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Baron Edmond De Rothschikd Founds Palestine Jewish Colonization Association

October 10, 1923
See Original Daily Bulletin From This Date

Baron Edmond de Rothschild has established a new organization in Palestine “Pica”, (Palestine Jewish Colonization Association), the J.T.A. learns from a reliable source.

“Till now”, said Baron Edmond when interviewed regarding the project, “I have been the only wealthy Jew who has given considerable sums for Palestine. My present object is to induce other. Jewish capitalists to take part in the work, and for this purpose the Pica has been established.”

The Pica will appeal only to individuals and the sums which they will invest will remain as holdings in their name. Baron Edmond added that he himself would meet all administrative expenses connected with the organization’s work. He had great hopes in the industrial development of Palestine, and he trusted that his efforts in that direction would encourage others to invest capital in Palestine.

With regard to a Palestine harbour, he had at first held that the Government should build it, but seeing that the Government can only grant a concession for building a harbour, he thought that a movement should be started in the U.S. to guarantee its building financially. In that event, he would also participate.

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