One thousand Jewish capitalists can solve the entire Palestine problem, declared Asher Pierce, Canadian Zionist and financier, and president of the Gan Chayim Corporation, who has just returned from a long sojourn in Palestine. The Gan Chayim Corporation employs 3,000 persons in Palestine. Through the efforts of Mr. Pierce and private individuals, $8,000,000 have been invested in Palestine, converting a large stretch of desert land between Tel Aviv and Rehoboth into orange plantations.
The economic situation in Palestine is satisfactory considering the general economic situation in the world, Mr. Pierce said. He found the Palestinian Jews firmly resolved to continue their upbuilding efforts. Although he declined to discuss political questions, Mr. Pierce said that the Palestine administration is not unfriendly to the Jews. Private initiative, he pointed out, plays an important role in the upbuilding of Palestine and used his Gan Chayim company as an example.
Mr. Pierce said it was necessary for rich Jews to interest themselves in the upbuilding of Palestine not only as an ideal but from a practical business point of view. He said he himself is planning further large investments in Palestine.
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.
