The third annual meeting of the Economic Board for Palestine, Wednesday evening, heard from Sir Robert Waley-Cohen who presided, that the economic situation of Palestine was better than the press represented it to be. Sir Robert presided in the absence of Sir Alfred Mond, the Chairman, who telegraphed he was unable to attend owing to the election campaign.
Palestine has suffered from the general wave of depression, Sir Alfred reported, the banks having found themselves unable to extend credit. This must have been due, he said, to the fact that no economic progress is possible without political stability. The situation, however, is better than the press represents it to be. The speaker mentioned a number of important enterprises such as the “Shemen Oil Company” and the “Grand Moulin” founded by Baron. Rothschild at Haifa. Municipal loans were being given for water supply, which Sir Robert thought would be another paying enterprise.
At the request of the Palestine Government, the Economic Board undertook to guarantee the fund for the Palestine Pavilion at the Empire Exhibition.
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.
