Full Text of Resolution Adopted by U.S. Delegation at Economic Conference in Jerusalem

The full text of the resolution adopted at the urgent economic conference here by more than 40 American Jewish leaders who pledged American Jewry to back the projected Israel loan to the extent of $1,000,000,000–and expanding at the same time the work of the United Jewish Appeal–reads as follows:

“After a comprehensive and frank discussion we arrived at the following conclusions:

“1. That the people of Israel are dedicated to keep the doors wide open for the hundreds of thousands of Jews fleeing from persecution and misery; that the people of Israel are ready to make any sacrifice to serve the democratic way of life, which is the very essence of their very existence and that Israel strives for peace so that it can give the full benefits of a free productive life to all its people.

“2. We have come to realize that the full magnitude of the tasks of absorbing hundreds of thousands of new immigrants in Israel and of consolidating the economy of the country on a sound basis is far beyond any conception which American Jews have so far entertained and calls for a new approach to the scope of cooperation among the Jews of the United States and Israel.

“3. In the light of the tremendous achievements already made in rehabilitating the land and developing industrial services, we are confident that if tools and capital are made available, Israel will not only become self-supporting but will also serve as a dynamic democratic force in the development of the entire Middle East.

“4. The interest of American Jewry in Israel’s future is manifested to a high degree by the generosity and the flow of contributions to the U.J.A. which made possible outstanding accomplishments in the mass immigration and settlement of newcomers. However, American Jews must recognize that in order to meet long-range economic needs in Israel, new methods must be found to provide for larger sources required during this vital transition.

“5. Far above the needs of financing this immigration is the program of complete absorption of many of those who reached Israel during the last two years and the hundreds of thousands who are expected to enter the country during the next three years. In order to make this vast number of newcomers fully productive and to integrate them into the economy of the country, Israel will require $1,500,000,000 for the next three years. The people of Israel are ready to make the utmost sacrifices in order to assure their fullest share of this responsibility, but $1,000,000,000 must come from the United States.

“The requirements of such a scope cannot be provided in full through voluntary contributions alone. Consequently, additional channels must be found to discharge this obligation. We, therefore, believe: 1. That the United Jewish Appeal must continue; 2. That American Jews should extend their fullest cooperation to obtain a loan if the government decides to float it; 3. There are many opportunities for private investment in Israel. In order to realize the potentials in the field of private investment, more intensive efforts should be undertaken both within the United States and Israel.

“Appreciating that this exploratory conference of American and Israel leaders will be productive to a degree that all American Jews will share in its conclusions, we of America urge the convening in the United States at the earliest possible date of a fully representative national conference of American Jews at which the conclusions reached here may be presented for understanding and sanction by American Jewry, so that with full knowledge and determination it may go forward in accomplishing the most constructive enterprise in the history of our people.”