The Soviet government announced today that it will cancel 4,602,000 roubles—approximately $2,500,000—of the debt which the Jewish colonies, established by the Agro-Joint in Crimea, owe it.
This sum is in addition to the 9,853,400 roubles already written off from the debt of the Agro-Joint colonies in Crimea by the government last December. The total of debt cancellations will now amount to approximately 14,500,000 roubles.
Cancellation of the Crimea debts is aimed to consolidate the position of the collectives and to improve the situation of the colonists. It will in no way affect the Agro-Joint since that organization will be repaid by the government in accordance with an existing agreement, it was made clear here today.
OTHER REGIONS BENEFIT
In addition to cancelling debts of the Jewish collective farms in Crimea, the government announced today also the cancellation of debts amounting to 2,465,000 roubles in the Kalinindorf Jewish region in the Ukraine. The sum of 1,302,000 roubles will also be deducted by the government from the debts of the Stalindorf Jewish region.
The debts which the government is now voiding had accumulated from the credits extended to the Jewish collective farms for the building of houses and for acquiring livestock and inventory.
Eighty-three Jewish collective farms will be relieved of their debt burdens in Crimea under the new arrangement, and twenty-seven in the Kalinindorf region.
The wiping off of the debts will affect only those credits received by the Jewish collective farms before January 1, 1933.
JTA has documented Jewish history in real-time for over a century. Keep our journalism strong by joining us in supporting independent, award-winning reporting.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
