The achievement of the new goal would bring to $600,000,000 the total sold from the inception of the drive to the end of 1962. A total of $533,000,000 in Israel bonds were sold from the beginning of the drive in May 1951 through December 31, 1961. The goal today was adopted by 350 Jewish leaders from all parts of the United States and Canada at the closing session of a three-day meeting at the Commodore Hotel here.

The Israel bond leaders acted following the receipt of a cabled message from Israeli Prime Minister David Ben-Gurion citing Israel’s pressing need “to provide refuge and rebirth for large masses of Jews.” Mr. Ben-Gurion stressed the responsibility which “must be shouldered by the Israel bond campaign leadership in mobilizing vital support for carrying out this historic task.”

The Prime Minister listed the following three major undertakings which “demand increased resources of pioneering investment capital provided through Israel bond sales: 1. Rapid construction of housing units at an unprecedented tempo especially in development areas; 2. Extensive settlement and development in the Negev; 3. Adequate expansion of industrial and other employment.”

Mr. Ben-Gurion warned that failure to carry out this program would involve serious negative alternatives for Israel. He indicated that the dangers were: “1. “A deplorable return to maabarot or immigrant transit camps; 2. Unhealthy overcrowding of already saturated areas; 3. Disruption of Israel’s program for the full integration of newcomers.”