Leo Herrmann, sec### board of the Keren Hay### Jerusalem, now visiting the United States, says the reduction of indebtedness by the Keren Hayesod and the Jewish Agency for Palestine can be accounted for by increased receipts.
“That the Keren Hayesod and the Jewish Agency for Palestine were able to reduce their debts by the amount of $500,000 is, of course, due in the first instance to the fact that the income of our fund, the Keren Hayesod, has increased considerably in the period between October, 1933, and September, 1934,” he asserted yesterday in commenting on reports from Palestine regarding the finances of the national funds.
“The increase alone amounted to not less than $150,000 on the general budget, exclusive of earmarked contributions and funds especially contributed for the settlement of German immigrants through Dr. Chaim Weizmann’s committee.
“That our receipts from all over the world are definitely increasing since the last congress can be accounted for by the fact that Jews are convinced by now that immigration to Palestine and strengthening of the economic position in Palestine offers the only practical contribution to the tragic problems in Jewish life today. “
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