The merger of Egypt and Syria into a unified state represents a “serious danger” to Israel, Abraham Feinberg, president of the Israel Bond Organization, stressed here today at the opening session of the three-day International Inaugural Conference for Israel Bonds. “Both Egypt and Syria have made no secret of their intention to use every means, including war, to destroy Israel,” he pointed out.
Addressing more than 1, 700 representatives of Jewish communities in the United States, Canada and Latin America who are participating in the conference, Mr. Feinberg emphasized that “under these circumstances our support for Israel bonds is extremely urgent in order to strengthen her economically against any eventuality.” He also emphasized that “the survival of Israel is vital to the cause of democracy in the Middle East.” (A similar warning on the danger to Israel emerging from the unification of Egypt and Syria was voiced today in New York by Senator Herbert Lehman–see page3.)
General Meir Amit head of the central command of Israel’s Army, who came to this country especially for the conference, declared that economic strength is vital to the defense of Israel. “Israel bonds are of decisive importance to us,” he said, “because Israel’s ability to survive and grow as a democracy depends as much on economic development as on military defensive power. Economic development represents the backbone of our independence and future.”
Dr. Joseph J. Schwartz, vice president of the Israel Bond Organization, told the delegates that Israel’s capacity to increase her population by 1, 000, 000 during the next decade depends in great measure of American economic aid. He explained why a drive to sell $75, 000, 000 in Israel bonds during 1958 will be launched at this conference.
“The projected increase of 1, 000, 000 in Israel’s population during the next ten years will bring the population of the country up to 3, 000, 000,” Dr. Schwartz said. “This will require an expansion of every facet of Israel’s economy: industry, agriculture, housing, mining and every other segment of economic activity.” He stressed the decisive importance of the sale of Israel bonds in making possible the fulfillment of this program of economic growth.
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