Jewish Agency to Seek New Foreign Currency Rate from Israel

A new rate of exchange will be sought by the Jewish Agency from the Israel Government for foreign currency which the Agency brings into the Jewish State. A resolution to this effect was adopted at the concluding session of the Zionist Actions Committee this week-end. The resolution instructed the Agency’s executive to seek a new rate of one dollar to the Israel pound as compared to the present rate it receives of $1,40 to the pound.

The concluding session of the Actions Committee voted a budget of 83,750,000 pounds ($117,250,000) for the work of the Jewish Agency in 1953. Most of the anticipated income will be from the national funds and the United Jewish Appeal in the United States, but the budget also anticipates receipt of 11,000,000 pounds from the Israel Government for agricultural development. About half the total budget is for agricul tural development in Israel.

The Actions Committee, at its concluding session, also empowered its permanent budget committee to approve the budgets of the Jewish Agency and the national funds for the Jewish year, 5714, and to approve financial measures, such as loan obligations and disbursements not based on previously approved budgets.

Addressing the closing session, Berl Locker, Jewish Agency co-chairman, refuted the “barbaric attack on the Zionist movement” made at the Prague trials. He called for unity in the face of “clear signs of impending hardships” and warned “those, who in the Knesset and in the press recently, appeared half-heartedly and half-wordedly against Prague’s insinuations– we warn them as Jews and as Zionists to declare openly and unflinchingly where they stand. The Agency,”he continued, “will take steps against those who waver, since we must keep our standard clear. I will say no more about this, “Mr. Locker’s talk was warmly applauded.