‘marking time.’ Some of them are trying to utilize their capital by organizing banks or loan associations. However, the present situation in Palestine is such that very few need loans. It is figured out that there are, at present, over a hundred banking firms in Palestine, each of them glad to grant loans at a very small percentage; but few of them having a demand for such loans.
In the history of Palestine it is perhaps for the first time that the supply of capital is larger than the demand. Whether this is a ‘healthy’ state of affairs or not it is a question for financial experts to decide; however, it certainly indicates that the condition of the country is, no doubt, more than normal. It indicates that at present Palestine is free from all those financial difficulties which the world is experiencing.
The present state of prosperity in Palestine, even though it is limited chiefly to the orange and building industries, will, undoubtedly, last as long as the world crisis will not subside. The worse the situation will get in the United States, in Germany and in Poland the greater will be the number of Jews who will leave these countries and will bring their capital to Palestine. The problem to-day in Palestine is, therefore, how to find a ground for development of new industries; the money is here, the market also.
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.
