Israel Will Have Additional 500,000 Jews by 1964, Dr. Schwartz Says

The prediction that Israel will absorb additional 500,000 Jews by 1964 was made here last night by Dr. Joseph J. Schwartz, executive vice president of the Israel Bond Organization, in winding up the four-day national inaugural conference of the organization, at which the new $300,000,000 Israel Bond issue was launched.

Asserting that, during the past eight years, American economic support through Israel bonds has been the “backbone of Israel’s economic progress, “Dr. Schwartz pointed out that in its second decade of independence, Israel “must embark on a great new pioneering effort in the Negev to absorb additional 500,000 Jews by 1964.”

Outlining the details of the proposed use of the proceeds from the new bond issue, Dr. Schwartz said: “The primary objective of the new bond issue is to provide investment funds to increase domestic production as well as to expand industrial and agricultural production for export. Since its formation, the State of Israel has, to the maximum extent possible, channeled funds into production investment: to increase cultivated and irrigated farmlands; to establish industrial plants and to develop the natural resources of the country; to build an adequate transportation and communications system; and to stimulate housing for accommodation of new immigrants.”

The officers of the 1959 campaign to raise a minimum of $75,000,000 through Israel bonds were announced by Abraham Feinberg, president of the Israel Bond Organization. They are: Ira Guilden, New York financier who was named national campaign chairman; Lawrence G. Laskey, of Boston, chairman of the executive committee; Samuel Rothberg, of Peoria, national chairman of trustees of Israel bonds; Mrs. Joseph Cherner, of Washington; and Dr. Schwrtz, vice president.