“A miracle is happening” in Israel, Gerard Swope, former president of General Electric Company, reported here this week-end at a meeting of civic and industrial leaders arranged by the Palestine Economic Corporation. Mr. Swope, who has just returned from a visit to Israel, reviewed the economic and immigration situation in the Jewish state.
The industrial leader, who visited many Near and Far East countries during his recent tour, said that he had found Israel’s standard of living to be second only to the United States “notwithstanding all their difficulties and large monthly immigration.” He attributed the high standard of living to the high productivity of Israel labor. He pointed out that the average worker in Israel earns about 50 percent of what the average worker in the U.S. earns, in terms of commodities. Mr. Swope added that he had decided to increase his investment in the Palestine Economic Corporation and to increase his support of the United Jewish Appeal.
Robert Szold, chairman of the bcard of directors of P.E.C., urged American Jews to aid Israel by: contributing to the U.J.A.; investing in Israel; for smaller investors, investing through the Palestine Economic Corporation. Other speakers at the dinner included Nathan Straus, president of WMCA, over which Mr. Swope’s speech was broadcast; Brig. Gen. David Sarnoff, chairman of the board of the Radio Corporation of America; and Ben Abrams, president of the Emerson Radio and Phonograph Corporation.
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