The Israel Bond Organization today launched and intensified campaign in response to the request of the Government of Israel for support of a $90, 000, 000 housing program to build 30, 000 housing units for new immigrants. The heightened effort was launched at a meeting of the Board of Governors of the organization at the Waldorf-Astoria Hotel here.
More than 200 Jewish leaders from communities throughout the United States and Canada voted unanimously to broaden the scope of the campaign, to provide not only housing but also the economic integration of more than 100, 000 immigrants who are expected to enter the country during 1957. The Israel bond campaign must raise a minimum of $75, 000, 000 during 1957 for the development of Israel’s industry and agriculture, and the exploitation of her natural resources.
Dr. Joseph J. Schwartz, vice president of the Israel Bond Organization, reported that a total of $294, 198, 450 in Israel bonds have been sold since the bond drive began in 1951. $18, 513, 300 in Israel bonds have been sold so far in 1957, he said, and sales in the United States are 11 per cent ahead of last year. “The year 1956 was the best in the history of the bond drive, with $54, 088, 850 in bonds sold,” Dr. Schwartz stated. “Since we are now entering our most active period of campaigning, I am confident that the results for 1957 will set a new record in achievement for Israel’s economic development through Israel bonds.”
“The increase from 1956 to 1957 reflects a deep awareness in the American Jewish community that Israel’s economy must be strengthened,” Dr. Schwartz said. “But we must reach a far higher total sale than was achieved last year if Israel is to carry forward its development program successfully. During 1956, total immigration was approximately 56,000. This year it will exceed 100, 000, and may easily reach 120, 000, 000.”
Abraham Feinberg, president of the organization, who presided at the Board meeting, drew attention to the challenge facing Israel as her population approaches the 2, 000, 000 mark.
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