The opinion that the present economic crisis in Palestine will have beneficial results for the country was expressed by Max Delphiner. Viennese industrialist and owner of the Tel Aviv silk factory, who arrived in New York several days ago.
The crisis in Palestine is just like a crisis on Wall Street. It is well for the sound bonds and shares which are increasing in value on Wall Street that they should fall from time to time. Due to the crisis the unsound in Palestine will be removed and the sound will become sounder, he declared, when interviewed by the representative of the “Jewish Daily Bulletin.”
Mr. Delphiner, who is the first Jewish industrialist to make investments in Palestine industry on a large scale, expressed his great confidence in the future of the silk industry there.
The industrial prospects for Palestine are indeed very bright and the prospects for the silk industry are much brighter. There are great possibilities for exporting silk to the neighboring countries and there are raw materials to develop the industry. The average Jew cannot properly estimate the possibilities for this development. he said.
The Palestine government Mr. Delphiner continued, has now removed the custom duties on raw material necessary in the textile industry. This gives greater opportunity for the development of industrial enterprises.
As to the labor problem, it must be stated that the Jewish workers in Palestine cannot be criticized. They are not Communists nor socialists nor orthodox but they are idealists, men and women devoted to the single task of upbuilding the Jewish national home. This is a very important factor which increases the prospects for the future development of Jewish industries in the country.
Mr. Delphiner, who came to the United States in the interests of his silk factory in Tel Aviv, will spend several months here. He hopes to interest other Jewish capitalists of America to invest in Palestine industries. A luncheon was given in his honor on Monday at Charles Restaurant by the Zionist Council of Greater New York.
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.