Kaplan Announces Formation of Committee to Coordinate Work of Bond Drive and U.J.A.

Israel Finance Minister Eliezer Kaplan, left the United States yesterday after a visit of several weeks during which he participated in the launching of the Israel Bond drive and conferred with United States Government and Jewish leaders.

Prier to his departure, Mr. Kaplan announced the formation of a national committee jointly representing the State of Israel Bond Issue and the United Jewish Appeal to coordinate the activities of the two enterprises. He declared that in projecting its three-year program for Israel’s economic development, the State of Israel “placed strong reliance on the traditional generosity and sense of statemanship of the American Jewish community. “The two points of the four-point program,” he said, “that involve community-wide action are the United Jewish Appeal, for philanthropic purposes, and the State of Israel Bonds, for investment purposes.

“The State of Israel is interested in the best results for both,” he stated. “It believes that the two activities are complementary and that both should have the full support of all friends of Israel.” Pointing out that a number of problems have arisen as a result of which it is believed that coordinated action would be helpful, Mr. Kaplan said a committee had been proposed representing the U.J.A. and the American Financial and Development Corporation. “The aim of this committee,” he explained, “would be to implement the desire of Israel to see maximum results for both endeavors. I have indicated to the two organizations the underlying principles which animate the State of Israel in respect to the two enterprises. It is gratifying to be able to announce that the United Jewish Appeal and the bond organization have accepted the proposal for a joint committee and are going forward to implement it.”

At a meeting with the executive committee of the State of Israel bond drive, on the eve of his departure, Mr. Kaplan expressed confidence that the half-billion dollar bond issue will be subscribed prior to the three-year period. “The best indication of ultimate success is the fact that the Israel Bond Drive has already achieved the statue of a popular community-wide undertaking,” he declared. “We already have a very substantial number of purchasers in the amounts ranging from $10,000 to $100,000 and $500,000 who have established a solid foundation for our Bond Issue. However, the number of purchasers of Israel Bonds from $50 to $500, consisting of our capital appreciation or twelve year dollar savings Bonds, is considerably larger, indicating a very wide public response which will increase as the sale activities progress in the coming months.